7 Deadly Real Estate Prospecting Sins
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A low housing inventory and relatively low interest rates are making now the perfect time to get homeowners on the move. If you're scratching your head and wondering why more clients don't come your way, you may be committing one of the 7 deadly real estate prospecting sins. During this real estate marketing 101 webcast, we'll go over potential crimes you may be committing and strategies to change your behavior and get back on the road to absolution! We'll also divulge: • The tactic that gains new clients more than 66% of the time • A way to take your prospecting on the go • Case studies, best practices and more!
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7 Deadly Real Estate Prospecting Sins
- 1. 1 Get Neighbors On the Move
- 2. 2 • Tyler Steenken • Business Development • Cole Realty Resource • Lora Ullerich • Brand Journalist • Coleinformation.com Session Framework
- 3. Cole Directory • Published in 1947 • “Blue Book” • Crisscross directory Invaluable information for industries: Telemarketing Debt collection Law enforcement Today, web-based lead generation for Realtors Then and Now
- 5. 5 A Changing Role •90% search homes via Internet •87% use real estate agents •55% yard signs •45% open houses
- 6. 12 weeks 10 homes Home Buyer Habits Source: 2012 National Association of REALTORS® Profile of Home Buyers and Sellers
- 7. 12% 66% Listing Realities Source: USPS & 2012 National Association of REALTORS® Profile of Home Buyers and Sellers
- 8. Powerful, easy to use tool Just Listed/Just Sold search Virtually prospect from your desk Approach & offer Questions Session Framework Housing Snapshot
- 9. 9 • Collateral and handout examples • Success stories • Testimonials 1: No Portfolio
- 10. 10 • Collateral and handout examples • Success stories • Testimonials
- 11. 11 •Ask yourself: •Is the message I want to convey immediately obvious? •Does this message resonate with my target market? •Are the benefits or features of my product/service highlighted? •Is my offer something prospects can’t refuse? •Is my call-to-action easy and direct with clear contact information? Copy Tips
- 12. 12 • Lists decay 2% each month • 45 million homeowners move each year • 48 million workers switch jobs each year • Errors in human data entry 2: Outdated List
- 14. 14 • 42% home buyers start home search online • Detailed marketing plan: • Agent and real estate directory and syndication websites and timeframe • Virtual tour • Listing flier, direct mail and marketing collateral pieces • Ad and blog placements • Timely communication 3: No Marketing Plan
- 15. 15 Research
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- 19. 19 • Come prepared with: • Accurate intel on purchase price similar homes are selling in the market • Square footage • Number of bedrooms • All intel Cole Realty Resource arms you with 4: No CMA Knowledge
- 20. 20 5: No Open House
- 21. 21 Virtual Walk-Through Videos should be: •Interesting •Short •How to •Testimonial •National ads
- 22. 22 Try Instragram video: •:15 max •13 filters •Edit capabilities during filming Virtual Walk-Through
- 24. 24 InsideSales.com response audit results: • Average company: • Takes 44 hours for follow-up • 1.5 call back attempts • 55% never called/emailed • Best practice: 6-9 call back attempts 7: No Follow-up Source: Insidesales.com/responseaudit
- 25. Once again, track and measure Track & Measure
- 26. • Pull up the closest neighbors on the street • Provides contact information for direct mail and telemarketing campaigns • Have snapshot of 75 closest neighbors Bird’s Eye View
- 27. 27 • “If your goal is to do 3-4 transactions per year, you don’t have to prospect, you don’t have to be a salesperson and you don’t have to have good skills and techniques. You simply have to be in the right place at the right time a few times a year to do a few deals. However, is that what you really want from this business?” - Mike Ferry Increase Listing Production
- 28. • Customer Service: 1-800-283-2855 Jump Start Your Sales
- 29. 29
Hinweis der Redaktion
- 7 deadly real estate prospecting Sins veterans prospect EVERY DAY in order to achieve success. Cole Realty Resource online provides UNLIMITED PHONE NUMBERS for only $395/year. All the phone numbers you will ever need for: Just Listed, Just Sold, Farming and Expireds. Key household information includes: Owner/Renter, Purchase Amount, Home Value, Length of Residence, Date of Birth and additional Household Members. Be sure to ask for the Mike Ferry discount.
- My Name is Lora Ullerich & I’m happy to be joined with Michael Mitilier, CEO & Author of ruleofthumb biz. Michael Mitilier is the Founder of the Rule of Thumb for Business book series and Author of “Rule of Thumb: A Guide to Small Business Basics”. He has over 25 year of experience in delivering, planning, and implementing training programs. Michael spent 13 years building a training and development company before being diagnosed with lymphoma in 2004. He is a survivor at all levels! That year, his love for life and others took Michael in a different direction and he decided to use his innate talents and lifelong results-oriented attitude to help nonprofits achieve their missions and goals. Michael joined the Nonprofit Association of the Midlands (NAM) as their Director of Member Services. Always looking up and beyond, he founded and led the Small Business Association of the Midlands. Michael is currently the Director of the Small Business Academy for the AIM Institute and a certified Gallup Entrepreneur Acceleration System Guide.
- Welcome to Cole Realty Resource. You've signed on to a powerful tool that allows users to search for qualified leads in your neighborhood. In less than 30 minutes, we'll show you how to use the neighbor search to target your best prospects for mailing or telemarketing. You can find businesses and consumers close to your Just Listed or Just Sold properties to find new customers with unlimited searches and unlimited downloads. Cole Realty Resource also empowers agents to: •Farm a neighborhood using our Google Mapping App •Target prospects by home value, street, length of residence etc. •Find potential first time home buyers by targeting renters We'll also have a brief demonstration and some time for Q & A. At Cole Information, our passion is helping businesses find new customers. During today’s presentation, I’m going to show you the highlights and benefits of the program, how easy Cole Lists is to use to target consumers or businesses. If at any time, you have any questions, please type your question into the console to the right of the presentation & we’ll answer those questions.
- Cole Community features articles, a blog & other content including past webinars we think is interesting & is beneficial to small business owners like yourself. Best of all, it’s FREE! We invite you to take a look around, check out the site & use it as a resource for your needs.
- With technology and sharing of information online, a recent article in Forbes Magazine sheds light on whether real estate agents continue to be relative. http://www.forbes.com/sites/brucekasanoff/2014/04/04/real-estate-brokers-obsolete/ He goes on to say “he only way to avoid becoming obsolete is to reinvent your role before the marketplace does it for you. Said another way, you need to disrupt your own industry.” And it’s true. According the a study the National Association of Realtors conducted in 2012:
- I wanted to provide some Home Buyer Statistics according to the 2012 National Association of Realtors On average, people search for a new home for 12 weeks & see roughly 10 homes.
- I wanted to provide some Home Buyer Statistics according to the 2012 National Association of Realtors On average, people search for a new home for 12 weeks & see roughly 10 homes.
- The housing market across the country has seen a dramatic shift in the last six months—an improving economy and relatively low interest rates are boosting buyer demand. Here’s some new opportunities: Homes are selling for more They’re also selling quicker And the inventory of existing homes is at historically low levels—coupled with the fact that there’s not a lot of new building going on right now. The question becomes
- No portfolio Success stories Outdated marketing list No marketing plan Professional house pics Professional description Sm Dm Telemarketing scripts No knowledge of the neighborhood/comparative market analysis (CMA) Comparative Market Analysis which is a listing of homes currently for sale and recently sold in the area. The CMA (known informally as the "comps") will compare the details of your home with similar homes on the market, and includes specifics like price, square footage and number of bedrooms. This is your starting point for knowing how your home measures up to others that are selling in the neighborhood and, most importantly, at what price you should list your house. An experienced real estate agent will make this part of the process a priority. No open house lead capture no follow up no schedule
- 2nd real estate deadly prospecting sin: lists go bad So say it can be as much as 2% each month. In addition, the USPS says 45 million American’s move each year, that’s roughly 1 in 6 families The us bureau of labor statistics says 48 million people changed jobs in 2011 Plus, error in human data entry account for 25% of data quality issues & the fact that people don’t always tell the truth… CRR lists are updated every 30 days & we encourage customers to download a new list prior to every download.
- You can also build a referral list by finding the neighbors of your best customers by searching neighborhoods via a Google Maps technology or radius search. This is accurate, reliable information that’s easy to use. All you have to know if the customer’s last name, their house number and zip code—and you can clone your best customer.
- The National Association of Realtors says 42 percent of home buyers start searching for homes online: http://www.realtor.org/reports/highlights-from-the-2013-profile-of-home-buyers-and-sellers. In addition, here’s what Keller Williams says your marketing plan should include: http://www.kettlerrealty.com/Listing_Marketing Agent Website Your property will be represented with a great image on a Professional Real Estate Agent Website. Your property will be featured on the website with a property detail page with photo gallery and virtual tour along with all information about the property. Single Property Website A Single Property Website is a separate website that is completely dedicated to the online marketing of your property. It is a full multi-page website that includes a virtual tour and photo gallery of your property along with all the property information including map, schools, Walk Score, and weather. A printable flyer, documents, and mortgage calculator is also available. Virtual Tour A Virtual Tour to showcase your property. Your property's virtual tour can appear on your REALTOR.com® listing and posted on YouTube. Listing Flyer Customized listing flyer designs to promote your property and entice buyers to schedule showings. Craigslist Ads & ActiveRain Blog Professional and attractive Craigslist Ad for your property to generate buyer leads. Property can be posted on ActiveRain, the largest community of Real Estate Professionals, giving exposure to a massive audience of buyer real estate agents. Showing Feedback System State-of-the-Art Showing Feedback System obtains and compiles feedback from your property showings for easy instant analysis. Listing Syndication Your property is syndicated to the most important and popular real estate directory websites. Social Networking Social Networking is the latest marketing trend with the ability to connect and communicate with others in a fast and efficient manner. Your property can be posted on virtually any social networking site including Facebook, Twitter, Google Plus, LinkedIn, and hundreds more! Lead Capturing & Management System Lead Management System to track and maintain communication with prospective buyers. Text Message and Email are sent out immediately for the fastest response time to potential buyers. No portfolio Success stories Outdated marketing list No marketing plan Professional house pics Professional description Sm Dm Telemarketing scripts No knowledge of the neighborhood/comparative market analysis (CMA) Comparative Market Analysis which is a listing of homes currently for sale and recently sold in the area. The CMA (known informally as the "comps") will compare the details of your home with similar homes on the market, and includes specifics like price, square footage and number of bedrooms. This is your starting point for knowing how your home measures up to others that are selling in the neighborhood and, most importantly, at what price you should list your house. An experienced real estate agent will make this part of the process a priority. No open house lead capture no follow up no schedule
- No knowledge of the neighborhood/comparative market analysis (CMA) Comparative Market Analysis which is a listing of homes currently for sale and recently sold in the area. The CMA (known informally as the "comps") will compare the details of your home with similar homes on the market, and includes specifics like price, square footage and number of bedrooms. This is your starting point for knowing how your home measures up to others that are selling in the neighborhood and, most importantly, at what price you should list your house. An experienced real estate agent will make this part of the process a priority.
- Remember our stats? According to NAR, 45 percent of home buyers get information regarding homes from open houses—so if you’re not having home sales & capturing prospective buyers contact information—you’re really doing yourself a disservice. Sales of Omaha-area homes priced over $1 million have bounced back since the housing slowdown, but that doesn't mean real estate agents don't still go the distance to lure in the Daddy Warbucks types. A creative touch is especially helpful, perhaps a must, when it comes to marketing older mansions that today compete with a growing swarm of brand new suburban subdivisions where consumers can build their dream home from scratch. Ask Teresa Elliott, who staged an open house this week at a 1935-era Fairacres home listed for $2.39 million. In addition to catered wine and cheese, she partnered with a luxury auto dealership that brought new Jaguar and BMW models as a sneak peek bonus to those attending the event — an exclusive, invitation-only experience. While Markel Automotive Group typically lines up luxury car shows for charity events, Vice President Tony Caputo said this was the first at an open house. Said Elliott: “It's exposure. It's promotion. It's not just come and see the house — see the cars. It makes it a little more interesting.” Both Markel and Team Elliott of Prudential Ambassador Real Estate invited loyal customers and business associates to 506 N. Elmwood Road. Their thought was that even if attending guests didn't leave with a home contract or a Jag, they would spread the word about the elite home and vehicles to their circles. The target marketing strategy comes as building permits for single-family homes in largely suburban areas of Douglas and Sarpy Counties are up about 32 percent in the first eight months of this year compared with the same period last year. While in an exclusive and popular neighborhood, the gated Fairacres home — with six bedrooms, seven fireplaces, a five-car garage, a saltwater pool and an outdoor kitchen — competes with buildable lots being carved out in newer west Omaha and Sarpy County neighborhoods, Elliott said. The good news for sellers of luxury homes is that sales activity has rebounded in the $1 million and higher category. So far this year, 17 homes in that range have either sold or are in the process, a count that already matches the year-end counts of each of the past two years, according to the Omaha Area Board of Realtors. There were eight closed sales in that price range in 2010. (Realtors say the OABR statistics, which are based on the Multiple Listings Service transactions, don't include every newly constructed home sale.) To be sure, the 48 Omaha area for-sale homes priced at $1 million or more are just a tiny slice (about 1 percent) of all homes on the market today. Realtors say that regardless of the range, appropriate pricing and move-in condition are factors that most quickly push homes into the sold category. Andrea Cavanaugh of NP Dodge Real Estate for years sold only newly constructed residences, so she understands the attraction buyers have to cleanliness, neutral coloring and the overall “wow factor.” “Buyers fall in love with the models,” she said. “It gives them the idea of how they could live and how we all want to live in a clutter-free, organized environment.” Cavanaugh now transfers that wow factor to previously lived-in homes she lists, typically staging them with decorative accessories and mirrors. Decluttering. Taking down personal photos or mementos that can distract. She recalled one Husker fan being turned off by a house decorated in Hawkeye gear. Still, Cavanaugh and others said, a unique open house — much like curb appeal — can help draw in agents and potential buyers. Signage and balloons are among more common lures. But local Realtors have pulled in fellow agents with prize drawings and delicacy foods. And industry publications talk about offering carwashes, pool parties or even a tailgate hot dog handout during football season. Jen Alloway of Omaha's Deeb Realty once brought a live band to go with appetizers and cocktails served around a pool at a high-end home she was selling. Elliott said she's hosted open houses around jewelry parties and business meetings. That way, she doesn't wait only for clients who have seen the home marketed through the traditional Multiple Listings Service or online real estate sites. Chris and Cindy Maher (he's president and CEO of Premier Bank) were among invited guests at the Fairacres open house. “It's good to get out and see these kinds of things to see what the market is,” Chris said. Tracy Clevenger, who came with husband Todd, an executive vice president at Premier Bank, appreciated the peek at the luxury cars without having to listen to a sales pitch. Caputo figured that those who could afford the nearly 7,000-square-foot home, which was expanded in 2005, could afford to buy an elite Jaguar XJL or BMW M6 Coupe, each of which sells for around $100,000. The Land Rover LR4, a little cheaper, is more of a family vehicle. “Demographically, it fit,” Caputo said. “It's also different and fun.”
- For real estate agents, here’s a great way to engage your consumers visually: Great video by real estate Sara Pohlad: http://www.youtube.com/watch?v=xA1bagGqVzU&feature=c4-overview&list=UUGaaBWKhUYtBeAy7UzsK_Og Video is a great way to showcase your product/service. Also think about what you can communicate about your brand in :15. Instragram
- Also think about what you can communicate about your brand in :15. Instragram Facebook has created its own competitor to Twitter’s Vine. Video on Instagram is a new functionality on Instagram that allows users to record clips, apply filters, and share them with friends as they currently do with photos. Where Vine videos are limited to 6 seconds, Instagram videos will max out at 15 seconds. Unlike Vine, videos on Instagram will not loop. “We need to do to video what we did to photos,” co-founder Kevin Systrom said during the announcement. Part of that is applying filters to beautify the videos you take. Thirteen filters created specifically for video, all different from the photo filters, are included with Video on Instagram. You will also be able to edit specific clips of your video while you are in the middle of filming, giving videographers more opportunities to get things ‘just right.’ Another functionality built with video beautification in mind is Cinema. Cinema is a functionality that allows you to stabilize shaky videos for better quality clips. As Systrom said, “this changes everything.” It gives individual users and companies the ability to film stabilized, potentially professional quality visuals without having to invest in fancy equipment. It can be spontaneous, on-the-spot, and still well-composed. Video on Instagram has a few immediate advantages over Vine. First, Instagram already has 130 million users who will immediately get access to this new functionality. They don’t need extra time to build up that audience. Second, many companies already have solid audiences built up on Instagram that they can now offer videos to. This is a far easier scenario than having to attract a brand new audience on Vine. Finally, Video on Instagram is available to Android and iOS users from the get-go, something the former group is sure to appreciate.
- Need to have a schedule in place. Be in the office at a certain time and work until a certain time. Any successful agent w/ tell you until you have a schedule, you won’t accomplish your goals. That means every day—figure out when you’re taking your days off, what time you’re going to be at the office, etc. Yes, you’re the boss, but that doesn’t mean you can’t set parameters, goals & expectations for yourself.
- A couple years ago, Inside sales did a response audit. They filled out online forms from thousands of companies across the country to assess response time & quality & here’s the startling trend. They found more than 30% of leads are never contacted at all. honestly, with just a few more call back attempts, reps will experience 70% more contacts. http://www.insidesales.com/insider/lead-management/lead-response-management-infographic/
- Now let’s talk about an easy solution: Cole Realty Resource allows you to pull up the CLOSEST neighbors through our Aerial View search. Allows you to easily contact the closest 75 neighbors with visual of the home.
- Webcast focus on increasing your listing production based on knowledge that we have gained over the years working with top producers from all across the country MFO survey showing what the top 500 producers in their coaching program revealed is providing leads 1. Center of Influence 2. Just Listed/Sold 3. Expireds 4. FSBO’s
- We’re so glad you’ve chosen Cole Realty Resource to jump start your sales. If you have additional questions or need assistance, our customer service number is …..1-800-283-2855 today. And be sure to check out Colecommunity.com. Where you can learn some great tips through our webinars—both new & recorded, read our blog & articles on colecommunity.com. Are there any questions?