Have a Marketing Plan in Place with Selling Bahamas Real Estate

March 9, 2008 --NASSAU, BAHAMAS-- Having a real estate marketing plan in place when selling Bahamas real estate can increase opportunities for a profitable sale. A well thought-out plan also enables a Realtor to work smarter, not harder, said Rachel Pinder, Principle Broker of Nassau Bahamas real estate A good real estate marketing plan will detail the Realtor's marketing strategy, Pinder said. Sellers should look for their Realtor's marketing plan to clearly specify the goals and objectives to be achieved over a specific time period. The plan also should lay out the various strategies to be followed in achieving those goals and strategies. Marketing plan strategies will involve the definition of the target market and the types of media and sales promotions to be used. A good plan also should include a competitive marketing analysis on the seller's property. Other elements home sellers should look for include the Realtor sending a feature sheet of the property listing out to other real estate agents. It is important that a real estate marketing plan not overlook the obvious elements, such as outlining how the property will be advertised in local newspapers, real estate magazines and the Internet. If it is determined the property might attract foreign buyers, it is important that the Realtor target foreign newspapers and magazines, Pinder said. Every seller hopes to sell their property quickly, but it doesn't always happen, she said. In that event, it is important that a real estate marketing plan include actions to take if the property is on the market more than 60 days without selling. "The Realtor should meet with the seller to determine why the property has not sold and, if applicable, reduce the listed price and remarket it," Pinder said. An effective marketing plan also should delineate the responsibilities of the seller- not just the Realtor- for carrying out the plan and accomplishing the goal of a profitable sale. "I think one misconception is that real estate marketing plans only outline what the Realtor is supposed to do," she said. "The seller has a responsibility in this process, too, and they should want to take partial ownership in the process to ensure a successful, timely outcome."