As you grow your real estate business, you should find yourself working more and more from referrals. Are you setting yourself up for success? - Kim
Know Where Your Next Lead is Coming From
Word of mouth versus working by referral
by Brian Buffini
While the summer months may be heating up, we are in a real estate market that has witnessed a significant cooling-down period. With longer listings, rising rates and an increasing inventory, we are now seeing what a normal market looks like. This is a cyclical business. Never static, market fluctuations can be expected as a matter of course.
You cannot afford to stand still and wait for business to show up at your door. This is no time to rely on word of mouth; it’s high time to get engaged with actively building your business—by referral.
Word of mouth versus working by referral may not sound like a choice between two extremes, but there is a vast difference between the two.
Word of Mouth
A word-of-mouth business is about waiting. You sit in your office hoping that the work you have done will speak for itself and people will naturally refer you to others. Now, while the work may speak for itself, the likelihood of people automatically referring you is very slim. Remember this: people do not lie awake at night worrying about how your business is going. This simply does not happen. Just as you don’t have time to worry about how all those you know are doing in their businesses, they too are busy with their own concerns and must be reminded that you appreciate their referrals.
Word of mouth is an unstructured way to do business. It lacks control in that you don’t know what a client is going to say about you—whether it’s positive or negative. For instance, a transaction goes awry for reasons you could not control. Clients know when you are doing your best and when you aren’t; they know when things cannot be controlled and when they can. Working by referral requires that you consistently perform at your best; if you don’t provide excellent service, you won’t be someone they can put their name to, and the word-of-mouth advertising you get might not be so positive.
Being passive with your business means you are not actively searching for clients. Relying on friends and family to send random referrals your way is a very unsteady foundation for your business. Everyone wishes that leads would come rolling in with minimal effort, but to build a thriving business, you need to get out there and get face-to-face with people. This is where working by referral stands out.
Working by Referral
Working by referral is the best way to generate a steady stream of high-quality clients. Keeping your name at the forefront of your clients’ minds and being associated with exceptional service is what it means to work by referral. It is a philosophy of exceeding client expectations and literally becoming their Realtor for life. It truly is the noblest way to do business—client trust based on your character and competence. When reminded, clients will sell you better than you could sell yourself, especially during the transaction. However, if they don’t know you would like them to refer others to you, it probably won’t dawn on them to do so.
You must be proactive about telling them you work by referral, not once, not twice, but repeatedly. So long as you do a great job, staying in contact with a systematic Client Appreciation Program can guarantee your working-by-referral business. Implementing systems in your business puts you in a stronger position to succeed. It’s why our clients see the incredible results they do—far above the national average.
There is a clear difference between random, passive referrals and proactive, intentional lead generation:
Word of mouth = waiting
Working by referral = finding
Word of mouth = passive
Working by referral = proactive
Word of mouth = fearful
Working by referral = certainty
Word of mouth = inconsistent
Working by referral = predictable
Everybody hopes to get referrals, but unless you have proactive systems in place, you’ve got a word-of-mouth business—not a working by referral business. The great strength in working by referral is the peace of mind in knowing you can rely on a steady stream of leads—regardless of what the market is doing. It’s up to you; passively wait for word-of-mouth clients or proactively build business by referral. RE
Brian Buffini is the founder and chairman of Buffini & Company. For more information, visit http://www.buffiniandcompany.com/.
Monday, July 31, 2006
Friday, July 28, 2006
Prospect Follow-Up: 3 Common Mistakes
This is excerpted from an article by Craig Proctor (http://www.brokeragentnews.com/news/residential/2006_7/7_21_2006_wm_1153540009.html), from the Broker Agent News website. Are you making any of these mistakes? It could be costing you business. - Kim
Mistake # 1: Expecting a prospect to call back
I had a guy on the line who was ready to list his house, and I was trying to nail him down for an appointment. He was putting me off for some reason—either he had to check his daytimer, or he had to check with his wife to see what time was good for her. Whatever his reason was, I didn't push it. I told him to call me back with a good time to meet.
Well, he didn't call me back and I guess I forgot about it. In my mind, I guess, I'd already converted him and we were simply down to the formality of when to meet. But when I checked the hot sheets about a week later, I saw that he had listed with another agent before I had a chance to call him back.
My big mistake was leaving the whole thing in his hands. I should not have let him off the phone without setting a meeting time. What I should have done was set a tentative date with him so the onus on call back was now on his shoulders. If I'd said "Okay, why don't we tentatively say Thursday at 3 pm, and if that turns out to be a problem for you, give me a call back. Otherwise I'll be there Thursday at 3 pm", now suddenly it's his responsibility to firm that up. I don't have to call him back. He knows that unless he calls me back, I'm going to show up at his house Thursday at 3 pm.
You should do the same in your business. If you find that a prospect is putting you off for some reason, arrange a tentative time so that the onus is now on them.
Mistake # 2: Delaying a prospect who is ready to list
The second mistake I made was putting off a lady who was ready to list. I had called this lady on a Wednesday night to follow up on a special report request she had made. She admitted that she was ready to list her house and wondered if I were free that evening. I can't remember why I wasn't—it wasn't convenient or I just didn't feel like going out at that time. Whatever it was, I set up a meeting with her the following Monday.
Well, Monday morning I got an email from her to cancel the appointment because she'd listed with another agent on Sunday night. So my big mistake this time was putting off someone too long who was ready to list. If your prospect is good, make your appointment as close to "now" as possible—a half hour after your telephone conversation would be good. The more time that elapses, the more things that can go wrong.
Mistake # 3: Lacking Clarity when Communicating
I have modified a line in my call back script that used to say: "Would you prefer to buy first or sell first?". What I found is that my prospects didn't really understand this. They'd answer that they supposed they really wanted to do both at the same time—they didn't really understand what I was asking them. I thought this was just me, but I was listening to some tapes of some of my coaching members the other day (as I reviewed and critiqued their call backs) and I found that their prospects were saying the same thing.
The new wording attempts to clarify the issue by saying it this way: "Would you prefer to make an offer on your next home before you list your present home for sale, or do you want to sell the home you're in before you make an offer on your next home?" Clearly, what you're trying to establish is whether you should be treating them as a buyer or a seller.
When asking this question, make this distinction clear to them. Ask them whether they think they'd like to list their present home first, before they start looking for their next home (i.e. get a sense of outside interest in their home before they commit to moving), or whether they want to start looking for their next home first before they actually take the step of listing their current home (i.e. get a sense of their interest in what is out there before they commit to moving.) Their answer to this question is important as it will help you understand which offer to communicate first. Making the correct offer to prospects should not be guesswork. If you ask them, they'll tell you.
Mistake # 1: Expecting a prospect to call back
I had a guy on the line who was ready to list his house, and I was trying to nail him down for an appointment. He was putting me off for some reason—either he had to check his daytimer, or he had to check with his wife to see what time was good for her. Whatever his reason was, I didn't push it. I told him to call me back with a good time to meet.
Well, he didn't call me back and I guess I forgot about it. In my mind, I guess, I'd already converted him and we were simply down to the formality of when to meet. But when I checked the hot sheets about a week later, I saw that he had listed with another agent before I had a chance to call him back.
My big mistake was leaving the whole thing in his hands. I should not have let him off the phone without setting a meeting time. What I should have done was set a tentative date with him so the onus on call back was now on his shoulders. If I'd said "Okay, why don't we tentatively say Thursday at 3 pm, and if that turns out to be a problem for you, give me a call back. Otherwise I'll be there Thursday at 3 pm", now suddenly it's his responsibility to firm that up. I don't have to call him back. He knows that unless he calls me back, I'm going to show up at his house Thursday at 3 pm.
You should do the same in your business. If you find that a prospect is putting you off for some reason, arrange a tentative time so that the onus is now on them.
Mistake # 2: Delaying a prospect who is ready to list
The second mistake I made was putting off a lady who was ready to list. I had called this lady on a Wednesday night to follow up on a special report request she had made. She admitted that she was ready to list her house and wondered if I were free that evening. I can't remember why I wasn't—it wasn't convenient or I just didn't feel like going out at that time. Whatever it was, I set up a meeting with her the following Monday.
Well, Monday morning I got an email from her to cancel the appointment because she'd listed with another agent on Sunday night. So my big mistake this time was putting off someone too long who was ready to list. If your prospect is good, make your appointment as close to "now" as possible—a half hour after your telephone conversation would be good. The more time that elapses, the more things that can go wrong.
Mistake # 3: Lacking Clarity when Communicating
I have modified a line in my call back script that used to say: "Would you prefer to buy first or sell first?". What I found is that my prospects didn't really understand this. They'd answer that they supposed they really wanted to do both at the same time—they didn't really understand what I was asking them. I thought this was just me, but I was listening to some tapes of some of my coaching members the other day (as I reviewed and critiqued their call backs) and I found that their prospects were saying the same thing.
The new wording attempts to clarify the issue by saying it this way: "Would you prefer to make an offer on your next home before you list your present home for sale, or do you want to sell the home you're in before you make an offer on your next home?" Clearly, what you're trying to establish is whether you should be treating them as a buyer or a seller.
When asking this question, make this distinction clear to them. Ask them whether they think they'd like to list their present home first, before they start looking for their next home (i.e. get a sense of outside interest in their home before they commit to moving), or whether they want to start looking for their next home first before they actually take the step of listing their current home (i.e. get a sense of their interest in what is out there before they commit to moving.) Their answer to this question is important as it will help you understand which offer to communicate first. Making the correct offer to prospects should not be guesswork. If you ask them, they'll tell you.
Wednesday, July 26, 2006
Are you prepared to win their business?
Smart consumers will interview several agents before choosing someone to work with. About.com recommends that each buyer/seller ask the following of their agent before chosing who to work with. Are you prepared to answer them?
1) How Long Have You Been in the Business?
The standard joke is there's nothing wrong with a new agent that a little experience won't fix. But that's not to say that freshly licensed agents aren't valuable. Much depends on whether they have access to competent mentors and the level of their training. Newer agents tend to have more time to concentrate on you. Some agents with 20 years of experience repeat their first year over and over. Other 20-year agents learn something new every year.
2) What is Your Average List-Price-to-Sales-Price Ratio?
Knowing the agent's average ratio speaks volumes. Excluding sizzling seller's markets, a good buyer's agent should be able to negotiate a sales price that is lower than list price for buyers. A competent listing agent should hold a track record for negotiating sales prices that are very close to list prices. Therefore, listing agents should have higher ratios closer to 100%. Buyer's agent ratios should fall below 99%.
3) What is Your Best Marketing Plan or Strategy for My Needs?
Buyers will want to know:
• How will you search for my new home?
• How many homes will I likely see before I find a home I want to buy?
• Will I be competing against other buyers?
• How do you handle multiple offers?
• Do you present offers yourself?
Sellers will want to know:
• Specifically, how will you sell my home?
• What is your direct mail campaign?
• Where and how often do you advertise?
• Will you show me a sample flyer?
• How do you market online?
4) Will You Please Provide References?
Everybody has references. Even new agents have references from previous employers.
• Ask to see references.
• Ask if any of the individuals providing references are related to the agent.
• Ask if you can call the references with additional questions.
5) What Are the Top Three Things That Separate You From Your Competition?
A good agent won't hesitate to answer this question and will be ready to fire off why she is best suited for the job. Everyone has their own standards, but most consumers say they are looking for agents who say they are:
• Honest and trustworthy
• Assertive • Excellent negotiators
• Available by phone or e-mail
• Good communicators
• Friendly
• Analytical
• Able to maintain a good sense of humor under trying circumstances
6) May I Review Documents Beforehand That I Will Be Asked to Sign?
A sign of a good real estate agent is a professional who makes forms available to you for preview before you are required to sign them. If at all possible, ask for these documents upfront.
Buyer will ask for copies of the following:
• Buyer's Broker Agreement (is it exclusive or non-exclusive?)
• Agency Disclosures
• Purchase Agreement
• Buyer Disclosure
Sellers will ask to see:
• Agency Disclosure
• Listing Agreement
• Seller Disclosures
7) How Will You Help Me Find Other Professionals?
Let the real estate agent explain to you who she works with and why she chooses these professionals. Your agent should be able to supply you with a written list of referring vendors such as mortgage brokers, home inspectors and title companies. Ask for an explanation if you see the term "affiliated" because it could mean that the agent and her broker are receiving compensation from one or all of vendors, and you could be paying a premium for the service.
8) How Much Do You Charge?
Don't ask if the fee is negotiable. All real estate fees are negotiable. Typically, real estate agents charge a percentage, from 1% to 4% to represent one side of a transaction: a seller or a buyer. A listing agent may charge, for example, 3.5% for herself and another 3.5% for the buyer's agent, for a total of 7%.
9) What Kind of Guarantee Do You Offer?
If you sign a listing or buying agreement with the agent and later find that you are unhappy with the arrangement, will the agent let you cancel the agreement? Will the agent stand behind her service to you? What is her company's policy about canceled agreements? Has anybody ever canceled an agreement with her before?
10) What Haven't I Asked You That I Need to Know?
Pay close attention to how the real estate agent answers this question because there is always something you need to know, always. You want an agent to take her time with you -- to make sure you feel comfortable and secure with her knowledge and experience. She should know how to listen and how to counsel you, how to ask the right questions to find out what she needs to know to better serve you.
Source: About.com
1) How Long Have You Been in the Business?
The standard joke is there's nothing wrong with a new agent that a little experience won't fix. But that's not to say that freshly licensed agents aren't valuable. Much depends on whether they have access to competent mentors and the level of their training. Newer agents tend to have more time to concentrate on you. Some agents with 20 years of experience repeat their first year over and over. Other 20-year agents learn something new every year.
2) What is Your Average List-Price-to-Sales-Price Ratio?
Knowing the agent's average ratio speaks volumes. Excluding sizzling seller's markets, a good buyer's agent should be able to negotiate a sales price that is lower than list price for buyers. A competent listing agent should hold a track record for negotiating sales prices that are very close to list prices. Therefore, listing agents should have higher ratios closer to 100%. Buyer's agent ratios should fall below 99%.
3) What is Your Best Marketing Plan or Strategy for My Needs?
Buyers will want to know:
• How will you search for my new home?
• How many homes will I likely see before I find a home I want to buy?
• Will I be competing against other buyers?
• How do you handle multiple offers?
• Do you present offers yourself?
Sellers will want to know:
• Specifically, how will you sell my home?
• What is your direct mail campaign?
• Where and how often do you advertise?
• Will you show me a sample flyer?
• How do you market online?
4) Will You Please Provide References?
Everybody has references. Even new agents have references from previous employers.
• Ask to see references.
• Ask if any of the individuals providing references are related to the agent.
• Ask if you can call the references with additional questions.
5) What Are the Top Three Things That Separate You From Your Competition?
A good agent won't hesitate to answer this question and will be ready to fire off why she is best suited for the job. Everyone has their own standards, but most consumers say they are looking for agents who say they are:
• Honest and trustworthy
• Assertive • Excellent negotiators
• Available by phone or e-mail
• Good communicators
• Friendly
• Analytical
• Able to maintain a good sense of humor under trying circumstances
6) May I Review Documents Beforehand That I Will Be Asked to Sign?
A sign of a good real estate agent is a professional who makes forms available to you for preview before you are required to sign them. If at all possible, ask for these documents upfront.
Buyer will ask for copies of the following:
• Buyer's Broker Agreement (is it exclusive or non-exclusive?)
• Agency Disclosures
• Purchase Agreement
• Buyer Disclosure
Sellers will ask to see:
• Agency Disclosure
• Listing Agreement
• Seller Disclosures
7) How Will You Help Me Find Other Professionals?
Let the real estate agent explain to you who she works with and why she chooses these professionals. Your agent should be able to supply you with a written list of referring vendors such as mortgage brokers, home inspectors and title companies. Ask for an explanation if you see the term "affiliated" because it could mean that the agent and her broker are receiving compensation from one or all of vendors, and you could be paying a premium for the service.
8) How Much Do You Charge?
Don't ask if the fee is negotiable. All real estate fees are negotiable. Typically, real estate agents charge a percentage, from 1% to 4% to represent one side of a transaction: a seller or a buyer. A listing agent may charge, for example, 3.5% for herself and another 3.5% for the buyer's agent, for a total of 7%.
9) What Kind of Guarantee Do You Offer?
If you sign a listing or buying agreement with the agent and later find that you are unhappy with the arrangement, will the agent let you cancel the agreement? Will the agent stand behind her service to you? What is her company's policy about canceled agreements? Has anybody ever canceled an agreement with her before?
10) What Haven't I Asked You That I Need to Know?
Pay close attention to how the real estate agent answers this question because there is always something you need to know, always. You want an agent to take her time with you -- to make sure you feel comfortable and secure with her knowledge and experience. She should know how to listen and how to counsel you, how to ask the right questions to find out what she needs to know to better serve you.
Source: About.com
Friday, July 21, 2006
Coping with a shifting real estate market
What are the signs that your business may be experiencing slow death?
Determine whether each of the following statements is "true" or "false" for you.
1. I regularly attend conferences and training in search of innovations that will give me a competitive edge.
2. I have mastered the scripts and dialogues that allow me to obtain listings at the right price and to obtain price reductions where necessary.
3. I have an Internet marketing program that includes both organic and pay-per-click strategies.
4. My assistant and/or I respond to all Web and telephone inquiries as soon as possible, but always before the end of the business day.
5. I use an automated lead follow-up program that allows me to respond to Web inquiries instantaneously.
6. I either own or am considering purchasing a tablet computer so I can go paperless within the next 12 months.
7. My Web site consistently generates good leads that I convert into closed business.
8. I track market statistics and have mastered the scripts and dialogues that allow me to work effectively with both buyers and sellers.
9. I publish a regular e-mail newsletter that goes out to all of my clients as well as to my sphere of influence.
10. I use blogging to build my Web site traffic.
SCORING: The more "false" answers you have, the more likely your business will suffer from the deep changes taking place in our industry. While it's not necessary to do all of the items outlined above, failing to do them places you at a competitive disadvantage.
Monday, July 17, 2006
Can Myspace.com and other Social Networking sites help your RE Business?
The media have been making a big deal recently about social networking sites such as Myspace. They tend to focus on how it is being used by teenagers, but their articles usually leave out any serious discussion about how social networking sites can be used to help spread the word about your Real Estate business.
Below is a link to an article that talks about Social Networking and how you can use it for Real Estate.
Social Networking in Real Estate
http://www.raincityguide.com/2006/05/02/social-networking-in-real-estate/print/
Tuesday, July 11, 2006
Simple Steps to Increase Your Marketing ROI
The article below was writen by our marketing manager here at Z57...She makes some good points - Kim
10 Simple Secrets to Explode the Return on Your Internet Marketing Buck
by Melani Broman
Internet marketing has many powerful advantages over traditional advertising. Home buyers and sellers are actively looking for your services online and customers who find you online are the warmest, most qualified leads. Measurable results can be felt instantly and the average cost of a lead is often lower than that of other media.
[stat: Industry reports predict that real estate ad spending in online media will surpass print advertising in 2009]
Read these top 10 tips and become a marketing genius. Never say "I think" unless you don't. Be certain and improve online profits and optimize your Internet investment immediately.
1. Become truly "marketing minded." When agents think of marketing the majority think of sell, sell, sell. There is another dimension, branding, ensuring that you meet customer needs in a way that is different from your competition. Ask yourself: Do my customers really see me as different from my closest competitors? Use your website as one of the tools to differentiate yourself. Provide reports and local resources and become the local expert.
2. Register optimal domain names. Registering domain names has become as easy as buying a gallon of milk at the grocery store. Register your name, and variations unique to the area. Most importantly, make sure to secure www.YourCityHomes.com, www.YourFarmingArea.com and all other variations. We've seen agents register a domain and have their top competitor register the '.net', so don't forget to register .com, .net, .biz, regardless if you use these domains.
You are not alone if you have a domain name that looks similar to this - www.youragency.com/office3/agentname. This is not an optimal domain, it's too long, hard to remember and doesn't support your overall brand identity.
3. Create a user friendly website design. Make your website is easy to read, navigate and find. You will still see a lot of agent websites with black backgrounds and small yellow text - this is not easy on the eyes. Focus on usability first, with your visitors goals in mind so they can easily navigate through your site. If your visitors cannot find what they want quickly and easily, they will simply go to your competitor who is just a click away.
[stat: Of homebuyers, 57% select the first agent they visit]
4. Include advanced home search functions on your website. The top reason consumers visit real estate websites in the first place is to SEE LISTINGS. A lot of websites display the whole MLS, how are you separating your home search function from other agents? Get IDX, provide free home updates via email, add rich media virtual tours and take advantage of the many enhanced mapping capabilities on the market.
5. Optimize your site with rich content, meta tags and body copy. Understanding and selecting the most effective keywords that potential visitors are using to arrive at your website is essential to optimize your Internet investment. Use tools like WordTracker and prepare you list of keywords. Remember the importance of keyword prominence and place your keyword phrases early in the body text of the page. Try to craft the beginning text so that it is appropriate to be used as a description of your site. Using techniques such as these will increase your chances of being ranked in the top search engines, thus increasing the number of visits to your site.
[stat: 74% of today's consumers use the Internet to search for homes versus 52% who use the newspaper.]
6. Accelerate your website traffic. Putting a website online with no marketing strategy is money down the drain. One step to driving traffic to your site is search engine optimization and gaining top search engine rankings, which can often take months. Agents who are looking for immediate results can use pay for performance traffic programs. For example, you can bid on local areas or keywords and receive website inquiries from potential buyers in those targeted areas within 72 hours.
7. Measure Link Popularity. Measure and monitor with tools like MarketLeap. Link Popularity refers to the quality and the quantity of external links to your website and it is one of the most important criteria used by the search engines to determine your site's ranking. The benefits of increasing your site's Link Popularity are:
8. Evaluate where your website stands now. Measuring your Internet marketing investment and website conversion will help you to improve your returns in the future. Set clearly defined objectives so you can go back and compare against what you hoped to obtain over the year. For example, you set a goal to obtain 30 hot leads from your website in the next 60 days and to close 3 new homes.
9. Invest in a lead management system. Consumers are becoming increasingly more demanding when it comes to response time. They want quality information and fast. Take advantage of systems that do the work for you, while you are out showing homes. Automatically send out new listings and email updates, keep your prospects engaged and build long term relationships.
[stat: 65% of real estate consumers on the Internet expect a response time of four hours or less to their online inquiries]
10. Partner with a real estate Internet marketing expert. Home buyers and sellers are using the Internet at alarming rates. In the long run, agents who don't embrace technology will get left behind. Most successful real estate agents and brokers are turning to marketing experts to assist them with their Internet marketing strategies. It is essential to partner with a company that offers a complete agent solution, campaign management, website creation and lead generation. Do not choose specialists who do not fully understand the complex needs of agents.
It goes without saying, the Internet has had a tremendous impact on the real estate industry. Take a look at your current internet marketing strategies and compare those to what your top competitor is doing. The truth is that Internet consumers are plowing into real estate portal sites looking for your listings. You just need to have a proactive Internet marketing strategy.
About the Author: Melani Broman is Online Marketing Manager at Z57 Internet Solutions, a real estate Internet marketing company based in San Diego, California. Founded in 1998 the company employs over 200 individuals and specializes in complete eMarketing campaign management, website creation and lead generation. Discover 17 reasons why most real estate websites fail AND find out what others are doing to make their websites lead generating machines here. To reach Melani, please email melani@z57.com
10 Simple Secrets to Explode the Return on Your Internet Marketing Buck
by Melani Broman
Internet marketing has many powerful advantages over traditional advertising. Home buyers and sellers are actively looking for your services online and customers who find you online are the warmest, most qualified leads. Measurable results can be felt instantly and the average cost of a lead is often lower than that of other media.
[stat: Industry reports predict that real estate ad spending in online media will surpass print advertising in 2009]
Read these top 10 tips and become a marketing genius. Never say "I think" unless you don't. Be certain and improve online profits and optimize your Internet investment immediately.
1. Become truly "marketing minded." When agents think of marketing the majority think of sell, sell, sell. There is another dimension, branding, ensuring that you meet customer needs in a way that is different from your competition. Ask yourself: Do my customers really see me as different from my closest competitors? Use your website as one of the tools to differentiate yourself. Provide reports and local resources and become the local expert.
2. Register optimal domain names. Registering domain names has become as easy as buying a gallon of milk at the grocery store. Register your name, and variations unique to the area. Most importantly, make sure to secure www.YourCityHomes.com, www.YourFarmingArea.com and all other variations. We've seen agents register a domain and have their top competitor register the '.net', so don't forget to register .com, .net, .biz, regardless if you use these domains.
You are not alone if you have a domain name that looks similar to this - www.youragency.com/office3/agentname. This is not an optimal domain, it's too long, hard to remember and doesn't support your overall brand identity.
3. Create a user friendly website design. Make your website is easy to read, navigate and find. You will still see a lot of agent websites with black backgrounds and small yellow text - this is not easy on the eyes. Focus on usability first, with your visitors goals in mind so they can easily navigate through your site. If your visitors cannot find what they want quickly and easily, they will simply go to your competitor who is just a click away.
[stat: Of homebuyers, 57% select the first agent they visit]
4. Include advanced home search functions on your website. The top reason consumers visit real estate websites in the first place is to SEE LISTINGS. A lot of websites display the whole MLS, how are you separating your home search function from other agents? Get IDX, provide free home updates via email, add rich media virtual tours and take advantage of the many enhanced mapping capabilities on the market.
5. Optimize your site with rich content, meta tags and body copy. Understanding and selecting the most effective keywords that potential visitors are using to arrive at your website is essential to optimize your Internet investment. Use tools like WordTracker and prepare you list of keywords. Remember the importance of keyword prominence and place your keyword phrases early in the body text of the page. Try to craft the beginning text so that it is appropriate to be used as a description of your site. Using techniques such as these will increase your chances of being ranked in the top search engines, thus increasing the number of visits to your site.
[stat: 74% of today's consumers use the Internet to search for homes versus 52% who use the newspaper.]
6. Accelerate your website traffic. Putting a website online with no marketing strategy is money down the drain. One step to driving traffic to your site is search engine optimization and gaining top search engine rankings, which can often take months. Agents who are looking for immediate results can use pay for performance traffic programs. For example, you can bid on local areas or keywords and receive website inquiries from potential buyers in those targeted areas within 72 hours.
7. Measure Link Popularity. Measure and monitor with tools like MarketLeap. Link Popularity refers to the quality and the quantity of external links to your website and it is one of the most important criteria used by the search engines to determine your site's ranking. The benefits of increasing your site's Link Popularity are:
- Improved search engine rankings, particularly on Google, Yahoo and MSN.
- Direct increase in traffic via links from other websites. Ask for reciprocal links through your business network. Real Estate is largely based on building a strong referral network, which will help you grow your business.
8. Evaluate where your website stands now. Measuring your Internet marketing investment and website conversion will help you to improve your returns in the future. Set clearly defined objectives so you can go back and compare against what you hoped to obtain over the year. For example, you set a goal to obtain 30 hot leads from your website in the next 60 days and to close 3 new homes.
9. Invest in a lead management system. Consumers are becoming increasingly more demanding when it comes to response time. They want quality information and fast. Take advantage of systems that do the work for you, while you are out showing homes. Automatically send out new listings and email updates, keep your prospects engaged and build long term relationships.
[stat: 65% of real estate consumers on the Internet expect a response time of four hours or less to their online inquiries]
10. Partner with a real estate Internet marketing expert. Home buyers and sellers are using the Internet at alarming rates. In the long run, agents who don't embrace technology will get left behind. Most successful real estate agents and brokers are turning to marketing experts to assist them with their Internet marketing strategies. It is essential to partner with a company that offers a complete agent solution, campaign management, website creation and lead generation. Do not choose specialists who do not fully understand the complex needs of agents.
It goes without saying, the Internet has had a tremendous impact on the real estate industry. Take a look at your current internet marketing strategies and compare those to what your top competitor is doing. The truth is that Internet consumers are plowing into real estate portal sites looking for your listings. You just need to have a proactive Internet marketing strategy.
About the Author: Melani Broman is Online Marketing Manager at Z57 Internet Solutions, a real estate Internet marketing company based in San Diego, California. Founded in 1998 the company employs over 200 individuals and specializes in complete eMarketing campaign management, website creation and lead generation. Discover 17 reasons why most real estate websites fail AND find out what others are doing to make their websites lead generating machines here. To reach Melani, please email melani@z57.com
Subscribe to:
Posts (Atom)