Traditional Real Estate venues and
techniques are based on search. If your buyer doesn't know
to search on your town or zip code they are unlikely to find
your property. More needs to be done than simply listing the
property in the MLS and broker sites.
properties should be marketed, not simply listed, and Franklin
Ruttan strives to supplement traditional methods with effort
and technique consistent with the magnitude of the property.
Ruttan exclusively lists properties, but also co-lists properties
with brokers all over upstate New York to assist traditional
brokers with the marketing of their unique listings to out
of area buyers.
Realtors rely on a sign and the MLS for 90% of their marketing
effort and sales in my experience. They also typically spend
less than 1/10th of 1% on direct advertisement. The typical
MLS agent plugs a sign in the front yard, posts amateur photos
to the MLS and prays the phone rings. That isn't marketing.
That is listing.
Ruttan supplements the traditional methods with direct advertising.
Mike estimates his ratio is 10% MLS and sign and 90% direct
marketing and media. This is particularly important when the
appeal to the property is more than just local and the buyer
may be down state or out of state and is more interested in
the property and may not be familiar with the location. The
majority of properties sold by Franklin Ruttan are to buyers
who were not familiar with the town prior to being introduced
to the property by Franklin Ruttan. Proper marketing budgets
are 1% to 2% of realistic sales price which is ten to twenty
times that which traditional and even top luxury brokers spend.
era of the traditional Realtor are over as it pertains to
unique properties. Technology has rendered the antiquated
MLS model obsolete. It is redundant. It has become commoditized.
The exclusivity the MLS enjoyed thru their monopolistic control
they exerted for years has now been minimalized by DOJ rules
that require the data they controlled be opened up.
MLS will continue their control over conventional properties
such as development homes but it is no longer relevant to
unique properties. Even so their control has been minimized
by flat fee listings. The MLS is a localized system and it
is based on search. And if a buyer isn't familiar with the
location they'll not find it, because the MLSs are localized
(36 in New York) A local MLS has minimal down-state or out-of-state
property buyers can not wait for buyers to find them. They
need to reach out and make potential buyers aware of their
unique property. They must make their property stand out over
the noise of the market. They can not have their property
obscured by thousands of others.
property sellers find that when listing with top luxury brokers
their property is mixed in and is required to compete with
the rest of that brokers listings. These brokers use the sellers
property as bait to secure buyers agency. Sellers of unique
properties need someone to represent their interest. They
need a custom marketing not a listing.
Luxury listing techniques work in Palm Beach and the Hamptons......................
but Upstate New York is not Palm Beach.
MLS is just another venue. One of dozens necessary to expose
a unique property properly.
unique property deserves a marketing of a similar magnitude
to the elaborate nature of the property. A listing is simply
directly with the marketing broker not just a listing Salesperson.
Licensed NYS Real Estate Broker
Unique Property Specialist
1406 North State Street
Syracuse, NY 13208