marketing strategies

Seeing Beyond the Present: How the Right Perspective Propels Real Estate Success

Jul 16, 2023

I recently listened to Brian Buffini’s, Bold Predictions 2023: Mid-Year Update and was inspired by his perspective and convictions regarding the remainder of 2023 and what he predicts for 2024.

It made me contemplate the power of perspective in the success of any endeavor.

There are always different viewpoints available on topics that matter, and plenty of economic and housing experts have weighed in on their predictions for the remainder of this year and 2024.

The only question that remains is, what viewpoints are you going to internalize, and what of those are you going to discard? The answer comes down to perspective.

In the journey toward success, challenges are inevitable. They test our resolve, push us outside our comfort zone, and often force us to question our abilities.

However, it is our perspective that determines whether we crumble under the weight of challenges or rise above them.

The power of perspective lies in its ability to shape our mindset, fuel resilience, and unlock opportunities for growth and success.

Here are four ways to adopt an empowering perspective that will pave the way to achieving success, regardless of challenges.

1. Embrace a Growth Mindset

Rather than viewing challenges as insurmountable obstacles, see them as opportunities for learning and personal development.

By embracing a growth mindset, you can approach challenges with a sense of curiosity, seek solutions, and adapt your strategies to overcome obstacles.

2. Find Opportunities in Adversity

Perspective allows us to see beyond the immediate difficulties and recognize the hidden opportunities within challenges. Every setback presents a chance for growth, innovation, and self-discovery.

Adversity often uncovers unexplored paths and possibilities. By shifting our perspective to focus on the opportunities within challenges, we can transform setbacks into launching pads for success.

3. Cultivate Resilience

A resilient mindset allows you to view challenges as temporary and solvable, something I think Brian Buffini is brilliant at doing.

Rather than being overwhelmed by failures or setbacks, see them as stepping stones to success. Embrace challenges as learning experiences, adapt your strategies, and remain determined to achieve your goals.

4. Harness the Power of Positive Thinking

Positive thinking, driven by a constructive perspective, can significantly impact our ability to achieve success. It allows us to shift our focus from problems to solutions, inspiring creativity and innovation.

By maintaining a positive outlook, we can tackle challenges with enthusiasm, attract positive opportunities and empower ourselves to achieve extraordinary outcomes.

Remember, success is not defined by the absence of obstacles but by our ability to confront them head-on, armed with a powerful perspective.

Embrace the power of perspective, and let it propel you towards the remarkable achievements that await on the other side of challenges.

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 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 Plan

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 Interactive 6-Month Real Estate Business Review

The Free Interactive 6-Month Real Estate Business Review allows you to enter your business goals for the remainder of the year and get a breakdown of how many prospects, listings, closing, and so on are needed to reach your 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

Overcoming Homeowner Fears: Encourage Sales with the Power of Empathy

Jul 12, 2023

Engaging homeowners who are hesitant to sell their properties requires a delicate approach. One that is rooted in empathy, understanding, and effective communication.

By having open and honest conversations, you can address homeowners’ concerns, alleviate their fears, and empower them to make informed decisions about selling their homes.

Begin By Creating a Safe and Welcoming Space

Establishing trust is crucial when communicating with homeowners who are afraid to sell. Create a safe and welcoming space where they feel comfortable expressing their concerns and fears.

Listen actively and empathetically to their worries, demonstrating genuine understanding and compassion.

Avoid judgment and assure them that their feelings are valid. By demonstrating an atmosphere of openness, you lay the foundation for effective communication.

Consider conducting a pre-listing interview over the phone, or you can use a free resource like SurveyMonkey.com to create a pre-listing survey for your potential homeowner to complete.

Here’s a “List of Essential Questions to Ask Homeowners to Alleviate Selling Concerns Amidst Market Uncertainty“. You can download it for free HERE.

Educate and Inform

Homeowners often fear selling because of the uncertainties and complexities involved in the process.
Help ease their apprehension by providing clear and concise information about the current real estate market, trends, and recent sales in their area.

Educate them about the potential benefits of selling, such as capitalizing on market conditions, unlocking equity, or downsizing to a more suitable home.

By offering well-researched insights, you empower homeowners with knowledge, enabling them to make informed decisions.

Highlight Personalized Solutions

Recognize that each homeowner’s circumstances are unique, and there is no one-size-fits-all solution. Tailor your communication to address their specific concerns and desires.

Highlight potential solutions that align with their goals, such as offering flexible timelines, assisting with the search for alternative housing, or connecting them with trusted professionals who can help with specific areas of need.

By showing that you understand their individual needs and are committed to finding personalized solutions, you build trust and credibility.

Provide Clarity on Financial Matters

Financial considerations often play a significant role in a homeowner’s fear of selling. Provide clarity on the potential financial implications, including estimated proceeds from the sale, costs involved, and any tax implications.

Offer resources or connect homeowners with financial experts who can provide comprehensive advice on managing the financial aspects of the transaction.

By addressing their concerns about money and ensuring transparency, you instill confidence and help homeowners make informed decisions.

Share Success Stories

Illustrate recent success stories of homeowners who overcame their fears and achieved positive outcomes by selling their properties. Share testimonials from satisfied clients who experienced a smooth selling process, obtained desirable offers, or successfully transitioned to their next home.

Real-life examples help homeowners see that selling can lead to favorable results and reinforce the notion that their concerns are not insurmountable obstacles.

Hearing others’ experiences can inspire confidence and provide reassurance that they, too, can navigate the selling process successfully.

Effectively communicating with homeowners who are afraid to sell their homes requires empathy, understanding, and tailored solutions. By creating a safe space, educating and informing, providing financial clarity, and showcasing success stories, you can empower homeowners to overcome their fears, make informed decisions, and embark on a positive selling journey.

Remember, effective communication lays the groundwork for building trust and fostering successful transactions.

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

2. The Free 6-Month Done-For-You Strategic Marketing Plan

3. The Free Interactive 6-Month Real Estate Business Review

4. The Become a Listing Legend Free eBook

AI’s Role in Real Estate: Revolutionizing the Way Agents Work

Jul 9, 2023

Artificial intelligence, or AI, has been the hot topic of news coverage lately. It seems like we can’t get away from it.

While some experts provide scary future scenarios, others are hailing AI as akin to a wonder drug.

Data analysis and insights

The truth is, right now, AI can provide significant benefits to real estate agents. Here are some ways in which it can enhance your work.

AI can analyze vast amounts of real estate data, including property listings, sales data, market trends, and demographics.

This helps agents make informed decisions, such as determining the right pricing strategy, identifying profitable investment opportunities, and understanding market demand.

Lead generation and management

AI-powered tools can automate lead generation by analyzing online user behavior, social media data, and other sources to identify potential buyers and sellers.

AI can also assist in lead management by categorizing and prioritizing leads based on their likelihood of conversion, allowing agents to focus their efforts on the most promising leads.

Property recommendations

AI algorithms can analyze buyers’ preferences, budgets, and other factors to provide personalized property recommendations. This saves time for real estate agents by narrowing down the options and presenting clients with properties that best match their requirements.

Virtual property tours

AI technologies like virtual reality (VR) and augmented reality (AR) enable brilliant immersive virtual property tours. Real estate agents can provide clients with more realistic virtual walkthroughs of properties, allowing them to explore and evaluate properties remotely. This saves time for both agents and clients by minimizing unnecessary in-person tours.

Natural language processing and chatbots

AI-powered chatbots can handle basic customer inquiries, provide property information, and schedule appointments. Natural language processing enables these chatbots to understand and respond to user queries effectively.

This automation will free up a lot of time, allowing you to focus on more complex tasks and personal interactions.

Market predictions

Here’s where it gets super exciting.

AI algorithms can analyze historical data and market trends to predict future real estate market conditions. Real estate agents can leverage these insights to anticipate changes, make proactive decisions, and develop effective marketing strategies.

AI is poised to be a valuable tool to augment the real estate agent’s skills and efficiency, ultimately enhancing the overall client experience.

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

2. The Free 6-Month Done-For-You Strategic Marketing Plan

3. The Free Interactive 6-Month Real Estate Business Review

4. The Become a Listing Legend Free eBook

Magnify Brand Visibility and Stay Connected the Easy Way with Automated Marketing!

Jun 14, 2023

When clients need a real estate agent, it pays to have an easily recognizable name at their fingertips. But coming up with fresh, eye-catching content and sticking to a regular schedule of sending this content out is incredibly time-consuming.

An automated, recurring marketing campaign is the easiest way to maintain brand exposure and stay relevant; while freeing up time for more high-level tasks.

Put Your Time to Better Use

Automating your marketing ensures you adhere to your long-term marketing strategies because you never miss sending out a campaign.

Scheduling postcard campaigns to go out automatically allows you to focus on prospecting, handling listing appointments, and developing other business growth strategies.

Meanwhile, targeted campaigns are working in the background to drive customer engagement and
ensure clients have your name in mind when it is time to list a home or find a new property.

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

Scheduled postcard campaigns give you the competitive edge

Regardless of speculated market shifts, homebuyers and homeowners will continue looking to trade up or relocate and will reach out to agents to take the plunge.

With an ongoing scheduled postcard campaign, you ensure your name is front and center with your target market when they are ready to strike.

In addition, various campaigns are available with customized messaging to fit certain niche markets. For instance, many fence-sitting homeowners are unsure if this is the right time to sell. The Fence Sitter postcard campaign is designed with the ideal message that speaks to their looming concerns and calms their fears.

The smart money is on automation

According to Lenskold Group, 78% of marketers reported that marketing automation increased revenue.

And 75% of brands saw a return on investment within 12 months due to using automated marketing campaigns (Focus Research study).

Launching an automated marketing campaign is the best way to make every moment count in your business, raise your brand profile, and stay relevant.

To get started launching a scheduled campaign or learn more, Click Here.

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

2. The Free 6-Month Done-For-You Strategic Marketing Plan

3. The Free Interactive 6-Month Real Estate Business Review

4. The Become a Listing Legend Free eBook

Guess Which Buyers Have Joined the Luxury Homebuyer Ranks?

Jun 8, 2023

The media love to promote the idea that our millennial generation is so saddled by student debt that they require a bailout from the American taxpayer.

Guess what? That’s hogwash.

In reality, according to an Experian survey of student loan debt, Gen X and baby boomers, each hold more student loan debt than millennials.

According to a different Experian survey, fewer than half of millennials (42 percent) claim they have never been denied credit. Most surprising is that “… 66 percent of millennials have no student debt at all,” claims the Boston Globe’s Beth Akers.

More important, at least for real estate agents targeting millennial homebuyers, there are more than half a million millionaires in the millennial generation, and “… 93% of them have a net worth ranging from $1 to $2.49 million,” according to Mark Politi at LinkedIn.com, citing Coldwell Banker research.

Recent Engel & Völkers Trend Report surveys find that many have a higher net worth. Of the Americans looking to buy a home for more than $3 million dollars (so-called “peak luxury buyers”), nearly 60% are members of the millennial generation.

The number of younger millionaires will explode with the baby boomer inheritance wealth transfer over the next few decades. And according to the Coldwell Banker Global Luxury study, they will shop for high-end homes.

How can you position yourself to be the go-to agent for this cohort?

Carve out your space on social media

Yes, it takes time, but engaging with others on social media is critical to attracting these luxury homebuyers. Remember, the millennial generation was our first to grow up online.

However, not every social media platform is right for real estate agents. Keep your target market in mind in choosing where to market. For instance, millennials, born between 1977 to 1995, are, in 2023, between the ages of 28 and 46.

Older 40+ millennials are the wealthiest, with the top 1% net worth at nearly $8 million. The top 1% in the 35 to 39 age group is worth more than $4 million. The youngest group’s top 1 percent is about $600,000, according to Levi Rasmussen at WallStreetSurvivor.com.

These statistics should help when choosing which platform to use. Check its demographics to ensure it attracts your target audience.

“There is often a misconception among luxury brands and marketers that digital marketing is incompatible with the luxury industry,” according to Rumble Romagnoli with Relevance, a “… luxury digital marketing agency.”

People believe that UHNWIs [Ultra-High-Net-Worth Individuals] do not engage in social media, do not make online purchases, etc., or that if they do, it is only through super-exclusive social media sites or at private member’s clubs. This is absolutely not the case,” he concludes.

LinkedIn and Facebook are two of the best social media platforms an agent can use to target this audience. You might also consider Instagram ads, Romagnoli suggests.

Concentrate on emphasizing your expertise in both the luxury market and the local real estate market in general.

Erin Nicole Davis, citing an Engel & Volkers luxury homebuyer trend report, adds that “… real estate professionals who provide a personalized, high-touch experience when working with these buyers” will be the winners.

Bonus: You may just end up rolling in referrals!

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

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 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

4. The Become a Listing Legend Free eBook

Is Instagram a Good Place for Real Estate Agents to Market for More Listings?

May 29, 2023

A few weeks ago, we promised to update you on the latest social media demographics. We started with TikTok, and today we dive into Instagram.

The criteria we used when choosing the “best” social media options is simple: Those in your target demographic should use the platform heavily. If that includes buyers and sellers, you’ll want to hang out where baby boomers do.

If, on the other hand, you are targeting millennial real estate consumers, we can show you where to spend your time.

Remember, when it comes to marketing your real estate business, targeting is critical. Otherwise, you are wasting both your time and money.

Let’s talk Instagram

Although India leads the world in Instagram users, with more than 225 million active users, the U.S. comes in second, with “… at least 143.4 million active users,” according to DataReportal.com.

Instagram tends to attract a young crowd in the U.S., with ages 18 to 24 accounting for its largest audience share (27.7). The second-largest share of audience is those aged 25-to-34 … to which 25.7% of Instagrammers belong,” according to data from Oberlo.com.

Pay close attention to this statistic: “As of 2022, around 87% of Instagram’s 1.31 billion users who might potentially be targeted with ads are outside the United States.”

If you’re selling international real estate, this statistic may not bother you. But that nearly 90% of the platform’s targeted users are outside the U.S. should be a deal breaker for real estate agents.

Add to that the young age of the average user. There are platforms with far better demographics if you’re looking for potential homebuyers and sellers.

Who you should be targeting

Although we went over this in our last post about TikTok, in a nutshell, baby boomers are the ones buying and selling right now, making up 39% of buyers. According to the NAR, they have overtaken millennials’ share of the buyer pool (28%).

Sellers? Baby boomers again, but Gen X is part of the pool as well. NAR says the typical seller is 60 years old.

So, we’ve struck out with both TikTok and Instagram. But check back because soon we’ll have the winners of which the-social-media-platforms-are-best-for-real-estate- agents contest.

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

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

3. The Free Interactive Real Estate Business Plan

4. The Become a Listing Legend Free eBook

Take Control of the Real Estate Market Narrative and Keep it Positive

May 22, 2023

“The party’s over for America’s Housing Market …,” blasts a headline from MarketWatch.com.

“Is The Housing Market About To Crash?” asks one at BankRate.com.

This is the real estate news that consumers are hearing daily. It’s quite challenging, in fact, to find positive news.

Even though there is positive news.

It appears that agents who want the good news pushed out to help counter the bad need to take control of the narrative.

If you pride yourself on keeping in touch consistently with those in your CRM, whether by direct mail, social media marketing, or anything else, blasting out the good news is not difficult.

Real estate consumers beg to differ with the media tale

A funny thing happened to the media narrative on its way to becoming an ever-more negative Nellie. Fannie Mae released its Home Purchase Sentiment Index®, proving that real estate consumers are more positive than the media thinks.

“Fannie Mae’s Home Purchase Sentiment Index® (HPSI) jumped 5.5 points to 66.8 in April, marking the highest monthly gain in two years,” Adam Barnes said at TheHill.com.

62% of those surveyed said it’s a good time to sell. This represents an increase of “… 5 percentage points month over month,” Fannie Mae suggests in a recent press release.

Optimism about the housing market from those who will actually be involved in it. Who would’ve thought?

There is more positive news

March was a great month for home sellers. According to ShowingTime, there was an increase in foot traffic through homes for sale (mostly in the Midwest).

The low inventory prevents many would-be buyers from continuing their home searches, so the news that showings increased is very good.

If you have fence-sitting homeowners, share this news with them. And, just FYI, “Not all regions fared the same in March,” according to the pros at ShowingTime.

“The overall increase in showing activity was driven by the Midwest, up 18% from February, and the Northeast, up 15%. The South stayed relatively flat with a monthly increase of 1.4%, and the West dropped 2.7%.”

Your part in the process

Sharing the positive aspects of the market with your potential clients is more important than ever. Blog, post to social media, and create direct mail pieces to grab their attention and fight the negative narrative.

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

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

3. The Free Interactive Real Estate Business Plan

4. The Become a Listing Legend Free eBook

Is TikTok a Good Place for Real Estate Agents to Market for More Listings?

May 16, 2023

In real estate, as in other businesses, it’s important to remember that you need to know who your “audience” consists of if you ever hope to effectively target them with your marketing. Many agents target “anyone who is breathing,” and that’s understandable.

It was how they generated leads as a newbie. They had little other choice. But, think back to those days. That type of marketing is not only expensive but time-consuming as well.

As we grow into our business, we know better than to shoot arrows and hope something sticks. Target marketing is far saner and more efficient.

Who is your audience on social media? It depends a great deal on the platform, first. Some are chock-full of folks you should be reaching out to, while others simply waste time and effort.

It’s time to update our social media recommendations for real estate agents, and we begin with TikTok.

First, let’s nail down your target audience

While it was somewhat lucrative to target first-time buyers in the past, you may want to change your strategy this year. They made up only 26% of last year’s real estate consumers, which is a huge drop from the previous year’s 34%, according to the folks at the NAR.

With the country’s current wonky economy, don’t look for that number to improve this year.

If you plan on sticking with the first-timers, you’ll be targeting folks in their mid-to-late 30s (NAR calls the 36-year-old “The typical first-time buyer.”)

Repeat buyers are always worth an agent’s consideration because of the very real chance that they also have a home to sell. This target’s age is 59 years.

Your largest buyer pool will be the baby boomers, who comprise 39% of all buyers. Millennials have dropped to 28% of the pool.

Finally, if you’re after listings, stick with older Gen X folks and baby boomers. “The typical home seller was 60 years old,” according to the NAR.

When it comes to social media marketing, spend your time on platforms with the robust participation of baby boomers (folks age 59 to 77).

Does that include TikTok?

Not at all. Let’s take a look at who hangs out on TikTok.

According to the platform’s survey of its users:

80 million Americans are “active users” of TikTok.
The largest share of these users (60%) are age 16 to 24. “80% are between the ages 16-34.”
Although Gen X (age 47-58 in 2023) “is highly active on social media … less than 5% of them are on TikTok,” according to digital content provider Gitnux.com.
Baby boomers are almost invisible on the platform. Those who are age 55+ make up 5.1% of users. Throw in the next youngest demographic (age 45-54), and that number nudges up to about 13%, according to Oberlo.com.

Your TikTok takeaway

Unless you love hanging out there, we believe other platforms are far more worth your marketing time and effort (Facebook is one).

Wherever you decide to market on social media, remember that your post needs to be relevant to your target audience.

Check back soon when we look at Instagram and whether it’s worth your marketing time and energy.

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

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

3. The Free Interactive Real Estate Business Plan

4. The Become a Listing Legend Free eBook

Introducing a BRAND NEW ProspectsPLUS! Rewards Program

May 1, 2023

The PLUS! Points Achievement System is a rewards program for prospectsplus.com customers.

Customers can earn PLUS! Points by unlocking various achievements, such as making a specific purchase or completing a task.

PLUS! Points can then be redeemed at any time for an account credit at a rate of 1 point = $.01.

PLUS! Points have an expiration date of one year from the date they are converted into an account credit.

Bonus PLUS! Points: throughout the year, we will offer opportunities to earn bonus PLUS! Points by purchasing a postcard from a new series or completing other tasks. Bonus PLUS! Points will automatically be added to your “Redeem” page on Prospectsplus.com once you have qualified.

Get started earning PLUS! Points NOW, CLICK HERE.

How to Get Started

To get started achieving PLUS! Points begin at your account dashboard.

To locate your account dashboard, click on your name in the upper right corner of our prospectplus.com. A drop-down menu will appear, click on “Dashboard” (see screenshot below).

How to View Achievements

From your dashboard, click “View Achievements” in the upper right-hand corner (see screenshot below).

On the Achievement page, you’ll notice locked achievement badges and maybe even some unlocked badges as well. Be on the lookout for new badges to be added in the future.

A locked achievement badge – will be grayed out and has not been achieved yet. Move your cursor over a locked achievement badge, and it will flip over and display what you need to do to accomplish the badge and how many PLUS! Points it’s worth. To get started completing that badge, click the available link on the backside of the badge.

An unlocked badge – is a badge that you have accomplished. It will be displayed in full color. If you place your cursor over this badge type, it will flip and describe what you did to achieve the badge and how many PLUS! Points you earned (see screenshot below).

Get started earning PLUS! Points NOW, CLICK HERE.

How You’re Awarded PLUS! Points

When you complete an achievement within seconds, a badge will appear on your screen with confetti announcing your accomplishment (see screenshot below), and PLUS! Points will automatically be added to your Redemption account.

How to Redeem PLUS! Points

To redeem PLUS! Points or view your balance, click on “Redeem Points” in the upper right corner of your Dashboard page or Achievements page.

On the Redeem page, you will see a breakdown of all PLUS! Points you’ve achieved, what badges you’ve earned, and how many PLUS! Points you’ve redeemed in the past.

To redeem unused points, click the yellow “Redeem” button on the Redeem page. Your redeemed points will automatically be converted to a credit on your account that can be used during checkout (see screenshot below).

Stay on the lookout for more opportunities to achieve PLUS! Points on ProspectsPLUS.com!

Get started earning PLUS! Points NOW, CLICK HERE.

What Home Buyer Incentives Are Most Popular in the Current Market?

Apr 26, 2023

“ 2 in 5 home sellers are offering concessions to homebuyers,” according to data from Redfin buyers’ agents. It appears that gone are the days when buyers felt the need to waive the home inspection and other contingencies just to win the home in a bidding war.

“… 42% of homes sold in recent months offered buyer incentives,” according to the another Redfin report.

Some cities find more buyer incentives than others. Seattle, Las Vegas, Denver, San Diego and Phoenix lead the way when it comes to sellers being willing to give something up to get their homes sold.

Since the chances are good that you may run into a situation where you’ll need to counsel a client about offering concessions, let’s take a look at some of the most popular.

mortgage rate buy-downs
cash for repairs
cash for closings costs
warranties on household appliances.

Offer to pay points

As we all know, one of the biggest disadvantages in the current real estate market is rising mortgage interest rates.

If you represent sellers that just can’t seem to get the home sold within their deadline, counsel them about what is likely the most effective buyer incentive, paying the buyers’ points.

Check this out: “… lowering the buyer’s interest rate can make their monthly payment a lot more affordable,” according to Christy Bieber at Motley Fool.

If they are weighing just lowering their asking price for the buyer, explain to them that buying down the buyer’s mortgage rate is the better deal. Especially for the seller.

Bieber explains that “… if you had a $300,000 house on the market, dropping your home to $280,000 would have about the same impact as buying down the buyer’s rate by 0.75%.”

“But reducing the buyer’s rate that much would only cost you $9,000, so you’d end up about $11,000 ahead.”

This tactic should be reserved for only those clients who need to sell and are having a hard time doing so. Keep it in your back pocket and pull it out if you suspect that it’s mortgage rates standing in the way (if your listing is a starter home, for instance).

Other popular incentives to speak with your client about include:

Pay a portion of the closing costs
Include personal property if the buyer has expressed an interest
Offer to pay for the first year or so of HOA dues
Warranties are always appreciated
Designate a specific amount of money toward repairs “Seller will pay $500 at closing for repairs.”

Offering incentives to the buyer may be a hard pill to swallow for the seller. Approach the topic at the beginning of the selling conversation so that they aren’t caught by surprise and counsel them on the benefits of offering buyer incentives.

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 Free Interactive Real Estate Business Plan

4. The Become a Listing Legend Free eBook

How to Determine Market Value in a Transitioning Housing Market

Apr 17, 2023

Depending on the condition of the real estate market, preparing a CMA for a listing appointment can be either a snap or it can cause you to go into a total breakdown.

The latter is an exaggeration, but when a market is in flux, a CMA can be challenging to put together.

In a market with rapidly rising home prices, you’ll find that recent home sale prices haven’t caught up to what is actually happening with current sales. In a declining market, the same is true, and you’ll risk overstating market value.

In a nutshell, both transition markets present a conundrum for the listing agent because “… comparable properties reflect yesterday’s home sales rather than the present market value,” which is higher or lower “… than it was even a few weeks earlier,” suggests Carrie B. Reyes at Firsttuesday Journal.

The CMA

For the benefit of the newbie, in a nutshell, compiling a CMA involves the following steps:

Go through the MLS to find recently sold listings and gather three to five that most match the subject property in age, size, number of bedrooms and bathrooms, and lot size.
In a normal market, you would choose comps that sold within the past six months. In a transitioning market, grab comps that have sold most recently.
Typically, you would restrict your comps to within one mile of the subject property. Again, you may have to adjust this proximity outward in the current market.

A while ago, the experts at Fannie Mae put together a guide for appraisers entitled “Fannie Mae Addresses Declining Market Issues,” a copy of which can be found at AppraisalInstitute.org.

You’ll find that some of the information included addresses how to deal with a more rapidly declining market than we are experiencing right now, but you can also take other useful tidbits from it.

Naturally, if this current market transition isn’t your first rodeo, you’ll sail through the market evaluation process with no problem. Less experienced agents, however, may find themselves in a panic or, worse, end up overvaluing their listings.

This is where a mentor would come in quite handy. Lacking such a goldmine of information, you may want to run your final analysis by your broker to ensure it fits current market conditions.

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

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

5. The Become a Listing Legend Free eBook

Get Your Market Leaning in by Using These Three Simple Rules

Apr 12, 2023

Before you launch your next direct mail marketing campaign, add these rules to your list of MUST-DO’S.

Rule #1 Provide a Compelling Call-to-Action

Retailers have an easy time using a “call to action.” Offering a percentage off, free shipping, or buy-one, get-one-free are all popular examples.

What about real estate agents, though? What kind of call-to-action can you provide that might compel a postcard recipient to lean in for more information?

The following are a few attention-getting examples that can potentially engage homeowners and get them to request more information.

• Free Buy First vs Sell First Evaluation
• Free Home Equity Analysis
• Free Local Market Stats
• Free Pre-Listing Consultation

The above call-to-actions are included in the Call to Action Series available on Prospectsplus.com.

Remember that when you use call-to-actions in your marketing, the number of hoops your prospects jump through to redeem the offer impacts the response rate, according to Bob McCarthy at DMNews.com.

The more they have to do to receive that offer, the lower the response rate. So make it as quick and easy as possible for them.

Rule #2 Utilize Standout Designs

“One strategy we use to get our highest response rates is to make the call-to-action the centerpiece of the direct mail piece,” McCarthy claims.
Whether you include an image representing the free offer or use text to describe it, mention it boldly and repeatedly.

Your message (its length and graphic requirements) determines the size and style of the medium.

Plan on keeping it plain and simple? A standard-sized postcard may do the trick, although jumbo, panoramic, and mega-sized postcards stand out in mailboxes, making a genuinely lasting impression.

If it is graphics-heavy and you include substantial copy, using one of the larger postcard sizes (jumbo or panoramic) becomes even more important.

Choose a font that is easy to scan as people sift through their mail. As direct mail experts, we recommend using a sans serif font, such as Arial, rather than Times New Roman or another serif font.

Consider varying the font size throughout the text. For example, you can highlight important items with a larger version of the font you choose.

Additional design tips to keep in mind include ensuring your headline is bold and compelling yet short and specific. Use lots of white space to make the piece appear to be easily digestible.

Subheadings are important, as they help guide the reader through the text. Don’t forget to use high-resolution photographs, and avoid placing text over photos.

Last note, ensure that your call-to-action stands out and that your contact information is easy to find.

If you want to save time and ensure you’ve followed the above rule, these crucial best practices have been applied to the Call to Action Series available on prospectsplus.com.

Rule #3 Track Your Results

Tracking your results is vital to your direct mail campaign. One of the most popular methods agents use is creating a dedicated website landing page.

The URL should be unique to the campaign so you can learn your exact response rate (the number of responses divided by the total number of pieces sent). Marketing experts vary when quoting an “average response rate” for direct mail.

The most recent figure puts it at 9%. How close or far you are from that figure depends on how closely you follow the guidelines outlined above.

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