Status of Listings
There are four status's of listings on ICIWorld:
One can search only active listings placed within one year.
It is in the best interest of members to maintain and keep their listings up to date.
We have found the majority of deals take place at the top of the data base, not at the bottom.
We recommend that members up date their listings a minimum of once every 30-90 days.
We all know however that there are
many listings that have not been kept up to date. It certainly does
not achieve the maximum exposure.
So you see this service is not really about the listings, it is about the people. It is about networking opportunities that the listings identify.
One recent month, 44% of all the deals that were done were done this way. Someone called on something, it did not suit the person. They developed a business relationship, discussed other opportunities, and went off a and did a deal.
We have some brokers who were members who are no longer members. They have listings that are designated as expired and inactive. Does that mean their listings are not active? Does that mean this is not an opportunity to network?
Let's also use the example of Wants. Many times a broker or salesperson will have a major buyer for life. Their wants are wants for a lifetime. Their investor is always looking. Just because they placed their Want a long time ago does not mean it is not active today! Yes it would be better to up date their listings. We strive to remind the whole industry to do it. However everyone is overwhelmed with information. Everyone is suffering information overload. Does it mean the listing is not valuable to identify potential opportunities. The answer is an unequivocal NO.
This service is all about networking.
This includes information not just signed listings on a real estate board.
In commercial real estate some say 90% of the shopping centers are not on real estate boards. And this goes for all business categories.
In my surveys of commercial brokers, they have an average of between 0-5 listings of a commercial nature on a real estate board. However if we gave these same brokers 90 days to identify open and exclusive opportunities to do business every single one of them can come up with 10 or more opportunities to do business.
There is a special way to work these kind of opportunities that we will share with you if you are interested.
ICIWorld is not a real estate board type service. It is more like classified ads in a newspaper. Do you place addresses in all your listings in a newspaper? The same readers that read classified ads, also read ICIWorld on the Internet.
This service helps everyone in the world to explore opportunities to do business. Yes all brokers place their listings on ICIWorld. But it is also meant to explore other business opportunities that can not normally be placed on a real estate board.
Please call anytime to discuss this further.
We appreciate the opportunity to serve you.
Gary Nusca, CCIM