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VOL. 42 | NO. 40 | Friday, October 5, 2018

Home not selling? Better marketing might be the key

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Sunday night, CBS joined the recent Paul McCartney circus featuring Sir Paul in a “60 Minutes” segment. This follows his Jimmy Fallon elevator sketch. All of which was spawned by the Late Late Show’s James Corden’s “Carpool Karaoke” feature that has more than 150 million views.

This enormous media exposure catapulted Paul McCartney’s new album, “Egypt Station” into the No. 1 position on the Billboard charts. It was his first No. 1 since the 1980s.

Sir Paul is one of the most successful recording artists of all time having sold more than one billion records. He has a string of 29 chart-topping songs. Yet it took 150 million viewers watching a video to land him his most recent No. 1 album.

While his new material is fresh, his voice is that of a 76-year-old man.

It was a far younger voice on his first recordings, which were marketed by sending promotional vinyl records to radio people. Only when 73 million people watched his band, the Beatles, perform on “The Ed Sullivan Show” that he and his mates found success in the United States. “She Loves You,” “Please, Please Me” and “From Me to You” had previously not charted in the Top 50.

In residential real estate, many sellers think that more presence on a particular website will shoot a house to No. 1. It will not. In today’s Nashville real estate market, even as hot as it is, most properties now require a marketing plan.

There is no panacea, no silver bullet. If a house does not sell following an extensive marketing plan, it is time to reboot. Time to find a “Carpool Karaoke,” something that will gain some traction.

While many houses still sell the first day on the market, others do not.

Often the Realtor is as surprised as the seller is when the house does not sell. In that respect, and that respect alone, Realtors are like Paul McCartney. They do the same thing for the houses that do not sell as they do for the houses that sell quickly.

The 2018 version of Paul McCartney is the same man who released albums in 2001, 2005, 2007, 2012 and 2013 that did not hit the chart as well. Is the material better, or is it the marketing?

Price, condition and, of course, location, location, location are factors in selling houses. In a competitive market, the marketing, even the branding, can be equally as important as price and condition.

As McCartney admitted during the “60 Minutes” segment, he cannot stop reaching for the next No. 1. Realtors are constantly striving to sell that next listing.

In real estate, unlike the record business, the Realtors’ competition doubles as their partners. If two agents vie for the same listing, the agent not chosen to list the home is often the buyer’s agent when the sale closes. They get by with a little help from their friends.

Sale of the Week

“We’re gonna rock down to Electric Avenue” is a lyric that dominated the US radio airwaves in 1983 and was inspired by the 1981 riots in the London district of Brixton, according to Eddy Grant, who wrote and recorded the song. Located in Brixton, the original Electric Avenue was so called as it was the first market street to be illuminated by electricity.

Nashville’s version of Electric Avenue overlooks Shelby Park, and 1428 Electric Ave. sold for $875,000 a number that would have shocked area residents when the song was popular. The house at this address sold for $129,900 in 1984.

Candace Kirby Campbell, a shining light at Keller Williams, listed the house for $900,000 and sold it in 36 days for $236 per square foot. The four-bedroom, four-bath house has 3,704 square feet.

Campbell, whose father is the founder of the iconic and highly regarded Kirby Electric Company, has had electricity flowing through her veins since her birth and was born to list this home.

With the requisite MOM – Master on Main – this house checks all the boxes with two back decks and a huge bonus room. While on the acronymical side of things, bonus rooms are referred to as FROGS (family room over garage) in North Carolina.

A Realtor recently was showing houses to a couple relocating to the Nashville area. In search of new construction, the couple commented on how nice the frogs were in each home they visited. Finally, the agent admitted her confusion and the couple explained.

Realtor of the Year Michael McKee represented the buyer in the transaction. McKee is a lifelong supporter of Habitat for Humanity and was a calming voice during his days of leadership at the Greater Nashville Association of Realtors.

His rich background in development and new construction has served his clientele well though his years of serving buyers and sellers.

Richard Courtney is a licensed real estate broker with Christianson, Patterson, Courtney, and Associates and can be reached at richard@richardcourtney.com

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