Spring Forward into Real Estate
Spring Forward into Real Estate – by Dana Sparks
As Daylight Saving Time begins on March 9, 2014, it is time to “Spring Forward” into your real estate business for the year! If you have not noticed, we are definitely on an upswing in the real estate market. With low inventory and money easy to borrow, as an agent you should consider focusing on increasing your listing inventory! With more houses on the market to sell, you will help the local economy and your personal economy! There are numerous ways to achieve this goal… it begins with finding people who wish to move and convincing them that you are the best person to help them with this goal… in other words, it all starts with a conversation! So how many of these “conversations are you having?”
First you need to find the people who wish to move. As a real estate agent there are two methods of finding sellers and buyers: 1) have these people come to you, or 2) you go seek out these people. The first method is also referred to as “Direct Response Marketing” and the latter is often referred to as “Prospecting.” Whichever method you choose (or if you pursue of combination of both methods) it’s time to ramp up your efforts and have more conversations!
Direct Response Marketing
Direct response marketing is designed to prompt the consumer to take action to respond to the action you have asked of them (i.e. contact you regarding real estate.) A direct response ad is very common in real estate. You are encouraged to use some “call to action” in your marketing to compel the consumer to contact you. You may use Direct Response Marketing in any and all of the methods you use to reach out to people in your business: sending post cards, internet advertising, your blog, your YouTube channel, your VisualTour piece, your email drip campaign, your pay-per-click ads, your Facebook & Twitter posts, etc. This method is extremely effective the more you narrow your niche audience.
Choose your target or niche audience such as luxury distressed sellers, specific neighborhoods, specific zip codes, specific price ranges, specific school districts, owners who have received a Notice of Default on their mortgage, etc. Then send your marketing piece specific to their potential real estate needs. Make your Direct Response Ad easy, specific and set a time limit. For example:
Prospecting is the method by which you go out and find clients rather than waiting on them to respond to you. The main methods of prosepcting include calling Expired Listings, calling FSBO’s, calling Withdrawn listings, knocking on doors, making “Just Listed” and “Just Sold” calls. The key is to ask everyone you know “Whom do you know that is thinking of buying or selling a house?” When they give your their first answer, “No” you simply respond, “Thank you for thinking about it. If you happen to think of anyone, I’d appreciate it if you’d let me know!” Then you’ll get the “Well as a matter of fact…..”
When you do targeted prospecting (i.e. Expireds, FSBOs & WDs) you’ll get a much higher percentage of appointments; afterall, these people have already identified themselves to you as wanting to sell their home! Commit to yourself to prospect 2 hours each day and you will see an increase in your income! Additionally, prospecting costs little to nothing! There are services whom you can pay to send you a list of all the Expired & FSBO listings in your area with the owner’s names and phone numbers or you can simply pull the newly expired listings from the listing service every day.
Don’t know what to say? There are many scripts on the Maximum One Extranet. Here is a sample of what to say to an Expired Listing:
Whichever technique you use to generate business, the trick is to have more conversations specific to helping other buy and sell real estate. Spring forward into action and you will fall into more clients and more income!
March 2, 2014