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Thursday, April 3, 2025

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. 

Inspired Insights from World-Class Real Estate Speaker and Coach Darryl Davis

by Julie Escobar

When you are looking for straight-talk strategies for building not just a business — but a successful book of business, it’s always a good idea to go to someone who not only knows how to help agents succeed at exceptional levels — but one who just tells it like it is.  For that? I reached out to my old friend Darryl Davis. He’s an Darryl Davis 06author, speaker, trainer, coach — and one of the funniest guys you can talk to.  His analogies and ability to weave a story into a message are epic. It’s part of what makes him such an effective speaker – it’s also why I wanted to interview him for this topic!

Q: Hey Darryl, thanks for sharing your insights with us again for this edition.  Our focus this time around is really building a strong business base.  Can you share some thoughts on  that?

A:  Building a business?  You know I’m a FSBO/Expired guy – but when we are talking about building a business foundation?  Know that there are two types of contacts to focus on.

First there is your geographic farm.  These folks don’t know you yet, so it’s your job to help them with that.  For this group, you’ve got to stay in touch monthly.  Your nov-domname, your face, your brand, your results each and every month.  Of course, you guys make that easy for them with products like the…

You’re building trust and establishing yourself as the agent to call.

Secondly, there’s your sphere – or those folks that know your name, face, what you do, and trust you enough to do business with. This breaks into people you haven’t worked with before, (family, friends, acquaintances) and those you have (past sellers or buyers).  For these folks to remember you, remember that you’re in real estate and that well, you know, they should call YOU before the guy down the street when they have a real estate question or need or an amazing referral, you need to stay in touch. I usually recommend at least 4-6 times per year with this crowd with things like:thanksgiving2016v6thumbsstnd

I’ll give you a great tip:  Every single January I’d send a copy of the HUD statement to everyone who has every purchased a home through me in the last year with a note saying, “Congratulations on owning a home! I’ve taken the liberty of making a copy of your HUD statement so you have it handy to give to your
accountant.  Hope things are going great! I’d love to hear from you if you need anything.”  Wow – see you just saved them time and stress and made a contact that personal to them. Win-win-win.communitynewsnovthumbsfront4

For every other client/customer of mine? At the first of the year I would send an updated market analysis to with a note that said something like, “Just as you would check your stock portfolio, 401K, etc., it’s also a good idea to do a check in on the market analysis of your home investment.  As always, I’m here to help if you have any real estate questions or needs!”

Stay top of mind with these folks by sending them something to help them stay connected to you and recognize that you’re there as a resource. And don’t be shy about picking up the phone and saying hello and asking if people need anything a couple times per year.  Or creating opportunities to see them in person.

Q: Darryl, I loved your message in our last magazine where you talked about listing INVENTORY being the name of the game, not just listings. Can you share a little more about that?

A:  What I’ve been teaching is that agents need to look at their business as if they were running a store.  With a store, you’ve got a location, employees, and you’ve got to stock and manage your inventory. So, say you were selling candy?  You must have enough candy on the shelves when customers come in right?  Otherwise people are going to buy their candy somewhere else! So if you’re a real estate agent your inventory is real estate.  I tell agents to make a chart January-December on the bottom andneighborhood update series the numbers 0-20 on the left side.  Next, plot it out. Say your goal is to get four listings per month and build your inventory.  Now you have get four listings in January, but you sell two. You know you need to replace those two, plus get four more for February and so on.  Creating a visual to see whether your graph is going up (the right direction) or down (further from your goals) helps you think like a business person.  And that? Is a big key to success. Because there are a LOT of agents running around with a fly-by-the-seat-of-their-pants approach to their real estate career – which is fine if you want to always wonder where your next commission is coming from or if burn out is your thing. But top agents who want to be at this a long time and have a lot to show for it, understand that applying true business practices and mindsets is the win-win they need.

Q: You hit the nail on the head.  One topic that seems to come up a lot with agents is the idea that they just don’t have the time to focus on databases and marketing and details!  What would your advice be in terms of time management?

A:  First, I would tell them to be crystal clear on their priorities.  In real estate, it’s easy to get distracted with things that don’t forward your business.  I’ll tell you a little story. There’s a woman named Rachel Lust who is a Hula Hooper.  If you look her up on YouTube, you’ll see she has hundreds of thousands of views and likes. She did the halftime show for the Chicago Bulls.  She is the most famous person in the world of hula hooping.  She’s got a line of videos, hoops, clothes, you name it.  Do you know what Rachel does for two hours a day, six days a week, no matter what?  Yep. She Hula Hoops.  Why? Because literally NOTHING else matters if she’s not good at her trade.  It’s the same with agents.  If you aren’t prospecting, looking for listing inventory, and taking new listings – the rest doesn’t matter.

I’ll give you another example.  I ran the NYC Marathon. Now here’s what you might not know about me:  I HATE exercise.  Hate it. Five days a week, I had to get up in the morning and run, and one day a week I had to cross train. For five months, I had to do this.  Didn’t want to do it. Didn’t feel like doing it. It was uncomfortable. For me to meet this commitment I made, and log in the two hours of running every day, I had to get up two hours earlier to make it work.  Here’s the thing: I couldn’t fit running into my life, I had to fit my life around the commitment to run.

That’s how you’ve got to look at what it takes to make it at high levels in this business.  You see the agents that say, “I’ll get to prospecting after I check my Facebook, and my emails, and my this or that.” Time management is not the problem there.  Commitment is the problem. Everything you need to do lines up behind the commitment.

Say you’re having a party.  That means there’s cooking, cleaning, preparing all that has to be done. But you’re running late–right? Now you say you’ve got two hours of work to do in just thirty minutes.  Do you do it? YES!  That?  Is a BREAKTHROUGH. Because when you REALLY have to get something done you do it.  Manage your activities, and what dictates those activities is your commitment. People who are passionate about commitment don’t have time management issues. They are focused, clear, and committed.  They don’t just do commitments – they are commitment.

Q:  What additional advice do you have for agents who want to really knock it out of the park this year in real estate?

A:  That one is easy. Systemize your business.  Run it like a business.  Think like Rachel Lust. She has moves that she has absolutely mastered with that Hula Hoop.  Then she masters another, and another. It’s like dancing. If you only know five dance steps – you don’t look so good out there on the floor-right? In real estate there are definitely some dance moves to master. Moves like…

  1. Prospecting
  2. Listing Appointments
  3. Customer Service
  4. Working (playing) with Buyers (I call this a break from real work)
  5. Negotiating offers
  6. Use of metaphors and analogies (these are what set you apart – give you distinction)

All of these moves take commitment, solid commitment. Figure out what you real commitment is. What you really want to accomplish, then let everything else line up behind that goal.  I just caution you to make it more about the people – the lives you help – rather than the money. When you do it right and your passion is for the people you can help, the money comes.

Awesome stuff Darryl. Thanks for sharing.  If you’d like to learn more about Darryl’s training courses and products, please visit www.DarrylSpeaks.com – and read his bio below.

About Darryl Davis

Darryl became a real estate agent at the age of 19 and quickly climbed the ladder to become a top producer, averaging six transactions a month. He became a licensed broker and manager of a new office that became the #1 listing and selling branch within its first 6 months of operation. He’s been named one of the highest-rated speakers at the National Association of REALTORS® convention for the past several years and is the ONLY real estate speaker who is a best-selling author with McGraw-Hill Publishing for his book, How to Become a Power Agent in Real Estate. He is the founder of The POWER Program®, a yearlong real estate coaching program that has proven results of agents doubling their income over their previous year. He’s also the creator of the nationally acclaimed three-day program S.U.R.E. Results, where agents generate an average of $33,504.82 over their previous year. And as creator of the nationally recognized term “Next Level®,” Darryl strives to bring his students and attendees to their “Next Level®” of success by training them on how to have more fun and less stress in their business and personal lives. To learn more about Darryl and his training tools and services, visit www.DarrylSpeaks.com, or contact him at 1-800-395-3905.

To learn more about staying in consistent touch with your sphere and farm (as Darryl teaches), visit www.prospectsplus.com, or call our support team at 866.405.3638 today. 

 

Then Putting the Who, What, and When Together

By Julie Escobar

As we head into the final months of the year, a lot of agents are already wisely getting into planning mode. One sticking point that stumps a lot of real estate professionals is building the right marketing lists to fuel their pipeline of business.  Let’s take a look at some simple strategies to put into place:

Sphere, Farm, Niche – it’s the real estate agent’s version of lather, rinse, and repeat.  Success in this business stems from staying in touch, staying positioned, and top of mind for the folks in all three.  I’m often asked by agents, “Where do I start?” The obvious is ‘the sphere’, aka – your sphere of influence or book of business.

Now, if I had a dollar for every agent that said ‘no” when asked if they had ever taken the time to actually put their sphere (those people that already know you, like you, trust you, and would do business with you) into a database, I could buy a very large piece of property – like an island or something! So don’t let yourself fall into THAT category! Savvy agents understand that their best customers, are the ones they’ve built and nurtured relationships with consistently.  Who should be in in your sphere?  Family, friends, neighbors, colleagues, past clients – and all those folks whose lives you touch and touch yours back. businessbase

Sphere:  For a list of 250 people that SHOULD be in your book of business, download a pdf of our BusinessBASETM at no cost today.  Then make THIS the week you make putting YOUR sphere into a working, viable, referral-generating database.  Need help inputting all the data?  There are lots of college students home for the summer already that would be perfect for that kind of task.  Or hire a Virtual Assistant for the project.  Your highest and best use of time is prospecting, presenting, and closing – so gather up the data – and delegate it to someone to make it happen.

Four great marketing pieces for your sphere:

  1. Holiday postcards – there’s something every month that can be sent as a friendly hello.
  2. Recipe cards – many agents swear by these as customer ‘keepers’.
  3. Newsletters – these powerful tools are perfect for connecting with your sphere.
  4. Content cards – these are content-rich, consumer-friendly postcards filled to the brim with valuable information that people love.

Farm:  Pick an area – but not just ANY area.  I asked Coach Todd Robertson for a little how-to advice for map my mail dataagents on choosing the right farm area for them.  He shared, “I work with a lot of agents to help them really fine tune what area they want to market.  Even if you find a geographic farm that you think works for you location wise with commission-friendly price ranges, you still need to be mindful of two other factors:  The turn-over rate, and the competition.  Ideally, we want to help position you to receive a 20% market share in a geo farm. If you start in a farm where another agent already has that or higher, you’re going to work much harder and have to be at it longer to see the results you’re seeking.  Finding an area where any one agent has less than 10% market share is preferable, or if you see an area where a previously aggressive agent has slowed or stopped their marketing.  In terms of turnover rate, ideally you want a one that is at least 10-15%.  You can easily determine the turnover rate by dividing the number of homes in the farm by the number of homes which have sold.”  That’s a great starting point.  So take a snapshot of your market area – look at the neighborhoods that may fit that criteria close to you, then use our MapMyMailSM system to easily capture mailings lists from those areas.  You can choose a radial search by address, or choose to search by zip code or counties. Talk to your broker, look at your options – then map out your marketing list! Once you have that – then remember to stay CONSISTENTLY in touch with these folks – month after month.    For a great read and more tips from Todd – read The Smart Scoop on Geographic Farming.

Three great tools for connecting with your farm:

  1. Neighborhood Update/Free Offer series: People want two things: to know the agent they work with can get results – and that they have the resources they need.  These cards present you as the agent with both!
  2. Listing Inventory Series: These postcards speak to the mindset of potential sellers with the right questions and direct response offers.
  3. The Market Dominator: For agents serious about dominating a geographic farm and earning a 20% market share.  This powerful, direct-response piece is 12×15 and attention grabbing.  It also takes advantage of Every Door Direct Mail, so the cost is even more affordable.

Niche:  Top agents don’t stop at just marketing to a sphere and farm. They specialize in a demographic that resonates with them.

Here are some ideas for working a niche:pp demographic search data

  • Investors: Use our MapMyMailSM – choose the demographic search option, then custom, then choose records with a household income of $150,000 or higher.  You can also look for REI or REIA websites to learn more about real estate investors.   Use our Investor Series postcards to reach out to these lists each month.
  • FSBOS & Expireds: There are great services such as LandVoice that offer data for FSBOs & Expireds in market areas all across North America.  Use our 7 Series for FSBOs or Expireds – send 3-7 postcards in rapid succession (every 3-5 days) as soon as you see a new prospect for these demographics, offer a free report such as 5 Factors That Cause a Property Not to Sell, and follow up after you’ve sent the postcards with a direct response offer.  Offer to perform a Merchandising Review to ensure that the home gets sold for the best possible price in the fastest possible time.
  • First Time Home Buyers: Use the MapMyMailSM system to find local renters.  Offer a variety of free reports such as How to Save for a Down Payment, or Top Ten Checklist for Choosing an Agent. Send our First time home buyer/renter series of postcards monthly with a fair trade offer to connect.
  • Seniors: You can use that same MapMyMailSM technology to find Baby Boomers and older.  Send our Senior series of postcards to these fine folks!
  • Get creative: From motorcycle enthusiasts, to local sports team members, to boaters, to farmers, and everything in between.  Finding the group of people that you really connect with and would love to serve and work with is a great way to get continuously better as an agent and build a powerful referral network.  You can edit our holiday, inspiration, recipe, content cards, or even image series to alter your message for each and every demographic.

We also have powerful Specialty Data Selects Using Nielsen’s PRIZM Codes available on the site to help you tap into incredibly detailed data segments to help make their marketing easier – and more effective. What is PRIZM segmentation? According to Nielsen, “Segmentation links your customer data with household-level and neighborhood-level demographics, syndicated survey and primary research data to reveal exactly what types of consumers are currently using your products or services. Any customer files, lists or survey data with complete addresses or at least a ZIP code can be coded with Nielsen’s segmentation systems. This allows you to identify your best prospect segments with the greatest efficiency for effective marketing strategies that align with marketplace demands.”

Smart, right? So what does that mean to YOU as a real estate professional? It means that marketing just got more interesting. See our Nielsen PRIZM options here.

For all three marketing avenues – your sphere, farm, and niche – be sure to connect every 28-45 days consistently to ensure that you maintain that top-of-mind awareness.  Armed with your database and marketing materials, and a reminder system to FOLLOW up with the folks in each will give you the competitive edge in your market that will allow you to develop and maintain a long and prosperous career.  Ready, set – GO!

Need help getting started? Contact our marketing professionals today at 866.405.3638.  They are an amazing resource – and they truly care about your success.  Happy Listing!

 

Relationship Marketing Insights with REALTOR Maggie Dokic

By Julie Escobar

Through every conceivable type of market, one thing has always held true in our industry:  it’s a people business.  Call it what you will, mdokicsq-1sphere of influence or book of business, it is the process of staying connected and nurturing those relationships that will garner agents the highest potential for new business and referrals year after year and allow them to stay out of the “where is my next commission coming from” cycle.

To talk about why this is so important, I sat down with long-time ProspectsPLUS! Customer Maggie Dokic to find out what she’s learned through the years.

This is an excerpt from our interview:

Q:  Maggie, can you first tell our readers a little about yourself?

A: I’m a broker owner of a small real estate brokerage in Miami. I am technically a “competing” broker but only because I do sell to my own clients, not because I compete with my agents for business. We all lead generate and create our own business.

Q:  You’ve grown your team and your business considerably through the years, what do you think are the key components to building a solid book of business?

A: Fostering relationships with those who know you and staying in touch with past clients. It’s a known fact that it costs considerably more to get one new client than it does to stay in touch with one you already have. It makes financial sense to do so, plus it’s a natural extension of my personality to stay in touch with past clients!

Q: How important is marketing for you in terms of staying competitive and driving new leads?

A: Whether you’re marketing yourself or your brand, it’s important to ALWAYS be marketing. If you’re not?  Someone else is.

Q:  What ProspectsPLUS! marketing tools are you a big fan of and why?

A: I love the Just Listed postcards and how quickly they can be ordered. I’ve also really been wanting to try the new Market Dominator mailing. It looks amazing. I’ve had a challenging year this year due to personal responsibilities which have prevented me from expanding my real estate business. But it’s on my radar and as soon as my schedule settles down a bit, I’ll be looking into it further.md-nov

Q:  How often do you stay in touch with your sphere of influence?

A: On average it’s at least once a month with a scheduled email, but in reality probably more than that because much of my sphere I see in person either at church or personal events. And a large portion of my sphere is also connected on social media such as Facebook so I connect there as well.

Q:  What activities in your marketplace do you do consistently to support your marketing efforts?

A: Facebook ads for our new listings, open houses, and just listed/just sold postcards.  They all work to drive extra traffic to our site and phone calls.

Q:  Do you have a niche that you specialize in?

A: I’m a firm believer that it’s best to be a specialist and not a generalist. It dilutes your efforts if you try to be all things to all people. That said, my only niche is probably geographical in that I won’t go all over the county for business. I prefer to refer it to one of my agents or a colleague if it’s “too far” for me. Also I do not do commercial real estate, although I have agents who do. I personally prefer to concentrate on residential real estate only.

Q:  What advice do you have for fellow agents eager to create a strong foundation and career longevity?luxury cards

A: Real estate is about lead generation. If you don’t generate new business, you can’t expect to make it through the long haul. Pick at least three lead generating systems and stick to them. For example: Just Listed/Just Sold postcards are a great way to market you, your brand, and your listings.  Staying in touch with your sphere should definitely be another must-do.  ProspectsPLUS.com provides a whole spectrum of marketing tools to stay top of mind with your sphere, without breaking the budget.  And once you’ve sent those mailers?  Pick up the PHONE. It’s the least expensive, and most effective thing you can do. It’s a lot easier calling someone you know rather than a FSBO who doesn’t know you and is likely annoyed at all the agents calling her! Not to say FSBOs aren’t a good source of new business – they are!   

I would also say to focus on one thing at a time and don’t be a secret agent. This is Real Estate 101. Reach out to those who know you and like you, and let them know you’re in the business (or remind them you’re still in the business). People prefer to work with someone they know, like and trust and that’s where you gain the upper hand. Make sure your contacts know you are there for them. And be genuine in your approach. My monthly mailings remind them I’m in real estate. My phone calls, texts, Facebook posts and note cards are short, sweet, about building the relationship – and NOT about real estate are always appreciated. When you do all of these things – when they are ready to list or sell or know someone who is, I know they will remember I’m the real estate professional for them.

Q: You’ve also used a lot of Every Door Direct Mail™ while growing your business – what made you make communitynewsnovthumbsfront4that decision?

A: The cost of EDDM made me realize it was a smart business decision. Knowing that I could reach about three times the number of people for the same cost was a no-brainer. We once mailed to 1,002 homes and the day after the mailers were delivered I received my first call from a homeowner considering selling.

Q:  How can readers reach you if they’d like to send a referral your way?

A: We’re available at www.SpecialMiamiHomes.com and info@SpecialMiamiHomes.com.

Thank you so much Maggie.  We appreciation your generosity in sharing your experience!  You’re terrific and we wish you all the very best.

Want to learn more about driving your business forward, staying top of mind, and growing your referral base? Head over to our Master Marketing Schedule for a steady stream of tools, tips, techniques and ideas.

Need help getting started? Contact our team at 866-405-3638.  

 

An Interview with REALTOR Eric Hardy

by Julie Escobar

As we head into holidays and turn our eyes towards the new year ahead, I was eager to get back to some basics by sharing agents stories of best practices for building solid businesses.  Customer care and attention to detail are two factors that are critical keys to success for top performers.  To tackle that topic, I touched base with my old friend and awesome agent Eric Hardy who put customer care on the top of his priority list. Here’s an excerpt from our interview:

Q: Hey Eric – thanks for sharing with us today.  Before we jump in, can you tell the readers a little about yourself?

A:  Yes, I am 45 years old, married, and a father of two. I have been in the wedding business for over twenty years, and recently decided to go back into real estate after a 15 year break. I currently work for Dennis Eric HardyRealty in Lutz, Florida.

Q: You’ve recently re-entered the real estate game. What do you feel is the most important strategy for fast-tracking a successful first year ahead?

A: A positive attitude, a genuine love for what we do. You have to enjoy your wok because it shows to people when you do, and when you don’t. We get to help people with a major event in their life.

Q: How are you building your sphere of influence and staying top of mind with them?

A:  Nowadays social media is key, and understanding the power of it. Along with keeping in touch with people with even just a simple phone call to see how they are. I always tell everyone what I do for a living. When they think real estate, I want them to think of me.

Q: What advice would you give other new agents for hitting the ground running?

A:  Get as much training and education as you can, knowledge is power. Be humble and listen to advice from jl-cards-2people older and younger. And most importantly put the time in, and try new things till you learn what works best for you. Don’t skip on the traditional marketing tools that work either.  Just Listed and Just Sold postcards always have been a staple in our industry for a reason — they work. They help market you as an agent, your listings, and your business.

Q: Do you belong to a mentor or networking group in which you can share ideas?

A:  I work for a great company. We all sit at a round table once a week and discuss marketing plans, odd questions and different scenario’s agents come across. This way when we see a new situation or issue we are prepared.

Q: You were in the wedding business, are you transitioning those clients and customers into your sphere and do you see a niche market there for yourself as an agent?

A:  Yes, absolutely. Most of my couples once they are married their next major life event is usually buying a home. After working with me on their wedding they see that I am competent, intelligent and easy to work with. I want their home buying experience to be a stress free and fun, the same as planning their wedding. There are bumps in the road you may run into, but we are here to help you through that. And thank you for thanksgiving2016v6thumbsstndletting me be part of your big day, and part of a major event in your life.

Q: How important is servicing and staying connected with your customer base to you?

A: It is crucial. One thing I really liked about the REALTOR that helped me buy my home, is he still keeps in touch. I get an email at least once a month and every holiday, and occasionally see him around town and he is genuinely happy we love our home. I strive to give that level of customer service everyday.  Monthly postcards, phone calls, and social media make it easy to stay in touch in today’s world. Your customer base is going to be your strongest line of referrals. Always take good care of them even when the transaction is completed, stay in touch!

Q: Are you working a geographic farm? If so – what are you doing that’s working?free offer door hanger

A:  For me I work best face to face with people. I love to knock on doors, talk to people in my area. I get into conversations with them, and have even made friends and have gotten to know some really great people. The person in front of you may not be buying or selling, but if they like you they will put you in touch with anyone they know who is. Treat every person with kindness, people always do business with people they like. We are not just trying to find the next “sale” but building a career helping good people.

Q: How can people reach out to you with referrals?

A:  I am always available by phone or email, seven days a week. You can reach me anytime at 813-770-2150 or at Hardysline@verizon.net, if you just have a question I can help you with.

Thanks Eric for your time and your advice for what’s working in your corner of the world! Agents love to learn from other agents. I so appreciate your sharing your experience.

Need help marketing YOUR real estate business?  Contact our team at 866.405.3638 today or visit www.prospectsplus.com. 

3 Steps to Showing Up & Creating a Connection

By Julie Escobar

Raise your hand if you’ve ever sent a marketing mailing to a list of folks that don’t know you yet and got discouraged when you didn’t get a call.  It’s frustrating for sure, but it is also one of the biggest marketing mistakes an agent can make. One and done has never been a recipe for success and in today’s world of over media saturation, it is certainly not the time to re-test that theory.  Bottom line? Branding takes TIME. Repetition. Consistency. And follow up.

That’s the heart of farming, and just like traditional farming, the success goes to those who systematically oct-16-dominatorplant the seeds, cultivate the crops and later reap what they have sown. Then repeat the process for as long as they want to continue to effectively farm.  For agents the process is much the same.

Step One:  Stake your claim. Start with a plot or a geographic neighborhood area that is…

  • Starting to see turnover
  • Has a high homeowner vs renter ratio
  • Does not have another agent already dominating market share
  • Has a price point that makes sense for your area

Step Two: Plant the seeds. For effective geo-farming, your monthly marketing should…

  • Capture people’s interest
  • Offers valuable content and fair trade itemsNeighborhood update postcards
  • Present you as the neighborhood specialist and real estate expert
  • Showcase your consistency and professionalism

Three of the most popular tools that many customers use to do this effectively are our:

Step Three:  Follow up. The best agents aren’t leaving anything to chance. They know that just as their marketing tools are the ‘seeds’ for market share success, they must also cultivate that farm with personalized attention.  Here are some great examples of cultivation activities:

  • Walk your farm area with powerful collateral material. Our Market Dominator customers use their extra 20 Dominators. You can also use Free Reports or offer to do a Free Comparative Market Analysis.
  • Set up a meet-and-greet either at the local community center, library or even coffee shop to let neighbors in that area know you are there with answers to their questions.
  • Use a gentle approach. Instead of the “have you thought about selling your house” as your opening line, just introduce yourself. Let people know you’re in the area. Explain that during this changing time, a lot of people have questions and you just wanted to let folks know how they can find the answer when they need them.
  • Invite to an open house. Once you get a listing, be aggressive about hosting open houses in that neighborhood and inviting all the neighbors in.
  • Have some fun connecting! Bookmark our Master Marketing Schedule today and see all the fun and creative ways you can make a GREAT impression on the folks in your marketplace and have a great time doing it.

Once you’ve done all three, start over again.  Branding and earning market share is much more of a long game – a marathon rather than a spring.  But in the end, you’ll reap what you sow.  Keep consistent.  Talk to people. Make your face and name they think of when the idea of real estate pops into their head. That way? You are positioned perfectly as the one to call when they are ready to buy or sell or know of someone who is.

When should you start?  The sooner you do, the sooner you’ll start seeing results.  Plant those seeds.  We can help.   Call our team at 866.405.3638 today or head over to www.prospectsplus.com and get started!

For the Next Master Marketing Magazine

by Julie EscobarMasket-Marketing-Magazine-3D (1)

Calling all ProspectsPLUS! Customers!  We’re thrilled to be currently compiling new content for the fifth edition of the Master Marketing Magazine.  We are interested in interviewing five to seven of you to be featured as contributors to share your experience as real estate marketers.  Our magazine goes out to approximately 40,000+ agents and brokers across North America, offering the potential for referrals and exposure.

We are interested in interviewing agents who are…

Any of those things sound like you?  Then reach out to me today for an interview! All chosen contributors will be featured in the January magazine and will receive:

  • $100 ProspectsPLUS.com gift card
  • 10 Magazines to use in your marketing
  • A chance to be featured alongside some of the best coaches and minds in the business
  • Referral opportunities across North America

If you’d like to read the last edition — Experts and Insights online, visit here.  If you’d like to be considered for one of the limited contributor spots, connect with me via email and let’s set a time!

Need more assistance?  Contact our team at 866-405-3638 or visit us online at www.prospectsplus.com. 

Real Estate Agent Success

Insights from the Front Line with Ramona Williams

By Julie Escobar

When it comes to knowing EXACTLY what real estate professionals, and specifically our ProspectsPLUS!
customers want and need to grow their businesses in today’s market, I knew that there was one person who would be perfect to interview. My closest friend and always one of the smartest people in the room, our Director of Business Development, Ramona Williams.  With both an MBA and more thirty years of experience working with real estate agents and brokers, she’s the go-to resource for insights and ideas.

Here’s what we learned:

Q:  You are on the phones with customers every day, where do you think agents are needing the most help in terms of marketing their businesses and their listings?

A:  Consistency – hands down. That’s honestly where most agent’s marketing breaks down.  One and done listing inventory snapshotmarketing doesn’t work, never has and never will.  Secondly, what hurts agents is having no strategy at all.  That’s not a new problem of course. That’s historically where agents fail to grow their businesses, and why so many don’t make it.  Unfortunately, the majority of agents try lots of little things, including whatever the “shiny new idea” is in the office at the moment and never commit to anything consistently.  The result is they end up all over the place in terms of the message they are sending out into their market, and they’ll actually spend considerably more money trying every new thing that comes along than they would if they just put a solid, strategic plan of tested direct marketing that works in place and stuck to it.  Consistently sending branded, direct response marketing every 21-45 days to a sphere and farm is still the best means of driving results in our industry.

Q:  We’re seeing a huge rise in agents using EDDM® as a means to strategically market for less – what is your take on that and what advice do you have for others eager to do the same?

A:  I think Every Door Direct Mail® is a terrific way for agents to cover a large geographic area because of the Dominator April 16lower postage costs.  It makes it really affordable for agents to get back to those basics like working a geographic farm.  What I really like about seeing agents return to geo-farming is that it helps them focus their marketing efforts. For a long while we saw agents just chasing the next deal. They’d follow internet leads wherever they took them – sometimes driving hours to take a listing.  EDDM helps them to find a geographic market area that makes sense for them and literally get in every door. When used consistently, it creates a much more predictive business and income model than constantly chasing new business.  Here’s what else I can tell you – the great agents get that. They know that it’s not only OK to be in control of their marketing and business, it’s a must if you want to create a consistently growing business with commissions and referrals you can count on.  I think so much of the time you see agents who look at the business of real estate as risky to start with or unpredictable because it’s commission based.  So their mindset is that their business is supposed to be all over the place, or unpredictable as well.  Savvy agents know that real estate is a business and can be a very lucrative one if they treat is like it is and work a plan.

Q:  What product do you see the most demand for in today’s market?

A:  I’d say in most areas of the country inventory is still historically low, so agents are looking for any vehicle that can help them get listings.  So we’re seeing a lot of EDDM, Just Listed postcards and Just Sold postcardsjl js cards (which are great for pulling double duty – marketing the listing and the agent), our Market Dominator, Listing Inventory cards, FSBO and Expired tools, and our Neighborhood Update/Free Offer cards. The last take a little more work to input the listing data, but it’s what consumers want to see, and they make direct response offers, so they work.  Again, it’s getting back to taking control of your marketing.

We are also seeing an uptick in agents struggling with pricing listings correctly and that’s where your eBook 21 Ways to Get Your Listing Priced Right the First Time (Despite the Seller’s Objections) is a terrific tool that’s really affordable and filled with the kind of objection handlers agents need today.

Q:  You and I go way back in this business – we won’t say how far!  How do you think the market has changed and what do you think agents can do to best get in front of those changes and be competitive?

A:  You know, surprisingly, it really hasn’t changed all that much.  Our business is and always be cyclical.  What is different, of course, are the amount of technology options agents have and how many different organizations are selling to them.  Many of which are amazing and game-changing solutions for agents, no doubt. It does, however, make it really easy for agents to take their eye off the ball and look for that “magic pill” that will skyrocket them to success.  While that’s understandably tempting, the keys to being the top in your field is the stay focused, build inventory, price listing right, have a strategic plan, and find areas you really enjoy working and stay the course.

Q:  Excellent advice! You work with top producers and high volume teams quite a bit as our Director of Business Development.  What are some factors from a marketing perspective do you think they deploy that allow them to continuously rise to the top?

A:  Much like we just talked about, top teams and top agents don’t roll the dice with their results. They build their businesses exponentially by putting systems in place so things don’t fall through the cracks and understand and implement the power of consistent marketing.  In other words, they don’t wait and they don’t shy away from marketing at high levels.  They prioritize immediate lead generation, but they also have systems that allow them to build their brand and their businesses long term.  They are also typically service-minded professionals.  They take excellent care of their customer base, and communicate effectively and often with their sphere and farm.  That’s smart business.

Q:  Awesome. Any last words of wisdom for the readers?

A:  Well I guess I would say that this is truly a great industry where people can make an excellent, lucrative living that is relatively affordable to get into with a strong return on investment.  I would tell them to be strategic, consistent and be mindful of who you model yourself after.  You and I have both seen, countless times, agents who have been in this business 3, 4, 5 – even 10 years or more in this industry and have never put a sphere of influence database together.  While some may do all right at that, it makes you really wonder where COULD their business be if they had put that basic but so important piece in place? That’s a lot of missed opportunity and money left on the table.  I’d challenge agents to not do the same.  Get back to the basics.  Have a plan. Use strategic, consistent marketing (both in terms of timing and branding) to build your inventory, price them right, follow up, and take care of your book of business and your farm.

As always, you’re a tremendous source of advice for today’s professionals. What’s great for our customers to know is that you’ve done such an amazing job of both training and managing our support and marketing teams that they have incredible skills and insights as well and are wonderfully adept at helping agents and brokers figure out the best plans for them, and helping them strategically implement those plans every day.  Kudos to you for that!  Thanks for sharing!

If you’d like to connect with a member of Ramona’s team, you can call them at 866-405-3638 or email us at pmc@prospectsplus.com.  They are eager to help make your job – and your life a whole lot easier!

Getting the Inside Scoop to See If EDDM is Right for YOU and Your Business

By Julie Escobar

Wow.  We’ve had a lot of calls recently about this powerful (and affordable) service now provided by the U.S. Postal Service.  It allows you to literally get in EVERY DOOR in a geographic area for as low as 18.3 cents in postage per piece.  But there are a LOT of questions out there – and a lot of folks unsure about which way to go in terms of getting their message in the right hands to help brand themselves in a market.  So I put on my fact-finding hat so that I could give you guys the inside skinny on some things you need to know about this service to determine if it is really right for you.

Fact #1:  According to direct marketing statistics, businesses which get the majority of their clients from within a 3 mile radius of their office are:  REALTORS®, mortgage brokers, insurance agents, dentists, chiropractors…(the list goes on – but did you catch that first one?) Love that!

Fact #2:   This is the most cost-effective means to deliver your message to an ENTIRE market area.  As a SATURATION mailing tool – you can literally send up to 5,000 pieces each day (to be delivered to EVERY SINGLE mailbox on your chosen carrier route) still pay no more than 18.3 cents in postage per piece.

Fact #3:  There is no postage permit necessary – only the required indicia which is fairly small needs to be placed on your mailing piece.  (We’ve got that for you- no worries!)

Fact #4 – You don’t need a mailing list.  This is a biggie!  One of the toughest components that agents find in building their book of business is developing their LIST.  While it IS one of the best practices you can ever do to build long-term referrals and keep your customers and clients calling YOU back for the duration of your career – it is a stumbling block for many.  So while you’re waiting to get your list together (go ahead and hire a broke college kid to start data entry today – they need the money and you need a database!) – the EDDM™ system is the perfect way to start branding yourself and discover NEW PROSPECTS to put into your sphere!

Fact #5:  You can send standard mail flats, irregular parcels, periodicals, and bound printed flats.  But – your
Dominator April 16mailing piece cannot be more than 15′ long, 12′ high and .75′ thick.

Fact #6:  The common mailing pieces for EDDM™ used by REALTORS® are newsletters, open house postcards, just listed postcards, just sold postcards, introduction/neighborhood specialist announcements or workshop invitations (first time home buying seminars, short sale seminars, workshops for seniors, renters. buy workshops, etc.)

Fact #7:  You can select whether or not you want your mailing delivered to P.O. Boxes and Farm mail routes!

Fact #8:  Your mailing will saturate every consumer within your carrier route AND  it can also include delivery to businesses.  However – you CANNOT just send to businesses.

Fact #9:  When choosing your carrier routes – remember to choose WISELY.  With this system – you must mail to EVERY home on the carrier route.  So it’s important to look at the market you want to saturate and budget accordingly.  If your route has 1,000 homes in it – then you’ll need to provide mailings for every home.  The average carrier route has about 250-500 homes in it.  When using the carrier route selection tool from USPS – we always recommend ‘de-selecting all’ first – when you get to that screen so it doesn’t pull up every route in your zip code (that can be a little intimidating!)  Then, based on YOUR budget, you can choose the carrier routes in your market with the number of homes you can comfortably afford to send to repeatedly.

Fact #10:  To piggyback on #9, while this is a much more affordable mailing option for most agents, contentremember this is still direct marketing.  So if you can only afford to (or care to) send a mailing ONCE to an area – then it will more than likely not glean you the results you are looking for.  Keep that 3-7-27 rule in mind.  It takes 3 impressions for someone to recognize your name, 7 impressions to put your name with your business and 27 to become a ‘top of mind’ brand name in someone’s head.  So better to mail to 300 people ten times for example than to send one mailing of 3,000 if you want to build that awareness and trust.

Fact #11:  You’ll need to include a form (PS Form 3587) with your mailing that identifies the carrier routes, number of homes in the route, etc.  It’s a government form so – while it’s a little mind-boggling – it’s not too bad!  (And with our service we’ll even fill it out for you so no worries!)

Fact #12:  Your mailers have to be bundled and banded in groups of 100 and include a “facing slip” on each bundle.  So that’s not a lot of fun – but again – we do that for you if you like.  Besides – you’ve got to think about those delivery folks!  Can you image if you gave them one giant stack?  Yikes!

Fact #13:  If your best target market is actually in other cities or states, you can use Priority Mail® to ship your Every Door Direct Mail mailings to the Post Office in that area.  How cool is that?  This is especially helpful if you are working with vacation properties or investors.

Fact #14:  You have OPTIONS.  Whether you’re an all-hands-on-deck kind of person and want to do everything yourself or whether you just want to choose your mailing piece, pick your routes and have the rest all done for you – we’ve got a solution that works for you, your market and your budget.  Learn more about how Every Door Direct Mail – just click here!

Fact #15:  You don’t have to do it BY YOURSELF.  The truth is, this is an exciting and affordable opportunity to saturate a market with your message but there are variables, budgets and geographic areas to consider.  Sometimes (all right – most of the time) it’s good to have another person to help walk you through the process.  Our EDDM specialists have the experience and knowledge to do just that – just give them a call at 866.405.3638.  They’re happy to help. 

Hope that helps!  Happy marketing!

A Guest Post from Our Friends at ReboGateway

Brian Fox, VP Business Development, Benutech, Inc.

We live in a world today where we know where we are going before we even get there – and life is easier and better because of it.  The best restaurants, stores, and shops can be located online, reviewed on various sites such as Yelp, viewed on a map, and if we want we can even see the front of the location using a street view before we arrive.  In other words, there are very few mysteries in area of direction in today’s world… we can very easily know before we go and for the most part, it’s how we roll.

Yet for some odd reason, this know before you go mentality has not been used in real estate as often as it should.  Most Realtors, seem to market into geographic areas or to family and friends… as in the people closest to where they live, or closest to where they work.   It’s random, it’s best known as the “shotgun approach” to marketing, and it’s like heading to a new spot in your city without reviews, maps, or direction. It was how it was done in the 1980’s but why so today?

Real estate coaches throughout the U.S. seem to be on board with the know before you go mentality.   Seems every coach I have ever read or heard, is focused on finding areas that are selling (areas of 7% turnover rate or higher per year), and then coach their students to market into those areas for better marketing results.  Turnover rates or other “reasons to sell” such as divorce, mortgage default, or empty-nester status are all available… and easily accessible.  So why in 2016 should we market from Front St., to Market St., between Main St. and South St. when we could be marketing to owners that have reasons to sell their property?

To illustrate this point, let’s take a quick look at the wonderful city of McKinney, TX.  It happens to be the city that CNN Money named in 2014 First Place for “Best Places to live in the U.S.”  The U.S. Census Bureau also named it the fastest growing city from 2000 – 2003 and again in 2006.  The Realtors in McKinney obviously have a lot of selling points for their fine city and the sellers in McKinney should be in a good position to profit from these accolades if they choose to sell.

But let’s use data to take a closer look at the city… There are 15,187 rooftops in McKinney, most of which are single family residences.  For most Realtors, it’s not possible to market to all 15,187 of those residences.  There are just too many rooftops in McKinney, not enough funds in the marketing budget, and not enough time to accomplish marketing to each of those residences once per month.  So rather than marketing to all residences, or just the residences nearest you… can we find the needles in the McKinney haystack?  In other words, can we find the folks that have a higher probability of selling their homes in McKinney this year or next?  The answer is: Yes.

Homes in McKinney traditionally sell at rate of about 3.3% per year.  In the most recent couple of years, homes have been selling at better than 10% per year with the added popularity of McKinney. But newly sold homes rarely go back on the market and sell in the upcoming few years… so today, how do we find the most probable sellers for 2016 & 2017 in McKinney? The same way you use your phone to find the best lunch spot in McKinney.  You leverage information to know, before you go.

All Realtors can think back to listings they have taken and sold in the past and why they were able to acquire them.   A homeowner filed for divorce, and then they listed and sold their home to make an equitable split.  A mortgage default occurred at a property, you got the listing.  An owner passed away, then you got the listing.  Preceding most sales is a “life event” of some sort… and the life event may simply be the increasing age of the homeowner that then leads to their property selling.

Most life events are available to the general public.  Divorce, eviction, probate, bankruptcy, and mortgage or Real-Estate-Life-Event-Postcardstax default filings are all made public by courts.  When matched to owned property, it creates a database of homeowners that are much more likely to sell in coming years than their neighbors.  When homeowners decide to go FSBO, or have an Estate Sale to sell personal belongings prior to a move – they post the information online to drive traffic to the event.  Again, knowing these addresses provides a timing advantage to the Realtors that find them and market to them.

Let’s now get back to McKinney.  We have already discussed that there are 15,187 rooftops in the McKinney haystack.  A closer look at available information on “life events” in McKinney reveals the following:  There are 87 homeowners that have filed for divorce in the past 12 months that have not yet sold their homes. These folks may be going from 2 incomes to 1, and may need to sell.  They may have more equity in their property than money in the bank.  Either of those reasons could lead to the equity being liquidated by property sale in order to facilitate a fair split between the owners.  Statistically, 22.1% of couples that file for divorce sell their homes in the first 12 months after filing.  A good Realtor is going to be an important piece of that puzzle.

Also in McKinney, there are 32 homes with mortgage default filings in the past 6 months. Better than 50% of these will result in property sale within 12 months. Eight homeowners have filed bankruptcy in the past 6 months. Fourteen homes are trying to “For Sale by Owner”, but have not yet sold. Seven homes are in Probate.  There are also 1,498 homes with approved “Senior (Property) Tax Exemptions”.  Of those, 570 of them also have 4 bedrooms or more (large homes). These are your classic “Empty-Nesters”, and they sell property for many reasons.  The home may be too big for them now, the stairs are no longer a good idea, they may soon need an elderly care facility, or their passing may facilitate the home sale.

In each of these situations, it has been statistically proven that when these types of events occur, the properties associated to them sell more frequently.  There is no way of knowing that these events are occurring by looking at the street address or by staring at the outside of the home.  Life event data has to be matched to owned property, and when that match occurs, the results are eye opening.

ReboGateway, a product by Benutech, Inc., identifies and matches these types of life events and more to owned property.  ReboGateway allows Realtors to quickly identify probable sellers by “life events” so that they can be smarter about whom they market to and when to market to them.

So the next time you are in McKinney, TX or in your hometown, don’t just stop at any lunch spot. Use select data to know before you go.   In case you were wondering, in a state known for its barbecue, the best BBQ in McKinney, TX is Hutchin’s BBQ and Grill. It is ranked the 2nd best restaurant in the city and 356 reviews say it’s a “must go” as the “Best BBQ in North Texas”.  Similarly, the next time you choose to make yourself known to homeowners with your focus on acquiring new listings… find the addresses that are more likely to sell, and market consistently to those addresses.  The correct select data matched to a consistent marketing plan is how it should be done today and in doing so; Once again, life is easier and better because of it.

To learn more about using Life Event trigger data from ReboGateway to market in your area, watch our webinar on demand at blog.prospectsplus.com/rebogateway-prospectsplus-webinar-on-demand/.

If you’d like to learn more about how Brian and his team are helping real estate pros across North America use technology and systems to grow their businesses more efficiently and effectively, join us April 7th  at 1pm Eastern for a powerful new webinar – Everything You Wanted to Know About Every Door Direct Mail!

 

 

Insights and Strategies from Real Estate Coach Darryl Davis

By Julie Escobar

Since the dawn of real estate, it seems we’ve been hearing phrases such as, “Listings are the name of the game” or “List to last.” While those sayings are as true today as they’ve always been, we caught up with our old friend and real estate coach Darryl Davis to learn why “just listings” aren’t enough to propel your way to the top and stay there anymore. Today’s agents need to focus on building listing INVENTORY if they want toDarryl Davis 06 stay in the game and compete at the highest levels. Here’s an excerpt from our interview:

Q: Darryl, you’re teaching your students and coaching members that they need to step up their game in terms of building (and keeping) listing inventory. Can you share a little more about that with our readers?

A: Sure! First, I like to share the WHY – WHY it’s important to build and maintain listing inventory. I’m a big analogy guy, so I sometimes ask agents to think about their friends, family members or neighbors and what they make. You know, a lot of times you don’t know exactly how much other people make, but you have an idea, and sometimes you think to yourself, “I know I make more than that, but they have more than I do or don’t seem to struggle as much as I do.”

Two words explain that: cash flow. See, those other folks are usually salaried people with consistent income, so they can budget and plan their lives around that. In real estate, we don’t have that. Most agents run their business in surge-and-drought mode – right? But it doesn’t have to be that way. If I asked every agent reading this if he/she had a consistent $5,000 (or whatever your number is) every month, would it make your life less stressful? The answer is 100% yes.

Q: That helps put it in perspective, doesn’t it? So there’s the WHY. Can you tell them HOW building inventory solves their surge-and-drought problem?

A: Yes. I like to tell agents to focus on listing inventory rather than listings like this: Imagine you’re selling shoes listing inventory 2instead of houses. If you want to sell shoes for a living, you’ve got two choices: One is to get a store, some racks and some shoes, and promote your store… right? The second is to find a buyer who wants to buy shoes, put him/her in your car and drive around to every shoe store in town until he/she finds the perfect ones. Get the picture?

Here’s the thing: Every time you put a buyer in your car to show a listing that’s not your own, you’re basically taking that buyer to another agent’s “shoe store.” You’re essentially becoming an “employee” of sorts for that other agent. Bottom line? No inventory = no business.

Q: Great analogy. Can you expand on that?

A: Think of it like this: You’ve got six listings or, for this purpose, we’ll go back to shoes. So you’ve got six pairs of shoes, and you put four under contract this month. YEA, right? That’s terrific! Well yeah, it is – BUT dominator marchlook at your inventory. You went from six to two. When you close on them, you’ll have a surge of cash, of course, but if you don’t replenish your inventory, then you’ll head into a drought. To create continuous cash flow, you have to at least MAINTAIN or, better still, INCREASE your inventory.

Let’s say you’re brand-new, and you want to build inventory by one per month. You start out month one with one listing. Month two you get another. Month three you get another, but you close on one. So that means month three, you have to get TWO to make up for the one under contract and keep your inventory up. If the average commission is $5,000 per listing sold, and you start with zero and focus on building your inventory by one per month, you should be able to earn $100,000 within 12 months.

Q: It helps to put it in dollars and cents, doesn’t it? It’s more than just the money though – it’s about managing time as well, right?

A: Exactly. When you think like a businessperson instead of solely like a salesperson, you can balance your time. I’ll give you an example: I’ve got a student who earns a quarter million per year and takes two full months off every year to spend with family… two full months! Now if he owned a shoe store instead of a real estate business, would he close down those two months? Of course not. He’d hire a manager to handle things. In real estate, if you don’t have a “store,” or inventory, that can sell while you’re away, you can’t take time off. No inventory = no income, no time off. Lots of inventory = consistent income, ability to take time off.

Q: Love that… treating your business like a business. What a concept, right? Darryl, you’ve always been real estate fsbo marketing postcardsamazing at teaching agents how to succeed by marketing to FSBOs and expireds, but recently you’ve been sharing why it’s important to stay top of mind with a book of business and geo farm as well. Can you tell me more about that?

A: Because the worst of the housing market crash is mostly behind us, we’re going to see more and more people come into the market in the next few years. Because of that, it’s important for agents to have a consistent marketing campaign. People need to know your name, your face and what you do for a living. I still say working with FSBOs and expireds is a great way to generate listings fast – simply because they’ve already identified themselves as the hand-raisers. That said, think of your business like a wheel – the more spokes you have, the more efficient the wheel works. You eventually hit a point of diminishing return, or too many spokes, but it’s important to find the balance. One or two spokes isn’t enough to generate business momentum.

I’ll give you another example: I have a student named Marty who makes a six-figure income. He lives in South Carolina, but his business is on Long Island. He goes to Long Island once a month to take listings and meet clients. He can do that because one of his “spokes” is a mailing campaign that he sends out consistently to his sphere and farm promoting himself, his business and his listings – all while living in another state! THAT’S the power of staying positioned consistently with the right marketing tools.

Q: Wow! That’s incredible. One of the things our readers tell us is tough for them is following up. They’re either afraid of it (picking up the phone) or don’t make it a priority. Can you share some secrets to success in that area?

A: I would say focus on the activity rather than the results. Why do people fail? Because they don’t see immediate results. So they do what? They QUIT. When you switch your thinking to focus on the ACTIVITY, not the results, it helps you get past the fear.

Think of it like baseball averages. Ballplayers know the more times they get up to bat and take a swing, the more likely they are to get a hit. After a while of playing, they know their numbers… their average. The same is true in prospecting – you’ll get to know your numbers. So maybe out of 10 calls, you get five connects and two appointments. I tell my students that their goal should NOT be to get the appointment; it should be about building relationships. Why? Because it takes the pressure off.  Focusing on getting an appointment is a win/lose scenario. If you don’t get it, your reaction is, “I lost. I’m bad.” When you focus on building a relationship, every call is a win. The truth is, you’re not going to get an appointment unless there’s trust. By building relationships, you build trust – and the appointments will happen by themselves.

Going back to the last question, one of the things I like best about consistently sending out mailings is that it helps agents “warm” those calls – which makes follow-up easier, because you have something right off the bat to talk about.

Q: I love the title of your new book, How to Design a Life Worth Smiling About. I just downloaded it and can’t wait to read it! Can you tell us about it?

A: Absolutely. It’s got a lot of fun content in it, and people seem to love it. You know, I ask agents all the time, “When a homeowner lists their house with you, what do you think they want as an end result?” I get a variety of answers, of course. “To sell the home.” No. “To get the most money.” No.

Tune in, and take it all a step further. When you’ve been in the business a while, you’ll often hear homeowners say something like, “If these walls could talk.” They’re not selling a house – they’re selling their HOME. Shelter is the second most important thing to people. They’re leaving the comfort of shelter and going into an unknown. When you’re the agent who can tune into that and realize that every client you help is heading into a new chapter in their lives – and you are a part of that – don’t minimize the powerful impact. Great agents help change people’s lives for the better. When you get THAT… you’re no longer selling.

Q: Darryl, any last words of wisdom? 

A: The money we make is actually the thermometer as to how many lives we’ve helped. Focus on the lives you can help, and the money will come.

Awesome insights, Darryl. Thank you so much for sharing with us. I look forward to reading your new book and, as someone who’s known you more years than we care to count, I know all of your students, coaching members and audience members are fortunate to learn from you. Your ability to help people both laugh and learn is extraordinary.

About Darryl Davis

Darryl became a real estate agent at the age of 19 and quickly climbed the ladder to become a top producer, averaging six transactions a month. He became a licensed broker and manager of a new office that became the #1 listing and selling branch within its first 6 months of operation. He’s been named one of the highest-rated speakers at the National Association of REALTORS® convention for the past several years and is the ONLY real estate speaker who is a best-selling author with McGraw-Hill Publishing for his book, How to Become a Power Agent in Real Estate. He is the founder of The POWER Program®, a yearlong real estate coaching program that has proven results of agents doubling their income over their previous year. He’s also the creator of the nationally acclaimed three-day program S.U.R.E. Results, where agents generate an average of $33,504.82 over their previous year. And as creator of the nationally recognized term “Next Level®,” Darryl strives to bring his students and attendees to their “Next Level®” of success by training them on how to have more fun and less stress in their business and personal lives. To learn more about Darryl and his training tools and services, visit www.DarrylSpeaks.com, or contact him at 1-800-395-3905.

To learn more about staying in consistent touch with your sphere and farm (as Darryl teaches), visit www.prospectsplus.com, or call our support team at 866.405.3638 today. 

 

 

 

 

 

 

Real Estate Holiday Postcards

When Sending Your Season’s Greetings

by Julie Escobar

Planning on sending season’s greetings out to your sphere and farm over the next few months?  Great idea!holiday cards Staying in touch and top of mind never goes out of season.  Before you buy a card, stick a stamp of figure out where your mailing list is — consider these five holiday tips!

  1. Be clear about your message.  Even when you’re sending holiday postcards, you can use the reverse side to send a great message to your customer base.  If you are sending to both your sphere and farm, you may want to consider altering the message slightly for each. Make it personal and heart-felt, with a note of thanks for allowing you the opportunity to serve them as customers — or in the case of your farm – the community.  holiday postcards
  2. Serve two purposes.  Are you having a holiday open house? Customer event?  Charity drive?  Looking for a good time to stop by with a small gift? You can include that information on the cards as well.
  3. Don’t be salesy.  Holiday greetings are not about the sale – they are about the connection.  Keep it warm and personable.
  4. Don’t wait for just Christmas.  Many top agents send a holiday message once a month to their sphere. Thanksgiving, New Year’s, Valentine’s, Easter and beyond. There’s something to celebrate all thanksgiving cardsyear round, and it’s a fun way to stay connected and stand out as someone who is “there” more than just in the month of December.
  5. Have some fun with it.  Got a great team? Or just a great personality?  Take some fun pictures and opt for a photocard rather than a more traditional card and don’t be afraid to get a little creative with your photos.
  6. Don’t leave anyone out! You know all those mailing lists you’ve been collecting throughout the year? For Just Listed postcards, or the stack of business cards that have been sitting on the corner of your desk collecting dust? calendar cards 2016
  7. Order early.  We suggest sending your holiday cards out at LEAST two weeks in advance of the holiday every month — and sending first class as opposed to standard-class to ensure timely delivery.
  8. Follow up.  Sending cards is a great way to easily stay in touch.  Pick a postcard, edit your message, add a list – and you’re done!  In a matter of minutes you’ve created a connection.  However to really get the full impact of ANY mailing (holiday and otherwise) — be sure to follow up – at least with the top 25% of your list.  There is no substitution for this step.  Imagine if you made it a point each year, every year, to speak with every single person in your sphere at least twice a year?  Touch base, see if they have questions, thank them for being great customers, and say hello.  Here’s what happens when you do:  they remember you.  They don’t list with another agent because your name wasn’t on the radar.  They are grateful that you take the time to call.  And one out of 12?  Statistically will do business with you or refer business to you.

Here’s to a great holiday season ahead – and to staying in touch with your sphere and farm!  We’re even going to make that a little easier on your budget! From now until January 5th, send any holiday postcard, photocard, or calendar card and save 15% off your order excluding postage!

Use these money saving promo codes to get your discount! 

HOL15S – standard size, mailed First-Class
HOL15J – jumbo size, mailed First-Class
HOL15P – panoramic size, mailed First-Class
HOL15JSC – jumbo size, mailed Standard-Class
HOL15PSC – panoramic size, mailed Standard-Class
HOL15SH – any size, shipped to you
HOL15M – any size, magnetic stock
HOL15PDF – any size, PDF Download

Need help?  We’re here for you!  Call our team at 866.405.3638 today.  We’ll help get your holidays started and save you money at the same time! Have a great one!  

 

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