Strategic Marketing That Sets You Apart
As competition grows more fierce, you may find yourself asking, “What’s my next move?” Savvy sales professionals are negotiating the turn by investing in smart systems and tools that drive more business and help them compete long-term in today’s real estate arena. Who will take the lead in both listing and selling homes as we navigate this constantly shifting market? Those who stay strategically focused on one-to-one marketing, negotiating effectively up front, and committing to consistent business development through monthly prospecting.
1. Set Your Standards High: In any market, taking listings that just won’t sell is far worse than having no listings at all. While you may be tempted to take at any price, terms or commission to secure the listing, this is a recipe for failure. Consider instead, raising your standards using a strong, effective tool which spotlights the homeowner’s commitment to getting the home sold in the quickest possible time, with the best price and terms. We call it our Merchandising Review and there are three very successful ways to implement this valuable tool.
First: Make the right mutual decisions at the listing appointment. In all likelihood, throughout your
presentation your sellers will have an objection or two regarding terms such as price, commission, etc. Our suggestion is to agreeably shelve objection handling until AFTER you have obtained the signatures for the listing. Then close your appointment by going over the Merchandising Review to make certain everything is in order.
Sample dialogue: “I want to thank you for listing your home with me. Please know that I will do everything in my power to get it sold. To help me do just that, let me take a few minutes to go over our Merchandising Review. I use this the same way pilots use a pre-flight checklist. This list of 18 different seller-controlled factors actually will help generate a quicker sale for the best possible price and terms. What I need from you is a commitment to check off at least eight of these items. Let’s review.” Then simply walk them through the list and negotiate where necessary.
2. Get non-selling inventory back on track. Go through your inventory and red flag problem listings. Walk through the problems using the Merchandising Review and the Five Most Common Mistakes tools. Contact your sellers by phone or visit in person to help them understand those review items that are hindering the sale of their home.
Sample Dialogue: “Mr. and Mrs. Seller, we’ve had your property on the market for ____ days now and we are not getting the results that either of us had hoped for. We have a new tool called the Merchandising Review that helps us identify problem areas, and I’d like to sit down with you to discuss those issues. I believe if we walk through these items we can get your listing back on track and help exact a faster sale for your home. Would tomorrow at 6:00pm be good or would 8:30pm be better?”
3. Data mine for the niche that’s right for you. By targeting niche markets that are near and dear to your own interests, you’ll be better able to “speak their language” and let your passion for that market segment build the momentum you are looking for. For example, do you love listing and selling waterfront properties? Is boating the way you unwind? Now, it’s easy to find and market to like-minded people and work not only with your sphere — but consumer interest groups that most resonate with you. That way you are growing your book of business with the kind of folks you are most interested in working with. (And that just makes work, and life, a whole lot more interesting, don’t you think?)
It’s never been easier to do.
Use Option 2 on our Mailing List page to search for the customer segments you most want to market to:
- Choose High Income Consumers for luxury or investment property.
- Choose the Lifestyle Interest option for a treasure trove of niche markets such as golfers (golf community property), Tennis enthusiasts (high end home with tennis courts, or communities with tennis centers), Boat owners (waterfront properties), etc.
- Look to High Income Renters for high quality first time home ownership options and communities that are high in amenities, low in upkeep.
- Choose baby boomers and elderly if working with seniors is your passion. Very often this will lead to developing powerful, referral relationships with the seniors and their children.
- Choose move up market for those who have been in their homes over nine years and statistically are a good candidate for a move. Help them list their current home and find their new dream property!
- Empty-nesters are a great segment to market for downsizing opportunities. With the right marketing twist, you could end up listing their current home, and helping them purchase their new home.
These market segments are just the tip of the iceberg. Find the niche that most works for you. Watch all three videos regarding the mailing options that are available to help agents find the perfect customers. From radial searches, to demographic searches to all new Nielsen Prizm Code data, the possibilities are endless.
Whatever strategy you deploy this season, make sure your message is clear and marketing consistent. Call, see or send something to everyone in your base of business at least every 30 days and you will find that your productivity, profitability, referrals and commissions will be on track all year round.
Need help? Call our marketing team today at 866.405.3638 to put the best systems in place to build your business easily, and cost-effectively.