FSBO Fiction. Turn Myths into More Listings

FSBOs

Apr 23, 2018

With inventory in high demand and buyers eager for deals, sometimes it takes a little objection handling skill and myth-busting to turn FSBOs into happy clients.

The following are three common FSBO misconceptions. And how to turn them from myths to more listings.

1. FSBOs are hard to work with

Really – all of them? In truth, most sellers who are trying to sell themselves are eager to save money and fairly motivated, yet not well-informed regarding what it takes to price right in today’s market.

Are they distrustful of agents? Sure, many are but that doesn’t make them difficult it makes them human beings. It’s your job to earn their trust, treat them with respect, develop a relationship and make them raving fans.

How do you help develop that relationship? Consistent communication and professional presentation tools. Our FSBO Postcard Series are a great way to communicate and educate over time raising questions that will compel FSBOs to call you for help.

Our FSBO door hangers are also perfect for stashing in your car for a quick leave behind every time you see a For Sale By Owner sign.

Anytime you are attempting to get in the door of a potential listing, especially a FSBO, consider offering something of value. A reason to contact you. Great ideas for this are free reports, market information and a list of resources.

2. FSBOs are overpriced

Many FSBO homes probably are overpriced but surprisingly with the information available on the internet, many get the price right. However, more often than not, they still don’t understand they can likely get more for their home using a real estate professional.

The biggest reason this is true is the exposure an agent can create for your property as opposed to what a FSBO can do on their own. An agent enters the property into the MLS where it is broadcast marketed via the paper, home guides, a wide range of internet sites, and to other agents. This creates greater property exposure and more competition leading to a higher selling price.

A great strategic tool that allows you to walk sellers through all the components of the salable listing is the Merchandising Review. It even helps to answer some questions before they’re raised. The Merchandising Review is available as a Free Download Here.

As soon as you see a new FSBO, contact them to offer to complete a ‘no obligation” Merchandising Review. Explain the tool allows you to make a comprehensive analysis of whether their home is salable in today’s market and what will assure it sells for the right price. Then schedule a 20 minute time to meet with them to go over the Review.

Walk them through each item and negotiate the issues that might keep the property from selling. Correct these issues, and ask if they would allow you to show them your marketing plan.

3. FSBOS can succeed on their own

The truth is most FSBOs do end up using an agent. According to NAR, statistics show only 8% of the homes sold are FSBOs. And 31% of FSBOs don’t market their properties. They need someone like you to lend your expertise for a headache free sale that achieves the most money.

Other tasks that NAR has shown are difficult for FSBOs include: pricing the home right (18%), preparing the home for sale (13%), understanding the paperwork (12%), helping the buyer obtain financing (6%), timely selling (3%) and time to devote to the sale (3%).

FSBOs really are the “low hanging fruit” but the keys to success are consistency and timely communication. Most deals are sealed after the fifth contact. Know your business and your market and you’ll create a presence as the expert in your market for FSBOs.

Get prepared for your next FSBO sighting by ordering 100 FSBO Door Hangers today to have available to leave on the door of the next home you see with a FSBO sign.

Remember -we’re here if you need us. Call our team today at 866.405.3638 to help choose the marketing materials you need to capture this market!

PLUS: Hey, don’t forget to check out 3 Free things below that will help you CRUSH IT this year!

1. Easy Agent Business Plan

Treat your business like a business. It is vital to long-term success in this industry. This business plan is both easy and highly effective. Check out the perfect one-page Real Estate Business Plan – Click Here

2. Marketing Return on Investment Calculator

Consistent marketing is the key to success. Discover how effective your marketing dollars can be. Enter numbers in our Free online Return on Investment Calculator to see instant results! – Click Here

3. 12 Month Done-For-You Marketing Planner

The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Listing Inventory, Geographic Farming, and Sphere of Influence – Click Here

Also…check these out 🙂

Turn One Listing Into More – from your mobile phone

Automate Your Just Listed/Just Sold Postcards – work smarter not harder

Become a Neighborhood Brand – with the Market Dominator System

Agent relocation: Building a New Business

Business Success

Apr 18, 2018

Think back to when you first got started in real estate. Remember that sinking feeling of knowing that you had no money coming in – and wouldn’t – until you got a deal?

The suggestion that you should start generating leads by trolling your sphere of influence is of little consolation when one is accustomed to receiving a regular paycheck.

If you took the advice, however, you now know the value of a network of people who know, like and trust you. And, never is this sphere of influence more appreciated than when it’s time to leave them all behind and start anew.

Relocating real estate agents experience a double whammy—moving their homes and families as well as their businesses. Only, the latter isn’t as simple as it might be for other business people. As a small business owner, you’re going to be starting from scratch. No family, no friends, no colleagues.

How will you do it?

You’ll need to lay some groundwork before the move and then hit that ground running upon your arrival. Other agents have successfully started over, so learn from them.

The groundwork

Before you leave your present home, make some warm calls to your present sphere. Ask if they know anyone in your destination city that might be ok with you calling them for some insider tips on the area.

Then, call and introduce yourself and begin loading up your CRM with these contacts.

Stalk other agents

If you have time before the move, get to know the major players in your new town’s real estate universe. Check websites, read Yelp reviews – do whatever it takes to familiarize yourself with the “competition.”

Pay close attention to their branding, as this is something you’ll need to do once you’re moved. If you’re seeing the same thing with most agents, differentiating yourself will be easy. If not, consider how you’ll make yourself stand out from the everyone else.

Then, look at the markets these agents are currently serving – find a niche that isn’t being served and claim it as your own. It’s a lot easier to be a big fish in a small pond than to try to be everything to everyone.

Get your web presence up and running early

With so many “fingers” in the website-creation pie, it’s not wise to depend on the developer’s estimated completion date, so get started as early as possible.

Your local internet presence will be imperative to get established.

Learn all you can about your new city

With the internet, getting to know an area is ridiculously easy and something you can begin before leaving your current city. Google Earth will even allow you to view the homes, neighborhoods and city hotspots.

Use Yelp to find out what’s popular with locals and create a Twitter list to stay on top of local events and news. To get a local’s view of the area, stalk the forums at City-Data.

After all the research, you should have a basic knowledge of the area so that when you land there, you can strike out on your own for a more intimate look.

And, now that your website’s up and running, take photos while you’re out and about and use them in blog posts about neighborhoods, eateries and city features. You’ll look like a local in no time.

Meet the folks

Your goal should be, aside from getting to know the area, building relationships in your new city.

One quick way to do this is to get involved in a community organization. Choose one that fits your passion and volunteer. Or, join a civic club, such as the Lions Club, Rotary Club or Kiwanis.

“My experience is to connect, connect, connect! Fill your pipeline. Know your market, focus and play the game daily,” recommends Christina Sanchez Hood, CEO at Silicon Valley HOODS, at Inman.com.

Get back to the basics

Starting a new real estate practice as an experienced agent is a lot different than starting as a rookie. Imagine trying to start a business where you not only don’t have a network but don’t know anything about the business as well. So, rely on your experience.

Which lead gen technique helped fill your pipeline as a rookie? Whether it was door-knocking, cold-calling, using direct mail or even floor time – if it worked then, it’ll work now. And, if it produces even one converted lead, you’ll thank yourself for putting up with the drudgery.

In fact, Patti Irwin, an agent in the Scottsdale, Arizona area relied on, among other tactics, open houses and floor time to rebuild her business after relocating from Illinois.

If all else fails, research buying leads

Yes, it’s a contentious topic and those on both sides of the issue have valid points. The fact is, if you work them right, many online leads are productive.

There are a number of companies that sell real estate leads, but it’s important to do some research before embarking on this tactic.

If you’re a new agent or have just relocated to a new area, start building your base of business today, send 100 Community Newsletters to an area where you want to become the neighborhood brand.

Always know that we are here to help you in any way we can. Call our support team at 866.405.3638 if you would like help creating your new mailing lists or marketing materials.

PLUS: When you have a moment…here are 3 Free things to check out that will help you CRUSH IT this year!

1. The Free Real Estate Business Plan Easy Outline

Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out the perfect one page Online Real Estate Business Plan – Click Here

2. The Free Marketing “Return on Investment” Calculator

Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your numbers into our Free online Return on Investment Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! – Click Here

3. The Free 12 Month Strategic Marketing Planner

Also…check these out 🙂

Turn One Listing Into More – all from your mobile phone

Automate Your Just Listed/Just Sold Postcards – with MLS Listings

Become a Neighborhood Brand – with the Market Dominator System

3 Tricks to Win Big with Real Estate Postcards

Postcard Marketing

Apr 16, 2018

Did you know that according to a national survey, over 75% of consumers that receive marketing postcards in the mail, not only read them but keeps them for weeks or more?

With this in mind, it just makes sense for real estate postcards to be a part of your marketing strategy. The following are three tricks to help you begin winning big with postcard marketing.

Direct response marketing

The intent of direct response marketing is to elicit a measured and often emotional response from your prospects. Methods used to trigger this response include a call to action, a question or something that compels your audience to reply.

A great example of direct response marketing using a question is shown in one of our Expired Postcards. The postcard reads, “Did you know more than 90% of people who have had the misfortune of having their listing expire change agents to help improve their ability to sell sooner rather than later?” Quoting statistics is a great way to lend credibility to a point you are making.

Another direct response option is educating your prospect, by raising their awareness and showing your expertise. An example of this is shown in one of our Market Quote Postcards. It reads, “Statistics show the typical FSBO home sold for $210,000, compared to $249,000 for agent-assisted home sales. A professional will net you more!” Again, the use of statistics helps validate the statement.

The last direct response example uses a “call-to-action” that gives your prospect an exciting reason to contact you that benefits them personally. An example of this is demonstrated in our Free Offer Postcards. These postcards contain offers for a “Free Home Market Analysis”, “Free Home Lists” or a “Free Home Equity Analysis”. Providing exactly what the consumer is in need of and at no cost to them makes it easy for them to raise their hand.

Keep in mind, although you may be tempted to send a postcard with a beautiful image and/or saying, because it’s simple and you know it will be readily accepted, be careful it’s not your only choice, specifically over compelling direct response content.

Most of all, remember a postcard has limited, valuable real estate available on the front and back. So make the most of this space with the right images and copy to drive home your point and gain your audience’s attention.

If you decide to create your own postcard, make sure to ask yourself the question, are you using copy and images that will evoke a response from your prospects?

If you speak to the heart of what your target audience is thinking and feeling, you will create a connection that makes people want to reach out to you.

Consistency

Begin your strategic marketing by sending out compelling postcards to a designated area and then do it, again and again. Because this is how often you need to “show up” in your prospect’s mailbox and in their lives to make an impact.

I can not stress this strategy enough due to the positive impact it will have over time. In fact, among other things, it signals to your prospects that you have a quality brand and service.

University of Wyoming’s Anthony McGann and Raymond Marquardt researched the effects of repeat advertising. They found that businesses that advertised with high rates of repetition tend to be rated as “high quality” in consumer report studies.

In addition, the results of another study published in the Journal of Consumer Research showed that consumers think that products and services repeatedly advertised are “good purchase choices”.

Consequently don’t waste time, effort and marketing dollars on a one-hit mailing because it will not have a worthwhile return on investment or positive long-term effect.

Finally, if you are not consistently seen in your targeted market through marketing, consider what message you are sending to your prospects about your level of commitment? Success comes to those who show up over and over again with the right message, the right attitude and the right promise of service.

A powerful database

Your mailing list is not just a compiled list of names and addresses. It represents the lifeblood of your business. And it includes people that, if cared for and kept in touch with, will take care of you for your entire career.

In fact, studies show that one out of twelve on this list will result in a transaction each year. This means a list of 200 will provide you 17 transactions per year. That is if you give them the attention they deserve, by consistently and effectively staying in touch.

Therefore, to keep your list information organized and easy to access choose a database program. But don’t stop with inputting just names, addresses, and phone numbers, also get personal with your entries. Aren’t you impressed when someone remembers your name, asks about your children, spouse, and hobbies?

This is why your database should include spouse and children’s names and don’t forget special interests, likes, dislikes, and personality styles. Begin the habit of contacting your list at least three times a year. Over time you’ll be able to feed more personal details into your database.

Finally, don’t forget about the mailing lists you get when you purchase a Just Listed Postcard. Every time you send a postcard out and do a radial or neighborhood search, for the perfect mailing list – that list is yours to keep. Use it to continue to build that prized book of business. Add these individuals to your database and start building a relationship with them.

For more ideas on how to create a powerful database, download our Free BusinessBASE book. It’s an informative and free resource that explains exactly how to grow your database effectively. And contains information that applies to both short-term and long-term career success.

Start applying these success tricks now. Send the Free Market Analysis Offer postcard from our Free Offer Series to at least 100 new prospects in an area where you want more listings.

Need help? We are here to help you succeed. Just call 866.405.3638 for assistance!

PLUS: When you have a moment…here are 3 Free things to check out that will help you CRUSH IT in 2018!

1. The Free Real Estate Business Plan Outline

2. The Free Marketing ROI Calculator

Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! – Click Here

3. The Free Strategic Marketing Planner

Also…check these out 🙂

Turn One Listing Into More – & all from your mobile phone

Automate Your Just Listed/Just Sold Postcards – with MLS Listings

Become a Neighborhood Brand – with the Market Dominator System

Secrets to Entering the Luxury Market

Luxury Listings

Apr 10, 2018

I recently spent time interviewing Michael LaFido, a top-producing Realtor, and luxury real estate consultant. Michael is the founder of the Luxury Listing Specialist Certification (LUXE) that many are calling the “new standard” for marketing luxury homes today. Michael is also the author of the books “Marketing Luxury” and “Luxury Listing Specialist” & he has been inducted into the National Academy Of Best Selling Authors.

Q: What is your definition of a luxury listing?

I define a luxury listing as three times the average home price for any given market. If the average home price is $200k, luxury would be defined as $600k and up. There is also a tier below luxury referred to as “higher end”, which I define as two times the average sale price for that market. In the above example, $400k would be considered “higher end”.

Q: What are the secrets of appealing to a luxury seller?

First, nobody cares how much you know until they know you care. You have to be authentic and truly care. There are agents that come across poorly because they are only bottom line driven and a seller will see through that. Being real and likable is important.

However, the biggest hurdle for many agents is penetrating the inner circle of trust. It can be difficult to penetrate this circle when dealing with high net worth individuals, they tend to be more guarded and untrusting.

A luxury homeowner will rarely give an opportunity to someone new and unknown to them. That is unless the agent has similar properties in their portfolio. Which is why a big part of what I do in my training is give agents the tools and resources to attract luxury sellers versus chasing them. Once an agent has gone through my program and has achieved our certification, they can leverage this certification as a third party endorsement.

Q: What advice do you have for agents curious about entering the luxury market?

The first step is more psychological than anything. An agent has to believe they can do it. Many agents have what I call limiting beliefs that are preventing them from breaking into certain markets.

Some of these beliefs include, I have to be licensed for X amount of years before I can sell high-end properties. Or I have to be with a certain brokerage. I have to live a luxury lifestyle, have a high net worth, and live in a big home or drive a certain car.

These beliefs are all false. I’m living proof. I have several properties on the market, $7 million and above in the Chicago land area and I came from a blue-collar past.

Recently I was in Las Vegas and a past training student approached me stating, “Hey Mike I attended you’re training a year ago and I just landed my first trophy listing for $850k.” She won this listing as an individual agent up against a power luxury team.

Another seasoned agent who never listed above $550k before she completed my training nine months ago said, “Michael, before your class, I would never have gone on a million dollar listing appointment.” Within two months of completing the training, she had a $5.3 million dollar listing appointment.

Q: What have been the greatest Aha moments for agents taking your certification?

Recently, after a training, I took agents over to an $11 million dollar mansion. I gave a tour of the property and insight into how to secure a listing like it and get it sold. I encouraged the agents to take selfies and create Facebook live videos inside the mansion as a way for them to market themselves from within this luxury property.

This tour of a multi-million dollar home was an eye-opening experience for many agents. Not just being in the environment, but communicating with their audience from within an $11 million dollar home broke down barriers and turned fantasy into reality. It’s important to put yourself in the surroundings of where you want to be in your life.

Q: How do agents begin to break down the mental barriers to entering the luxury market?

The best place to start is by increasing your income from where you currently stand. If your average sale price is $200k try and push it to $260k or from $300k to $390k. This is a smaller goal, to begin with, that offers a big result (a 30% income increase).

Also, add higher-end properties to your portfolio. A financial portfolio includes some high and some low-risk investments. Diversify your listing portfolio in the same way with some higher listings as well.

Many agents say, if I take on a luxury or a trophy listing, that’s going to mess up my averages. It’s true they take longer to sell and cost more money. However, there is a positive overall effect on your portfolio and an annual income that can’t be denied.

Q: For agents interested in learning more what’s their next step?

Watch my Luxury Blueprint Video Series (linked below). It’s a three-part series on how to break into and sell more high-end and luxury homes and we also include some other freebies. An agent can also listen to our podcast “Luxury Listing Specialist” on iTunes or Stitcher. To watch Michael LaFido’s Luxury Listing Blueprint Video Series, Click Here. For more information on Michael’s Luxury Listing Specialist Certification Click Here.

Always know that we are here to help you in any way we can. Call our support team at 866.405.3638 if you would like help creating your new mailing lists or marketing materials.

PLUS: When you have a moment…here are 3 Free things to check out that will help you CRUSH IT in 2018!

1. The Free Real Estate Business Plan Outline

2. The Free Online ROI Calculator

3. The Free Done-For-You Strategic Marketing Planner

Also…check these out 🙂

Turn One Listing Into More – & all from your mobile phone

Automate Your Just Listed/Just Sold Postcards – with MLS Listings

Become a Neighborhood Brand – with the Market Dominator System

Attract More Buyers with Virtual Staging

Home Staging

Apr 6, 2018

Based on a recent NAR survey, 77% of buyers stated home staging made it easier to visualize the property as their future home.

In fact, the majority of agents agree home staging decreases the home’s time on the market and increases the sales price (up to 15 percent).

With options from hiring a professional, to doing it yourself, here’s why more agents are choosing virtual staging.

Search the internet for virtual staging and you’ll find lots of articles on how “dishonest” the practice is and how “deceived” potential buyers feel when they visit the home and the staging they saw online isn’t there.

But, read who is writing these hit pieces – professional home stagers – and it’s easier to take them with a grain of salt. Besides, many agents are successfully using virtual home staging and have great tips to offer.

The vacant home

Regardless of the type of market or home, staging is a must for most vacant homes—even if it’s staged only for the listing photos.

But, there’s more to it than marketing. Vacant homes send a message to potential buyers: this seller is desperate.

At the very least, buyers may assume there’s an urgency on the seller’s part to get rid of the home. Hello, lowball offers!

Most buyers first view a home online. Therefore, having at least virtual staging in place avoids the “vacant home syndrome” that may lead to low offers.

What virtual staging is, and isn’t

Virtually staging a home for sale involves digitally enhancing the home’s rooms with furniture and accessories.

Many companies offer the service and it’s quite easy to use. All you, as an agent, need to do is send high-res photos of the rooms your client wants to be staged to the staging company. Depending on the company, you can have the finished product within 48 hours to a week later.

Costs vary as well. BoxBrownie.com charges as little as $32 per photo. While other companies can charge up to $100 or more per photo.

Virtual staging isn’t a DIY project. Sure, you can purchase software, but it isn’t the same software the pros use and, without a staging background, it’s not wise. Unless, of course, you think homeowners going FSBO is wise, then, by all means, go for it.

Unlike most of the out-of-the-box virtual staging software, the professional virtual staging software doesn’t virtually remodel homes. It presents the home’s architecture as-is and design the staging around what is actually present.

The photos are high-resolution and far more realistic and professional-looking than you’ll get with consumer-oriented software.

So, how do you keep a potential buyer from feeling manipulated?

Hard feelings may ensue when what a potential buyer sees in person isn’t what was presented online. Buyers may feel deceived, or like the victim of a bait and switch type of con.

Kiawah Partners in Charleston, S.C. has a brilliant solution.

“The company shows two versions of the photos: the room as it was originally photographed and the virtually staged room with the word ‘visualization’ prominently watermarked in the corner of the image,” explains Realtormag.com’s Erica Christoffer.

“The potential home buyer can see that the kitchen currently has beautiful dark wood cabinets and dark quartzite countertops, say, but can also see what it would look like if the cabinets were painted white and the dark countertop was replaced with a white marble,” explained Tiffany Jonas, Kiawah’s advertising and marketing manager

The company also includes a disclaimer in the property’s MLS description.

At vacant properties, the empty rooms contain large photos of the virtually staged room, “mounted on foam board and sitting on easels,” according to Cristofer.

“The potential home buyer can plainly see the original, real room in front of their eyes and, in the mounted photo, how that room would look with different furnishings and finishes,” Jonas told the magazine.

Other agents who employ virtual staging have the most popular rooms staged several different ways. “To help buyers visualize, for example, how a space could serve as a study, an exercise room, or a guest room, depending on one’s needs,” according to Boston Globe correspondent Marni Elyse Katz.

What to look for in a virtual staging company

Choosing a virtual staging company is rather like choosing a professional real estate photographer—it’s all about the photos.

Of course, you’ll want to ensure that the photos are realistic. You’ll also want to ensure that they take into account all the other aspects of stunning photography. These include lighting, scale, color, and composition.

A virtual staging company should also offer experience in home décor and styling. This includes the ability to create tasteful combinations of furniture and accessories, wall colors and flooring.

Finally, consider what you get for the money you are willing to spend.

We recommend BoxBrownie.com, not only for their skills and affordability but for the extras they offer, such as professional copywriters, to really make your listing sing.

Another way to attract more buyers is to send the Still Renting postcard from the First Time Buyer/Renter Series to at least 100 renters in your area. Need a mailing list of renters? Click Here.

Always know that we are here to help you in any way we can.

Call our support team at 866.405.3638 if you would like help creating a new mailing list or marketing materials.

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1. FSBOs are hard to work with

2. FSBOs are overpriced

3. FSBOS can succeed on their own

Get prepared for your next FSBO sighting by ordering 100 FSBO Door Hangers today to have available to leave on the door of the next home you see with a FSBO sign.

If you’re a new agent or have just relocated to a new area, start building your base of business today, send 100 Community Newsletters to an area where you want to become the neighborhood brand.

Direct response marketing

Consistency

A powerful database

Start applying these success tricks now. Send the Free Market Analysis Offer postcard from our Free Offer Series to at least 100 new prospects in an area where you want more listings.

Q: What is your definition of a luxury listing?

Q: What are the secrets of appealing to a luxury seller?

Q: What advice do you have for agents curious about entering the luxury market?

Q: What have been the greatest Aha moments for agents taking your certification?

Q: How do agents begin to break down the mental barriers to entering the luxury market?

Q: For agents interested in learning more what’s their next step?

The vacant home

What virtual staging is, and isn’t

So, how do you keep a potential buyer from feeling manipulated?

What to look for in a virtual staging company

Another way to attract more buyers is to send the Still Renting postcard from the First Time Buyer/Renter Series to at least 100 renters in your area. Need a mailing list of renters? Click Here.

Our Real Estate Experts