Right Now, Your Real Estate CRM is Worth its Weight in Gold. Here’s Why!

Feb 28, 2023

Back in the dinosaur days of real estate, a simple Rolodex, populated with the contact information of people in an agent’s sphere, ruled the day in most real estate businesses.

As technology advanced from those tiny 2.25-inch x 4-inch Rolodex cards, agents demanded more bells and whistles, which resulted in today’s sophisticated Customer Relationship Management platforms.

With the market in flux, it’s a good time for the less-than-busy agent to get to know their CRM and reacquaint themselves with the gold mine it is.

How about starting a drip campaign to drum up some business?

One of the best ways to grow your business and stay top of mind with your network is by reaching out to each person consistently over time.

Many agents swear by their drip campaigns, sending either automated emails or direct mail out to selected contacts in their CRM. However, how frequently you contact these people sits on a fine line between reaching out and spamming.

Some experts claim that dripping on these folks once a week is going to eventually get your marketing materials tossed in the trash or blocked from delivery to your contacts entirely – especially if they don’t plan on moving for a year or so.

A monthly email is more appropriate – even longer is fine. Just making consistent contact without annoying people is what’s most important.

You have one chance to lure these recipients into reading your drip campaign, which occurs with your first attempt.

The Content Card Series is shown above. To see more designs, Click HERE.

Depending on your database’s size, you may have to create several focused campaigns. Some of the categories to think about include quick (the operative word here) information for:

Homebuyers
Sellers
Condo buyers
FHA or VA buyers

To stay top-of-mind with past clients, think about sending information on their interests:

Gardening
Interior decorating and design trends
Green living
Food
Birthday, anniversary, new baby, and other greetings

The Content Card Series offers many of the topics listed above. Whatever you choose to send, make it count. Wow, them – make the recipients look forward to the next one.

Face-to-Face

Sometimes a face-to-face encounter is called for. Many successful agents plan client-appreciation events periodically throughout the year or one splashy annual event.

One California agent uses her CRM to classify her clients according to how big their sphere of influence is. Those with a huge network of contacts she calls her “A” group and those are the ones she tends to go a bit above and beyond to maintain the relationships.

Her preferred method is to never miss their birthday by issuing a lunch invitation for birthday week. Pricey? Perhaps, but memorable and tax-deductible as well.

Follow up with industry colleagues

Stick all those people you do business with on a regular basis into your CRM too. Begin building relationships with them by attending networking events or even holding your own for title company representatives, escrow people, lenders, contractors, plumbers, home inspectors, and electricians.

Client retention is business promotion at its subtlest, and your CRM is the most valuable tool you have right now.

While letting people know you value them, you plant a seed that will hopefully blossom into a big, fat pipeline full of referrals.

Be sure to check out the CRM that we offer to our customers FOR FREE. It allows you to grab contacts from various customer lists, target them with specific marketing meant just for them, and keep historical notes and personal data (i.e., birthdays, family members, home anniversary dates, etc.).

To check out our FREE Contact Manager, Click HERE.

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

Homes & Life Magazine is a customizable magazine with rich, full-color content and a sharp, professional aesthetic. It includes compelling, direct response-driven articles written by real estate industry experts combined with engaging lifestyle content. Send out Homes & Life Magazine in Just Minutes – No Minimums Required. Or we’ll ship it to you.

Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

2. The Free 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 and when. Four key market segments include niche Markets, geographic farming, sphere of influence, and past clients. – Click Here

3. The BusinessBase, SOI building system

The most effective thing you can do to build a real estate business is to become more visible, more likable, and remembered more often. The BusinessBASE™ not only checks these boxes but is also a business-building machine. In two easy steps, you can begin to build a robust sphere of influence that will provide you a lifetime of repeat business and referrals. – Click Here

4. The Free Interactive Real Estate Business Plan

The Free Interactive Real Estate Business Plan allows you to enter your business goals for this year and get a breakdown of how many prospects, listings, closing, and so on are needed to reach your goals. – Click Here

5. The Become a Listing Legend Free eBook

This image has an empty alt attribute; its file name is Become-A-Listing-Legend-3D-Book-White-274x300.jpg

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

The International Real Estate Client Niche, Part Two – a Deeper Dive

Feb 22, 2023

Recently, we discussed how working with international real estate clients can be a lucrative niche. We also took a look at how to break into the niche. Here in Part II, we take a deeper dive into that topic.

Build a Team

International real estate clients count on you, as a native, to help them navigate the foreign waters of the American real estate process. To provide the best service possible, take the time to build an advisory team that includes key players in international real estate transactions, such as lenders, attorneys, and accountants. Ask other agents who specialize in the global real estate market for referrals to the people they use.

Then build your service team. The most important member of this team may be your assistant. If you don’t speak your potential client’s language, hire an assistant who does. Add a handyman, contractors, inspector, and any other service providers your buyer client may need to make the transaction as smooth as possible.

The Neighborhood Update Series is shown above. To see more options, Click HERE.

Language and Culture

“When compared to other investment vehicles, there is a general preference for real estate investment amongst Chinese clients,” Jonathan Cooper tells Inman News. Cooper calls this a “cultural predisposition” and goes on to explain some of the reasons behind it.

Are you aware of the cultural predispositions of your international client? The geopolitical drivers behind his or her desire to purchase properties in the United States and those behind his or her decision-making processes are important for you to understand.

To help you, Waldenmayer recommends reading “Kiss, Bow, or Shake Hands (The Bestselling Guide to Doing Business in More than 60 Countries)” by Terri Morrison and Wayne A. Conaway.

She also suggests keeping abreast of issues affecting your clients in their home country by reading one or two magazines and newspapers covering global affairs and the global economy weekly.

Take a crack at local networking

Consider joining an ethnic organization, such as the Hispanic Chamber of Commerce or the National Association of Asian American Professionals, provided there is a chapter in your area.

Canadian broker Tina Mak, who works with clients from Taiwan and mainland China, tells Inman News’ Bernice Ross that she got her start by becoming active in Asian organizations.

Boca Raton’s Senada Adzem, with Douglas Elliman, keeps an eye on who is buying what in her city. She tells the story of taking a listing in a building that was popular with Brazilian nationals. To sell it, she reached out to the top agents in Brazil and found an international buyer.

Working with buyers from across the globe is a lucrative real estate niche. It’s not easy to break into if you lack the appropriate language and cultural similarities, but building a strong, diverse team can be the key to your success.

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

2. The Free 12-Month Done-For-You Strategic Marketing Plan

3. The BusinessBase, SOI building system

4. The Free Interactive Real Estate Business Plan

5. The Become a Listing Legend Free eBook

Plentiful, High-Quality Photos are a Listing MUST-DO: So Find a Good Photographer

Feb 20, 2023

It’s safe to say that most real estate agents aren’t professional photographers. Most do, however, carry smartphones with them – phones with cameras.

It’s all too tempting to skip the expense of a professional photographer and snap photos of a listing with that handy dandy iPhone.

So, while your clients work their fingers to the bone to get the home ready for the market, in walks their real estate agent, breezing through the house snapping phone photos, then slaps them on the MLS and calls it a day.

Listing Photos DO Matter

Let’s get into the statistics. The National Association of Realtors has found that 92 percent of homebuyers start their search for a home online. Of those people, 98 percent say that the listing photos are the most important information they find.

Nearly all of them!

Then there is the study from Old Dominion University in Norfolk, VA’s Institute for Behavioral and Experimental Real Estate. This study finds that the typical homebuyer won’t even look at a listing that doesn’t include photos, and when he or she does look at a listing, the first thing viewed is the photos.

Finally, another study finds that listings that include professional photography get 61 percent more views than those with agent-generated photos.

So, ok, we know that listing photos are an important aspect of generating interest in a home that’s on the market. But there’s more.

The Photo Introduction Series is shown above. To see more, Click HERE.

Pro vs. Amateur

Now, here’s the study that should make you pay attention. A while back, the Wall Street Journal reported that “At the closing table, listings with nicer photos gain anywhere between $934 and $116,076 . . . over listings using photos from point-and-click cameras.”

Your listing clients are paying you to market their homes so that they make the most money possible in the shortest amount of time. The value of hiring a professional photographer is obvious.

How to choose a real estate photographer

As you gain experience as an agent, you will hope that home sellers will ask you about your past marketing efforts. So, ask the photographers you interview the same question. Ask for recent listing photos. Then, request the following:

Names and phone numbers of agents they’ve worked for.
An itemized list of what his or her fee includes. Pay close attention to how much of the post-production work is included in the price.
If a licensing fee isn’t on that list, ask if the photographer charges one and how much it is.
Ask if he or she will retain the copyrights to the photos.

Don’t neglect your due diligence; call those agents that each photographer has worked for.

Choosing the least expensive photographer is easy, especially as a new agent with limited funds. Keep that temptation at bay by understanding that listing agents who use professional photographers earn more money at closing than those whose listing includes bad photos. (Redfin)

Welcome to the world of real estate!

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

2. The Free 12-Month Done-For-You Strategic Marketing Plan

3. The BusinessBase, SOI building system

4. The Free Interactive Real Estate Business Plan

5. The Become a Listing Legend Free eBook

A Lucrative Niche You May Want to Consider -International Real Estate Clients

Feb 15, 2023

Real estate is local – how many times have we heard that one? Real estate buyers, however – especially in certain parts of the country – are increasingly global, and many real estate agents are turning the international real estate client niche into a lucrative living.

Consider this: foreign buyers spent $59 billion dollars on U.S. residential real estate in the last two years, according to the National Association of REALTORS®.

The association also claims that the average sale price ($598,200) and the median of $366,100 were the highest on NAR’s record.

Where is all this money coming from? It depends on, again, local markets. NAR claims that most of it are coming from China, Canada, India, Mexico, and Brazil.

Despite the fact that South Americans are flocking to Miami’s luxury condo market, NAR says that most international purchases are for single-family residences. The study also says that the most preferred cities for foreign buyers are Florida, California, Texas, Arizona, New York, and North Carolina.

So, how does an agent get her fingers in the international real estate pie? Like most niches, it takes time, and it requires a system.

The Shifting Market Series is shown above. To see more designs, Click HERE.

How to break into the niche

Choose an area of specialization. “Because of the wide variation in customs, language, geopolitical and procedural considerations involved in serving international customers and clients, international specialists usually specialize in one or two countries, either related by language or belonging to the same global region,” says Coco Waldenmayer, former managing broker of Engel & Völkers in Naples, Florida.

To select a region in the world that you are best suited to serve, Waldenmayer suggests asking yourself the following questions:

Are you attracted to one continent over others?

What is your familiarity with one or more other cultures?

Does your sphere of influence already include individuals from a certain country?

Have you traveled to the region?

Do you speak the language?

Remember that many international clients come from English-speaking countries even if you don’t speak a foreign language. Aside from the United States, the countries with the highest percentage (not number) of English-speaking residents are:

Australia

United Kingdom

Ireland

Philippines

Canada

Germany

Once you’ve decided on an international farm area, consider obtaining the Certified International Property Specialist designation, which offers exceptional networking opportunities.

There is much more to know about successfully working with international buyers; we’ll be unpacking that in an upcoming article.

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

2. The Free 12-Month Done-For-You Strategic Marketing Plan

3. The BusinessBase, SOI building system

4. The Free Interactive Real Estate Business Plan

5. The Become a Listing Legend Free eBook

Generate More Listings Through Community Involvement

Feb 15, 2023

Some real estate agents enter the business with a huge sphere of influence to tap for their first deals. A lot of these agents are members of civic organizations, churches, or philanthropic groups. Even parents active in the local PTA come to the business with a list of potential clients.

Sound a bit mercenary?

On the contrary, using your community, social and familial contacts to help you cultivate potential clients makes sense.

“Involvement” is the operative word

One would assume that the busier the real estate agent – the more successful his practice – the less likely he is to volunteer within the community. That assumption is wrong.

Successful agents that understand the power of delegation and hire a staff, even if it’s one assistant, typically have a little time to devote to a community cause or to a personal passion.

When asked how they give back, those who claim they don’t have time to get into the community say they donate money.

While giving to non-profits, charities, churches, and other organizations is commendable, it is not really “community involvement.”

So, don’t let us stop you from writing those checks. We just hope you’ll consider giving some of your time as well.

The Comfort Food Series is shown above. To see more designs, Click HERE.

Mingling online doesn’t count either

The internet has changed many things about the way agents run their businesses, including how they stay in touch with past clients and their spheres. Much of it revolves around the use of social media.

But is social networking comparable to meeting face-to-face within the community?

Don’t get me wrong, being social via tech is valuable to your business. So, mingle online all you want, but it should be in addition to in-person involvement.

Meet and greet

This is where the meat of your community involvement campaign is – those organizations where you can contribute your time and talent and meet lots of folks from the community you serve.

Activities are more relaxed than the typical real estate transaction, so people get to know you as a person, not as a real estate agent.

Let’s face it – there isn’t much that distinguishes one agent from another, but on a personal level, it’s easy to set yourself apart.

Network with a passion

It’s important to pick a cause for which you feel some affinity – preferably a passion. This way, you can focus your efforts on the cause, not the leads. The leads will come – just give it some time.

Of course, if you have a passion – say for helping veterans or tutoring children – half the battle is won right there. If you have lots of interests, do some online research to help pare down the choices. Here are several places to start:

VolunteerMatch

AmericaCorps (ideal for Baby Boomers or those specializing in that niche)

Engage

There are numerous civic clubs to consider as well, such as

Finally, ask your local church or school what kind of help they may need, and if you’re athletic, become a volunteer soccer, baseball, football, or tennis coach.

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

2. The Free 12-Month Done-For-You Strategic Marketing Plan

3. The BusinessBase, SOI building system

4. The Free Interactive Real Estate Business Plan

5. The Become a Listing Legend Free eBook

How to Market Your Real Estate Business During a Downturn

Feb 9, 2023

Recessions used to be painfully easy to spot. Lately, however, the definition of the word “recession” seems to stymie even the most experienced and well-regarded economists.

Is it any wonder that the general public, and real estate consumers in particular, are now confused about the economy?

Whether or not your real estate practice is feeling the financial pinch that many other small businesses are experiencing, it very well may be in the future.

Should you discontinue marketing during the downturn?

Your competition may be tempted to do so. Which is the biggest reason you should absolutely not stop marketing.

Over the next few weeks, we’ll be bringing you several tried-and-true real estate business marketing methods that, although some are time-consuming, will be easy on your budget.

The Market Update Series is shown above. To see more, Click HERE.

Consider increasing your content marketing

Content marketing, by definition, is not meant to promote your brand (although it often does) but to attract and spark interest in your real estate services.

Right now, consumers (whether ready to buy or sell or wait it out) want to be kept abreast of the economy and the housing market and get tips on how to solve challenges in buying or selling in this market.

Blogging is one of the best and least expensive ways to accomplish this. Before you put your fingers to the keyboard, however, let’s take a look at some of the plusses of blogging:

Have a blog on your website? If you consistently add content to it, you may receive 97% more inbound links than the agent who doesn’t have an active blog. “Inbound links boost a website’s authority, which is a major page-ranking factor.” (Fundera.com)
Marketing advisory firm DemandMetric finds that “… companies with blogs generate 67% more monthly leads than those without.”
Their research also finds that you’ll spend 62% less on content marketing than on other forms of marketing.

Structure your blog posts for easy-reading

Most of us have landed on a blog post that hits us like a wall of words. And many will pass it by for just that reason.

Blog content needs to be easy to read, so break up long paragraphs and create additional interest by inserting bullet points, numbered lists, and lots of white space.

The folks at SEMRush find that a bulleted list every 500 words produces an average of 70% more traffic than posts that don’t contain these breaks.

Then, vow to add some spice to each post

Plan on adding images to each post. Types of engaging images include:

Stock photos
Screenshots that help explain the content
Infographics
Charts

According to the SEMrush State of Content Marketing 2020 Global Report, your blog posts’ images are critical to getting more traffic.

Blogging consistently during an economic downturn shows your website visitors that you’re still engaged in the industry, despite the slowdown. It demonstrates that you understand their concerns and are ready to assist them.

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

2. The Free 12-Month Done-For-You Strategic Marketing Plan

3. The BusinessBase, SOI building system

4. The Free Interactive Real Estate Business Plan

5. The Become a Listing Legend Free eBook

What Various Experts Say to Expect From this Quarter’s Real Estate Market

Jan 30, 2023

Some call the current housing market a “correction,” while others describe it as “in transition.” The truth is, none of us know for sure what’s coming.

We know today’s real estate market is nothing like what we’ve become accustomed to. If you’re the adventurous type, this is an exciting time.

To help you weather the current market, let’s unpack the various forecasts floating around online and try to make some sense of them.

Concessions, concessions everywhere

When was the last time you saw an offer to purchase replete with buyer concessions? It’s pretty much unknown to new agents who’ve joined the industry in the past couple of years. Today, however, rate buydown requests, money for repairs, help with closing costs, etc., are making a comeback, according to research by Redfin.

“Home sellers gave concessions to buyers in 41.9% of home sales in the fourth quarter … That’s up from just over 30% in both the previous quarter and the fourth quarter of 2021,” claim Lily Katz and Taylor Marr at Redfin.com.

In 2022, San Diego saw concessions included in 73% of home sales, while 62.9% of Phoenix contracts contained concessions.

The Real Estate Times Campaign is shown above. To see more, Click HERE.

Will rates quit their upward trajectory?

Experts are all over the place on this one. Greg McBride, Bankrate’s chief financial analyst, says that rates for a 30-year mortgage will sit at 5.25% by the end of 2023.

Between now and then, our survey of various experts shows:

“Fannie Mae sees the average rate of a 30-year fixed getting to 6.8% in 2023,” claims Kevin Graham at Rocket Mortgage.
Freddie Mac is predicting the 30-year rate will be 6.4%.
Bob Broeksmit, the Mortgage Bankers Association’s president, projects a 5.2% 30-year rate by the end of this year. (HousingWire.com)

As you can see, the experts are all over the map when it comes to predicting future mortgage rates. To get a better feel for what to expect in the spring real estate market, the pros with Motley Fool urge us to keep an eye on the March Fed meeting (March 21 and 22, 2023).

Will there be buyers?

The ShowingTime Showing Index®, at the time of this writing, reports that home showings fell by more than 30% nationwide. This drop is due, in large part, to the typical winter slowdown, so it’s not as scary as it appears on the surface.

According to a survey at NBC.com, more than half of homebuyer respondents say that the economy is causing them to reconsider buying a home. The good news is that nearly 1/3 of respondents replied that they are still considering buying.

If the Fed plays nice, we may just have a decent spring real estate market. Keep in touch with your sphere and farm, and you’ll be way ahead of the game.

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

2. The Free 12-Month Done-For-You Strategic Marketing Plan

3. The BusinessBase, SOI building system

4. The Free Interactive Real Estate Business Plan

5. The Become a Listing Legend Free eBook

You Won the Real Estate Listing, Now Make Sure it Sells

Jan 26, 2023

There really is nothing quite like that “high” agents get while walking away from a home with a signed listing agreement. No matter how often it happens, I highly doubt any agent becomes jaded.

The only problem is getting the home sold in a rapidly changing market. This is especially true of agents who were uber-busy during the hot sellers’ market. There was often not enough time to put a marketing plan to work before selling the home.

It’s different now, as you know, and ever-changing. Depending on your local market, you may need to pull out that marketing plan, dust it off and beef it up.

Let’s look at some of the basics you may need to spiff up to ensure your listings sell this year.

The Looking For Listings Series is shown above. To see more, Click HERE.

Getting the price right

Pricing the home appropriately for the market may be a listing agent’s most challenging task right now. It’s not impossible, but the job is certainly unlike the one you’ve become accustomed to.

First, you may run up against a lack of available sales data. “A declining market will likely exhibit very little sales activity,” suggests the Appraisal Institute’s Guide.

The writers go on to offer two solutions to help determine the home’s current market value:

“1. Expand the geographic area for comp search, then adjust for location as appropriate and/or

2. Use less recent sales, then adjust for market conditions as appropriate.”

A lot of your calculations will depend on how much competition there is in surrounding areas. Get to know all you can about those homes and their prices. If there’s a lot of competition, “Start by pricing below the competition,” suggests Neal Templin at Rate.com.

“If that doesn’t work and you need to adjust the price after a month or two, lower it by enough to attract a new group of buyers. It’s brutal. But you’re likely to end up with more money by getting out in front of a falling market rather than chasing it,” he concludes.

Naturally, you want to get the highest price you can for your client in a changing market. Remind your client that speed is important right now because the market will most likely not be getting better in the near future.

The listing description and photos

The agent’s online listing description is many buyers’ first introduction to homes for sale.

“This one won’t last!” is no longer an appropriate or truthful listing description headline. Because buyers are keeping a close watch on the real estate market now, they know that the home may last much longer than the seller hopes.

Skip the hyperbole and use that valuable real estate to talk up the features of the home, the lifestyle it offers, and the neighborhood.

If you photograph your own listings, consider hiring a pro for any home you feel may be challenging to sell. Professionally photographed homes sell quicker and for more money, according to a Redfin survey taken a few years ago.

Yes, the market may be challenging to get a handle on right now. But if you are taking listings, focus on the basics, such as appropriately pricing the home and nailing your best marketing tool, the MLS listing description, and photos.

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

2. The Free 12-Month Done-For-You Strategic Marketing Plan

3. The BusinessBase, SOI building system

4. The Free Interactive Real Estate Business Plan

5. The Become a Listing Legend Free eBook

Fence-Sitting Home Sellers? Coax them Down with the Latest Housing Market News

Jan 23, 2023

Think back to the days before you got involved in the real estate industry. Did you truly understand the workings of the housing market?

Sure, there are the economic geniuses among us, but many, many agents come from careers far removed from that. It’s safe to say that the teachers-turned-real-estate agents didn’t have the time or energy to pay attention to the real estate market.

Congratulations! You’ve just put yourself in the typical homebuyer’s and seller’s shoes.

Imagine how they’re feeling right now, and you can understand why “housing market bubble” has been a highly-searched term on Google.com in recent months.

This is despite agents across the country doing their best to let folks know that the odds that we’re facing another burst real estate bubble are slim to none.

If you have clients who have decided to watch the market instead of getting in it to sell their homes, you have some convincing to do.

As we all know, if they hope to sell for a reasonable price, the time to jump into the market is right now.

The Fence Sitter Campaign is shown above. To learn more bout this series, Click Here.

If I were you

I’m not. But if I were, I’d send a postcard to every potential home seller in my CRM.

It would be simple yet effective.

Perhaps the front of the card would say, over a lovely real estate-ish graphic, something along the lines of:

“Home prices continue to climb”

Under that headline, I would place this recent quote from Devon Thorsby at US News and World Report:

“Home prices are down month-over-month but still up year-over-year annually.”

Additional salient points to make, space permitting, of course, include:

Ignore month-to-month figures. As Thorsby says, “… month-to-month data is more volatile and does not signal a drastic shift in the market on its own.”
Home price growth is slowing, but it’s a sign of current economic conditions (higher mortgage rates, inflation, etc.), not a housing bubble.
The national median home sale price in November “… is 3.5% higher than the same month the year before. This represents “… the 129th consecutive month of a year-over-year increase in the median home price, the longest-running streak of increasing year-over-year prices, per NAR data.” According to Thorsby.
Finally, Realtor.com’s economists claim that the median list price nationwide was $416,000. This represents an 11% increase compared to the same month last year.

Express the urgency of listing sooner rather than later. Few economists expect the price growth to last, so getting the home on the market now gives your clients the advantage of getting the most money possible for the foreseeable future.

And this good news comes just in time for these folks to take advantage of the spring market.

Reach out if you need help with your postcard campaign. We are happy to help.

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

2. The Free 12-Month Done-For-You Strategic Marketing Plan

3. The BusinessBase, SOI building system

4. The Free Interactive Real Estate Business Plan

5. The Become a Listing Legend Free eBook

Crush it in 2023: Check out this Brilliant Real Estate Farm Idea

Jan 19, 2023

We’re big proponents of real estate farming. Whether it’s circle geographic farming, niche farming, or something else, we repeatedly hear stories about the hefty benefits of this marketing method.

While researching different real estate farming niches, we came across one that we found especially brilliant: long-time homeowners in good school districts.

The advantages of this niche real estate farm

Homes located in a “good school district” increase in “value over time,” according to Jamie Johnson at QuickenLoans.com. This is especially important to a homeowner who needs to sell during a market in decline.

About 31% of homebuyers surveyed by the National Association of REALTORS® for the 2022 Home Buyers and Sellers Generational Trends Report have at least one child under the age of 18.

The study also found that 23% of the buyers surveyed said that the quality of the school district was a factor that influenced their choice of neighborhoods.

When broken down by age, 41% of homebuyers aged 32 to 41 expressed the importance of buying in a higher-quality school district.

The higher demand for homes in a well-respected school district also means the home for sale may remain on the market for less time than other homes. Which homeowner and listing agent doesn’t want a quick sale for a decent price?

The Empty Nest Series is shown above. To see more designs, Click Here.

The kids grow up, eventually

When they do, they will (hopefully) strike out on their own. Mom, Dad, and an empty nest are what they leave in their wake.

Once you’ve chosen a school district to focus on for your farm, you’ll need to narrow down your “audience.” Start by using the median tenure of homeowners. Nationwide, it’s 13.2 years.

Coincidentally, that’s just about the same amount of time that it takes for a child to progress from kindergarten through high school graduation.

Homeowners with a 10-year or longer tenure should be among your target audience.

How is the sales activity in the prospective farm area?

Known as the turnover rate, this is an important metric when choosing a geographic farm area.

Take the number of homes sold in the past 12 months and divide that number by the number of homes in the prospective farm area. Multiply the result by 100.

“You typically want to see a 5% turnover rate or higher,” according to the experts at Realtors Property Resource®.

The next step

If the number of homes left is too large for your liking, weed out smaller homes and concentrate on those with square footage large enough to make these empty nesters want to downsize.

Now that you have your farm area nailed down, it’s time to get a prospect list. We would love to help you with that. to get started quickly and easily creating your prospect list using the Demographic Search Tool, Click Here.

Empty nesters in large homes within highly-rated school districts are a micro-niche that, if approached right, can be quite lucrative. And just in time for the spring market!

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

2. The Free 12-Month Done-For-You Strategic Marketing Plan

3. The BusinessBase, SOI building system

4. The Free Interactive Real Estate Business Plan

5. The Become a Listing Legend Free eBook

Mastering Rapport: Your Path to Real Estate Client Loyalty and Referrals

Jan 18, 2023

As a real estate agent, establishing a strong rapport with clients and potential clients is key to building a successful career. Rapport is all about creating a sense of trust, understanding, and connection, which can ultimately lead to successful, long-term relationships.

Today we dive into some practical tips on how to build rapport with real estate clients.

Active Listening

“Active listening is a communication skill that involves going beyond simply hearing the words that another person speaks but also seeking to understand the meaning and intent behind them,” according to Arlin Cuncic, MA at verywellmind.com.

In other words, avoid thinking about your next appointment during the current one. Cuncic goes on to give some additional tips to help you listen actively:

“Being fully present in the conversation.” Give every bit of your attention to the person speaking.
Maintain eye contact
Show the speaker you were listening by paraphrasing what was said.

The Join the Market Series of postcards is shown above. To see more, Click Here.

Show Empathy

Empathy goes a long way in establishing rapport with clients. Put yourself in their shoes and try to understand their perspective.

Buying or selling a home can be a significant emotional experience, and acknowledging and validating their feelings can help create a bond.

Offer support, reassurance, and a compassionate ear when needed. By showing empathy, you build trust and let clients know that you genuinely care about their well-being.

Tailor Communication Styles

Everyone has a unique communication style. Adapt to your client’s preferences and mirror their communication styles to establish a comfortable rapport.

Some clients may prefer a more formal approach, while others might appreciate a more casual and friendly conversation. Pay attention to their tone, pace, and word choice, and adjust your communication accordingly.

Be the Agent they can Count On

Timeliness and reliability are critical factors in building rapport. Few things in the business world are more frustrating than someone who doesn’t promptly respond to phone calls, emails, and messages.

Keep your clients informed throughout the buying or selling process, providing regular updates and addressing any concerns promptly.

By being responsive and reliable, you instill confidence in your clients, reassuring them that their needs are a top priority.

Building rapport with clients and potential clients is an essential skill for real estate agents. Thankfully, it’s one that can be developed over time.

When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazin

Homes & Life Magazine is a customizable magazine with rich, full-color content and a sharp, professional aesthetic. It includes compelling, direct, response-driven articles written by real estate industry experts and engaging lifestyle content. Send out Homes & Life Magazine in Just Minutes – No Minimums Required. Or we’ll ship it to you. Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

2. The Free 6-Month Done-For-You Real Estate Marketing Planner

The Real Estate Marketing Planner is a powerful 6-Month Guide that strategically defines what marketing to do and when. Four key market segments include niche Markets, geographic farming, sphere of influence, and past clients. – Click Here

3. The Free Online Real Estate Business Plan

The Real Estate Business Plan allows you to enter your business goals for the year and get a breakdown of how many prospects, listings, closings, and so on are needed to reach your financial goals. – Click Here

4. The Become a Listing Legend Free eBook

Notes for New Agents: Winter Brings out Bargain Hunters in the Real Estate Market

Jan 16, 2023

Maybe it’s because Black Friday, Small Business Saturday, and Cyber Monday all happen so close together that shoppers believe that winter, in its entirety, is bargain-shopping time. Even for real estate.

The media doesn’t help when every year we read stories of how much more money a homebuyer saves when buying in winter than at any other time of the year.

If you have clients willing to transact at this time of year, bravo! If you have folks who are fence-sitting, trying to time the market, or otherwise hesitant to jump in, educate them on just how brilliant selling in winter can be.

As a new agent, however, you may find yourself in negotiations with bargain-hunting buyers. If this is a new situation for you, read on to figure out how to deal with it.

Let’s make a deal!

So, how should you react when you, as a representative of the seller, receive a ridiculously low offer on their home?

The appropriate response depends on several things, chief among them is the type of market we’re in at the time.

Right now, we’re in a weird transitional market. This means depending on the state of the market in your region, your client may or may not still be in the driver’s seat.

First, get a handle on what’s happening in your market. Read local news stories, and listen to other agents’ conversations at the sales meetings and in the office.

The Shifting Market Series is shown above. To see more designs, Click Here.

Here are some of your client’s options:

Entertain the lowball offer by remaining firm on the price. In other words, counter the buyer’s offer by stating that you want full price. This one is more appropriate in a hot sellers’ market.

If your clients really need to sell the home sooner rather than later and offers are few, counter the offer by lowering the price by a small amount and let the negotiations begin.

Ignore the offer. If offers are few and far between, this may not be a suitable option. Still, this option should be included when counseling your client.

If the buyer is requesting concessions, consider granting them or some watered-down form of them (again, according to market conditions). In case you haven’t heard, “Buyers received concessions—such as money for repairs and mortgage-rate buydowns—in a record 42% of home sales in the fourth quarter,” according to Lily Katz and Taylor Marr at Redfin.com.

Accept the offer.

Other ways to counter an offer to purchase include countering the contract terms.

But, before you present any of the aforementioned responses, and depending on how long the home has been on the market, you may want to run a new check of recently sold homes to ensure that the market value hasn’t changed since the home was listed.

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine