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Niche market, rich market
Mike Stark’s business, which helps do-it-yourselfers sell their own homes, is booming – thanks to the Internet.
By Jerry HicksPublished: April 01, 2009
For years, real estate agent Michael Stark enjoyed the upward climb in O.C.’s housing market. Ten years ago, he began to look for a new way to boost his business. He found it through two sources he hadn’t expected: One was the Internet. The other: people who want to sell their homes on their own.
Stark started postyourproperty.com, aimed at letting those people list their properties. He now has six different sites – free to sellers and buyers – geared toward helping those selling their own property. Stark makes his money from Web advertising, and more than 90 percent of his working day is spent with his online businesses.
Other than California, most of Stark’s listings come from Florida, where a lot of people own second homes or vacation spots. The southwest and southeast are always good, he says.
Stark is on the road some 30 times a year, traveling to real estate conventions. It helps to boost advertising on his sites.
“When people advertise, they want to know you,” Stark says. “That’s why I go to all these events.”
Some Realtors ignore the Internet. Stark considers this a huge mistake.
“Online marketing is here to stay,” says Stark. “It’s not going away.”
“People want to find deals,” he adds. “A mortgage broker cries the blues – why not concentrate his energy online?”
Traditional real estate sales won’t die out. “You still use direct mail,” Stark says. “You go out in the community. But only 20 percent of all Realtors are getting 80 percent of the total work. There must be an alternative.”
The for-sale-by-owner market will grow even larger during this recession, Stark predicts.
“Despite the economy, people still want to sell, people still want to buy. And they want to get in on a deal before anybody else hears about it.”
Who: Michael Stark
Web sites: postyourproperty.com, neorealestate.com, lookingforproperty.com
Base: Newport Beach
Startup costs: “It was just a few thousand. Today you can start up for $100. But it will cost more to get started if you want a (successful) site.”
Light-bulb moment: “We got immediate response. ... The Internet (can) beam your business in front of millions.”
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For years, real estate agent Michael Stark enjoyed the upward climb in O.C.’s housing market. Ten years ago, he began to look for a new way to boost his business. He found it through two sources he hadn’t expected: One was the Internet. The other: people who want to sell their homes on their own. Stark started postyourproperty.com, aimed at letting those people list their properties. He now has six different sites – free to sellers and buyers – geared toward helping those selling their own property. Stark makes his money from Web advertising, and more than 90 percent of his working day is spent with his online businesses. Other than California, most of Stark’s listings come from Florida, where a lot of people own second homes or vacation spots. The southwest and southeast are always good, he says. Stark is on the road some 30 times a year, traveling to real estate conventions. It helps to boost advertising on his sites. “When people advertise, they want to know you,” Stark says. “That’s why I go to all these events.” Some Realtors ignore the Internet. Stark considers this a huge mistake. “Online marketing is here to stay,” says Stark. “It’s not going away.” “People want to find deals,” he adds. “A mortgage broker cries the blues – why not concentrate his energy online?” Traditional real estate sales won’t die out. “You still use direct mail,” Stark says. “You go out in the community. But only 20 percent of all Realtors are getting 80 percent of the total work. There must be an alternative.” The for-sale-by-owner market will grow even larger during this recession, Stark predicts. “Despite the economy, people still want to sell, people still want to buy. And they want to get in on a deal before anybody else hears about it.” Who: Michael Stark Web sites: postyourproperty.com, neorealestate.com, lookingforproperty.com Base: Newport Beach Startup costs: “It was just a few thousand. Today you can start up for $100. But it will cost more to get started if you want a (successful) site.” Light-bulb moment: “We got immediate response. ... The Internet (can) beam your business in front of millions.” |
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