Sunday, August 20, 2017

The One Thing You Can Start Doing Today with Marketing Guru Stacy Stateham

By Julie Escobar

I’ve been really fortunate to meet some extraordinary people in this industry – bright lights who are always willing to share some brilliance with like-minded people.

One person I’ve really enjoyed getting to know and learning from is BloomTree’s Stacy Stateham. She’s witty and smart and has a lock on what it takes to elevate your career to the next level in this business. She was also recently selected as an Inman Connect Select Ambassador for the work she is doing and her contribution to our industry. She was kind enough to share some of that with us. Here’s what we learned:

Q: Can you tell the readers a little about yourself?

A: I’m one of the founders of BloomTree Realty, and my function is VP of Marketing and Branding. In addition to working on building our name as a company, I spend a lot of time training and coaching agents, and I also work on our tech and systems.

When we started BloomTree, we set out to create a company built around providing the absolute best level of service possible to clients and, to do that, we knew that we needed to create an environment where the best agents can grow and thrive.

Everything we do is built around our culture of collaboration, sharing knowledge and support. Not just the company supporting our agents, but agents supporting each other.  It’s awesome to see how successful agents can be when they work together!

Q: You’ve been around this real estate game for a long time and, in your position, you’re helping agents get their careers started off on the right foot. As we’ve spoken of many times, one BIG component of developing a long-term real estate success story is really focusing on building a database that represents your book of business. Can you expand on that for us?

A: A database? I’d say it’s one of the biggest differentiators between agents who earn the national median income and those who earn three-plus times that. Unfortunately, it’s also one of the things agents are most likely to neglect – not just having one, but constantly building on it AND really leveraging it as a regular daily function of doing business. Agents should be constantly building their databases over time – whether the real estate market is good or not – from the start of their careers to the time they retire.

Think of it this way: We all know that when we invest money long term, we can weather the ups and downs of the stock market. Investing by a consistent trickle – whether the market is good or bad over time – lets us ride out the lows, leverage the highs and, in the long run, earns a higher rate of return. Just Google “dollar cost averaging.”

If we see our database as a “fund” of business for when the real estate market fluctuates, the effort that we invest in building it is not only a source of business when times are good, but it also is a safety net for when the market is down.

If you’re going to start doing just one thing today to set yourself up for a successful business in the long term, get started on building a strong database.

Q: If putting your database together is the first priority, helping agents understand the importance of CONNECTING with those folks in a consistent and effective way so they stay top of mind as the agent to call is definitely equally as important. How do you recommend agents stay in touch, and how often?

A: In any business, clients and potential clients are a salesperson’s most valuable asset, yet many agents keep their contacts on sticky notes, in their Gmail contact lists, try to manually update spreadsheets, etc. Working that way, it’s easy enough to see which contacts have turned into clients, but it’s nearly impossible to see which haven’t.

So the first step is to use a CRM. We have all of our agents on FiveStreet for lead routing and TopProducer for their CRM as part of our overall tech package, so that all of their leads feed to their databases without having to do manual entry. It helps us as a company to have our agents use one system, because we’re better able to offer support and training. But whichever CRM is best for an individual agent is the one that they’ll actually use. They all have benefits and downsides, so just choose the one that fits best.

How often to stay in contact? As often as possible, provided that it’s done the right way (don’t be creepy). With so many tools at an agent’s fingertips today, it’s easy to mix it up with methods and platforms – newsletters, social media, postcards, in person with a friendly call, holiday greetings and so on. The key to success is to be approachable, genuine and human. Be consistent with your style and content. Give information in an honest way, and be a resource. People don’t like being sold to, but they love someone who’s there to help and guide them.  

On average, people move every seven years. And even though NAR stats say that most would refer a friend to their agent when they’re asked immediately after closing, a dramatically lower percentage actually do. That tells me that many agents aren’t staying in touch as much as they could. Most people will use the agent that’s front of mind when their need arises, so being that agent whom they know and trust is crucial to being the one who gets the phone call.

Q: I know you’re a fan of making a strategic plan for marketing a real estate business rather than that whole “throw enough things against the wall” approach. Can you share what you believe to be some must-have elements to an effective marketing plan?

A: A balanced marketing strategy is like a balanced diet. We can’t stay healthy on just French fries (but wouldn’t that be awesome?). We need protein, fruit, veggies, etc. too.

I see so many agents focusing on just one or two marketing platforms because they like them and they’re comfortable with them, and not layering those with other points of contact. They’re great at calling, so that’s what they do, while they ignore print and online. Or they have a killer website, so they don’t take the time to reach out in person. Or they’re great in person, so they don’t think they need a strong website.

Agents absolutely should focus on what they’re best at, but they can offset their weaknesses on other platforms through training, learning over time or by finding a great solution provider who can help them.

Eating a balanced diet every day keeps you healthy, and maintaining a balanced marketing strategy can do the same for your business.

Q: You’re also a social media strategist. Can you share some of your top tips for using those resources to build a strong real estate business?

A: It wasn’t all that long ago that social media was considered optional in marketing. It’s not anymore!

If you’re only going to use one, use Facebook. Agents should have both a personal profile and a business page, keep both active and use them in the appropriate ways. It’s super easy to set up a list in “friends” to keep clients and prospects separate from school friends and Aunt Harriet, and it allows us to be more personally connected than ever before.

Business pages not only help keep business posts separate, but they also allow agents to use Facebook Ads (I looooove Facebook Ads!). They’re much less expensive than regular pay-per-click, and the targeting capabilities are downright awesome. Probably the two coolest things you can do with Facebook Ads are to target only people who have been on your website (low cost, and you know they’re interested because they’ve already checked you out online) and to aim ads only to people in your database. There we are with the database again… yes, you can upload your database to your Facebook Ads account and send ads specifically to those people.  

Pinterest, LinkedIn, Instagram, YouTube, etc. are all extremely powerful tools too.

Q: You’ve been a ProspectsPLUS! fan for a long time. Can you share which tools you most recommend to other agents?

A: Is all of it an option? If I had to choose, I’d say Just Listed/Just Sold campaigns and property brochures. The neighbors around your listings are a great source of business for the next one, and people always want to know what’s going on in their neighborhood. Just Listed and Just Sold campaigns are a solid way to let them know that you’re actively selling in their neighborhood.

Pro Tip: Getting back to Facebook Ads, did you know that you can layer over Just Listed/Just Sold mailings with a Facebook Ad that runs just to that neighborhood? In the geographic options in ad setup, you can drop a map pin to exactly where your listing is and limit the radius to as low as one mile. Doing both print and online together dramatically increases the likelihood that your marketing will get seen. Go ninja level, and tie that hyper-targeted Facebook Ad back to your listing on your website, collect a lead, and have that lead go to your CRM.  

Consumers today expect something better than an MLS printout on the kitchen counter at a listing. Aim for something modern and sharp and, for heaven’s sake, don’t go DIY unless you’re awesome at graphic design. Make sure your photos look amazing, then check out the Luxury Marketing section on ProspectsPLUS! (your listing doesn’t have to be high end to look high end!). How you market this listing not only helps get it sold, but also may very well be the tipping factor in whether or not you get the next one.

Q: Any last hot tips for agents eager to knock it out of the park this year in terms of their goals?

A: What I tell our agents? First, do a business plan. Second, stick to it. Third, set one hour aside every week to focus on long-term improvements to their business.

Let’s be real… our future selves can’t be trusted. Thinking to yourself that you’ll do it eventually doesn’t get the job done. Actually put it on your calendar as a critical meeting with yourself so you actually do it. One hour once a week spent on setting up systems, automating a process, learning something new, setting up a long-running ad, training an assistant, adding SEO to a website or whatever will pay back big time in the long term.

If your goal is to earn $100K a year, one hour is worth about $48 if you’re only working 40 hours a week. In our market, commission on one side of a deal averages about $5,000 for the agent in earnings. So if you spend an hour once a week building your business for the long term, the math works out to a time investment annually of about $2,500, or half of one of our average deals. But what we see with our agents is that those who actively work their plans do more deals and, with just one more closing, it’s a win. Some have as much as doubled their business by working smarter.

Q: Awesome! How can readers connect with you if they want to learn more or send referrals your way?

A: Hit me up on Facebook! I’m there more than I am anywhere else online. I don’t personally list and sell anymore, but if you need a great agent in Arizona, just let me know. We have three offices full of amazing agents who can take care of a referral client for you.

Terrific, Stacy! As always, thanks for your amazing insight. You’re a treat to talk to and learn from.

If you’d like to know more about building your book of business, staying in consistent touch with your sphere and farm, and generating more listings and leads, visit our site at www.prospectsplus.com, or call our marketing team today at 866.405.3638.

The Sum of Small Things

by Julie Escobar

The market is hot and competition is hotter.  One big secret to success is to stay top-of-mind with your book of business.  And while that doesn’t have to be a HARD process – it does need to be CONSISTENT.  That got me thinking about one of Floyd Wickman’s quotes, “Great results are the sum of small things, done well, repeatedly.”  Boy isn’t that the truth?  I once asked Floyd to expand on that a little for us – and here’s what he had to offer:  “That’s one of my favorite sayings too, and it’s so true.  In fact, nothing defines that more than a commissioned salesperson picking up the phone and making a simple call to folks in their book of business—even if for no other reason than to say hello.  There is no higher thing they can do to shift their results in this business than to create those conversations.  In fact, in our courses we teach agents that for every 12 conversations they have, they can expect a referral.  To me, that’s the number one way to stay top of mind AND build your business.”

Great advice.  Floyd also shared that you can’t ‘nurture’ everyone.  So every agent should have two lists – one which is their book of business – those folks you are building a relationship with over time.  Your second list should be your database. That’s a list of everyone who’s ever inquired, been on your mailings lists, or internet leads that you can send drip campaigns to until they are ready to make a move. Your database is your least expensive list to market to – but it also yields much lower results than your book of business.

So number one?  Take Floyd’s advice.  Pick up the phone to everyone in your book of business.  Decide how you want to break that up – 10 a day, 20 a day or as Floyd used to say, “Call until you get one.”  Block off that time just as critically as you would a listing appointment – because it IS that critical.

Number two?  Get out of stealth mode. I can’t tell you how many agents rarely leave the office or their homes but call us to say – how can I get more business?  Get OUT there in your community and get noticed!  Take part in charity drives, school events, and host Q & A sessions at the local library or coffee shop.  The more contentVISIBLE you are – the more likely people are going to say YOUR NAME when asked if they know anyone in real estate!

Number three?  SEND them something tangible.  For all the obvious reasons, we’re fond of direct response mail postcards– because they are easy to order, quick to send and don’t take up a lot of your valuable face-to-face or voice-to-voice time with prospects and those in your book of business or sphere.  Monthly holiday cards, recipe cards, newsletters, or our content cards are a great ‘touch’ each month that are budget-friendly, can be ordered in minutes, and allow you to stay top of mind.  Keep things mixed up as well. Check out our Master Marketing Schedule if you haven’t already for some creative and way outside the box ways to get in front of your clients in ways that are sure to have you REMEMBERED!

Number four?  Be HYPER-LOCAL.  There’s a reason this term is all the buzz right now – it’s because it is
EXACTLY what consumers are looking for in their resources. Home buyers and sellers need to know what is happening right there in YOUR market – rather than just get sucked into the national news of what’s happening nationwide or even globally.  What are prices doing in their neighborhoods?  What’s happening in the schools in your area?  What new businesses are coming in or closing?  Who are the trusted resources, business or service professionals in YOUR area that they can call.  Start being the one to consistently deliver THAT kind of information – and your name, brand, reputation and referrals will skyrocket.

Number five?  Expand your reach.  If you’re not saturating the neighborhood or market area you want to dominate, then turn to Every Door Direct Mail (which gets you literally into every mailbox).  Our Market Dominator System is becoming quite the differentiator for agents across the nation.  In fact, one agent just shared this experience with us, The monthly ordering process is easy. Some months I simply upload my photo and company logo and submit the already created newsletter. Other times I customize it. Either way, the newsletters are distributed to 527 of my neighbors. Over the 11 months since I started, the EDDM marketing pieces have resulted in 5 listing appointments. This month, I have a seller preparing their home to list with me and received a buyer referral from a neighbor who receives my newsletters. It’s great to see some fruit from the seeds I planted.” Our advice? Follow his lead and plant those seeds! 

Now, what are you waiting for?  Get out there and start getting your name, business and face recognized as the incredible real estate resource you are!  And if you need help – give our team a shout at 866.405.3638 for systems that can help you do all of that and more! 

Finding the Diamonds in Your Database

By Julie Escobar

As my old friend Floyd Wickman used to say, there are acres of diamonds in your book of business or “sphere” – but the trouble is, most agents are willing to do what it takes to mine for those diamonds.

Many agents don’t even have a ‘book of business’ or a true database.  They’re either new to the business or ‘never got around to it’ or for some – they’re so busy working ‘in the business’ to ever work ‘on the business.’  But there’s acres of diamonds in building a sphere of influence client list of people who know you, like you and trust you. Because frankly – those are the people that are going to list and sell their homes with you – buy from you –and refer friends and family to you.  First – you’ve got to reach them.  Consistently.  Effectively.  With purpose.

First, look at should be in your book of business. Read last week’s post:  The Year of the Sphere.

Secondly, get a handle on your business plan.  This is the one-page easy plan shared by Floyd Wickman. 

2017-biz

Download a copy for yourself or your team here. Then USE it. Make sure you are reviewing every month so you know when you are are on track — and off!

Next, Invest in these ten strategies for building a powerful base. 

  1. Get it all on ‘record.’  Whatever database management system you choose, be sure that you have entered at the very least the basic information such as name, address, phone number, email address, social media addresses if you have them for every past customer, friend, family member and acquaintance that you can think of.  Sound like a lot of work?  It is – but SO worth it.  And I’m not saying you have to do it yourself.  Delegate it – that way you can stick to what you do best – getting face to face with the folks in your market.
  2. Fill in the blanks.  The more RELEVANT you are – the more REFERRALS you’ll receive. So once you’ve customer-appgot the basics down – take note of more personal information about the people in your database.  What do they do?  Where do they live?  What makes them unique?  What else do you know about them that you can reference?  Who’s in their family?  You know the old saying – the ‘devil is in the details!’ The more you know the easier it will be for you to connect with them on topics that are relevant and important to them.
  3. Clean up old records.  At least twice a year go through your database and cull old contacts, and clean up missed or incorrect information. Connect with your database and let them know that their business is important to you and that you’re just doing a little ‘housekeeping’ so that you can be sure they are always kept in the loop and double check their information.  You can even make them a fair trade offer of a free report or certificate of some kind.
  4. Data mine for ‘like’ minded people.  One of the best things an agent can do is to really take a good fsbolong look at what their ‘best customer’ looks like.  Who do you like to work with?  Seniors?  Singles?  First time homebuyers?  Expireds? FSBO’s?  Once you know that – and can determine who you both like to work with and the type of people you have the most successful relationships with – you can data mine to find more of the same.   Find list options for data mining here. 
  5. Add new personal contacts.  As sales professionals we come into contact with new people every day that are potentially great future clients or customers.  Make it a point to add at least one new person per day or five per week to your book of business – more depending on how fast you want your business to grow.  Many agents I know make this database building a positive habit by dedicating one hour a week to the health and maintenance of their list.  Every time they meet a new person at the local Starbucks, networking meeting, business event, PTA, restaurant – even the grocery store and have an opportunity to collect a business card or information – that person goes into the ‘book’ and the nurturing begins!  Some of the best agents spend an hour a week sending a personal note or firing off an email just to say what a pleasure it was to meet and if they need anything – just call.  (Making notes on the back of those business cards or in your phone after meeting a new person will help jog your memory for details when you are entering them into your database at a later time.)  Think about 10 people THIS WEEK you could add if you tried:  Teachers, Bankers, Restaurant Owner/Staff, Accountant, Attorney, Landscaper, Gas Station Owner, Grocery Store Manager…the possibilities are endless!  (If you did that EVERY week you’d be adding more than 500 people to your book of business each year!)
  6. Add past lists:  If you’ve sent out Just Listed or Just Sold postcards and have purchased a list of just sold cardhomeowners contact information who received those postcards – be sure not to forget those folks.  You can add them in and start the process of taking them from ‘prospect’ to ‘member’ of your sphere by building those relationships over time.  Think about this – every time you send a Just Listed postcard with a purchased list – you are adding to your database. But most agents only send that one card, the Just Listed to that list.  Think one list = unlimited opportunities.  Contract Pending. Price Reduced. Just Sold. Listing Inventory.  Check out our new ThreeClickPostcards.com – where you can order your Just Listed/Sold/Contract Pending cards — right from your phone!
  7. SHARE with them.  Direct mail is a great way to ‘touch’ your book of business at least once a month.  From powerful postcards with relevant offers to a monthly newsletter packed with valuable content – staying in TOUCH is the key to staying TOP of mind.  We’ll even help you automate the process with a set-and-forget system that allows you to put your marketing plan in motion and then focus on those personal contacts and the three tasks that are most important in your business:  prospecting, presenting and CLOSING.  Visit www.prospectsplus.com/specials today to learn more about these options or call our team at 866.405.3638 for help deciding what might work best for you, your list and your budget!
  8. Invite them into the conversation.  Savvy agents are firing up their social media strategies on Facebook, Twitter, LinkedIn, YouTube and Pinterest and inviting their community of followers to join in the conversation.  Create a Facebook page for your neighborhood farm and post community information that’s relevant to your buyers and sellers such as school information, local business information, fun facts and more.  Agents are breaking out their iPhones and creating video walking tours of area hotspots, news for the week, reviews of local businesses, types of homes to look for in their area and all kinds of fun and interesting information.  Pinterest has people pinning and posting all about staging ideas, inspirational quotes, homes in the area, community events, blog posts and more.
  9. Follow up.  Break your list up into manageable numbers and commit to follow up calls every week.  Most experts recommend scheduling a daily appointment with yourself to prospect.  Don’t underestimate the value of face-to-face connecting as well.  Community events, school functions, networking opportunities and just being active in the community that you service will help keep you visible, allow you a chance to arrange follow up conversations and ask questions, be the resource people need and you will generate referrals in the process! It can be as simple as letting them know that you are there to help anytime.
  10. Lather, Rinse, Repeat.  Well you get the idea.  Treating your database as the saleable, valuable resource that it is means not putting it away for 11 months out of the year.  Commit to these ten strategies monthly and your career will thrive – and you won’t have to always be wondering where your next commission will come from.

Need help?  Call us at 866.405.3638.  Our team of marketing professionals can help you put your plan in place for success. 

How to Build a Smarter Book of Business

By Julie Escobar

This year, we’ve talked a LOT about data. Big Data. Smart analytic data. Specialty Nielsen Prizm data. Geographic data based on radial search technology.  Demographic data selects such as age, gender, income, and property data.  We’re working hard to ensure that we can be your trusted resource for all of these data sources and then some.

On thing that has to start with you, the agent, however, is your sphere of influence database.  It’s truly the foundation for your business – and it is the difference between always chasing new commissions, or having a reliable, consistent referral base you can count on.  Want to build a business that is strong, sustainable, and competitive and that you can sell when you’re ready to retire?  Start here.  Now.  Long before the end of the year – and you’ll help yourself to get on track to average more transactions per year, every year.

Think about this –if you had 250 people in a database that you consistently stay in touch with and who you develop a RELATIONSHIP with, then who will they call when they have a real estate question, need or referral?  YOU.  If just 10% of those folks listed, sold or referred you per year, what would that mean for your income?

“But building a database is HARD!” (Ever hear that one?)  It doesn’t have to be and it doesn’t have to be done all at once, but what it does need to be is a consistent part of your weekly business habits. NOT having a sphere of influence list is hands-down, the single biggest obstacle to agent success.  Not having a database you can market to will keep you in the not-so-fun cycle of always chasing new business, without the benefit of ever gaining any traction.  And think about this – if data inputting is an issue — there are lots of college kids still home for the summer that would love an opportunity to make a few dollars just for a few days work of inputting your data.

If you knew that statistics show that one in every twelve people in your SOI will either do business with you or refer business to you each year… would you take the time? Would you find out how many people you need in your sphere to hit your goals in the new year? soi-calculator

 

 

 

 

 

 

 

 

 

 

 

Do you know YOUR number?  You can calculate your sphere of influence here.

Now, where to start?  Pick a date to work on it and commit.  Open a spreadsheet on your computer or tablet. Or choose an online database management system.  Then ask yourself (and answer) these 30 Questions:

1. What are the names of the members of your family?

2. What are the names of your spouse’s family?

3. What are the names of your “extended” family?

4. What is the name of your best friend?

5. What is the name of your spouse’s best friend?

6. What are the names of your very close friends?

7. What are the names of your spouse’s very close friends?

8. What are the names of your children’s friends’ parents?

9. What are your children’s teachers’ names?

10. What are your children’s coaches’ names?

11. What are your children’s principals’ names?

12. What are your children’s dentists’ names?

13. What are your children’s doctors’ names?

14. What are your children’s optometrists’ names?

15. Who cuts your children’s hair?

16. Who sells you your children’s clothes?

17. Who is on the PTA Board at your children’s school?

18. Who is your children’s Sunday school teacher?

19. Who cuts your hair?

20. Who does your dry cleaning?

21. Who does your pedicures, manicures, facials?

22. Who do you purchase gasoline from?

23. Who services your car(s)?businessbase

24. Who do you buy tires from?

25. Who sold you your current car(s)?

26. Who have you purchased cars from in the past?

27. Who cleans your car(s)?

28. Who is your mailman?

29. Who do you know at your church?

30. Who do you see at the convenience store you most often go to?

Next, add every customer you’ve ever had.  Add the neighbors. Add old business colleagues.  In fact, click here to get a copy of our BusinessBASE™, download it at no cost and read it thoroughly.  On page six you’ll find 150 questions like the ones above that you need to ask yourself to build a sphere of influence list of at least 250 people.   It will also tell you all the fields you will want to set up for each contact such as name, community-newsaddress, email, occupation, etc.

Then take ACTION.  Start a touch marketing campaign to these folks every 21-35 days. A great way to start?  Send our done-for-you newsletters every month. They’re designed to be eye-catching, informational, and are filled with direct response offers that get results.  Or consider a series of postcards such as holidayrecipe postcards, customer appreciation cards, or listing inventory cards that will keep you top of mind, take just minutes to order and send and helps you incubate each person on our new list until you have the opportunity to see or speak to them.customer-app

And DON’T wait until you have all 250 or more in your list to start.  Remember that old saying by Arthur Ashe?   “Start where you are. Use what you have. Do what you can.” Momentum doesn’t just happen. You have to get started somewhere.  If you only get 25-50 people put into your book of business this month. Start sending to them.  Or Make it a goal to just put 100 in this weekend.

Follow up!  The BusinessBASE™  will also share with you a powerful SEND-CALL-SEE approach to following up with your list.  The 20 year value of a client is roughly $49,647.  With that number in mind – how many people do YOU want to put in YOUR book of business?

Get started today!  Click here to download your copy of the BusinessBASE™  and start building your list this month.  Then head over to our Master Marketing Schedule to see how you can stay top of mind with these VIPs all year around. Need help? Call us at 866.405.3638 today or click here to see what other agents are using successfully right now and take advantage of special savings offers.  

Building a Book of Business

By Brian Fox, Benutech

Loyal supporters are important for any business not only survive but to also thrive. Be it Coca-Cola or Pepsi, each brand has their loyal returning supporters. Ford vs. Chevy, for years parents all across the U.S. have raised their kids on one side or the other of the “truck fence”.   Think Dallas Cowboys vs. Washington Redskins.  New York Yankees or Los Angeles Dodgers. For my English football fans… is it Manchester United or Liverpool FC for you? These brands initially attracted our interest, then kept us by providing us with identity, entertainment, and valuable life moments. And at the end of the day – it doesn’t matter what brands or teams you support, the IMPORTANT part for whom you support, is that you SUPPORT. Dallas Cowboy fans purchase Cowboy gear, game tickets, and spend money at the Stadium which makes the Dallas Cowboys significant revenue.

So as real estate agents, how do we develop loyal followers and that highly desired significant revenue that comes from a loyal group of supporters? When looking at the root of loyal support, the brand or team being supported is delivering an image or something of value to their supporters. The more they deliver that value, the more supporters they receive. So what can we deliver that will create followers that support and build a large referral book of business?

Let’s assume the position of the typical homeowner…
Access to MLS? No.
Access to assessor, loan/transaction history, sales comparables? No.
Understanding of what to consider before down-sizing? No.
To build our Investor supporters… The location of distressed homes that may sell soon? No.

I think all too often, real estate agents take for granted all we know, and all we have access to in this industry. One of the most valuable assets you have as an Agent is your knowledge about real estate itself, real estate terminology, real estate transactions and the real estate market around you. All of which is super valuable to homeowners. Be their resource and they will support you and your business – no different than Coke, Starbucks, or DirecTv.home-price-analysis

Think about it: Homeowners are constantly doing calculations on “What do I owe?” vs. “What’s my home worth?” The difference represents “money in the bank”.  Zillow and similar sites have developed a poor reputation for delivering those answers. Homeowners don’t like paying property taxes – can you provide them knowledge on what an assessment is, and how to possibly lower their taxable assessments? Can you offer homeowners insight on what steps go into purchasing a second home or investment property? You are the real estate expert, Mr. Homeowner is not, and so you can better answer questions like free-comparitive-market-analysisthese. And best yet, these opportunities represents the chance to meet homeowners so that you can get to know them. On your next postcard mailing… think about Neighborhood update postcardsusing a message like… “What’s your home worth?” – “I know, and I would love to help answer that for you”. “Considering Purchasing a Second Home? “Let me help you with understanding costs and qualifications”. “Property Taxes Too High?” “Let’s evaluate your assessed value vs. market value and see if we can lower them.” Important questions for homeowners, and valuable answers that you are best qualified to provide. ProspectsPLUS! does a great job of providing the tools you can easily customize and send to get your message out such as their Call to Action series and their Neighborhood Update Series. 

To build a supporting group of Investor clients… What causes homeowners sell quickly with less desire to make top dollar in the sale of the home? For starters: Death, Divorce, Mortgage and tax defaults all lead to quick sales. And many times, they are distressed sales. When a homeowner passes away, the heirs tend to be more concerned with quick money from the sale of the home, estatemore so than top dollar. Oh, and they don’t want to do home improvements prior to listing the home for sale – which add to the perfect opportunity for investor clients. Mortgage or tax defaults are similar… The default is an issue that creates a “quick sale” scenario that is way more important than receiving the highest price available in the sale. The result is the perfect opportunity for you and your investor supporters. These types of “life event” information (death, divorce, defaults) tied to property is not easy to locate – but for the agents that do, the opportunities are endless. Think about this in your next mailing… “Looking for off-market properties that have a high chance of selling quickly?” – I know where they are located. Next question: Who do you mail these types of postcards to? The mailing addresses of the investors that already own investment property in the immediate area. These mort-defaultfolks already own investment property – so what better pool of folks to get to know with this valuable data that only you have?

ProspectsPLUS! makes this messaging easy for you with their Life Events postcards that correspond to our data mining tools.

Hopefully I am not the first to tell you…. when looking to deliver “items of value” to create a loyal group of supporters, it’s not a “hot cooking recipe” or “note pad” with your mug shot on it. Those are simply items that remind the homeowner you exist – but they don’t provide anything of significant value. I have never entertained making the “Spiced Rum Cake” that came in the mail from a Realtor – have you? But if you could help me locate an off-market property that I have a better chance of acquiring at a less than market price or if you could confidently tell me how much money I have in my “housing piggy bank” (equity) – I start to become your follower, your supporter, and I help you build your supporters via recommendations and referrals.

As your loyal group of supporters builds… regular valuable information will be the key to keeping their support. Offer them pricing updates on their home, information on market trends based upon recent sales and recent listings – all information they want to know. Offer them off-market opportunities (from new “life events”) as new ones pop-up. It’s interesting and it’s valuable, and if they are interested in finding a great deal on another home – they will support you as their agent.

As an Agent, you have access to some really great sets of information – use it.

Brian Fox is Vice President of Business Development for Benutech, Inc.. Benutech is the creator of the award-winning ReboGateway property data product that identifies which properties across the Nation have divorce, mortgage defaults, tax defaults, death affidavits, probate filings, bankruptcy filings, FSBO, estate sales, or empty nester scenarios present. This valuable information allows agents to quickly identify which properties have the best chance of listing/selling soon. Work smarter, not harder. (www.ReboGateway.com)

Need help using the postcard tools referenced in today’s post? Call our team at 866.405.3638 or visit our site today at www.prospectsplus.com.