Saturday, October 12, 2024

niche markets

    There seems to be this fundamental fallacy among many real estate agents that the more money they spend on their businesses, the less there will be for their personal use.

    That simply isn’t the case, according to Heidi Sloss, author of “Fortune is in the Follow-Up: Five POWER Strategies to Grow Your Business.”

    “Too many business owners under-spend on marketing, thinking that not spending is the same as saving,” claims Sloss. While it’s an annoying adage, it really does “take money to make money.”

    Want proof?

    An older study by ActiveRain determined how much real estate agents made and how much they spent.

    Top producing agents earning more than $100,000 per year spent five to 10 times more money on marketing than lower-earning agents.

    Let’s face it, there are a number of money pits in the average real estate practice, from keeping up with the latest technology to what you drive or what you wear.

    The truly important stuff, however – most of what’s in your business plan – is where to focus if you’re looking for ways to gain more clients and grow your business.

    So, while it’s important to invest money in continuing education, professional development, and ensuring you have the office systems in place to make your job easier, none of it means a thing without clients.

    Overcome your Fear

    Remember the scene in the motion picture “Ghost,” where Whoopi Goldberg’s character is forced to endorse a $4 million check “to a bunch of nuns?”

    She struggles, claiming to “… just want to touch it one more time.” Finally, at the point of almost hyperventilating, with tears streaming down her face, Whoopie’s character, Oda Mae, hands the check to one of the nuns but then refuses to let go of it. A tug-of-war of sorts ensues until she finally releases it and dissolves into sobs.

    Is that not exactly what you do in your mind when it comes time to part with your hard-earned money? Especially in a commission-based business, parting with money is frightening. Who knows when you’ll close another deal?

    It’s only natural then that you might question whether any particular investment is really the right thing to do. Marketing dollars are particularly hard to spend.

    What if the campaign doesn’t work? What if I lose this money? These are perfectly valid questions as you tenaciously hold on to your dollar.

    One of the best ways to overcome the fear of spending is by paying close attention to the annual budget every year when you revisit your business plan. Once the money is budgeted, consider it spent. Then, make careful, informed decisions about where to spend the money when it comes time to do so.

    To help you make better buying decisions, visit review sites. Here you can read opinions – both good and bad – about the products real estate agents use in a typical day. Here’s our Google reviews page. Knowing what works for other agents arms you with the information you need to make sound spending decisions.

    The bottom line is that if you really want to grow your real estate business, you’re going to have to spend some money investing in it – whether it’s on marketing, staff, or technology. So, overcome the fear and lose the death grip on the pocketbook.


    6 Reasons to Go After Baby Boomers Right Now
    • They own 26 million homes in the U.S.
    • They control 70% of all wealth in this country.
    • They hold more than 50% of all owner-occupied homes.
    • 41% state they will definitely purchase another home.
    • They are almost completely ignored by the real estate industry. 
    • And, we’re giving you the first 100 prospects on a Baby Boomer list for free right now!

    That’s Right, Discover Baby Boomers in Your Area and GET THE FIRST 100 FREE!

    To get the first 100 on a Baby Boomers Prospect List FREE USE PROMO CODE: BOOM100.

    CLICK HERE to create your list (From a desktop/laptop computer) with the Demographic Search tool.

    This offer expires on January 29th, at midnight.


    Do You Need Help Creating Your Baby Boomer List? Watch This How to Video Below.


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

    1. 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 when. Four key market segments are included, niche Markets, geographic farming, sphere of influence, and past clients. – Click Here

    2. 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


      Sure, you can continue to throw stuff against the wall to see what sticks. It’s a common practice among real estate agents.

      If you want to make more money, however, consider narrowing your focus to owning a specific real estate market or niche.

      A real estate niche can be plucked from a number of categories. Take home type for example. According to a study by the folks at McKissock, a real estate education and professional development firm, agents who specialize in luxury homes are among the highest earners in the industry.

      Aside from property type, there’s the location niche, type-of-client niche (first-time buyers, veterans, etc.), and others.

      There are a lot of specialties from which to choose. Let’s take a look at the potential of older Americans, aka “empty nesters & baby boomers.”

      Especially if you list and sell real estate in an area popular for retirees (Georgia, the Carolinas, and Florida, for instance), read on.

      Empty Nest Campaign shown above. See more under FARM Campaigns, HERE
      Why empty nesters & baby boomers?

      Age 58 to 76 in 2022, older Americans spent much of the past two years reevaluating their priorities.

      “We’re now seeing the ‘Great Retirement,’ a tsunami of Baby Boomers leaving the workforce,” according to Jack Kelly, the senior contributor at Forbes.com.

      In fact, “3.2 million more of them retired in the third quarter of 2020 than did in the same quarter of 2019,” said Kathy Gurchiek with the Society for Human Resource Management (SHRM).

      Most who want to sell, want to remain in close proximity to their adult children, but not necessarily in the same, large home in which they raised them.

      Another reason to consider older Americans is they currently hold the most real estate wealth, owning 44% of homes in the U.S.

      But, are they ready to sell?

      Not all of them. Some became so freaked out over the inventory shortage that they decided to keep the home, renovate it, and age in place.

      But, overall, those “… aged 65 to 73 … sold their homes at a higher rate than any other age group in 2020,” according to Natalie Campisi, a member of the Forbes Advisory staff.

      And your association agrees. The 2021 National Association of REALTORS® “Home Buyers and Sellers Generational Trends Report” finds that baby boomers and empty-nesters make up the largest share of home sellers and second-largest share of buyers.

      Millennials once again took the top spot in the buyers’ category.

      Another area to give your attention is geographic farming

      If you haven’t chosen a geographic farm to concentrate on yet, here are a few reasons to get started now,

      • Provides strategic marketing – You’re centralizing your sales into one area. No more driving across town for a listing.
      • Creates focus You’re committing to becoming the neighborhood expert in a specific area.
      • Contributes to future growth – You’re building toward the future instead of “just getting by” working on whatever comes your way.
      • Brands you within a community – You’re branding yourself within a community and building relationships over time with the people who live there.
      • Increases demand for your service – Sellers and buyers want to work with real estate agents who are experts in the community where they are buying and selling.

      And, right now, Farm Campaigns are on sale 10% off the first month!

      Shown above: Get More Listings postcard campaign, available in the FARM Campaign section. Learn More, HERE.

      To Launch a Farm Campaign Hit the “CLICK HERE” link, below (from a desktop or laptop computer).

      USE PROMO CODE: FARM10 to get 10% off the first month of a FARM Campaign.

      Start now, CLICK HERE!

      Details: Take 10% off the first month of a FARM Campaign for a limited time (excluding tax, postage, data, EDDM. Sale ends at midnight Saturday, 12/18/21).

      Please reach out to our support team at 866.405.3638 with questions or if there is anything we can do to help you with your success.


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

      1. 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 when. Four key market segments are included, niche Markets, geographic farming, sphere of influence, and past clients. – Click Here

      2. 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

      3. The Automated Way to 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.

      4. The Free Real Estate Mailing List Guide

      This image has an empty alt attribute; its file name is Real-Estate-Mailing-List-Guide2-3-D-999x1024.jpg

      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

      5. The Become a Listing Legend Free eBook 

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

      Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

      6. The Free Online ROI Calculator

      This image has an empty alt attribute; its file name is ROI-calculator-b-233x300.jpg

      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” 

      This image has an empty alt attribute; its file name is CRUSH-IT-Guide-3-d-298x300.jpg

      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

      While you’re online scheduling your Holiday postcards to go out, consider launching an annual Holiday scheduled campaign.

        Many millennials have exited the market. Millions more, however, are itching to buy a home. Millennials, the generation born between 1977 to 1995 (Center for Generational Kinetics), number more than 83 million.

        It’s rather challenging to paint broad strokes with a group of people this large. They are currently between the ages of 25 and 43, which makes pinning down their preferences, attitudes and lifestyle even tougher.

        We do know who among them is in the real estate market and what this group is seeking in a home.

        Millennials in the real estate market

        Three of the top five metropolitan areas that Millennial homebuyers are flocking to are located in Texas – Dumas and Eagle Pass, number one and two, respectively and Midland at number four.

        Hastings, Nebraska and Williston, North Dakota round out the top five, according to Ellie Mae’s Millennial Tracker.

        We’ve all heard of the exodus from big cities to smaller ones or even rural areas and this seems to be the proof.

        Here’s what else the Tracker tells us about the average Millennial homebuyer:

        • The average age is 31
        • 60% are married
        • Average FICO score: 740
        • The average loan amount is $211,050
        • The average appraised value of the homes they are buying is $267,456
        • Most (81%) obtain a conventional loan, with only 16% using a FHA loan and 1% a VA loan. Two percent of the loan types were “unspecified.”
        What are they looking for in a home?

        The 2020 Millennial Homebuyer Report found that the average Millennial homebuyer is seeking a home with about 1,700 square feet of living space.

        First Time Buyer Series

        “While these younger consumers may not aspire to have a McMansion, modern homes with new and different amenities are absolutely important,” according to Jeff Fromm, “expert on Millennials,” at Forbes.com.

        The pandemic has changed not only where homebuyers are choosing to live but their preferences in homes as well. Millennials are seeking the same, what is now considered basic, amenities as older buyers.

        They are especially focused on “…  where they can establish a ‘home office’ or a ‘home school’ or both,” within the homes they are considering purchasing,” Allan Merrill, CEO of Beazer Homes, tells Fromm.

        And, kitchens are still important. “Not necessarily smaller, but simpler, healthier, and smarter with as much visibility and natural light as possible,” according to Josh Kassing at BDMag.com (citing the National Kitchen + Bath Association’s 2020 Market Outlook).

        The neighborhood is key to Millennials as well. “Our younger buyers are typically very interested in being outside,” Merrill continues. Beazer homes is concentrating on adding amenity centers, pools, a dog park, walking trail and/or “access to a park or open space,” to their new neighborhoods.

        “After sheltering-in-place for four or five months,” according to Kassing, “and faced with growing families, they’re longing for more space—especially outside and not necessarily just for their kids.”

        He goes on to state that more than 80% of the cohort are dog owners and space for the pooch is critical.

        Deal breakers

        If you hold a listing that you assume is ideal for a Millennial, make sure that the homeowner takes care of the following “deal breakers,” according to the Millennial Homebuyer Report:

        • Mold
        • Pest / Insect infestation
        • Foundation issues
        • Leaky roof
        • Odd smells

        Deal makers? Urge your listing clients with smaller homes with yards to create an office or homeschool space to appeal to the commute-averse Millennial. It can be as simple as using an extra bedroom or the attic.

        Stage the backyard to give the Millennial buyer and idea of the lifestyle it affords.

        How to reach these homebuyers

        More than one-third of Millennials surveyed for the Homebuyer Report said that they will use a first-time homebuyer assistance program to help with their down payment.

        4 Low Down Payment Mortgage Options Direct Response Report

        The 4 Mortgage Options with Low Down PaymentsDirect Response Report highlights down payment options as low as 3% down. Download this report and include it in your listing presentations. In addition, offer it as an opt-in on your website and free offer on your direct mail pieces.

        Yes, it’s common knowledge that one of the best ways to reach this cohort is through social media. But it’s not a “one and done” method of communication. It requires consistency to make a difference.

        To attract the attention of Millennials on social media:

        • Post regularly
        • Use clear, compelling photos featuring people like them
        • Promote suitable listings with ads on Facebook
        • Join Facebook groups and engage (as an everyday person, not an agent) consistently
        • Use relevant hashtags
        • Have the perfect listing for a Millennial? Create a single-listing website and share the URL on social media
        • Highlight your best testimonials on your home page and sprinkle them throughout the rest of your website pages. Social proof is critical to Millennials.

        Most of all, Millennials crave information on the process, from comparing mortgage rates to getting a mortgage all the way through closing.

        And, you’re the perfect person to provide this information.

        First Time Buyer Series
        Send a postcard from the First Time Buyer Series to a targeted list of Millennials in your area.

        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

        This image has an empty alt attribute; its file name is Real-Estate-Mailing-List-Guide2-3-D-999x1024.jpg

        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

        This image has an empty alt attribute; its file name is 2020-Planner-3D-999x1024.jpg

        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

        This image has an empty alt attribute; its file name is ROI-calculator-b-233x300.jpg

        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” 

        This image has an empty alt attribute; its file name is CRUSH-IT-Guide-3-d-298x300.jpg

        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