RISMEDIA, April 10, 2010—Holding out hope and waiting for the market to bounce back is easier said than done, especially in today’s market. Here, read how Becky Reinhold, Principal Broker, V.P. of Bluegrass Sotheby’s International Realty in Lexington, Kentucky keeps a positive attitude—no matter what the market is doing.
Years in real estate: 27
Number of offices: 1, opened in 2009
Number of agents: 27 with plans to grow to 30 and maintain “boutique” feel.
Region served: Lexington and surrounding area.
Current average days on market: 92
Positive market indicators: Sellers are more realistic, buyers are resurfacing as their confidence in the economy has improved and I’m busier than I have been in January since I can recall.
How do you target your marketing efforts to more effectively connect with clients and prospects?
The Sotheby’s International Realty brand is so effective for us. We use their e-mail marketing tools, fantastic website, brochures and name recognition to our advantage. Blue Sotheby’s International Realty real estate signs are recognizable all over town.
What specific strategies do you employ to promote your business?
We promote our business with print media, direct mail, through the Internet, open houses, brand awareness and community sponsorships. We also encourage our agents to independently market themselves and be involved in the community. This year, we are co-sponsoring Horse Mania 2010, a public art project that will have 80 painted, life-size horses on the streets of Lexington for four months before they are auctioned in December. All money raised will benefit LexArts and other local charities. I’m co-chairing this project.
How do you nurture and retain the best agents?
We have weekly office meetings with the usual updates of new listings and buyer needs, but we also bring in speakers on relevant real estate topics to keep updated on changes occurring in our profession. The Sotheby’s International Realty corporate brand also offers online training and personal visits to show us how to maximize the tools available for marketing our properties.
What role, if any, does social media play in growing your business?
We use Facebook and Twitter to help market our listings. We are still testing different social media applications to see how to best serve our clients.
What’s the biggest difference in serving consumers of today as opposed to 10 years ago?
The biggest change is the availability of information on the Internet. Most clients have extensively searched websites and have some knowledge of the market, but still need us to make sure the buying or selling process is handled in a professional way with outstanding service.