Check out our first-place $250 Gift Card winner & our second-place $100 Gift Card winner below!
1. Congratulations Kim Gregory Adams on winning our first place $250 Gift Card!
Kim shared the following feedback with ProspectsPLUS!.
“I just used ProspectsPLUS! to send out a COVID-19 Series postcard. It was a cute idea and I like that ProspectsPLUS! mailed the postcards out for me.”
Need help targeting the perfect niche of buyers or sellers? Use our prospecting list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
There seems to be this weird dichotomy that rules many real estate agents: that the money they spend promoting their business cuts into the amount of money they’ll have for personal use.
In the short-term this may be true. But if you plan to be in the real estate business for the long-term, not promoting your real estate business, or not promoting it well, is crazy.
You’ll remain on that hamster wheel, spinning and spinning and spinning in your efforts to earn more.
“Too many business owners under-spend on marketing, thinking that not spending is the same as saving,” claims Heidi Sloss, author of “Fortune is in the Follow-Up: Five POWER Strategies to Grow Your Business.”
While it’s an old and somewhat tired adage, it really does “take money to make money.”
I Have a Buyer panoramic postcard, Get More Listings
What comes first, the spending or the making?
Almost a decade ago, the folks at ActiveRain.com published the results of a survey of 2,000 agents in the form of an infographic, “How Much do REALTORS® Work, Earn & Spend.”
The “average” agent (those earning, on average, $35,000 a year) spend only $1,070 a year on marketing. That’s $89 a month. They spend more on their car than on promoting their businesses.
Agents who earn, on average, $100,000 a year spend five to ten times more on marketing than those that make $35,000 per year.
It’s easy to assume that “Well, yeah, they have the money to spend.” It could be, however, that they understand the value of promotion and aren’t afraid to spend the money.
Let’s face it, there are a number of money pits in the average real estate practice, from keeping up with the latest technology to what we drive and what we wear.
The truly important stuff, however – most of what’s in your business plan – is where to focus if you’re looking for ways to gain more clients and grow your business.
Activity in Your Neighborhood panoramic postcard, Get More Listings Series
So, while it’s important to invest money in continuing education, professional development and ensuring you have the office systems in place to make your job easier, none of it means a thing without clients.
Overcome your fear
Remember the scene in the motion picture “Ghost,” where Whoopi Goldberg’s character is forced to hand over a $4 million check “to a bunch of nuns?”
She struggles with her mandate to hand it over, claiming to “just want to touch it one more time.”
Finally, at the point of almost hyperventilating and with tears streaming down her face, Oda Mae hands the check to one of the nuns, but then refuses to let go. A tug-of-war of sorts ensues until she finally releases it and dissolves into sobs.
Is that not exactly what you do in your mind when it comes time to part with your hard-earned money? Especially in a commission-based business, parting with money is frightening. Who knows when you’ll close another escrow? What if you make the wrong marketing decision?
It’s only natural then that you might question whether any particular investment is really the right thing to do. Marketing dollars are especially hard to spend. What if the campaign doesn’t work? What if I lose this money? These are perfectly valid questions as you tenaciously hold on to your dollar.
One of the best ways to overcome the fear of spending is by paying close attention to the annual budget every year when you revisit your business plan. Once the money is budgeted, consider it spent.
Then, make careful, informed decisions about where to spend the money when it comes time to do so.
The bottom line is that if you really want to succeed in your real estate business, you’re going to have to spend some money on it – whether it’s on marketing, staff or technology.
So, overcome the fear and lose the death grip on the pocketbook.
Big Question panoramic postcard, Get More Listings Series
Send the Big Question panoramic postcard from the Get More Listing Series. Take advantage of budget-friendly EDDM and make your presence known in an entire neighborhood.
Need help targeting a specific niche of buyers or sellers? Use our Demographic Search Tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
PLUS: When you have time…here are some Free resources we’ve made available to support your success.
1. The Free Real Estate Mailing List Guide
The Real Estate Mailing List Guide outlines the top tools for generating targeted prospecting lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here
2. The 12 Month Done-For-You Strategic Marketing Plan
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, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here
3. The Free One-Page Real Estate Business Plan
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 our one page Online Real Estate Business Plan. – Click Here
4. Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
5. The Free Online 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
6. The Real Estate Marketing Guide “CRUSH IT”
The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here
COVID-19 has changed much of what used to be considered “normal life.” In cities that have relaxed restrictions, dining out may involve having your temperature taken at the door. Shopping may require that you wear a mask and follow arrows pasted on the floor, directing traffic.
The future is at the top of many minds. Even if the world recovers from this pandemic, and gets back to normal (or something close to it), the lessons we’ve learned will be forever ingrained in our consciousness.
Home, family, taking care of our health – have all become even more important.
While the real estate market appears to be very much like it was before the pandemic’s outbreak, with low interest rates luring buyers into the market and home values holding steady, attitudes of real estate consumers have changed.
We are told to expect an exodus from the cities to the ‘burbs and perhaps even rural areas. The downsizing craze is over, we’re told, and homebuyers want more square footage. Outdoor spaces and specialty rooms (office, gym, etc.) are on the lists of those buyers who can demand them.
Most of all, many Americans who were isolated by distance from family during the lockdown, crave closeness.
Life Event Series, Changing Needs postcard
Especially older Americans and most especially those who live alone.
While one of the primary reasons baby boomers sell their homes is so that they can move closer to their adult children or friends (23.5% according to the NAR), we think the social distancing we’ve endured will see many, many more choosing this option.
Boomers in the real estate market
Older homeowners naturally have more equity in their homes, according to NAR’s 2020 Generational Trends report. The average equity earned of sellers age 22 to 54 is nearly $45,000. Baby boomer sellers, on the other hand, have, on average, $74,300 in equity.
The homes they will sell have at least three bedrooms and 2 bathrooms (many, however, boast three bathrooms). While on the market, boomer homes experienced far fewer price reductions than the homes of younger sellers.
More than one-fourth of younger boomers have lived in their homes for 21 years or longer, while 35% of older boomers can say the same.
Younger boomers who purchased another home after selling their current home chose a slightly smaller home, while older boomers, on average, chose slightly larger homes.
Finally, baby boomers make up nearly half (46%) of the seller’s market.
How to reach this group of home sellers
Boomers love YouTube. But, before you race out to create real estate videos for this demographic you need to understand that they probably won’t watch them.
Their use of YouTube is as a sort of TV-on-demand platform. According to data from Think with Google, the most-watched categories by boomers include “… entertainment, music, and news.”
The best way to reach this cohort and engage with them is on Facebook. Pursuing organic reach, however, may be futile, according to BigCommerce.com.
Life Event Series, New Memories postcard
“With organic Facebook reach hovering somewhere between two and four percent, many brands struggle to gain impressions and engagement on the platform,” according to the site’s Ethan Giffen.
The solution, he says, is Facebook ads. Yes, they cost money. But it’s one very effective way to reach the group that has a higher net worth, is most likely to want to move and sells more homes than any other.
OK, so maybe Facebook ads are a bit pricey for your budget right now. Consider direct mail as a budget-friendly, highly effective alternative.
This is a generation who grew up with mail as a major form of communication to friends and family. They still enjoy receiving mail and are more likely to read what they receive than the younger generations.
But you need the right message
To send the right message requires that you know your audience. Earlier we gave you a bit of insight into their real estate habits. But to effectively market to the group requires digging deeper. Baby boomers, by and large are:
Active
More internet savvy than they’re given credit for
Independent
Not “old”
In fact, dump the word “senior” when referring to this group. Use “baby boomer” or “older American” if you must. While not all are offended by the term “senior citizen,” many are.
Overall, they value useful information. This might include local market activity, a CMA, news on mortgage rates and helpful home maintenance tips.
Need help targeting this specific niche of sellers? Use our Demographic Search Tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
PLUS: When you have time…here are some Free resources we’ve made available to support your success.
1. The Free Real Estate Mailing List Guide
The Real Estate Mailing List Guide outlines the top tools for generating targeted prospecting lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here
2. The 12 Month Done-For-You Strategic Marketing Plan
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, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here
3. The Free One-Page Real Estate Business Plan
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 our one page Online Real Estate Business Plan. – Click Here
4. Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
5. The Free Online 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
6. The Real Estate Marketing Guide “CRUSH IT”
The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here
If you think that nobody foresaw the economic and emotional turmoil that the pandemic of 2020 has wrought, think again.
A Netflix series, filmed in 2019, not only predicted a pandemic but narrowed it down to a coronavirus. To say a series titled, “Pandemic: How to Fight an Outbreak” was prophetic would be an understatement.
Unfortunately, we’re not virologists, pulmonologists, chief science officers nor do we work in the Special Pathogens Program, so we had no clue what was coming.
Now that we’re knee-deep in it, with a few weeks or months of not generating income, we’ve learned some hard, financial lessons.
To avoid them in the future, we’ve rounded up some of the best advice we could find.
Quote Series, Travel the World postcard
Do you have a business continuity plan?
Because agents are small business men and women it amazes me how many lack a business plan, or don’t consult the one they have.
The business plan is the roadmap for your business and should contain a continuity plan (or, “Plan B,”) for slow periods. Pay close attention to the marketing section of the plan during this planning.
Marketing should be one of the last tasks to cut, yet many agents slash it completely when times are tough.
Then, ensure that it contains a continuity plan – a document that details how your business “… will continue operating during an unplanned disruption …,” according to the pros at IBM.com.
Ensure your plan accounts for a short-term economic slowdown as well as a major downturn.
How’s that emergency fund?
Good for you if you have one. Many Americans don’t. “By saving anywhere from three to six months of expenses (expert recommendations vary), an emergency fund cushions a sudden reduction or stoppage in income and gives breathing space,” according to Utpal Dholakia Ph.D., at PsychologyToday.com.
Quote Series, Home postcard
Start small, if you must, but direct a certain percentage of each commission check to a dedicated emergency fund savings plan. You do it for your quarterly tax payments, right? Do the same for you and your family.
Keep filling the pipeline
Now that you have a business plan you should be able to easily identify your marketing budget in a “Plan B” scenario.
The least you should do under these circumstances is keep in touch with your Sphere, but it’s important to keep filling the pipeline with new leads as well.
Yes, money is tight right now, but it’s possible to do some pretty stellar marketing at very low cost. Check out our Real Estate Marketing on a Tight Budget blog post for ideas.
Keep your marketing messages (to both your sphere and pipeline) more helpful than salesy and as uplifting as possible. Yes, show your expertise, but in a low-pressure way.
Lockdowns are easing at various rates across the country and agents are getting back to work.
Don’t forget the financial lessons we’ve all learned during the crisis. Be prepared for anything.
Quote Series, Not How Much postcard
Send the Not How Much postcard from the Quotes Series to your Sphere.
Let them know they’re in you’re thoughts.
Need help targeting a specific niche of buyers or sellers? Use our prospect list tools to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
PLUS: When you have time…here are some Free resources we’ve made available to support your success.
1. The Free Real Estate Mailing List Guide
The Real Estate Mailing List Guide outlines the top tools for generating targeted prospecting lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here
2. The 12 Month Done-For-You Strategic Marketing Plan
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, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here
3. The Free One-Page Real Estate Business Plan
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 our one page Online Real Estate Business Plan. – Click Here
4. Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
5. The Free Online 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
6. The Real Estate Marketing Guide “CRUSH IT”
The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here
