Download Marketing Plan - Details - The Devincenti / Lagomarsino Team

Marketing Plan - Details
Prepare a Property Marketing Package
Upon execution of an Exclusive Representation Agreement, a professional Marketing Package is prepared that will give the prospective investor pertinent
information about the project. The marketing package will include color photos of the property, a detailed property description, proposed financing, income
and expense data, cash flow analysis, complete on-site survey, rental survey of comparable properties in the area, recent sales comparables, a location
map, etc. We believe that a professional marketing package should provide a potential investor with the complete information required to analyze the
project and make an investment decision.
Marcus & Millichap Internal Marketing Communication
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Within twenty-four hours of the signing of an Exclusive Representation Agreement, the Marketing Package is prepared and
distributed via the Marcus & Millichap intranet site (MNET) to all 71 offices and to over 1,200 investment brokers at the company.
This will place your property in front of the maximum number of qualified investors in the shortest period of time.
A marketing presentation, which involves an in-depth discussion of the property, will be conducted at the Monday Sales Meeting to
acquaint the agents in our office with your property. The presentation consists of reviewing the key elements of the project
including color photos of the property and immediate area, complete investment analysis using actual and projected market rental
income and expense information, and information explaining all physical and geographical aspects of your property and corresponding
Saleable features.
Marcus & Millichap Company Website “ www.marcusmillichap.com”
Marcus & Millichap posts all of its Exclusive Listings on the company website for any and all brokers and investors to view our current inventory of investment
real estate. A description of the property, color photos, income and expense statement, and a list of the property highlights are provided to give brokers and
investors an overview of the property. From there anyone can contact the Listing Agent to get additional information.
Personal Websites “www.marcusmillichap.com/jdevincenti and www.marcusmillichap.com/blagomarsino”
All properties exclusively listed by James Devincenti and Brad Lagomarsino are listed on their personal website at the web address noted above.
This website is used by investors and brokers, and provides an easy way for interested parties to view details of the listing including color photographs, and
income and expense statement, and a list of the property highlights.
Posted on the San Francisco Multiple Listing Service (MLS) and Loopnet
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As a member of the San Francisco Association of Realtors, Marcus & Millichap posts all of its San Francisco exclusive listings on
the Multiple Listing Service (MLS). Posting the property on the MLS allows all San Francisco brokers cooperating with the
Association to quickly receive an announcement for sale, and the highlights of the subject property. As part of the announcement,
we will be setting the date for the first “Open House”, which will be automatically scheduled on the following “Tuesday Tour”.
We also post San Francisco exclusive listings on Loopnet in order to draw from a wider investor pool. Loopnet is a national online
database of commercial real estate.
© 2005 James Devincenti, Marcus & Millichap
Marketing Plan - Details
Advertising
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Marcus & Millichap regularly advertises in the San Francisco Chronicle, the Commercial Property Guide,
the Los Angeles Times and the Wall Street Journal. As part of the marketing effort of the subject property, a specific
advertisement will be placed immediately in the San Francisco Chronicle to announce the sale. Advertisements
in the Commercial Property Guide, the Los Angeles Times and the Wall Street Journal will be placed on an as needed basis.
• We will insure appropriate advertising throughout the listing period in order to obtain the greatest exposure possible for
• your property.
Order Sign for the Property
If acceptable to the seller, a 4’ X 8’ sign will be ordered by Marcus & Millichap. The sign will be placed on the front of the
property announcing to brokers and prospective investors its availability for sale and the contact information.
Announcement of Property for Sale to Apartment Owners and Apartment Building Brokers
• Upon execution of an Exclusive Representation Agreement, a full color mailer will be designed and 5,000 copies will
• be ordered.
• Upon completion, the mailer will be sent to approximately 5,000 San Francisco Apartment Owners and 750 “Active”
• Apartment Building Brokers working in the San Francisco market.
Conduct an “Open House” to Preview the Property
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Upon execution of an Exclusive Representation Agreement, a date will be scheduled with the seller and on-site
management to have an “Open House” for all brokers interested in viewing the common areas of the subject property
and a representative number of the apartment units. The “Open House” usually occurs on a Tuesday, lasts two hours,
and is conducted in coordination with the Tuesday brokers tour, operated by the San Francisco Association of Realtors.
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Representative units will be chosen based on their quality in relation to the rest of the units and on the cleanliness of
the tenants. The Listing agent will be stationed at the front door to welcome all brokers and their clients, distribute
Marketing Packages, answers questions and to collect business cards for follow-up calls. Marcus & Millichap staff will
be positioned within the units to help maintain a constant flow and to answer questions.
• Tenant rights will be respected, and guarded at all times.
© 2005 James Devincenti, Marcus & Millichap
Marketing Plan - Details
Contact Owners of Apartment Buildings in the Surrounding Area
Owner of apartment buildings in the surrounding area will be contacted regarding the sale of the property. Because of their
personal knowledge of the apartment market in the immediate area, these investors are some of the most likely buyers.
Direct contact with them will insure that they not only learn of the sale, but also get the most accurate and in-depth information
regarding the property.
Contact Past Clients and Active Qualified Investors
As leaders in the San Francisco Apartment Market, Marcus & Millichap has a vast database of past clients and active
qualified investors who will be contacted regarding the sale of the property.
Additional Inspections for Brokers and Qualified Investors
After the initial “Open House”, private showings are scheduled only for pre-qualified investors. The presentation of the
property is done in a manner to maximize the probability of the potential investor recognizing the benefits of the investment.
These showings are conducted only by pre-arranged appointments, and the potential investors will be accompanied by their
representative broker.
Presentation of the Property at the Monthly “Investment Property Marketing Group” and “Apartment
Marketing Group” Meetings
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Upon execution of an Exclusive Representation Agreement, the subject property will be presented at the next possible
“Investment Property Marketing Group” and “Apartment Marketing Group” meetings. The “Investment Property
Marketing Group” meeting occurs once a month, and is attended by brokers from all over the Bay Area. The
“Apartment Marketing Group” meeting also occurs once a month and is attended by the top apartment brokers in San Francisco.
Periodic Owner Reporting
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Marcus & Millichap strongly believes it is important for the owner to keep abreast of any activity on the property and
changing market conditions. With that in mind, we will continually keep you advised as to the current progress of the
marketing program including the status of prospective buyers and updates on the progress of ongoing negotiations.
In addition we will "follow-up" on every Broker who shows your property, with uncensored feedback to you of both the
Broker's and the customer's reactions and comments.
We believe that marketing investment real estate successfully involves a team effort between the seller and Marcus &
Millichap. After all, we work for you!
© 2005 James Devincenti, Marcus & Millichap
Marketing Plan - Details
Presentation of the Property at the Marcus & Millichap Investment Property Symposium
Marcus & Millichap conducts "invitation-only" Buyer's Symposiums, which presents properties to qualified investors.
Each pre-selected investor must have a minimum of $500,000 cash or equity in order to attend. For the property, the
following information will be made available: price, location, description, proposed financing, income and expense data,
operating data, comparables, on-site surveys, maps, demographics and photographs. The Buyer's Symposium assists
the investors in making better informed investment decisions and will help create valuable opportunities for you.
Manage the Escrow Process
Marcus & Millichap provides specialized contracts for purchase agreements (structured to protect sellers’ interests) and
offers total coordination of all escrow activities from the opening of escrow to the successful close including:
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Recommendation of inspection services, attorneys, CPAs and property management personnel where needed
for buyer or seller.
Assistance in locating and securing financing.
Supervise the purchaser’s “Due Diligence” investigation of the property, books and records and removal of
contingencies.
Preparation of all documents to be utilized during the completion of sale, to include but not be limited to:
A. Receipt of Documents
B. Document Contingency Removal Agreement
C. Physical Contingency Removal Agreement
D. Estoppel Agreements
E. Deposit Increase Agreements
F. Deposit Transfer to Seller prior to C.O.E. Agreements
G. All Escrow Documents
Assistance with 1031 Exchange Transactions
James Devincenti and Brad Lagomarsino are very familiar with the 1031 exchange process. Marcus &
Millichap is a significant force in facilitating 1031 Exchange transactions, nationwide. The firm has long-term
relationships with owners and investors of every major property type in markets nationwide. This enables
Marcus & Millichap agents to match properties with exchange buyers quickly and efficiently. Because of the
firm’s singular concentration in investments and its national reach, Marcus & Millichap has one of the highest
exchange transaction volumes in the nation. At any one time, Marcus & Millichap has hundreds of exclusive
listings that may be appropriate for a 1031 exchange.
© 2005 James Devincenti, Marcus & Millichap
Marketing Plan - Details
Conclusion - Creation of Value
• Limited Number of Buyers: For every property that is offered for sale, there are only a limited number of
• buyers. That limited number of buyers becomes even more limited as the price of a property approaches
• the high end of what is considered "the market".
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Marketing Expertise: Marcus & Millichap has demonstrated that it can seek out this very limited investor
population if it has the cooperation of the seller in formulating a controlled and promotional marketing
effort. When a seller and an agent for Marcus & Millichap enter into an exclusive representation
agreement, Marcus & Millichap will commit all its resources and personnel to seek out and present a
complete summary of benefits of the income-producing property to these investors. We have found that
buyers need to be sold; if a property sells itself, it is probably under-priced. Proper selling takes
preparation, the exclusive confidence of the seller, and a reasonable marketing period. Given this time
and confidence, our agents will formulate a marketing program that will create value for the seller.
• Targeted Programs: Controlled, yet thorough exposure is the hallmark of Marcus & Millichap's marketing
• reputation. Only qualified buyers receive information on the property, thus preserving the confidentiality of
• the information and ensuring the proper matching of buyer and property.
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We Want to Win Your Business: We look forward with enthusiasm to assuming the responsibility for the
marketing of this property in order to provide you the benefits you are seeking. From our experience in
the San Francisco Bay Area market, we are confident of the ultimate success of the strategy and the
quality of our service to you.
© 2005 James Devincenti, Marcus & Millichap
Marketing Plan - Overview
From the day a client signs a listing agreement the team conducts a thorough marketing process.
7 Days
• Prepare marketing package
• Create direct mail piece
• Order sign for property
• Post on Marcus & Millichap
• Intranet Site (MNET)
• Post on the Marcus &Millichap
• company website
• Post on James Devincenti’s
• personal website
• Post on SF Multiple Listing
• Service (MLS)
• Post on Loopnet
• Advertise in the SF Chronicle.
• Advertise in the Wall Street
• Journal and Commercial
• Property Guide as
• appropriate
• Post sign on property
30 Days
• Present property at the
• monthly “Investment Property
• Marketing Group” and
• “Apartment Marketing Group”
• meetings
• Periodic owner reporting
14 Days
• Direct mail announcement of
• property sent to over 5,000
• apartment owners and 750
• apartment building brokers
• Presentation of the property
• at the Marcus & Millichap
• Monday sales meeting
• Open house for brokers and
• qualified investors
60 Days
• Present property at the
• Marcus & Millichap Investment
• Property Symposium (mid-year)
• Set offer due date
• Review, negotiate and select
• best offer
Manage the Escrow Process
• Open escrow & confirm deposits
• Delivery of books & records
• (leases, title report, etc.)
• Coordinate inspections: property,
• appraiser/lender, code
• compliance
• Contact owners of apartment
• buildings in the surrounding
• area
• Contact past clients and
• active qualified investors
• Additional inspections for
• brokers and qualified
• investors
90 Days
• Finalize escrow
• Review instructions and
• approve closing statement
• Coordinate signing of all
• closing documents with title
• company
• Close escrow
• Assist client with 1031 exchange
• (if needed)
The Goal: Combine the right property, with the proper price and terms, at the right time to the right buyer.
© 2005 James Devincenti, Marcus & Millichap