Saturday, November 18, 2017

How You Can Beat the Odds

By Real Estate Speaker and Trainer Todd Robertson

There are many factors that lead to success in this business, and of course, many that can stop an agent in their tracks. This week, I wanted to share some of the biggest factors agents face when trying to dominate in a geographic farm, why 90% of agents fail and what they can do differently than their competitors to come out on top.

1. Fear and Uncertainty. In today’s world, fear is unfortunately an all too common and powerful headline that garners attention thanks to mass media. HOWEVER, in the real world of listing and selling real estate, consumers don’t want fear and they don’t want uncertainty. They want and need an agent who comes from a place of 100% clarity and certainty. They want an agent who is respectful, responsible, competent and CONFIDENT. They need to know that the person handling this big transaction in their life has everything it takes to ensure their best interests are cared for. Be that agent for them by ensuring that you have the right tools, systems, training and marketing plan in place.Market Dominator Marketing Newsletter

2. Money. The old adage is true, it takes money to make money and marketing effectively costs money.
Consistently. And that’s not something everyone is ready, willing, or able to sign on for. However, to brand yourself as the turn to agent in your geographic farm, there’s really no way to get around spending marketing dollars. Fortunately, you can spend smarter by using systems that are designed to capture market share while utilizing budget-saving tools such as Every Door Direct Mail. Our Market Dominator System does just that – and it allows you to send the very largest possible marketing piece acceptable for EDDM – 12×15, and puts you literally in every door in the geo farm of your choice for just $1 each. That’s smart marketing.

3. Impatience. One thing that seems to stop many agents from developing a successful farm is their inability to hang in there for the duration. When they don’t get instant results from their marketing, they give up. I get it. I walked in those shoes as an agent as well. But one and done mailings or marketing is never ever going to result in establishing a dominant position as a competitor.Market Dominator Marketing Newsletter back What does that? Consistency. Repetition. Showing up month after month after month. That’s the winning formula.

4. Becoming a “Victim”. You know the drill. The ones who get sucked into the market doom and gloom around the office coffee pot and buy into other agents’ ideas of why your marketing or theirs just “doesn’t work”. Stop. Stay in your own lane in terms of mindset. There will always, always, always be people who want to drag you down, tell you that you can’t accomplish something, or root you in negativity.

It’s up to YOU to stay focused on your WINNING formula of skill building, market-savvy tools and systems, and consistent, repetitive follow up and let others worry about their own track to success.

5. Not Having a Campaign. What’s the old Ben Franklin saying? “Fail to plan and you’re planning to fail?” It’s true. Without a viable marketing campaign plan in place, you have no way to gain traction in a market area. That’s why our Dominator Members commit to sending their 12×15 Market Dominators every month for two years – because they know that’s what it takes to truly own a market. To become THE brand in a geographic farm. They also know that if left to their own devices, most agents would have a tough time consistently researching, creating, and producing a powerful, direct-response marketing piece all on their own every single month. So they work smarter, not harder, and tap into a system like the where it’s all done for them.

6. Bogged Down in Busywork. Top agents know the highest and best use of their time is prospecting, presenting, and closing – not all the minutiae of busy work that can easily, and effectively be delegated to a virtual assistant or admin. It’s easy to be super busy being busy and not making any money. I know, it’s less intimidating to spend a day trying to design your own postcard than it is to pick up the phone and call until you get a listing appointment – but which one will get closer to those goals you just set faster? Delegate. Use systems. Use pre-designed, time-tested tools that are done for you. And yes – pick up the phone!

Give yourself your best shot at developing a geographic farm. Lean into a powerful mindset of certainty and confidence and put a strong campaign that works in place so that you can effectively brand yourself in that farm as the agent to call. If you need help with that, I’m happy to share some additional strategies. Email me (todd.robertson@prospectsplus.com) and let’s talk.

Need help? Contact our marketing team at 866.405.3638. They’re incredibly knowledgeable, and ready to help get your geo farming and all your marketing on track to close out this year stronger than ever! 

The Right Dialogue is the Key!

As we head into the holiday’s, now is the perfect time to sharpen your negotiating skills and polish your pricing techniques, the following are 3 powerful closing techniques to try. You know that old Floyd Wickman saying, “Worse than no listing is a listing that won’t sell.”  Make sure yours are priced to move and you’ll not only be a hero to your sellers, you’ll set yourself up as the agent to call in your marketplace.

3 Powerful Closing Techniques to Try:

1. Don’t Help the Competition: 

Overpricing your home in today’s market can actually help sell other listings. Explain to your seller to put themselves in the shoes of the buyer.  They’ve got an agent and they’re looking at listings that are priced at market value, show well and have motivated sellers.

If they look at your home and a comparable home and all things being relatively equal, in other words, both are 4 bedroom, 3 bath, 2600 sq. ft. homes and both show well but yours is $50,000+ above market value, which home is going to look more attractive to them when it comes to a bottom line decision for their family?

In fact, when it comes to choosing their property, if your home is overpriced, you’ve just made the lesser priced home look perfect by comparison.  They can feel good about their decision of getting the same sized home for less! You can also pull comparables from your MLS to show real world applications of this.

If the seller overprices their home today and it goes online via the MLS and your multiple web listing portals, their home won’t even have the benefit of SHOWING up when consumers search by price.

 They’ve just priced themselves right off the internet search – eliminating the possibility of that 85+% of consumers who start their search there.

2. The Four Sales: 

A great Floyd Wickman strategy is to use the following dialogue: You know we’ve covered the comparables – the research that I showed you with the prices of the other homes like yours that have sold recently in this area and I know you want to list it at the higher price. I’ve put a lot of thought into it, and you know if we went ahead and put it on the market at your price – and I was the only one that had to be sold on that price – well I guess that would be fine. But in reality, there are actually four sales that have to be made in order to sell your home at that price.

First…I have to be sold and I’ve gotta tell you – all I can go by is the CMA facts and figures that I showed you.

Secondly…the other agents have to be sold on showing your property at that price – otherwise they’re simply not going to show it to their buyers.  Unfortunately, they get their numbers the same way I do – from what’s recently sold in the area and those same CMA numbers.

Thirdly…and this is a big one – the buyers.  Let’s just pretend we sold the agents on it.  Now we’ve got to convince the buyers to pay a higher price for a property when there are other homes like it that are selling
for less.

Unfortunately in today’s world and with the internet, buyers have access to the same information that we have here.  They know what homes are going for in this area.  So that’s going to be a tough sale, don’t you think?

Now let’s just say everything lines up and somehow we even sell a buyer on paying more for your property than we know its worth in this market. We still have one more sale.

Fourth…there’s the lender.  Lenders use exactly the same formulas we do to determine Fair Market Value for a property before they’ll write a loan. Are you familiar with Fall-Throughs? Yeah, fall-throughs are what happens when people are thinking just the way you were thinking about pricing higher and the sale can’t go through because the property won’t appraise for what you’re asking for it. And that’s not what you want right?

3. Empathy vs. Reality Close: 

This dialogue comes from our friend, Coach Gord Gerrie. I understand how you feel Mr. and Mrs. Seller and there is no doubt, many others have felt exactly the same way you do right now. However, what they found was that once they had sold their house and focused their attention on their new home, they understood that the reality of accepting the offered price really only amounted to a few dollars more per month on their next home.

Again in reality, by accepting this offer today, you will know that your house is sold and that the difference between what you had hoped for and what you will receive will amount to less than $X per day in your new home. Would you let $X per day stand between you and the home of your dreams?

Want to learn more ways to grow your business?  Join us on our Facebook page or Google+ page today.

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 MerchandisingReviewTHUMB
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 PricePyramidTHUMBthrough 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:

mailing

  1. Choose High Income Consumers for luxury or investment property.investor
  2. 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.
  3. Look to High Income Renters for high quality first time home ownership options and communities that are high in amenities, low in upkeep.  lifestyle
  4. 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.
  5.  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!
  6. Empty-nesters are a great segment to market for downsizing move upopportunities.  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. 

Tools You Can Use…

By Julie Escobar

Back in the DAY…(ever notice how people always say that about what they did ions ago?) I used to love working with First Time Home Buyers.  They were excited, eager,  a little nervous and usually very appreciative of an agent’s experience and help.  Today’s consumers (even the newbies) are a lot more savvy than they used to be but I still find this niche a great source of prospects (and referrals) for agents today!

One great way to attract First Time Home Buyers is by hosting Home Buying Workshops in your market.  Many agents find that holding them at the local libraries, schools (many PTAs or PTSAs would be happy to include a segment in one of their meetings for valuable information!)  In many areas, you’ll find clusters of higher end apartment complexes that you could easily target for first time home buyers.

You can even use our mailing list options to specifically search for high-end renters and create a marketing database to connect with this demographic.

Couple up with a mortgage lender and real estate attorney to help spread the word and bring more value to the table.  I’ve even known agents who invite local restaurants (especially start ups that are trying to market themselves as well) to bring in sample appetizers or refreshments in return for letting them share their contact information or coupons as well!  In today’s world, this kind of smart, intuitive shared networking is making a big difference for a lot of agents.

We’ve got a terrific free report just for agents that’s filled with lots of ‘goof-proof’ tips on how to host a
successful workshop!  We’ve even got ready made postcard invitations that you can send out in a matter of kissyourlandlordgoodbyestdthumminutes!

It’s easy to use and easy (and free) to get!  Click here to go to our Resource Page – scroll about half way down the page until you see “Free Consumer Workshops” – then just click download!  Easy, breezy!  While you’re there – also download “How to Save for a Down Payment” which is a great piece to share with those folks who WANT to buy but aren’t quite ready to just yet.  Having your mortgage lender there will be very beneficial as you can help folks sort out where they are NOW in relation to what they need to purchase a home.

Be sure to get everyone’s contact information – then put them on a drip direct mail campaign every 30-45 days so stillrentingstdthumbthat when they are ready to purchase – they’ll know JUST who to call.  Our First Time Buyers Series is perfect for that.

They really speak to the questions that these folks already have in their heads and keep you top of mind.  I always like to use the alternative back on the postcard to write a little more information and create some calls and response by offering a free list of homes, list of foreclosures, additional home buying tips, local school information, etc.  All great reasons for them to stay connected with YOU!

If you are hosting an event in your market – be sure to share that information on your social media networks, and in the rental communities you are targeting.  And if this is the demographic you want to OWN in your market, consider setting up  a Facebook page so that you can really continuously share news people can use relating to buying a home and your market.  Don’t JUST talk business though!  Share information about your local economy, schools, community garage sales, tips about new restaurants or businesses in the area.  You can spotlight standout community leaders, kids who are making a difference, teachers, local heroes, specials you run across, testimonials from happy customers and more!

Need help getting started? Call our team at 866-405-3638 today.  They’re smart, knowledgeable, friendly and here to help you suceed!