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Thursday, May 2, 2024

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    Recently, I read an article over at Inman.com, written by Troy Palmquist. The subject is how to “… beef up your referral network,” and Palmquist offered some brilliant tips including one that should be unnecessary.

    Why? Because reminding real estate agents of the value of their real estate sphere, shouldn’t be necessary in 2020.

    Yet, too many agents let it slide, taking for granted the relationships that those names in their CRMs represent.

    Your sphere can be the lifeblood of not only a referral network, but of your entire business if it’s consistently nurtured.

    For that to happen, however, you need to devote more time to your sphere. In other words,

    Focus on lead quality, rather than lead volume.

    Animal II Series

    It takes time to nurture your SOI, to grow it, and, thus, to prosper from it. But the good news is that the tasks involved in accomplishing these goals are far easier and more comfortable for the agent than the constant rotations of the hamster wheel that is new lead gen.

    So, consider stepping off that wheel and working smarter, not harder.

    Let’s take a look at your CRM

    If you’re a new agent, “SOI” may mean little more than three letters. So, let’s start there.

    A sphere of influence in sales is a group of people over which you have some influence and to whom your opinion matters.

    In essence, it’s a group of people who already know, like and trust you. This group naturally includes close family members, colleagues from your previous jobs and anyone else you’ve had a cordial relationship with.

    Established agents: Are these contacts easy to filter in your CRM?

    There are numerous ways to categorize those names.

    Think about it: when creating marketing pieces, you don’t want to be sending information on buying a home to your seller leads and vice versa.

    So, the best place to start is to categorize by whether the contact is a potential buyer or seller.

    You’ll have lots of folks that don’t fit either category because they’re friend, family or others in your sphere.

    Create a category for your SOI as well. It’s ok if someone in your sphere is also a potential buying or selling client, their info will come up when you search for either.

    Need additional CRM organizational tips? Check out these websites:

    Now you’re all set to communicate

    Animal II Series

    Go through your CRM and pick out anyone in your SOI. Remember, they may or may not also be in the market to buy or sell, but they should be a target marketing audience.

    How you market to them is your choice, whether it’s via email (not very effective) or snail mail, this audience requires mostly generic information, such as:

    • How the market in your area is doing
    • The percentage increase in local home values
    • Homeowner DIY tips
    • Local events
    • Restaurant and Mom & Pop store reviews
    • Local and national economic news (in plain English)
    • Local, state and national down payment assistance programs

    Much of the topics that fit your SOI make amazing newsletter fodder and, right now, direct mail is the way to deliver it.

    Basically, you just want to send them something consistently that reminds them that they have a trusted friend in the real estate business.

    Use free social media strategies for all their worth

    If you don’t have a social media strategy, or haven’t been paying attention to the one you have, get busy changing that. If you’re too busy, it’s worth it to hire an intern or virtual assistant to keep on top of it.

    We get it that you don’t have time for a whole lot of schmoozing, so start with one platform. Facebook – it has near-perfect user demographics for real estate marketing.

    If you haven’t been on Facebook in some time you may not be aware of how it’s changed. Users are far more aggressive, bullying of those who disagree on popular news topics is common. The environment is really quite ugly, but it doesn’t impact the platform’s effectiveness for marketers.

    You’ll want to engage with your followers, but avoid (at all costs) becoming involved in the political threads that are quite popular right now. To avoid the temptation, don’t even read them; just scroll right by.

    If you aren’t a member of any local Facebook groups, find out which ones those in your SOI enjoy and join them.

    Your real estate sphere of influence can be a goldmine if you work it. Keep in touch, ask for referrals, and engage with them on social media.

    Animal II Series
    Send a postcard from the Animal II Series to your Sphere of Influence and keep those lines of communication open.

    Need help targeting a specific niche of buyers or sellers? Use our Demographic Search Tool to create the ideal list (it’s easy). Or call our support team for assistance at 866.405.3638!

    PLUS: When you have time…here are some helpful resources we’ve made available to support your success.

    1. Become a Neighborhood Brand

    Become branded in a specific neighborhood with a 12X15 marketing piece sent automatically each month to an exclusive carrier route. Watch this video to learn more or Click Here.

    2. The Free Real Estate Mailing List Guide

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    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

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

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    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

    4. The Free One-Page Real Estate Business Plan

    This image has an empty alt attribute; its file name is Business-Plan-3D-Book-New1-270x300.png

    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

    5. 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

    6. The Free Online ROI Calculator

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    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

    7. The Free Real Estate Marketing Guide “CRUSH IT” 

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    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

    Making Your Book of Business a Priority

    By Julie Escobar

    We’re excited about the launch of the fifth edition of the Master Marketing Magazine this month.  The printed copies should be hitting mailboxes soon, but you can sneak a peek inside the pages here and read the digital version today!  It all starts with a powerful but simple business plan shared with us by our old friend Floyd masket-marketing-magazine-5-3d
    Wickman.  Find it here. 

    Every edition of the magazine has centered around different themes such as Big Data, Experts & Insights, and Geographic Farming.  Our latest edition focuses on the heart of what should be every agent’s business foundation – their sphere of influence.  Why?  Statistics show that top producers consistently share that 66% of their business comes from their sphere.  That one in every twelve people in your sphere will either do business with you or refer business your way every year IF (and only IF) you consistently make reaching out to them a priority.

    For every agent who sits scratching their head wondering why “Aunt Helen” listed with another agent or is stymied by the fact that the people they most closely do business with (lawyers, doctors, dentists, accountants, colleagues) aren’t choosing to make them their real estate go-to professional, there are the top agents who get it.  It costs less to KEEP and create a customer FOR LIFE than it does to cultivate new ones.  Plus, it is WAY less stressful than riding the commission roller coaster your whole career.

    Step One: Know your numbers. How many people do you need in YOUR SPHERE to help you hit your goals this year?  We’ve created a sphere of influence calculator to help you figure out if you’re on track.

    Find it here.

    Step Two:  Stay in touch. The Direct Marketing Association recommends reaching out to your book of business every 21-45 days.  Savvy agents use a variety of methods to make sure that they are top of mind.  We recommend the Send-Call-See approach to staying connected.  That is to SEND something monthly to your sphere as a tangible reminder that you are a resource they can turn to. Then CALL everyone in your sphere at two-four times per year.  And SEE everyone at least twice per year.

    For the SEND we can recommend:community-news

    For the CALL, we recommend:

    • Take a look at our Master Marketing Schedule, for some fun, creative reasons to connect
    • If sending the content cards or newsletters, follow up on a topic and ask if they have any questions
    • Let people know that the market is in a constant state of change, and that change can raise a lot of important questions for folks. Ask them if they’ve got any questions, or know anyone who may be in need of real estate assistance.
    • If you’re following them on social media, and see that there has been a change in their lives (new job, new baby or grandchild, award or accomplishment), tell them you saw the news and you just wanted to check in and congratulate them, or the appropriate sentiment for the event.

    For the SEE, we recommend:

    • Choosing at least five top clients a month to reach out to with an invite for coffee or lunch, or a drop by with something fun using the suggestions found in the Master Marketing Schedule.
    • Hosting an annual customer appreciation party. Suggestions:  rent out a movie theatre or do an outdoor movie in the park in the spring, a picnic, or an open house wine and cheese.

    Taking care of the people in your sphere will help you grow your business faster and easier. Not sure where to start? Here are a few suggestions:

    • Download our BusinessBASE™ – includes suggestions for the 150 people who SHOULD be in your sphere plus the how/when and why for contacting them20-year
    • Harvest from past and present transactions – client contacts from both sides
    • Networking – Local Chamber of Commerce, Rotary Club, etc.
    • Connectivity – If you just added two people per day each business day of the year, you could effectively grow your book of business to more than 500 within 12 months
    • Acquire the client bases of agents leaving the industry

    Why should you grow your sphere of influence SOONER rather than Later? It’s simple when you consider the average Lifetime Value of a Customer is more than $49,000!

    We wish you every success this year and know that we are here to help!  Contact our support team if you have any questions at 866-405-3638. Good luck out there making it your Year of the Sphere!

    Relationship Marketing Insights with REALTOR Maggie Dokic

    By Julie Escobar

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

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

    This is an excerpt from our interview:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

     

      The year’s second quarter has begun, yet you still have time to implement strategies to ensure you head into summer strong.

      Here are 6 tactics to help you prepare for a booming summer selling season.

      1. Ramp up marketing efforts

      The spring season is an excellent time to intensify your marketing efforts. Consider hosting a spring-themed event in your community to drum up new interest or as a way to showcase your properties.

      Create engaging content on social media platforms to attract potential buyers and sellers actively searching during the spring.

      A postcard from the Spring Series is shown above. To learn more, Click Here.

      2. Targeted client outreach

      Reach out to your existing client database with personalized holiday greetings; through direct mail, phone calls, and in person. We make it easy with our numerous Holiday postcards already done for you!

      This simple gesture can keep your name in the forefront through the spring and summer seasons, reminding past clients of your services, and encouraging referrals.

      3. Network and collaborate

      Attend community functions, networking events, and industry-related gatherings, and sponsor or host an event yourself.

      A few creative ideas include collecting donations in your area for local food banks, setting up a spring decor or garden contest in the community where you farm with a fun prize, or sponsoring a neighborhood block party or garage sale.

      Collaborate with other professionals in the real estate industry, such as mortgage brokers, home inspectors, or interior designers, to provide comprehensive, unique service propositions to your market.

      4. Strategic pricing & preparation

      Adjust pricing strategies to attract serious buyers and sellers and ensure you offer competitive property pricing.

      Highlight any special deals or incentives you currently offer in your marketing, including social media, postcard mailings, emails, and your website.

      Make sure you’re well-prepared for quick transactions. The summer selling season can ramp up quickly with buyers and sellers motivated to complete their transactions, while the kids are off before the fall school season begins. So streamline your processes and ensure you have the necessary resources available.

      5. Focus on client experience

      Providing excellent customer service is always essential, but it can be particularly impactful during the spring and summer selling seasons. Go the extra mile to ensure your clients have a smooth and enjoyable experience. And, as always, check in with your clients often, and answer calls quickly, even if you have your assistant or team member do it.

      Stay updated on market trends and local real estate news. Being well-informed in this continually changing market allows you to provide valuable insights to your clients and market and to position yourself as an industry leader.

      The Content Card Series is shown above. To learn more, Click Here.

      6. Reflect and set goals

      Finally, reflect on your accomplishments and challenges from the first quarter. Use this reflection to set clear, achievable goals for this spring and summer. A roadmap will give you a solid start to the next quarter and beyond.

      By implementing these strategies and maintaining a proactive mindset, you can start the summer selling season strong and set the tone for a promising third and fourth quarter as well.

       

      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 Strategic 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 

      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

       

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