Need help targeting the perfect niche of buyers or sellers? Use our prospecting list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
As various states ease lockdown mandates and life starts to at least minimally resemble what it used to look like, the real estate market is on track to be far better than many had assumed.
No, we probably won’t see the fiery spring real estate markets of yesteryear, but the housing market may just prove to be the bright spot in the economy.
Things have changed, however, from buyer preferences to how homes are shown. Have you vegged out enough on Netflix over the past few months or are you ready for the new world of real estate?
We’ve found a couple of niches that we think will be especially worth your time and effort to pursue in a post-lockdown real estate market. One of these is landlords, aka “absentee owners.”
Who are they?
“There are about 8 million individual landlords in the U.S., those who typically own between one and 10 properties,” according to Diana Olick at CNBC.com.
She goes on to state that these landlords “manage half the rental properties” in the U.S., with 48 million tenants.
Many of these landlords bought their properties between 2012 and 2014. Sure, the big guns (institutional investors) bought then as well, but almost half of investment properties were purchased by the individual landlord – the “Mom and Pop” investor.
Then, in 2018, the share of small investor activity in the housing market soared to 60%, according to Core Logic’s “Home Investor Report.”
Most of the homes these smaller investors buy are starter homes, by the way – in huge demand in the current market, as you well know.
These investors are prime targets, right now, for listing opportunities. Your audience, then, will be landlords who bought investment properties between 2012 and 2018.
Absentee Owners Series
Their pain points
The COVID-19 pandemic created a perfect storm of unemployment, closed businesses offering zero jobs to replace those lost and a government financial rescue program that isn’t seeing cash flowing to landlords.
Your audience of absentee owners doesn’t include the REITs with numerous rental properties and quite deep pockets.
Again, they’re the small investors, many living paycheck-to-paycheck, just like the rest of us.
Their biggest pain point right now is how, without rental income, they’ll make their mortgage payments without begging for forbearance and facing a huge payment when it’s all over. That is, if they qualify for forbearance.
In California alone, it’s estimated that 85% of tenants can’t pay their rent in May, according to SpectrumNews1.com.
The news site also claims that “… banks don’t have an obligation to help landlords.”
Even if they are granted forbearance, there are other expenses involved in owning rental property, such a maintenance.
Frighteningly, nearly 60% of small landlords “…said they did not have access to any lines of credit that might help them in an emergency,” according to a March survey conducted by Avail, a rental platform software company.
Direct Response Reports
Ouch.
Thankfully, you can help these people.
What’s in it for you?
I think it’s safe to say that those landlords who bought their property at the bottom of the market (after the Great Recession), and haven’t borrowed against it, are sitting on a ton of equity right now.
And the facts bear that out.
Alcynna Lloyd at HousingWire.com claims that the average real estate investors who bought their properties in 2012 “… have seen their home equity climb by 261%.”
That pencils out to an average $141,000 in equity.
Imagine being the one who delivers news like this to landlords who are going deeper and deeper into debt the longer the pandemic goes on.
The best approach
Other investors find the absentee owner niche quite lucrative. Because of this, there’s a very good chance that your prospects will have received at least one “yellow letter” from an investor/flipper.
Absentee Owner Series
The yellow letter is a direct mail piece that is either written by hand (or created to appear to be handwritten) on a sheet of that yellow, lined paper from what is often called a “legal pad.”
This technique supposedly brings results for these investors, which is why so many of them use it.
Direct mail is the best approach to potential clients in this niche and a letter is a perfectly acceptable marketing piece – at least for the first touch. Do yourself a favor, however, and don’t use yellow paper. Make your letter professional and valuable.
The first step to take when approaching this niche, however, is to determine which area of town you’ll farm. Then, order an absentee owner list.
If you decide you don’t want to use a letter to introduce yourself, there are several other approaches to consider:
After you’ve decided on the medium for your introduction, all of the above are well-suited as follow-up material. Which brings us to the next step: Schedule a direct mail stay-in-touch campaign. It doesn’t matter if your “touches” are monthly or quarterly, as long as they are consistent. Don’t give up if you don’t hear back from these prospects after the first few mailings.
Right now, many absentee owners are second-guessing their role as a landlord. Many are quite motivated to get out from under the financial burden.
Their pain points are very real, very urgent and you offer the ideal analgesic: sell now.
To learn how to create your list of Absentee Owners in your specific zipcode – Watch This Video (below) – Then click here from a desktop/laptop to create your own list.
Need help targeting other niches of buyers or sellers? Use our prospect list toolto create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
PLUS: When you have time…here are some Free resources we’ve made available to support your success.
1. The Free Real Estate Mailing List Guide
The Real Estate Mailing List Guide outlines the top tools for generating targeted prospect lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here
2. The 12 Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here
3. The Free One-Page Real Estate Business Plan
Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan. – Click Here
4. Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
5. The Free Online ROI Calculator
Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here
6. The Real Estate Marketing Guide “CRUSH IT”
The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here
Pre-pandemic housing news was enough to give a reader whiplash. While many prognosticators had a vision of a “strong housing market through the end of the year,” others were firmly in the opposing camp. “Housing market will probably slow,” blasted the headline of a popular housing market website.
Nothing much has changed, despite social distancing mandates and the rest of the inconveniences and heartache brought about by the COVID-19 pandemic.
The fact is, the housing market is doing just dandy in certain regions across the country. Utah’s real estate market, for instance, has remained “blistering,” according to a report at KSL.com.
In March, Utah homes sold more than a week quicker than they did in March of 2019. The median sold price in March 2020 was $35,000 more than last year as well, according to the blog at UtahRealEstate.com.
Regardless of whether your market is up, down or stagnant, folks still want to buy homes. Many renters who make in excess of $70,000 are waking up to the fact that their current home is inadequate and that those monthly rent checks they write enrich the landlord’s bottom line, not theirs.
But they don’t understand that they have options.
Renter/First Time Buyer Series postcard
Why?
With an unemployment rate just shy of 15 percent, it’s easy to become pessimistic about the real estate market. After all, requirement number one for getting a mortgage is that you need to prove you can make the monthly payments.
Sadly, it’s those Americans least able to handle unemployment that lost most of the jobs. “Job losses were highest amongst the nation’s lowest-paid workers,” according to Matthew Speakman at Zillow.com.
In April, for instance “62% of April’s loss in employment was felt by workers in industries paying below-average wages,” typically those in the hospitality and leisure industries, Speakman claims.
It’s highly likely that many, if not most of these employees are renters. It’s equally unlikely that they’ll be able to qualify for a mortgage in the near future. This is not your target audience of renters.
Your target should be renters who earn in excess of $70,000, especially the 1.35 million-plus American households who earn $150,000 per year or more and who “became renters between 2007 and 2017.” (US Census data)
That wealthier Americans in the nation’s most expensive cities are choosing to rent should come as no surprise. In San Francisco, for instance, where the median starter home costs about $895,000, there are more high-income renters than homeowners, according to the U.S. Census Bureau.
As rents rise, however, they’re awakening to the fact that perhaps a fixed-rate mortgage payment is far better than the wildly accelerating rental rates of late.
So, why are these people choosing to rent rather than buy a home?
Many are cash poor and don’t understand that they don’t have to have a huge chunk of money for a down payment and closing costs. Others assume they can’t afford to purchase, despite having a decent income.
To successfully pursue this real estate audience requires targeted marketing that dispels myths and speaks to their pain points.
Here are some suggestions on additional topics you may want to use to attract these tenants.
That up-front cost
“I was a long-term renter because I wanted to wait to buy until I could afford to stay in my current neighborhood,” a new homeowner tells Jennifer Bradley Franklin at BankRate.com.
So, why the long-term tenancy?
“I didn’t realize that there were affordable options,” she told Franklin.
One would think that with all the information at our fingertips, real estate consumers would be better informed about down payment assistance, closing cost help and the various low-down loans available.
It’s the assumption that the up-front costs are higher when you buy than when you rent that keeps many of them out of the housing market.
Dispelling this myth is a worthy goal in your marketing efforts.
While most down payment assistance programs are reserved for low-to-moderate-income earners, there are some for those who earn more.
The “Most Renters Should Buy” Direct Response Report
In fact, with more than 2,000 down payment/closing cost assistance programs nationwide, you are bound to find one for your higher-earning, home-buying prospects.
Or, let them know that the FHA-backed mortgage has a down payment that can go as low as 3.5% and there are no income limits for borrowers. You would be shocked to know how few consumers are aware of this.
Buying a home builds wealth, renting doesn’t
Back in 2018, when household net worth in the U.S. hit a record $98.74 trillion, homeowners saw the most gain.
In fact, “The average homeowner has a net worth of $195,400, 36 times that of the average renter’s net worth of $5,400,” according to Patrick Sisson at Curbed.com.
This is something that many would-be homeowners don’t consider when they sign the lease agreement. From that moment until the lease expires, these renters are adding to the landlord’s net worth, at the expense of their own.
Address this in your marketing. Let them know that, as Sisson says, “Homeownership may be one of the most significant, and surefire, means of increasing net worth.”
Need help targeting a specific niche of buyers or sellers? Use our prospect list tools to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
PLUS: When you have time…here are some Free resources we’ve made available to support your success.
1. The Free Real Estate Mailing List Guide
The Real Estate Mailing List Guide outlines the top tools for generating targeted prospecting lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here
2. The 12 Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here
3. The Free One-Page Real Estate Business Plan
Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan. – Click Here
4. Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
5. The Free Online ROI Calculator
Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here
6. The Real Estate Marketing Guide “CRUSH IT”
The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here
When I was buying a home a couple of years ago, I met with an agent at a nearby Starbucks. His entire buyer’s consultation consisted of trying to get me to sign a buyer’s agreement.
No matter what I asked him about, from current market conditions to requesting a referral to a lender, it always came back to me having a pen shoved in my direction.
No, he didn’t win me over as a client.
Sure, it’s important to many buyers’ agents to get a signature on that agreement. But a little foreplay would’ve been nice and probably would’ve resulted in getting my signature.
You have a lot of valuable information to impart, especially to first-time buyers. Providing excellent customer service demands that you share this information with potential clients. The payoff is a more relaxed client and a smoother transaction.
The pandemic has us all going a bit stir crazy, but using the time to prepare yourself to be more customer-service oriented when it’s over is a wise move.
Here’s a list of parts of the homebuyer process that confuse buyers the most. Use explanations of them in your consultation.
What’s the local market like?
Establish yourself as the local expert right out of the gate. Explain to your buyers that what they read in the national news about the housing market doesn’t necessarily pertain to the local market.
Outline the difference between a buyers’ and sellers’ market and how they come about. Dive into current local market conditions and how it pertains to their home-shopping process. What will you do to help alleviate any market conditions that may be challenging for them?
Finally, a thorough, easy-to-understand explanation of market value is in order. And, no, you don’t need to present these facts orally. An infographic or text explanation that they can take with them is even better.
Mortgages confuse first-time homebuyers
Nearly a quarter of first-time buyers haven’t seen a lender. They don’t know if they can even qualify for a mortgage let alone how much they can spend.
Yet, they are out looking at homes for sale, according to a survey commissioned by Discover Financial Services.
Crazy, right? Why are listing agents allowing non pre-approved buyers to tour their clients’ homes? Why aren’t buyers’ agents counselling their clients about the importance of seeing a lender?
The dangers in the latter include buyers not knowing that they shouldn’t apply for credit or buy anything on credit. They don’t get that they shouldn’t change jobs and areg clueless about that second credit pull just before closing
From application to underwriting and closing, your buying clients deserve an in-depth explanation of the mortgage process. If your preferred lender doesn’t supply this (and most don’t), then it’s up to you to do so.
That downright scary home inspection report
The chances are pretty good that most first-time homebuyers have never seen a home inspection report. Pity, because it would help prepare them for what is to come.
From photos enlarged to super-giant-size to technical jargon that nobody outside of the construction industry understands, the results of a home inspection appear to most buyers as big, fat dollar signs flying out the window.
Let your buying clients know that:
Although the report may seem nit-picky, the inspector is tasked with being thorough.
Problems in photos may appear far worse than they actually are.
If something big does turn up, “we can handle it.” Let your clients know their options (walking away from the deal, negotiating with the seller for repairs, etc.).
HOAs and their documents
Gotta love that mountain of paperwork the HOA provides buyers of homes in managed communities.
Filled with legalese, it’s almost impossible for the average buyer to know, first, what to look for, and, second, how to decipher the information when she finds it.
As an agent, your best course of action is to outline the typical docs in a HOA package, highlighting the ones that buyers should pay close attention to.
Then, urge them to run the whole package by an attorney. Unless you are one, of course.
Staying home, as we’ve all been urged to do, doesn’t have to be filled with long days binging on Netflix or catching up on home maintenance chores. Take some time to work on the parts of your real estate business that you’ve let fall by the wayside.
Send a The Clean-Your-Plate-Pancake recipe postcard from the COVID-19 Series to an area where you want more listings.
Need help targeting a specific niche of buyers or sellers? Use our mailing list toolto create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
PLUS: When you have time…here are some Free resources we’ve made available to support your success.
1. The Free Real Estate Mailing List Guide
The Real Estate Mailing List Guide outlines the top tools for generating targeted mailing lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. – Click Here
2. The 12 Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here
3. Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
4. The Free Online ROI Calculator
Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here
5. The Real Estate Marketing Guide “CRUSH IT”
The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted mailing list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here
Need help targeting the perfect niche of buyers or sellers? Use our mailing list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
While there are agents who are still managing to carry on business as usual during the pandemic, many are hunkered down at home, trying desperately to figure out what to do next.
You could bust your boredom like Katherine Hahn, but it won’t do much to fan the flames of your real estate brand or make you more productive when we come out of the other end of this thing.
The At-Home postcards are from the COVID-19 Series in the postcard section.
We’ve come up with several ideas to help you out and we start with hunkering-down reading material. Some of our suggestions are older books, but the information within them is still brilliant. Others are newer offerings with tips on digital marketing especially. And, a few are pure escapism.
Follow the link in the title of each book to learn more about it.
1. The Social Agent’ 2.0 Update: The Evolution of Digital Marketing, Tony Giordano
Considered a “celebrity real estate agent,” Giordano is also a national speaker and author who prefers to show, not tell, how to do social media right as a real estate agent.
The book’s reviews on Amazon can attest to his success with that, with one reviewer claiming that “Tony goes into some detail on what to actually do, instead of just ideas, which I appreciate.”
Giordano talks about “Online Presence vs. Present Online,” and explains how “Everyone is present yet few have presence.”
‘the social agent’ is also available at Barnes&Noble, which is currently offering free curbside pickup for online orders.
2. What to Post: How to Create Engaging Social Media Content that Builds Your Brand and Gets Results (for Real Estate), by Chelsea Peitz
Like “the social agent 2.0,” this book dives deep into various social media strategies. Peitz, however, promises that What to Post is “… a step-by-step guide that will help you create a fail-proof social media content strategy that will give you an unfair advantage on platforms like Facebook and Instagram and generate FREE real estate leads.”
Unlike a lot of real estate-specific books on the market, What to Post was published in February 2020, so you won’t find a section about what to post on MySpace and other outdated, non-existent platforms.
Peitz, by the way, is the national director of social sales for Fidelity National Financial, as well as a social media coach and brand developer.
The At-Home postcards are from the COVID-19 Series in the postcard section.
Since social media marketing should be among your go-to methods right now–while most people are hunkered down and spending lots of time online–this may just be the ideal book to read.
3. Lead with Heart: Transform Your Business Through Personal Connection, by Tom Gartland
First, let’s address the Amazon ratings. There are only three and one of them is from what sounds like a disgruntled former employer. He or she really doesn’t review the book, so we’re disregarding it and hope that you will too.
Why?
Since its publication in 2018, many agents have suggested this book to others. For instance, Minnesota broker and mega-agent Kris Lindahl raves about Gartland’s leadership principles.
Especially if you are leading a team of agents, give this book a read.
4. Content Rules: How to Create Killer Blogs, Podcasts, Videos, Ebooks, Webinars (and More) That Engage Customers and Ignite Your Business, by Ann Handley
We love that Handly devotes an entire chapter to creating case studies. Too few agents use them in their marketing and, if done right, they are so powerful.
But you’ll also learn the art of blogging, how to put together a killer ebook, podcast or video.
After an evening spent watching the news or hanging out on social media, do you ever find yourself in “the panic that comes with knowing too much and being able to do so little?”
Elena Nicolaou, culture editor at OprahMag.com, calls this “coronanxiety.” Her secret for fighting it?
“Feel-Good Books.” Although many might consider this escapism, Nicolaou cites the many psychologists who “… recommend reading as a coping mechanism during high stress moments.”
Fiction is ideal right now, the perfect vehicle for “… the off-ramp of reality,” as Nicolaou calls it.
The At-Home postcards are from the COVID-19 Series in the postcard section.
Send a postcard from the COVID-19 Series to your Sphere or Farm. Let them know you’re thinking about them by offering DIY projects and family fun to keep busy during the stay-at-home orders.
Need help targeting a specific niche of buyers or sellers? Use our mailing list toolto create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
PLUS: When you have time…here are some Free resources we’ve made available to support your success.
1. The Free Real Estate Mailing List Guide
The Real Estate Mailing List Guide outlines the top tools for generating targeted mailing lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here
2. The 12 Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here
3. The Free One-Page Real Estate Business Plan
Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan. – Click Here
4. Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
5. The Free Online ROI Calculator
Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here
6. The Real Estate Marketing Guide “CRUSH IT”
The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted mailing list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here
Welcome to the world of the work-at-home bunch. While it sounds cool, working from home does have its challenges. You may be facing some of those right about now.
The interruptions from family members, the feeling of isolation from your colleagues, the desire to run out for a coffee at Starbucks. Heck, right about now, you might even be missing that agent who never leaves the office, treating it like his own little social club.
The biggest challenge for many is staying motivated while working in a vacuum.
Self-motivation can be a tough nut to crack, but it all starts with creating the right environment – the home office.
It takes more than a comfy couch and a laptop
From the location within the home to getting the right gear and mindset, setting up your remote workspace takes some planning.
Start with location. If you have kids at home, set your office as far away from their play areas as possible.
Then, consider distractions that may come from outside the home. If your neighbors are using their “stay home” time to work on a car, chop down trees, or any other project that involves loud equipment, set the office on the far side of the home.
Do you have the right gear?
The two most important pieces of equipment you’ll need in your home office include:
The right chair
Good lighting
You will be in that chair for a good part of the workday. If it doesn’t support your back, however, it’s the last place you’ll want to park yourself.
Choosing an office chair is a lot like choosing a new bed. There are so many choices and, especially if you’re in a self-induced lockdown, you may not even get to try it out in person.
This is where reviews come in handy. First, though, read up on the science behind the creation of an ergonomic chair. Then, take a look at this in-depth list of must-haves, created by a chiropractor.
Natural light is the best, but don’t let that stop you if the only office location you have is windowless.
Overhead lighting is a must, according to Sherry Nothingam at Decoist.com. But you’ll need more.
“Task lights are undoubtedly the most essential part of the home office, and no matter what your job is, task lighting ensures that you get it done under the best possible illumination,” Nothingam suggests.
These can include table lamps, which “offer focused illumination,” according to Nothingam. The proper placement of task lamps (to avoid the eyestrain produced by glare and shadows) is important as well.
“For instance, an overhead spotlight situated behind you can result in glare on your computer screen,” according to Remodelista.com’s Christine Chang Hanway.
Place your task light “the side opposite from the hand that you write with” to avoid casting shadows, Hanway suggests.
It’s the little things that will round out your office, helping you remain productive and focused.
If you use a laptop, consider purchasing a stand for it. Elevating your screen helps reduce screen glare which can cause eye strain and headaches.
Use a desktop computer? Avoid neck and shoulder strain by elevating the monitor “… so your eyes are level with the top of the screen,” suggests physical therapist Jill M. Henderzahs-Mason at MayoClinic.org.
Finally, Alexis is always a useful tool. In times of utter boredom, ask her to play Jeopardy. More productive uses of Amazon’s Echo include connecting your calendar which will then be available by voice command.
You can also listen to podcasts, news or use the voice assistant to hold a meeting (Alexa for Business). Ask Alexa to “start the meeting” and, according to Tara Walker, with Amazon, she “turns on the video conferencing equipment, dials into your conference call, and gets the meeting going.”
Dress for success
Be sure to take a shower every day and get dressed. “Treat it like a real job.” At least that’s what the BBC.com’s Brian Lufkin says.
Send a postcard from the COVID-19 Series to an area where you want more listings.
Need help targeting a specific niche of buyers or sellers? Use our mailing list toolto create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
PLUS: When you have time…here are some Free resources we’ve made available to support your success.
1. The Free Real Estate Mailing List Guide
The Real Estate Mailing List Guide outlines the top tools for generating targeted mailing lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here
2. The 12 Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here
3. Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
4. The Free Online ROI Calculator
Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here
5. The Real Estate Marketing Guide “CRUSH IT”
The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted mailing list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here
Mortgage and rent relief, utility bill forbearance, and a sped-up unemployment compensation process are just a few of the forms of relief offered to Americans during the COVID-19 pandemic.
The list changes almost daily. Unemployment benefits, for instance, were recently extended to independent contractors under the CARES Act.
If you’re not working in real estate right now, which seems to be the prevalent situation across the country, we are offering up some ideas on how to deal with the lack of income during this period.
Let’s talk about that unemployment compensation
The official name for these benefits for the self-employed is “Pandemic Unemployment Assistance (PUA).” As you can imagine, many states were and are completely unprepared for this new program.
Built to accommodate W2 workers, the revamp to state systems to also include the self-employed is a bit sluggish, with some states not yet ready to accept applications.
The COVID-19 Series of postcards are available in the postcard section.
“States appear to be awaiting guidelines from the Labor Department, and some are updating their administrative processes,” according to Greg Iacurci at CNBC.com.
He goes on to detail the experience of one self-employed Rochester, New York woman who was unable to apply via the website. Apparently, the site demanded a copy of her W2. She phoned the office (it took numerous tries before she got through) and was able to apply by phone and faxed her IRS Schedule C in lieu of the required W2.
How much can you expect to receive in PUA? Iacurci says that the self-employed may “… receive half their state’s average weekly unemployment benefit plus $600 a week.”
A far cry from the average commission check, but it will put food on the table.
Check your state’s unemployment office website for details specific to you. For instance, New York has a handy chart detailing the requirements for PUA in that state.
Get a small business loan
I feel for the higher-earning real estate agents right now. To go from a huge income to nothing has got to be something they never expected.
For these agents, especially those with employees, a small business loan may be the answer.
The Paycheck Protection Program, part of the CARES Act, has $350 billion to offer small businesses.
“The program is designed to get cash into the hands of suffering small businesses quickly, with less red tape and fewer guardrails than the SBA’s existing loan programs,” according to Aaron Gregg at WashingtonPost.com.
The main goal of the program is to help employees remain on the payroll by incentivizing small business owners. The bonus for you is that you may qualify for loan forgiveness.
The COVID-19 Series of postcards are available in the postcard section.
Get details on the Paycheck Protection Program and learn if you qualify at SBA.gov.
Should you consider raiding your retirement funds?
Because there are very pertinent pros and cons to this question, the answer is a toughie.
Some of the disbursement rules have changed, making it even more tempting to raid your retirement accounts. In the past, there were penalties for early disbursements from these accounts.
Today, account holders are allowed to take, penalty-free, up to $100,000 as a “hardship distribution” from their IRA, 401(k) or 403(b).
You will pay taxes on the disbursement but the CARES Act allows you to spread the payment of these taxes (and the repayment of the disbursement) over three years.
“The biggest consequence of withdrawing money from your retirement plan is that you are losing out on that money compounding,” Mitch Goldberg, financial advisor tells Sharon Epperson at CNBC.com.
If this feels like a good solution for you, run it by your financial planner first. He or she may offer up insights you haven’t considered.
The COVID-19 Series of postcards are available in the postcard section.
Stay healthy!
Send the Virtual Consultation postcard from the COVID-19 Series to an area where you want more listings.
Need help targeting a specific niche of buyers or sellers? Use our mailing list toolto create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
PLUS: When you have time…here are some Free resources we’ve made available to support your success.
1. The 12 Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here
2. The Free One-Page Real Estate Business Plan
Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan. – Click Here
3. Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
4. The Free Online ROI Calculator
Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here
5. The Real Estate Marketing Guide “CRUSH IT”
The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted mailing list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here
We know you’re fielding questions from consumers so we’ve scoured real estate related news stories to bring you the ones that will help you answer those questions.
The supply and demand rollercoaster
Worldwide, housing markets are changing. As of March 26, demand in the UK is down and there has been an increase in the number of sales that have fallen through,” according to Nicu Calcea at Zoopla.co.uk.
However, here in the U.S. conditions are fairing much better. In fact, they reflect our favorite “location, location, location” mantra.
The COVID Series of postcards is available in the postcard section.
For instance, an agent in Albuquerque, NM states that the market is “still rocking.”
Christian Murdock, with Gazette.com says that the Colorado Springs, CO market is not only still strong, but “Home sales increased; prices soared to another record high, and builders enjoyed their best month in more than a year.”
Of course, it’s to be expected that some areas are being temporarily impacted by the stay-at-home orders. Realtor.com stated during the week of March 28, the number of new listings (nationally) decreased over this time last year.
The good news for buyers, however, is that homes coming on the market are less expensive.
“The median asking price for newly-listed homes last week was $309,000—$21,000, lower than two weeks earlier,” according to Katz.
The COVID Series of postcards is available in the postcard section.
Do check out this Redfin article for some interesting charts and graphs.
Will the iBuyer model survive?
According to Brenda Richardson at Forbes.com, iBuyers, such as Opendoor, Zillow, Redfin, and others, are taking a break from the housing market.
They are, in her estimation, “… in a state of limbo. What the iBuyer landscape will look like when the dust settles is a big question mark.”
One Zillow listing client explained to Richardson that Zillow canceled his home purchase 10 days before closing.
According to Richardson, the cancellation paperwork told him he had 48 hours to “. . . to choose between two options from Zillow: ‘I could take a check for $5,000. That’s $1,000 in earnest money that they were contractually obligated to pay me for breaking the contract and $4,000 extra for the trouble. Or they would pay for a Realtor to relist the house. They were just going to cancel the contract and walk away.’”
He took the money. “We absolutely could have closed on this house without ever having to break any sort of guidelines around social distancing,” he explained to Richardson.
“And so for Zillow to blame what’s going on from a health-care standpoint for their financial decision to break this contract and put that burden back on me and their customers is really insulting.”
Maybe he’ll choose a real, live, professional and experienced real estate agent next time?
MOST IMPORTANT: Free telemedicine for REALTORS®
Your association is certainly looking out for you during this crisis. According to the Members TeleHealth site, the NAR has funded two free months of TeleHealth services for members.
Stay in touch with your Sphere and Farm by sending a postcard from the COVID-19 Series.
Or purchase a single postcard download and share it on social media.
Need help targeting a specific niche of buyers or sellers? Use our mailing list toolto create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
Check out the All-New ProspectsPLUS! 10X – With a personalized dashboard, auto-populated marketing, the world’s best editor, and mailings lists you can buy in minutes! –Click Here
PLUS: When you have time…here are some Free resources we’ve made available to support your success.
1. The 12 Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here
2. The Free One-Page Real Estate Business Plan
Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan. – Click Here
4. Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
5. The Free Online ROI Calculator
Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here
3. The Real Estate Marketing Guide “CRUSH IT”
The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted mailing list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here
Need help targeting the perfect niche of buyers or sellers? Use our mailing list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
A few months ago, we began to sift through the various social media platforms and whittle down which were most worthy of a real estate agent’s time. At that time we compared Instagram and Facebook.
We promised to continue this quest in a “part two” article down the road.
And, right now, with stay-at-home orders in place, and many agents focusing on social media, we decided there was no better time than the present to complete this topic.
The following statistics define what additional social media platforms to focus on and what to avoid to ensure the best ROI.
Always start with the demographics
In their attempts to pitch their services to real estate agents, social media marketing companies are notorious for using vague statistics.
For instance, one company gives agents “10 Reasons Why Every Realtor Needs An Awesome Instagram Account.” Reason number one is that Instagram
“… boasts over one billion active monthly users and over 500 million daily users.”
While that’s impressive, unless you sell real estate internationally, this number is completely useless to you. Why pay to advertise to someone who lives on the other side of the globe?
What you need to know is how many Americans use a platform. In Instagram’s case, it’s 116 million, which is only 11 percent of the total active monthly users.
Then, you should find out the primary age groups that use the platform. Instagram’s largest user group (64 percent of all users) is between the ages of 18 and 34 (Gen Z and younger millennials).
Remember, NAR’s studies show that the largest group of homebuyers are those between the ages of 25 and 43 (millennials) and baby boomers (age 56 to 74) make up the largest group of sellers.
The Neighborhood Update postcard is available in the Neighborhood Update Series under Postcards
The average age of each, however, is 47 and 57, respectively.
Thinking of Pinterest?
Pinterest is wildly popular with American women, or “deciders” as the folks at Pinterest call them. Here are the details you need to know to determine if it’s a platform you want to spend time on:
83 percent of American women between the ages of 24 and 54 use Pinterest (Pinterest.com)
43 percent of these users say they’ll buy a house sometime between now and 2025. (Pinterest.com)
You may want to do a cost-benefit analysis before you jump on the Pinterest bandwagon. It’s quite time-consuming so unless you have a dedicated marketing person or social media manager on the team, it could end up eating much of your valuable time.
When your pins and boards are optimized, however, Pinterest can be a powerful way to steer traffic to your website.
How is Twitter for real estate agents?
Because it’s in the media so often, Twitter seems a lot more popular than it is – at least with adults.
Nearly 80 percent of all Twitter users live outside the U.S. (Omnicore Agency)
More than 65 percent of Twitter users are males
Nearly 40 percent of users are between the ages of 18 and 29
Real estate agents should look long and hard at the first and third Twitter facts in the above list. The U.S. audience is small and it’s composed largely of people outside the home buying and selling age range.
The Looking For Expert Advice postcard is from the Get More Listings Series under the postcard section
If you love Twitter, there’s certainly nothing wrong with using it for personal stuff, however.
TikTok
Just what every real estate agent needs: yet another social media/video app to consider as a marketing tool.
Since the majority of real estate agents aren’t in Gen Z and aren’t even Millennials, an explanation is probably in order here.
TikTok is “The app where Gen Z vies for 15 seconds of fame,” according to Slate.com’s Heather Schwedel. She goes on to describe it “as a social network for amateur music videos.”
This newcomer to the “Oh-my-God-you-need-to-be-using-this” video-sharing platform has become an obsession with teens. In fact, half of TikTok’s users (globally) are under the age of 34, with the vast majority of them between 16 and 24.
When was the last time you had a 16, 17,18 or even 20-year-old real estate client?
Then, 80 percent of the app’s most frequent users reside in China, but India accounts for nearly half of all new users.
Are you licensed to sell real estate in China or India?
What you’ll hear from marketers trying to get your business:
Users spend about 52 minutes each day on the app
The app is the most downloaded from the Apple App Store
“One of the great reasons why it’s so great for real estate is because, simply, not many people in real estate are using it”
“You see a lot of people like Gary Vee . . . talking about how TikTok is something you need to be going all-in on.”
We had to laugh at that last one, since Gary Vee sells, among other things, sneakers. TikTok supplies the ideal targeted audience for that product.
You, on the other hand, hopefully, sell HOMES. TikTok, at least right now, is an utter waste of time for real estate agents.
What’s not a waste of time? Facebook, whom we highlighted in our last article on social media marketing and LinkedIn.
The Neighborhood Update Free Offer postcard is available in the Neighborhood Update Free Offer Series under Postcards.
For buying ads, we would seriously consider NextDoor.
Send the Neighborhood Update Free Offer postcard from the Neighborhood Update Free Offer Series to your Farm or an area where you want more listings.
Keep them informed about what’s going on right now in their marketplace.
Need help targeting a specific niche of buyers or sellers? Use our mailing list toolto create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!
PLUS: When you have time…here are some Free resources we’ve made available to support your success.
1. The 12 Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here
2. The Free One-Page Real Estate Business Plan
Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan. – Click Here
4. Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
5. The Free Online ROI Calculator
Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here
3. The Real Estate Marketing Guide “CRUSH IT”
The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted mailing list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here
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