Marketing Update Report (MUR)
Marketing the Home
Referral & BMA Assignment
Offer and Closing
Relocation Authorization
Listing & Marketing
• Periodic Marketing Update Reports will be required • Submit to your Relocation Coordinator who will review and send to the referral management company • If after review your coordinator requests changes, please respond within 24 hours • Agent proactively communicates with both the Customer and the Relocation Department on all marketing activities and strategy recommendations
Marketing Update Report (MUR)
• It is key to have the most updated information for any Referral Management Company to be able to assist you in influencing the customer • The Counselor is required to deliver marketing information to the Corporate Client (the employer). They rely on the agent for complete updated marketing information. • Buyer and agent feedback is very important to update after each showing • Make sure the # of showings reflected on the report is accurate
MUR: Comparable Sales
• The comparable sale information should be updated when competing homes sell in your market • This information is key to knowing if the home is priced correctly for the market • Knowing there have been no new sales in the last 6 months or longer in the subject’s market area is critical to educating the customer • We often hear that there are no new sales comps in the subject’s area. Maybe look further out to see what is happening in surrounding areas. (In other words, going more “macro” as opposed to “micro.”) Is only our area affected? Why?
MUR: Comparable Listings
• It is important to keep the Counselor aware of the current status of the comparable listings used on the original BMA • Days on market will affect our customer. While it is important to be competitive with the other listings it is equally important to recognize that remaining on the market with extended marketing time is not to the customer’s advantage. We need to capture that one buyer who is ready to make an offer! • Please make sure you are updating the current Days On Market for the listed comps • Double check your listed comps to make sure they are still on the market
MUR: Marketing Activity • Customers and clients often say, “the only thing ever recommended is a price reduction.” While price is key, the reinforcement of data, comps and facts are needed to get customers on board. It is important the Customer is made aware of realistic price suggestions up front to shorten this progression. • Customers initially focus on what they paid for their home, the money they spent on extras, and their expected Sale Price. As the marketing progresses, they typically become more realistic. Relocation is time sensitive! The expectation is that homes sell within 120 days or less. • Corporate Clients are very cost conscious. They want the Employee in the new location as quickly as possible and their focus is on keeping homes out of Inventory. • Update what you have done to market the home since your last Market Update Report • Your recommended list price & most probable sale price are very important
Marketing Update Report (MUR)
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