In the Box Marketing
Aug 20, 2008 Marketing
If you’re looking for a new idea for mailing to your real estate farm or to other prospects, try thinking inside the box instead of outside of the box.
What I mean is try sending them a REAL box, instead of a regular old envelope or postcard like the hundreds of other agents are in your market. Everyone likes recieving packages and will open it - because they want to see what is inside.
It’s up to you what you put inside the box - it could be a short and sweet letter with your business card, or you can use something from out list of promotional ideas.
It doesn’t really matter what you put inside the box - it’s the box itself that will get attention and get people to open what you mail instead of tossing it in the trash with the rest of the junk mail. It doesn’t have to be a big box either, if you are concerned about postage costs - a small jewelry sized box in many cases will be enough.
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Tags: in the box marketing, real estate mailers, real estate promotional ideas
Viral Marketing Campaign For Realtors
Aug 11, 2008 Marketing
Today’s post is all about how to apply viral marketing campaigns to real estate. As the name suggests, a viral marketing campaign is one that spreads quickly and easily - it is “contagious” like a virus that everyone must have it or try it or use it. Usually we think of viral marketing campaigns for things like websites or fad products, but it can also be applied to real estate as well.
Viral marketing campaigns are sometimes called “word of mouth” marketing, as that is the most common way to spread it. It would work in real estate like this: You sell John and Suzy Buyer a home. John and Suzy Buyer loved the service you provided, so they tell 5 of their friends about you, each who gives you a call. These friends, also impressed by your services then go tell 5 of their friends…Pretty soon everybody knows you’re the agent to call.
In theory, it sounds pretty easy, but if you’re not getting referral leads from your past clients, chances are you are in need of a viral marketing campaign overhaul.
What are some ways you can implement a viral marketing campaign?
1. Provide exceptional service: Finding good customer service is not easy. There are thousands of agents who don’t return phone calls, ignore small details, and don’t really listen to their clients’ needs. By providing exceptional service, people will naturally be impressed and share with the people they know how great it was to work with you.
2. Join Social Networks: There are hundreds of social networking sites that can help you with your viral marketing campaign. Facebook, MySpace, Classmates, and others are just a few to get started with.
3. Give something away: People love freebies. By giving away free things or discounts, you can quickly spread recognition as people share what they’ve gotten for free.
4. Create your own buzz: In order for a viral marketing campaign to work, there needs to be some “buzz” or a reason people would talk about you or refer you to their friends and family. Actively participate in community events, create a blog that lets you build a community with commentators, and make sure you’re a part of anything deemed newsworthy.
A viral marketing campaign can be very lucrative in helping you get past clients to refer you and get others in your area talking about you and familiar with your services. Can you think of any other ways you can implement a viral marketing campaign into your real estate business plan?
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Tags: viral marketing campaign
Things to Consider Before Buying Real Estate Leads
Aug 7, 2008 Marketing
There are hundreds, if not thousands, of websites offering to sell real estate leads. Most of these real estate lead sites will charge anywhere from a few dollars per lead to 30% of your sales commission. Other real estate leads may be free, but you have to pay for the site’s membership.
Buying real estate leads has a few advantages, as well as a few disadvantages.
Here are a few things to consider before you buy real estate leads:
1. Your budget: Since real estate leads can be expensive, it helps to know ahead of time what your budget is. This will help you decide which sites to purchase real estate leads from.
2. Your ability to convert calls to clients: Not everyone is good at converting a phone call into an appointment with someone. When someone hands you a real estate lead, you better be able to get that person in front of you with an appointment, otherwise you just paid for nothing.
3. Would it be more affordable to create your own real estate leads generating website? For $5 a month and $6.99 for a domain name, you can host your own real estate website. I use 1and1.com , which is probably the cheapest you are going to find for reliability. $5 a month isn’t a lot - so if you can compete to get in the top searches on google for homes for sale in your area, it could be a less exensive, more effective way of real estate leads generation.
What’s your opinion on real estate leads? Have you had success with them or were they a nightmare? Share your real estate leads pros and cons in the comments below.
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Tags: real estate leads
Tips for Selling Commercial Real Estate
Jul 28, 2008 Marketing
Selling Commercial Real Estate is no easy task for the inexperienced. You can’t get experience without doing it however, so if you’ve always been interested in the commercial market, here are some tips for selling commercial real estate:
1. Get the Training: There are a lot of things about commercial real estate you probably didn’t learn in your real estate licensing classes. Check with your board and your broker to see if there are any classes you can take you learn more about the commercial real estate market.
2. Consider Partnering With Someone: Many experienced agents will be welcome to share a listing with you to help you gain some experience in commercial real estate. If you have a commercial real estate lead, instead of referring it out or trying to do it yourself alone for the first time, why not see if another experienced agent would want to co-list it with you?
3. Remember it Can Take Longer: Commercial Listings generally take a little longer to sell than residential listings. Be prepared that your commercial listing might sit on the market for months no matter what you do.
4. Look at New Marketing Avenues: With commercial listings, you’ll have a much different target market for selling the listing. Make sure you belong to commercial search directories such as CoStar, since many do not use the MLS for commercial listings. You will also want to target developers, investors, as well as the real estate and acquisition departments of both local and national companies. Networking with other businesses can also be beneficial when selling commercial real estate.
5. Be On Top of Zoning: Now is a good time to meet the zoning officer and talk about the commercial uses of the property. It will vary for every property, so it’s important to know what is allowed and what isn’t to make sure you stay out of trouble as an agent and protect your clients’ interests.
Have any other tips for selling commercial real estate? Feel free to leave them in the comments below.
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10 Cold Calling Tips
Jul 23, 2008 Marketing
Most agents and sales professionals dread the thought of cold calling, which is known to most as picking up the phone and trying to desperately solicit some business. Many swear that could calling doesn’t work or that it’s an ineffective use of time and effort. While I think that technology and networking might be more beneficial than cold calling, it is still possible to generate quite a lot of business from it if done right.
To help you become better at cold calling and to make use of the telephone as a source of business, here are some cold calling tips:
1. Try Warm Calling: Warm calling is calling people you already know - past clients, people you’ve networked with, your neighbors, your relatives, open house visitors, etc. It’s much easier to talk to people you already know or have met. You also don’t have to worry about getting in trouble for the Do Not Call List. If you’ve exhausted this list, you may even want to consider sending your prospects a brief note, market update, or brochure and then call with a follow-up call.
2. Offer Something: If you call and just ask them “would you like to sell your house?” then chances are they’re just going to say no. But what if you offered them something instead? Offer them a gift card for a free market analysis or a discount book you’ve put together. Maybe for a limited time you’re offering a $1000 commission discount, would they or anyone they know be interested? (Make sure you check with your broker first!) Be creative, it doesn’t necessarily need to be expensive to get them interested in your free offer.
3. Lose the Script: Sure, it’s good to have something prepared to say, and maybe even rehearse it before. But scripts make you sound like a robot. You might as well have an automated calling service with a recorded message if you are going to use scripts for cold calling. Believe it or not, people have heard all the scripts. And they’re not too appreciative of them.
4. Ask Open Ended Questions: Open ended questions help make cold calling more successful. Instead of asking, “Do you know anybody who wants to buy or sell a house?” try asking “Who do you know?” or “How much would your home need to be worth for you to consider selling it?”
5. Watch your timing: Certain times of the day may be better than others for cold calling, depending on your market. You may want to try calling in the morning or late afternoon or even the evenings, but be careful not to be interrupting people’s dinners - they will be irritated.
6. Go Face to Face: If possible, it’s better to see your prospects face to face than simply over the telephone. You can try door knocking (make sure you check to see if you need a permit!) or visiting area businesses that may be a good source of networking and referrals. Seeing someone face to face will often give them a longer lasting impression.
7. Be Energetic and Positive: Not everyone is naturally good at cold calling, and many people are downright terrified at it. Try to stay upbeat and force yourself to smile while you’re on the telephone. The people you call will be able to sense your positive energy and more receptive of whatever it is you’re offering.
8. Aim for an appointment: You’re obviously not going to sell a house over the phone. Remember the goal is to get an appointment. Most suggest asking things like “Is Tuesday afternoon or morning better?” then asking the generic “When would be good for you?”
9. Ask for Email: Cold Calling can be a great way to beef up your email list. Most people if you’ve talked to them for awhile, will not hesitate to give you their email address, since this is the least invasive form of communication.
10. Track Your Results: Keeping track of who you call, what you called about, what you talked about, their general news (Suzy turned 10 last month), the date and time you called, it will help you see what progress you’ve made through calling and help you stay on track for following up.
What are your thoughts on cold calling? Have any cold calling tips you’d like to share? Feel free to leave it in the comments below.
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Tags: Cold calling tips
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