I was just reading Z57's Marketing Insider post on How To Lose A Real Estate Website Visitor in 10 Easy Ways and it got me thinking about the elements of good website design, especially from a marketing point of view. This is a subject that I am constantly discussing with my clients, as there are some pretty horrible Real Estate websites out there.
I have previously written and posted articles (my own and from other marketing sites) about having an effective website, but here are some more things to think about as you work on improving your Real Estate site...
How to Drive Traffic Away From Your Website...
1. Give Web-visitors Too Many Options and Choices
Studies have concluded that the more choice that you give people, the less likely they are to make a decision. Some choice is good, but too much choice creates confusion.
A well designed website explains, directs, guides, and focuses visitor attention on the things that are of real benefit to your visitors and to your company.
Every business provides a variety of products, services, and information to their customers, but these things are not all of equal importance. Your website is a place to focus attention on your core marketing message, not a place to provide a shopping list of everything you are able to do and every product or service you may be able to offer.
2. Give Web Visitors Too Much Information & Text To Process
Good website design is about more than technology and aesthetics; it's about deciding what information needs to be presented and what information needs to be left out. If you are truly an expert in your field, you should know what information is important to your customers in order for them to make a decision. Too much information or text that is too wordy, is like too much choice--it confuses rather than clarifies. Focus on delivering meaningful content in an easy-to-scan format, or risk having your visitors hit the exit button.
3. Give Web Visitors Too Much Non-relevant Content
The only thing worse than overloading your website with more information than visitors can absorb is confusing them with useless and non-relevant content.
Non-relevant content is content that doesn't advance your major purpose: to deliver your marketing message in an informative, engaging, entertaining, and memorable manner. If it isn't relevant, dump it.
4. Give Web Visitors Too Many Irritating Distractions:
You cannot sell someone a product or service they do not want. A real prospect is one that needs the same information you want to provide; the art of sales is directing potential clients to relevant information, and presenting it in a way that visitors see your product or service as fulfilling their needs.
5. Give Web Visitors Too Many Red Flags
Website visitors are constantly looking for red flags that tell them that the site they are visiting should be skipped as soon as possible.
If you want to make sure visitors WON'T deal with you, make sure you don't provide any contact information. Not providing contact names, phone numbers, or a mailing address is a sure sign that you won't look after any problems that arise from a transaction.
Your website must be designed to build trust and foster a relationship, not scare people away.
6. Give Web Visitors Incomprehensible Page Layouts & Make Your Pages Stretch Into Infinity
Good design, proper page layout, easy and consistent navigation, and well organized information, helps visitors find what they're looking for and provides a pleasant, efficient and rewarding experience for the website visitor.
Website designs that rely on technology and gimmicks, rather than focused content, coherent organization, and articulate presentation, are designs designed to chase traffic away.
7. Drop the third-party ads.
On the surface, third-party advertisements and banners may seem like a good way to make some extra cash from your traffic, but these ads become so distracting, visitors either get fed-up or click on one of the links that takes them away from your site. Whatever few bucks you earn from these ads, you are loosing by chasing real customers away.
8. Give Web Visitors Too Many Reason To Click-out
If you really are determined to fail, make sure you provide website visitors with as many reasons as possible to leave your site: irrelevant links to your favorite sites, links to your broker because you're too cheap to put IDX on your own site, or any combination of the reasons mentioned above, all contribute to driving traffic away from your site.
Based on Jerry Bader's article 11 Ways To Drive Traffic Away From Your Website
Thursday, May 03, 2007
Monday, April 30, 2007
Differentiating Yourself in a Crowded Marketplace
Are you communicating to all of your clients and prospects with a one-size-fits all methodology? If so, you may end up losing out on business due to an inability to capture the individual needs of your clients.
I have preached the value of niche marketing to my real estate clients for years, as a way of differentiating themselves in the crowded real estate marketplace, and yet still too many Realtors end up marketing themselves and their services as if all real estate prospects have the same needs and wants.
Differentiation is key.
Differentiation of yourself from other Realtors, that is, by demonstrating your understanding of buyer's/seller's needs and their areas of pain. People buy from people who understand them and that kind of differentiation is rare.
So how do you differentiate yourself? Here are some suggestions:
1. After giving a brief overview of what you do, hold back the rest of your pitch and start asking questions about how they currently handle the issue that your service addresses.
2. With your questions, help them to describe where their source of pain lies. (i.e. what is too costly, what is time-consuming and inefficient, what's not generating results).
3. Reiterate their pain and outline the implications of maintaining status quo.
4. Paint a picture of an ideal world for them that addresses their areas of pain (the world they would have if they used your service).
5. Ask them if they would be interested in learning more about what you have to offer.
Ultimately, a conversation that reflects your understanding of their needs is the differentiation that will capture their attention. It's important to listen to your clients & prospects before you start to sound like everyone else and you lose them.
Based on the article What Makes You Different?
I have preached the value of niche marketing to my real estate clients for years, as a way of differentiating themselves in the crowded real estate marketplace, and yet still too many Realtors end up marketing themselves and their services as if all real estate prospects have the same needs and wants.
Differentiation is key.
Differentiation of yourself from other Realtors, that is, by demonstrating your understanding of buyer's/seller's needs and their areas of pain. People buy from people who understand them and that kind of differentiation is rare.So how do you differentiate yourself? Here are some suggestions:
1. After giving a brief overview of what you do, hold back the rest of your pitch and start asking questions about how they currently handle the issue that your service addresses.
2. With your questions, help them to describe where their source of pain lies. (i.e. what is too costly, what is time-consuming and inefficient, what's not generating results).
3. Reiterate their pain and outline the implications of maintaining status quo.
4. Paint a picture of an ideal world for them that addresses their areas of pain (the world they would have if they used your service).
5. Ask them if they would be interested in learning more about what you have to offer.
Ultimately, a conversation that reflects your understanding of their needs is the differentiation that will capture their attention. It's important to listen to your clients & prospects before you start to sound like everyone else and you lose them.
Based on the article What Makes You Different?
Monday, April 23, 2007
Are you likeable?
Being likeable might mean the difference between a lot of business and none. Read below to find out what makes a person likeable, and find out what the 7 components of likeability are...
(excerpted from Broker Agent News)
What makes you likable?
We find a plethora of opinions as to the specific elements that contribute to likeability. Tim Sanders in his book, The Likeability Factor notes these 4:
1. Friendliness: your ability to communicate liking and openness to others
2. Relevance: your capacity to connect with others' interests, wants, and needs
3. Empathy: your ability to recognize, acknowledge, and experience other people's feelings
4. Realness: the integrity that stands behind your likeability and guarantees its authenticity
7 Components of Likeability
Through research and experience, these seven elements are integral for "likability":
1. Positive mental attitude
Likeable people exude a positive mental attitude. That does not mean they are silly or giddy. They don't ignore hardships or failures, but consciously reframe those difficulties and negative emotions to healthier positive ones. Positive means that you can find a better direction out of a problem, rather than wallowing in the problem or negative emotion.
2. Non-judgmental
The truly likable are non-judgmental. They recognize that everyone is trying to get by the best they know how, and they treat everyone with respect and understanding.
3. Open
Passing critical judgment is a sign of inflexibility, a highly unlikable trait. The opposite of that is what we call "openness." The truly likeable are open to new people, other ideas, and different ways of doing things. They demonstrate openness in their behavior, the tone of their voice and in their language.
4. Secure
Likeable people are, "comfortable in their own skin." They don't feel the need to talk over, correct, constantly make jokes or laugh nervously. They don't brag, talk incessantly or hide behind details or humor.
5. Vulnerable
One of the most likeable characteristics is vulnerability. People who can say, "I don't know," who are able to admit mistakes or show a sensitivity, are seen as more likeable.
6. Able to get outside the Self
Those whose primary focus is on themselves rate low on the likeability scale. Conversely, those who are secure in themselves and able to turn their focus outward rate much higher. It's part empathy - our ability to recognize, acknowledge and experience other people's feelings, which is a key attribute of likeability. This is more than the ability to be empathetic. It is the exercise of this ability. It is about becoming relevant. We become relevant in the lives of others when we learn about their interests, wants and needs.
7. Like me
We like people who like us. We also like people who are like us. As humans we are constantly seeking points of similarity. We look for and are attracted to people who are like us in terms of values, interests and experiences. Studies suggest we are also attracted to people who physically look like us.
More Exposure: Familiarity Breeds Likeability
Recent studies have shown that more exposure is sufficient to increase the likeability of a person (or an object). In short, we are more attracted to and tend to like people who are familiar to us. So, in a selling situation, if the prospect likes you a little when you meet the first time, he may like you even more the second time and so on. With that in mind, your objective is to continue to increase the numbers of exposure to your prospects.
(excerpted from Broker Agent News)
What makes you likable?
We find a plethora of opinions as to the specific elements that contribute to likeability. Tim Sanders in his book, The Likeability Factor notes these 4:
1. Friendliness: your ability to communicate liking and openness to others
2. Relevance: your capacity to connect with others' interests, wants, and needs
3. Empathy: your ability to recognize, acknowledge, and experience other people's feelings
4. Realness: the integrity that stands behind your likeability and guarantees its authenticity
7 Components of Likeability
Through research and experience, these seven elements are integral for "likability":
1. Positive mental attitude
Likeable people exude a positive mental attitude. That does not mean they are silly or giddy. They don't ignore hardships or failures, but consciously reframe those difficulties and negative emotions to healthier positive ones. Positive means that you can find a better direction out of a problem, rather than wallowing in the problem or negative emotion.
2. Non-judgmental
The truly likable are non-judgmental. They recognize that everyone is trying to get by the best they know how, and they treat everyone with respect and understanding.
3. Open
Passing critical judgment is a sign of inflexibility, a highly unlikable trait. The opposite of that is what we call "openness." The truly likeable are open to new people, other ideas, and different ways of doing things. They demonstrate openness in their behavior, the tone of their voice and in their language.
4. Secure
Likeable people are, "comfortable in their own skin." They don't feel the need to talk over, correct, constantly make jokes or laugh nervously. They don't brag, talk incessantly or hide behind details or humor.
5. Vulnerable
One of the most likeable characteristics is vulnerability. People who can say, "I don't know," who are able to admit mistakes or show a sensitivity, are seen as more likeable.
6. Able to get outside the Self
Those whose primary focus is on themselves rate low on the likeability scale. Conversely, those who are secure in themselves and able to turn their focus outward rate much higher. It's part empathy - our ability to recognize, acknowledge and experience other people's feelings, which is a key attribute of likeability. This is more than the ability to be empathetic. It is the exercise of this ability. It is about becoming relevant. We become relevant in the lives of others when we learn about their interests, wants and needs.
7. Like me
We like people who like us. We also like people who are like us. As humans we are constantly seeking points of similarity. We look for and are attracted to people who are like us in terms of values, interests and experiences. Studies suggest we are also attracted to people who physically look like us.
More Exposure: Familiarity Breeds Likeability
Recent studies have shown that more exposure is sufficient to increase the likeability of a person (or an object). In short, we are more attracted to and tend to like people who are familiar to us. So, in a selling situation, if the prospect likes you a little when you meet the first time, he may like you even more the second time and so on. With that in mind, your objective is to continue to increase the numbers of exposure to your prospects.
Tuesday, March 27, 2007
Why Aren't You Blogging Yet???
I jumped on the blogging bandwagon last year, and since then I've been hearing nothing but good things about how blogs can help you with your real estate business. That said, I have precious few clients who are actually blogging.
So, in the interest of increasing interest about blogging, here are some reasons why you should be blogging about real estate:
So, in the interest of increasing interest about blogging, here are some reasons why you should be blogging about real estate:
- You'll enhance your branding by giving people a more dynamic way to find out about you and your services.
- You'll increase your search engine positioning for your website.
- You'll give people a reason and a way to interact with you.
- You'll become known as an expert when you use your blog for a specified purpose or to give information to a defined niche.
- You'll learn a lot from the other bloggers who are generously sharing ideas.
- You'll become part of a bigger community of online people who are demonstrating what Web 2.0 is all about.
Monday, March 12, 2007
Marketing 101: 2 Things To Remember If You Want To Be Successful
1. It's not all about you.
I hate to break it to you, but today's consumers don't care about you. All they care about is what's in it for them. In fact, research on web behavior has shown that if you put your picture on your website, you will lose up to 50 percent of your visitors (and the younger the person is, the more likely they are to be turned off by your face).
What does this mean?
2. Sell Benefits, Not Features
When writing your marketing pieces, you must identify the emotional reasons that someone would want to purchase the property, and spell these out--not the features such as bed/bath count, amenties, etc.
Why is it better to offer problem-solving information than a straight sales pitch?
Because nobody who bought a drill wanted a drill. They wanted a hole. A clean hole. An accurate hole.
Therefore, if you sell drills, you should advertise information about making holes, not about drills!
Or take lipstick, for example.
What woman out there buys lipstick because of what it's made of? (If they did, I assure you that there would be a considerable decrease in lipstick sales!) Instead, they are buying it's beauty-enhancing ability, and it's long-lasting, won't-kiss-off staying power.
***NEVER mention a feature without mentioning its benefit to the client.
Features are qualities or characteristics of your product or service.
Benefits are the favorable results that your prospective customers gain by using your product or service.
***Benefit statements are often referred to as selling the “sizzle”, not the steak.***
Keep these tips in mind, and you will see your success soar!!!
I hate to break it to you, but today's consumers don't care about you. All they care about is what's in it for them. In fact, research on web behavior has shown that if you put your picture on your website, you will lose up to 50 percent of your visitors (and the younger the person is, the more likely they are to be turned off by your face).
What does this mean?
- You can still use your picture on your website, but put it on your "about me/us" page.
- Always remember to write your copy (either website text, emails, or marketing materials) to answer the "What's In It For Me?" question. If you can't tell them why they should care, you need to rethink what you are trying to say.
2. Sell Benefits, Not Features
When writing your marketing pieces, you must identify the emotional reasons that someone would want to purchase the property, and spell these out--not the features such as bed/bath count, amenties, etc.
Why is it better to offer problem-solving information than a straight sales pitch?
Because nobody who bought a drill wanted a drill. They wanted a hole. A clean hole. An accurate hole.
Therefore, if you sell drills, you should advertise information about making holes, not about drills!
Or take lipstick, for example.
What woman out there buys lipstick because of what it's made of? (If they did, I assure you that there would be a considerable decrease in lipstick sales!) Instead, they are buying it's beauty-enhancing ability, and it's long-lasting, won't-kiss-off staying power.***NEVER mention a feature without mentioning its benefit to the client.
Features are qualities or characteristics of your product or service.
Benefits are the favorable results that your prospective customers gain by using your product or service.
***Benefit statements are often referred to as selling the “sizzle”, not the steak.***
Keep these tips in mind, and you will see your success soar!!!
Thursday, February 22, 2007
The Internet Buyer/Seller's Clock is Different From Yours
One of the most frequent complaints that I hear from my clients is that the leads from their website never pan out into anything. People fill out their lead capture form, but when they try to call or email them to follow up, they are met with disinterest or silence.
But internet leads are fundimentally different from traditional real estate leads, and unless you start developing a long-term follow-up strategy to handle them, you will lose out on this very important and valuable source of business.
One of the more popular recent statistics claims that only 3% of Internet leads turn into closed deals.
Does this mean that only 3 percent of Internet seller leads sell their house?
Of course not. It's more like 30 or 40 percent…but only if you follow through with your follow-up.
According to realtytimes.com, of more than 1 million leads captured online:
7.3% sold within 3 months
22% sold within 12 months
40% sold within 28 months
Rory Wilfong and Dave Conklin, founders of GetMyHomesValue.com, have this advice:
"Agents just have to remember there's a door to every house and if it's not knocked on, they have no idea if it's a good or bad lead," cautions Wilfong, "You have to shake that person's hand, then be the judge."
"If Rory & I were to become active agents again, we would subscribe to a lead generation service," adds Conklin, "but we wouldn't expect to make any money for six months. The problem is most agents expect to make money next month with the people they meet today. It rarely happens that way. The Internet has made it easier for buyers and sellers to find agents very early in the game, whereas a person used to just come to the real estate office when they were ready to act."
What does this mean for you, as a real estate agent? Persistance is key in making internet leads pay off for you. Internet leads will close, but not necessarily in the timeframe that you are expecting. In order to incubate the lead until they are ready, it is imperative that you have good lead follow-up systems in place.
Drip email campaigns are a MUST!
But internet leads are fundimentally different from traditional real estate leads, and unless you start developing a long-term follow-up strategy to handle them, you will lose out on this very important and valuable source of business.
One of the more popular recent statistics claims that only 3% of Internet leads turn into closed deals.
Does this mean that only 3 percent of Internet seller leads sell their house?
Of course not. It's more like 30 or 40 percent…but only if you follow through with your follow-up.
According to realtytimes.com, of more than 1 million leads captured online:
7.3% sold within 3 months
22% sold within 12 months
40% sold within 28 months
Rory Wilfong and Dave Conklin, founders of GetMyHomesValue.com, have this advice:
"Agents just have to remember there's a door to every house and if it's not knocked on, they have no idea if it's a good or bad lead," cautions Wilfong, "You have to shake that person's hand, then be the judge."
"If Rory & I were to become active agents again, we would subscribe to a lead generation service," adds Conklin, "but we wouldn't expect to make any money for six months. The problem is most agents expect to make money next month with the people they meet today. It rarely happens that way. The Internet has made it easier for buyers and sellers to find agents very early in the game, whereas a person used to just come to the real estate office when they were ready to act."
What does this mean for you, as a real estate agent? Persistance is key in making internet leads pay off for you. Internet leads will close, but not necessarily in the timeframe that you are expecting. In order to incubate the lead until they are ready, it is imperative that you have good lead follow-up systems in place.
Drip email campaigns are a MUST!
Monday, February 19, 2007
Testimonials: Selling Yourself with Authority
5 Tips for Getting And Using Testimonials in Your Business
Tip #1: "How do you get testimonials?"
Well, the answer is easy. It starts with your commitment and willingness to get them. Once you make the decision you're gonna go after them, the rest is almost an afterthought. No kidding.
The first step is to put the "testimonial gathering process" into your business sequence. What does this mean? It means that sending a testimonial request letter should be part of your post-closing checklist...right next to "send a closing gift" and "change the home status in MLS."
The second step is simply to ASK. The trick is when and how to ask.
I personally recommend asking for testimonials immediately after a successful close - especially if it was a difficult close that required a lot of your attention and skill to complete successfully. This is the time when your client's "happy gas" is flowing and they're really excited about buying or selling their home.
Tip #2: How do you ask?
That's simple too. Create a simple one page letter (with a second sheet attached for their testimonial) that explains WHY you want a testimonial. Open your letter with something like:
Dear [client name]...
" In today's world it's difficult to know who's a true professional...who you can trust...and who's most competent to help with your home buying/selling needs. My strategy is not to talk about myself or my company, but to share comments about my service performance from my best clients.
And that's why I'm writing to you today. Would you mind sharing some of your thoughts about your experience in working with me? Your comments will help others who were in your situation to better understand why I am their best choice for real estate services."
Next, you'll want to lead them into how they should write their testimonial - so you get strong comments. Do this by sharing questions with them: How much money did I save you? Did I help make the process easier for you? Was my knowledge helpful? Did I go above and beyond to help you? The more specific they make their testimonial, the better.
Next, you want to include with your request a Pre-Address, PRE-STAMPED envelope so they can simply drop their comments back to you (and by enclosing the pre-stamped envelope, they're not about to throw a good stamp in the trash - so they'll be more motivated to fill it out. Psychology at work, my friend.)
And here's another idea: A lot of smart agents will meet their clients and take a photo of them in front of their new (or now-sold) home. Then they'll ask for a few comments they can use. Now you have a photo, AND a comment - even more power.
Tip #3: Make your testimonials believable.
Don't get a great testimonial and weaken it by putting their first and last initials. It causes skepticism in the reader. Put as much information as you can get away with in your testimonials: first and last name, photo, city, state...some agents even put in their client's phone number. WOW! That's a real, believable testimonial, don't you think?
Tip #4: Accumulate as many testimonials as you possibly can.
You can never have too many testimonials. Also, your testimonials will each demonstrate a different benefit or experience people had with you. So you can sort your testimonial bank by the type of benefit people received from you: Saved time, saved money, arranged special financing, solved a specific problem, revealed how you are different, etc.
Tip #5: When you get 'em, FLAUNT 'em.
Don't be shy with your testimonials. Use them in as many places as you can imagine. Want a few ideas to stimulate your mind? OK, how about...
• Use them in your ads, farming letters, post cards, articles you write, etc.
• Put them on your business cards, stationary, and other visible places.
• Put them on the wall in your office: create a "Wall of Fame."
• Use them in all your sales letters - especially farming letters or newsletters
• Integrate testimonials into your listing presentation - many agents use a "success book" that's a 3-ring book of testimonials they leave with their client after their presentation (if they don't get the listing right there). It'll force you to go back, plus your clients will be amazed at all the positive comments and benefits (proof!) of working with you.
• Use testimonials on your web site. One agent had a great testimonial she used as the headline of her home page! It said (I'm paraphrasing): "You Are the Only Agent I Would Trust for Our Real Estate Needs..."
source: Broker Agent News
Tip #1: "How do you get testimonials?"
Well, the answer is easy. It starts with your commitment and willingness to get them. Once you make the decision you're gonna go after them, the rest is almost an afterthought. No kidding.
The first step is to put the "testimonial gathering process" into your business sequence. What does this mean? It means that sending a testimonial request letter should be part of your post-closing checklist...right next to "send a closing gift" and "change the home status in MLS."
The second step is simply to ASK. The trick is when and how to ask.
I personally recommend asking for testimonials immediately after a successful close - especially if it was a difficult close that required a lot of your attention and skill to complete successfully. This is the time when your client's "happy gas" is flowing and they're really excited about buying or selling their home.
Tip #2: How do you ask?
That's simple too. Create a simple one page letter (with a second sheet attached for their testimonial) that explains WHY you want a testimonial. Open your letter with something like:
Dear [client name]...
" In today's world it's difficult to know who's a true professional...who you can trust...and who's most competent to help with your home buying/selling needs. My strategy is not to talk about myself or my company, but to share comments about my service performance from my best clients.
And that's why I'm writing to you today. Would you mind sharing some of your thoughts about your experience in working with me? Your comments will help others who were in your situation to better understand why I am their best choice for real estate services."
Next, you'll want to lead them into how they should write their testimonial - so you get strong comments. Do this by sharing questions with them: How much money did I save you? Did I help make the process easier for you? Was my knowledge helpful? Did I go above and beyond to help you? The more specific they make their testimonial, the better.
Next, you want to include with your request a Pre-Address, PRE-STAMPED envelope so they can simply drop their comments back to you (and by enclosing the pre-stamped envelope, they're not about to throw a good stamp in the trash - so they'll be more motivated to fill it out. Psychology at work, my friend.)
And here's another idea: A lot of smart agents will meet their clients and take a photo of them in front of their new (or now-sold) home. Then they'll ask for a few comments they can use. Now you have a photo, AND a comment - even more power.
Tip #3: Make your testimonials believable.
Don't get a great testimonial and weaken it by putting their first and last initials. It causes skepticism in the reader. Put as much information as you can get away with in your testimonials: first and last name, photo, city, state...some agents even put in their client's phone number. WOW! That's a real, believable testimonial, don't you think?
Tip #4: Accumulate as many testimonials as you possibly can.
You can never have too many testimonials. Also, your testimonials will each demonstrate a different benefit or experience people had with you. So you can sort your testimonial bank by the type of benefit people received from you: Saved time, saved money, arranged special financing, solved a specific problem, revealed how you are different, etc.
Tip #5: When you get 'em, FLAUNT 'em.
Don't be shy with your testimonials. Use them in as many places as you can imagine. Want a few ideas to stimulate your mind? OK, how about...
• Use them in your ads, farming letters, post cards, articles you write, etc.
• Put them on your business cards, stationary, and other visible places.
• Put them on the wall in your office: create a "Wall of Fame."
• Use them in all your sales letters - especially farming letters or newsletters
• Integrate testimonials into your listing presentation - many agents use a "success book" that's a 3-ring book of testimonials they leave with their client after their presentation (if they don't get the listing right there). It'll force you to go back, plus your clients will be amazed at all the positive comments and benefits (proof!) of working with you.
• Use testimonials on your web site. One agent had a great testimonial she used as the headline of her home page! It said (I'm paraphrasing): "You Are the Only Agent I Would Trust for Our Real Estate Needs..."
source: Broker Agent News
Friday, February 09, 2007
Internet vs. Traditional Home Buyers
Have you made the move to embrace the internet as a means of conducting your business, or are you still working entirely in the offline world? Here are some statistics that should give you pause:
From a recent study of the 2006 California Real Estate market by Leslie Appleton-Young, chief economist and vice president of the California Association of Realtors® (CAR®):
- 92% of Internet buyers found their agent on a Web site; 63% found them through an Internet search engine; 0% of Internet buyers found their agent through brochures, flyers, yard signs or mailers to their home
- In 2000, 28% of people said that they used the Internet as an important part of their home-buying and selection process. In 2006, 70% said they did
- 86% of home buyers started using the Internet as part of their process before they started looking for a specific home; the other 14% did after they started looking, but before they contacted a real estate agent; that means that 100% of buyers surveyed started looking at homes first, agents second.
- fully 81% of Internet buyers stay with the first real estate agent they choose to contact
- Internet buyers spent an average of 4.8 weeks doing research before contacting an agent; traditional buyers only 1.7 weeks. That means an Internet buyer is better prepared and twice as less likely to waste your time
- Internet buyers bought a home on average after spending 2.2 weeks looking for a home with an agent; traditional buyers spent an average of 7.1 weeks
- Internet buyers previewed an average of 6.7 homes with their agent (they had already eliminated ones they did not wish to see), traditional buyers previewed 15.4 homes; an average of just under nine fewer wasted showings per customer
- Number of agents an Internet buyer interviewed, on the median: 1; Traditional buyers? 3.
- 69% of Internet buyers said response time was extremely important.83% of those buyers chose email as their favored communication method with their agent. 0% chose "in person."
- An incredible 97% of Internet buyers said they would use the same agent again. Traditional buyers? 50%.
So what does this mean for you? Adapt or die. As more and more buyers go entirely online to find their next home, there will be fewer and fewer traditional buyers out there. Now is the time to shift offline marketing dollars (brochures, newspaper ads, etc) online, so that the internet starts making money for YOU.
No matter where you are, these data and trends are coming at you. You must get on board or you will be literally run over and left behind.
From a recent study of the 2006 California Real Estate market by Leslie Appleton-Young, chief economist and vice president of the California Association of Realtors® (CAR®):
- 92% of Internet buyers found their agent on a Web site; 63% found them through an Internet search engine; 0% of Internet buyers found their agent through brochures, flyers, yard signs or mailers to their home
- In 2000, 28% of people said that they used the Internet as an important part of their home-buying and selection process. In 2006, 70% said they did
- 86% of home buyers started using the Internet as part of their process before they started looking for a specific home; the other 14% did after they started looking, but before they contacted a real estate agent; that means that 100% of buyers surveyed started looking at homes first, agents second.
- fully 81% of Internet buyers stay with the first real estate agent they choose to contact
- Internet buyers spent an average of 4.8 weeks doing research before contacting an agent; traditional buyers only 1.7 weeks. That means an Internet buyer is better prepared and twice as less likely to waste your time
- Internet buyers bought a home on average after spending 2.2 weeks looking for a home with an agent; traditional buyers spent an average of 7.1 weeks
- Internet buyers previewed an average of 6.7 homes with their agent (they had already eliminated ones they did not wish to see), traditional buyers previewed 15.4 homes; an average of just under nine fewer wasted showings per customer
- Number of agents an Internet buyer interviewed, on the median: 1; Traditional buyers? 3.
- 69% of Internet buyers said response time was extremely important.83% of those buyers chose email as their favored communication method with their agent. 0% chose "in person."
- An incredible 97% of Internet buyers said they would use the same agent again. Traditional buyers? 50%.
So what does this mean for you? Adapt or die. As more and more buyers go entirely online to find their next home, there will be fewer and fewer traditional buyers out there. Now is the time to shift offline marketing dollars (brochures, newspaper ads, etc) online, so that the internet starts making money for YOU.
No matter where you are, these data and trends are coming at you. You must get on board or you will be literally run over and left behind.
Monday, February 05, 2007
Content Ideas: Guerrila Marketing For Blogs and Websites
According to Wikipedia, Guerrilla marketing is an unconventional way of performing promotional activities on a very low budget. Such promotions are sometimes designed so that the target audience is left unaware they have been marketed to and may therefore be a form of undercover marketing (also called stealth marketing).
The best Guerrilla Blog Methods for Real Estate:
1. Hold a contest to incite people participate. Sellsius recommends a home holiday decorating contest or look at Teresa's pumpkin contest. Or check out this SEO contest. I've also seen Realtors take pictures of various buildings in town and ask people the exact address for the contest.
2. Create a blog war to emotionally engage readers
3. Offer a day where you answer 5 reader questions as your blog post. This will incite readers to contact you directly to submit their questions.
4. Hold a weekly local trvia game in a post where you ask a piece of local trivia and see who gets the answer. It helps people participate and you learn some crazy facts in the process.
5. Hold a town tour of scary places with stories or important places with the historical value through either a vidcast or pictures. Do it once per week on the same day and you will be suprised how people respond. It will help you connect with the local community which is exactly what you want to do!
Friday, February 02, 2007
Are you chasing leads to exhaustion?
Are you spendinging all your time and effort always chasing new business? If so, you're wasting time and money.
Consider the following:
1. Repeat business costs about 60% less than generating new business.
2. Volumes of research shows how staying in touch is the best way to generate referrals.
3. Each transaction has the real potential of being the source of six more transactions when the agent diligently nurtures that initial relationship
4. Having a large database of past clients demonstrates to potential new clients your history of success, provides extensive testimonials and generates proof of ongoing business, which positions an agent to sell that book of business when he or she is ready to retire.
Check out this article from Realtor.org on the 5 Groups That You Should Be Contacting Monthly
Don’t underestimate the power of consistent communication. By contacting these five groups once a month, you’ll achieve a steady stream of referrals.
Consider the following:
1. Repeat business costs about 60% less than generating new business.
2. Volumes of research shows how staying in touch is the best way to generate referrals.
3. Each transaction has the real potential of being the source of six more transactions when the agent diligently nurtures that initial relationship
4. Having a large database of past clients demonstrates to potential new clients your history of success, provides extensive testimonials and generates proof of ongoing business, which positions an agent to sell that book of business when he or she is ready to retire.
Check out this article from Realtor.org on the 5 Groups That You Should Be Contacting Monthly
Don’t underestimate the power of consistent communication. By contacting these five groups once a month, you’ll achieve a steady stream of referrals.
Thursday, October 19, 2006
Writing Good Ads to Get the Phone Ringing
What is the difference between an agent who makes money from their marketing and one who doesn't? Ad copy!!!
In our advertising-saturated world, if you're not writing unique, clever ads that stand out, your marketing dollars are going to waste, as most consumers will "tune out" 95% of the marketing around them. (Think about your own habits. How many commericals do you actually watch?)
The tips below are a good starting point for writing any ad. - Kim
The basis of Adwriting 101 is tied to the acronym AIDA. Remembering these four elements of a good ad will make you more money.
- A ttention: How does your ad grab their attention? Write a great headline. Do something different or unusual with your layout or photo
- I nterest: Give them the information they are looking for and make them think this is the house for them.
- D esire: Stimulate their desire with the benefits and emotional reasons.
- A ction: Tell them what to do next. This will come naturally if you've done a good job at the first 3, but make it easy for them to reach you or use a 1-800 response line.
Top 10 Tips to get that phone ringing:
10. Always include the price & location. As a buyer reads ads, they are trying to eliminate the ones that don't fit. When there is plenty of inventory, they will not even call if the price isn't there. To increase your effectiveness, do your homework and know the alternative homes that would fit their needs.
9. Link to Online Pictures Consumers love multiple pictures. Include a link to additional photos on your website. By sending them to your website for additional information, you will capture more prospects. Over 80% of buyers are searching online as well.
8. Offer A Virtual Open House If the media you are using has an open house section, advertise a link to your virtual tour of the house. Do this in your weekend newspaper instead of holding a real open house!
7. Turn The Features into Benefits Don't just list the features. Tell them why they will love the location, the cozy fireplace, the gourmet kitchen. A large yard can offer a place to relax with plenty of room for pets and kids.
6. Play To The Emotions People buy houses based on emotional reasons. They are trying to either to avoid pain (be it emotional, physical, or spiritual) or to gain pleasure (be it real or anticipatory). Ask a question or make a statement to involve their emotions.
5. Include Financing Get from your lender details of several loan options and advertise using the terms in the ad. . A headline of "Can you Afford $1000 per month?" will attract renters that don't realize that they actually could afford to buy. Take care if you add financing terms to be in compliance with Regulation Z.
4. Target Your Market Is this a golf course property? A gated community? A first time buyer home? Write your ad to appeal to the most likely buyer. Give them the benefits! An ad for an investor would focus on bottom line numbers. An ad for retirees would feature benefits of the 55+ community.
3. Write to Their Type Is your most likely potential buyer a Baby Boomer? A retiree? A young professional? An environmentalist? What are their values and concerns? The words and style you use to appeal to each different type of buyer matter.
2. Use Creative Words Bring the adjectives back! Bring alive the activities their family will enjoy. Paint a picture for them of those rooms so they can see themselves cooking gourmet meals in the spacious kitchen! Get your thesaurus out and make your descriptions outstanding and inviting.
1. Call To Action Give them a reason to call. "Won't last long at this price!" "Call today before it is gone."
Monday, October 16, 2006
Advertising Online & Achieving Success on the Internet
Below is an excerpt from an article that I found on Broker Agent News. It highlights the 3 basic things that you should be doing if you have a website. If you aren't, and you need help with any of these, please give me a call (or email me) and I can help! -Kim
Today, 54% of people choose the Internet over the newspaper to look for a home. For that reason alone, if you are not dividing your advertising dollars with at least a nod to this reality, you are throwing good money away.
As an individual agent or brokerage, what can you do to be on the Internet and achieve success? Here are three simple strategies.
- Register a consumer appealing domain name . Most broker or agent domain names contain some portion of your name. For example, www.BettySue.com (Note: the domain names used in this article are used only as examples and may or may not point to an existing website). This domain could potentially scare away potential clients who are not ready to be called by an agent. Register at least one consumer related domain name to use in your advertising efforts. For example, www.BuySanDiegoCondos.com or www.FreeRealEsateInfo.com. These domains placed in advertising are much more compelling for clients to click on or to visit. It's about them and not you.
- Make your website all about the client – NOT you! Time and time again we se brokers and agents plastering "I'm #1" all over their websites. They believe that saying that they are the best means people will want to work with them. What's wrong with this? Most online visitors are looking for information to benefit themselves, not to red a full page resume about the agent. Make sure your websites message is geared toward the prospect or client. Content should read "Find out what your home is worth" or "Find your dream home at a price you can afford." Make this text link to interior pages of your website where they can perform these tasks.
- Gain traffic to your website. If you're like most other Realtors, you aren't having enough success with your website because no one can find you on the Internet if they don't already know your name. Work with an expert who can make it so people looking for homes in your neighborhood come to you when they describe what they are looking for. For example, if you are trying to capture relocation business to your area, optimize your website to be found in search engines for local searches like "San Diego County Relocation."
Now you are asking yourself, how will this all pay off?
- NAR confirms that 77% of home buyers begin their home search online
- The wealthiest Americans are the largest group of online users.
- The majority of homebuyers consider online detailed property information to be extremely valuable in their search for a home.
The importance of Internet presence is already greater than newspaper presence for real estate professionals, and it will continue to climb. Start now and be solidly established and you'll be happy you did. For the last incentive to start now, consider this: next year at this time, most of your competitors will be that much further ahead of you if you don't get started with an Internet Marketing strategy.
Monday, October 02, 2006
4 Steps to Drip Email Marketing Success
1. Don't try and email your list of 300 clients and prospects manually. This can be very time consuming and tedious. I still see real estate professionals thinking they can handle this on their own. If this sounds like you, you are wasting precious time.
2. Do subscribe to a drip marketing campaign system. This will automate the process for you. Begin arranging your client and prospect lists into some predefined campaigns. I've seen this range from a first time home buyer campaign that will run for six months, and send up to 2 or 3 emails a month to each contact in that campaign. I've seen systems with predefined client email campaigns with targeted emails on touch points for the audience who already bought a home from you.
3. Split your email list into specific neighborhood or demographic segments. Customize your email content to match this target audience. For example, if there is a hot condo market or neighborhood in your area, send relevant emails to this group. Demonstrate that you're knowledgeable in your market.
4. Track the results. It is very important to understand your email statistics. When you have 110 prospects in one campaign and only 2% of that 110 are opening the email - it's time to reevaluate. Be sure to check if you have valid email addresses and you are sending relevant content to that target group.
2. Do subscribe to a drip marketing campaign system. This will automate the process for you. Begin arranging your client and prospect lists into some predefined campaigns. I've seen this range from a first time home buyer campaign that will run for six months, and send up to 2 or 3 emails a month to each contact in that campaign. I've seen systems with predefined client email campaigns with targeted emails on touch points for the audience who already bought a home from you.
3. Split your email list into specific neighborhood or demographic segments. Customize your email content to match this target audience. For example, if there is a hot condo market or neighborhood in your area, send relevant emails to this group. Demonstrate that you're knowledgeable in your market.
4. Track the results. It is very important to understand your email statistics. When you have 110 prospects in one campaign and only 2% of that 110 are opening the email - it's time to reevaluate. Be sure to check if you have valid email addresses and you are sending relevant content to that target group.
Monday, September 11, 2006
Home Staging Tips to Help You Sell Fast
What is the difference between a home that sells quickly and one that doesn't? Often it's the little things that will make the difference when trying to sell a home...
* Test all door and cabinet knobs. Replace mis-matched or inexpensive hardware for a quick update. Buyers rarely can get beyond a knob that comes off in their hand as they attempt to use a door.
* Take the time to paint walls, trim and ceilings. Keep adjoining rooms in the same color palette which will make your home appear larger and flow better. Clean up spills from messy painters. Hire professionals to paint mullions on windows and staircase spindles.
* Slipcover mismatched furniture in a room that requires visual unification.
* Discover ways to organize day-to-day room needs. Substantial wicker baskets or square stainless steel or brass can organize magazines, remote controls and toys. Books provide a good look, but vary them by laying some down and standing some up.
* Wallpaper is considered fill-in-the-blank decorating . No two people have the same taste in this instant decorator wannabe. If it's more than three years old, take it down and paint in a neutral color. And wallpaper boarders are out.
* Simple furniture rearrangement can bring new life to a tired space. Float sofas and coffee tables away from walls for a designer look. Use area rugs to anchor furniture groupings on bare tile and wood floors. Place groupings of candles and clear glass bowls filled with natural potpourri, fresh fruit or glass crystals on side and coffee tables.
* Make sure there is balanced lighting in every room for dusk and evening showings. Dimmers help set the right tone.
* Polish and wax hardwood floors to brighten and blend an old finish.
* Clean every surface until it shimmers and shines. Clean can seal a deal. Don't forget the windows.
* Purchase the best quality carpet pad which can make any new carpeting "cushy", and home buyers love cushy. Stay away from shag styles, buyers know it won't be around long in style cycles.
* Streamline window fashions. Heavy drapes are in the minority. Think "let the light shine in" when placing placing blinds and shades. Light and bright can overcome other issues with home.
* Freshen-up closets with closet organizers to maximize storage space and paint a neutral washable color. Make sure buyers can see the back of all closets and cupboards. Lighting is often overlooked feature in closets, but buyers will always turn on lights when viewing a closet, big or small. Thinning closets, cabinets, basements, attics and garages will also help your storage spaces look larger. If you can't part with items, rent a storage locker to hold items for decision making later.
* Don't forget the basement, dark, dirty and musty basements are a turn-off to buyers. Add extra lighting, paint the floor and vacuum out all the cobwebs. Organize storage areas and take the time to clean the washing machine and dryer. To spruce up the hot water heater and furnace, wipe down with a strong cleaner. Scrub the laundry tub and sweep left-over leaves out of exterior stairs and window wells. Run a dehumidifier to reduce basement moisture.
* Take a good look from the street or road at the front of your home. Look for shrubs that are over grown or dead and remove and replace with shrubs that are to scale to your home. Small inexpensive bushes send the wrong message.
* Limit yard ornaments to a favored few. Excess ornaments can make yards look busy and buyers might want them included in a purchase contract.
* Paint and refresh yard lights, flagpoles, mailboxes, window boxes, fences and trellis. Don't forget the swing set or play equipment.
* Replace broken bricks on terraces, cracked concrete patios and steps. Eliminate trips and falls on property showings.
* Restore screens on porches and lanai's. Dirty, rusty and ripped screens limit functionality to homebuyers.
* Don't l eave pets unattended for property showings especially when you know they can be aggressive or territorial around strangers.
* Have carpets and area rugs cleaned before showing your home to potential buyers. Those allergic to animal dander and hair, even if they can't see your pet will know when their eyes and nose start to alert them to an allergic reaction. Many will not purchase a home that poses strong allergy problems.
* Pick up dog droppings in the yard. Buyers out to take a look at the roof don't want any "take away".
* A barking dog or overly friendly cats can kill a showing. Be pro-active and take your pets off site for showings. Hire a dog walker to occupy pets if you can't be home.
source: Broker Agent News
* Test all door and cabinet knobs. Replace mis-matched or inexpensive hardware for a quick update. Buyers rarely can get beyond a knob that comes off in their hand as they attempt to use a door.
* Take the time to paint walls, trim and ceilings. Keep adjoining rooms in the same color palette which will make your home appear larger and flow better. Clean up spills from messy painters. Hire professionals to paint mullions on windows and staircase spindles.
* Slipcover mismatched furniture in a room that requires visual unification.
* Discover ways to organize day-to-day room needs. Substantial wicker baskets or square stainless steel or brass can organize magazines, remote controls and toys. Books provide a good look, but vary them by laying some down and standing some up.
* Wallpaper is considered fill-in-the-blank decorating . No two people have the same taste in this instant decorator wannabe. If it's more than three years old, take it down and paint in a neutral color. And wallpaper boarders are out.
* Simple furniture rearrangement can bring new life to a tired space. Float sofas and coffee tables away from walls for a designer look. Use area rugs to anchor furniture groupings on bare tile and wood floors. Place groupings of candles and clear glass bowls filled with natural potpourri, fresh fruit or glass crystals on side and coffee tables.
* Make sure there is balanced lighting in every room for dusk and evening showings. Dimmers help set the right tone.
* Polish and wax hardwood floors to brighten and blend an old finish.
* Clean every surface until it shimmers and shines. Clean can seal a deal. Don't forget the windows.
* Purchase the best quality carpet pad which can make any new carpeting "cushy", and home buyers love cushy. Stay away from shag styles, buyers know it won't be around long in style cycles.
* Streamline window fashions. Heavy drapes are in the minority. Think "let the light shine in" when placing placing blinds and shades. Light and bright can overcome other issues with home.
* Freshen-up closets with closet organizers to maximize storage space and paint a neutral washable color. Make sure buyers can see the back of all closets and cupboards. Lighting is often overlooked feature in closets, but buyers will always turn on lights when viewing a closet, big or small. Thinning closets, cabinets, basements, attics and garages will also help your storage spaces look larger. If you can't part with items, rent a storage locker to hold items for decision making later.
* Don't forget the basement, dark, dirty and musty basements are a turn-off to buyers. Add extra lighting, paint the floor and vacuum out all the cobwebs. Organize storage areas and take the time to clean the washing machine and dryer. To spruce up the hot water heater and furnace, wipe down with a strong cleaner. Scrub the laundry tub and sweep left-over leaves out of exterior stairs and window wells. Run a dehumidifier to reduce basement moisture.
* Take a good look from the street or road at the front of your home. Look for shrubs that are over grown or dead and remove and replace with shrubs that are to scale to your home. Small inexpensive bushes send the wrong message.
* Limit yard ornaments to a favored few. Excess ornaments can make yards look busy and buyers might want them included in a purchase contract.
* Paint and refresh yard lights, flagpoles, mailboxes, window boxes, fences and trellis. Don't forget the swing set or play equipment.
* Replace broken bricks on terraces, cracked concrete patios and steps. Eliminate trips and falls on property showings.
* Restore screens on porches and lanai's. Dirty, rusty and ripped screens limit functionality to homebuyers.
* Don't l eave pets unattended for property showings especially when you know they can be aggressive or territorial around strangers.
* Have carpets and area rugs cleaned before showing your home to potential buyers. Those allergic to animal dander and hair, even if they can't see your pet will know when their eyes and nose start to alert them to an allergic reaction. Many will not purchase a home that poses strong allergy problems.
* Pick up dog droppings in the yard. Buyers out to take a look at the roof don't want any "take away".
* A barking dog or overly friendly cats can kill a showing. Be pro-active and take your pets off site for showings. Hire a dog walker to occupy pets if you can't be home.
source: Broker Agent News
Monday, July 31, 2006
Referrals: the best source of leads
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/.
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/.
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
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