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3 Tips to Find Listings in the Current Market
Well, that was quite a summer real estate market! Huge year-over-year valuation gains, bidding wars and lower than low levels of inventory. At one point, there were even more NAR members than listings! However, things do appear to be cooling off a bit and leveling out in many areas. But that doesn't mean that the inventory shortage (and increased competition) is going to just disappear. It will mostly likely be more of a slow fade. Then again, maybe not. Predicting and timing markets is a tricky business, and hardly an exact science. The point is, finding listings and sellers isn't going to get easier overnight. You need motivation, a plan, data, and market insight. You need to get in front of would-be sellers to earn their trust and pique their interest. Here are three ways to do it with help from RPR. 1. Put RPR data to work for you One of the most important things you can do with potential clients and prospects is build trust and confidence. If someone is apprehensive about selling, the housing market or even the economy as a whole, they need reassurance that they're making the right moves. They want to hear more than opinions; they want charts, graphs, stats and info from expert sources. You can deliver that and much more! With RPR, every REALTOR® is a click or fingertip away from accurate, up-to-date property and market data. The trick is figuring out how to convey this hard data to customers in an easy to digest manner. Here's a couple of examples of how to put RPR data to work for you: Run an RPR Market Activity Report and use those facts and figures to create a social media post (or flyer) to give an update on the area. It could be one street, one neighborhood or one ZIP code. You can even draw the area by hand on a map! Include active, pending and sold information for the last 3-6 months. Or include how much home values have increased in the last calendar year. While many homeowners are aware that their homes have risen in value, not all of them know the exact figure. Providing this type of information can really open their eyes, get them thinking, and position you as the go-to source for local market knowledge. Create an RPR Neighborhood Report and use that data to make a quick video that will create buzz about a particular neighborhood. Just record footage of the neighborhood and use a quick video editor app such as Ripl, then record your voiceover. In 30-60 seconds, you can give important stats on the area's home values and sales activity, the demographics of the population, economical statistics, and quality of life tidbits including parks, commute times and public transportation. And of course, amenities such as restaurants, retail shops, walkability scores and more. Post the video to Instagram or Facebook and alert your sphere that this neighborhood is perfect for their lifestyle. This is a great "soft sell" approach, where you're giving a neighborhood update that isn't 100% about home prices, and can go a long way in connecting you to a community and its residents. Be sure to include a call-to-action line at the end, such as, "I've done a ton more research on (NEIGHBORHOOD NAME) and if you're interested, I can create a report and share it directly with you." Hint: the reports you follow up with can easily be made in RPR! 2. Fine-tune your prospecting Prospecting is the ultimate proactive approach to new business. While some top producers acquire listings strictly through referrals and repeats, most agents need to put in some hustle to find new prospects and leads. And RPR is built to help you succeed at it! Tapping into RPR as a resource in these efforts is a smart approach, as there are many ways to apply its data, reports and maps to a prospecting plan. You can go in-depth with geographical prospecting to find every homeowner in a specific area who's owned their home more than 15 years, then make a mailing labels list (up to 2,000, for free, every month), and send each one a report on their home. Or you can keep it as simple as creating a one-page flyer about their home and drop them off in person or send out a handful of mailers. With RPR as a prospecting tool, you have options. For an in-depth look at everything RPR offers, we encourage you to download our exclusive eBook on prospecting for new clients and leads. Get How to Farm and Prospect for new Clients: an Exclusive RPR eBook and you'll have one of the industry's go-to sources for prospecting. It's filled with tips, step-by-step how-to's, quick video lessons, success stories and more. Keep it on your desktop and add it to your digital library to learn: Prospecting/Farming basics: the who, what and why's of geographic farming Formulas for Turnover and Absorption rates A step-by-step guide on how to set up geo farming areas in RPR How to generate a mailing labels list/CSV file Which RPR reports are best suited for prospecting Agent success stories that you can emulate This guide is the north star when it comes to real estate prospecting. It's a map to success and all you need to do is read it, follow it and put it into action to gain warm leads and new clients. Click the link and download your exclusive copy today. 3. Make a lasting impression with your listing presentation Congrats! If you've made it to the presentation phase, you're now just minutes away from nailing down a new listing and hitting paydirt. This is your time to shine, put your best foot forward, knock their socks off and every other cliche in the book. Your listing presentation is a resume, a capabilities brochure and a first impression all rolled into one. Using the tools and reports within RPR to create your listing presentation is a smart and savvy way to impress your clients and give you a sharp, competitive edge. The first thing you'll want to do is have a pre-discussion with your potential client. During this first step, make sure you do plenty of listening. Ask leading questions that get them talking about why they are selling. Find out all you can about their priorities and goals. Doing this type of homework will help you tailor the presentation around their needs. For sellers, the most important part of working with a REALTOR® is the agent's ability and experience in pricing the home. This is where you and RPR come together to form an unstoppable team. Here are some boiled-down highlights you'll want to consider using: RPR's Realtor Valuation Model® (RVM®): This pricing tool sets the standard for automated real estate valuation models. It goes beyond the traditional AVM by incorporating listing and sales data from the MLS into the equation. The RVM® is also accompanied by a Confidence Score—a value between zero and five stars that indicates the level to which each of the multiple models agrees with other estimated values for a given property. High confidence scores indicate that other models yield similar estimates for the property. Watch this short video for details. RPR's CMA is used to determine a price or price range for a property that is both quantitative—based on comps and market information, as well as qualitative—reflecting your knowledge of the property, neighborhood and market. RPR's wizard walks you through five simple steps to generate a comparative analysis. You'll confirm the home's facts, search for and adjust comps, and land on your own list price by reviewing the analysis. RPR's Refine Value tool: If your seller has home upgrades, consider RPR's Refine Value tool to determine the value of a home based on property characteristics, improvements made and market conditions. Use the simple sliding scales to refine the home's value based on your assessment of local market conditions, the interior and exterior of the home's condition, lot size, view and privacy. Seller's Report: Now bring it all together with the RPR Seller's Report. This custom report can be created quickly, and includes a photo of the property, plus your photo and contact information. Plus, you can add customized pages. Inside, you'll find details on the subject property, local market conditions, side-by-side property comparisons, mortgage and distressed information, tax assessment history, and more. Here's a guide to learning all the details about a RPR Seller's Report. To create a truly compelling listing presentation, you must stand out from all the other agents, provide relevant data and prove your value. You must convince the owners that you're the best REALTOR® to help them realize their home selling goals. Check out this article, "21 Steps to a Stellar Listing Presentation," for a step-by-step plan to winning that listing. Find sellers with RPR As you can see, if you have the will, RPR has the tools to help you gain listings. Use these assets and resources to identify, market yourself and pitch your services. Sellers are out there, and RPR can help you find them! To view the original article, visit the RPR blog.
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97% of Cold Calling is a Waste of Time
Let's warm up those cold tactics with some new insights into increasing your lead generation abilities. A good start is the idea of a hiring a person that is dedicated to making those outbound efforts. Inside Sales Agents, or ISAs, have long been considered a crucial role on successful real estate teams. Hiring an Inside Sales Agent in Real Estate As your business grows, you can quickly begin to feel stretched. You and your team may have difficulties finding time to prospect or responding fast enough to leads, so your pipeline and conversion rates can suffer. Hiring an ISA ensures a dedicated person is generating and converting leads in the office while you and your agents are running the rest of your business. This hire allows you and your team members to focus on your core roles, and they are typically charged with uploading all of the contact information and conversation notes into your database. This frees your team up from most admin tasks, so for example, buyer's agents don't have to worry with anything administrative other than writing up a contract. The ISA role can vary with experience and job expectations. There are countless pay structures and compensation models to match each unique ISA role. However, the first thing you need to do before hiring is calculate the ROI. It doesn't make sense to hire an ISA for cold-calling purposes if you aren't generating more deals (i.e., money). Here's a handy cost breakdown guide for your real estate business: Again, this is just a model. Lots of real estate businesses employ and pay ISAs differently. The main objective of this is to ensure positive revenue from hiring an Inside Sales Agent. Turn Cold Calling into Smart Prospecting Let's flip that terrible stat. Here's how to turn 97% wastefulness into 80% productivity. Taking a good look at your communication strategies can do some real good for your success rate. It's critical to be informed about your leads, their interests, and to hit them with timely and relevant information. Imagine the following message from a real estate agent: Hi, my name is Chad and I'm calling to see if you're interested in buying a house. How likely are you to respond with anything else than, "No, I'm not interested," or with "I'm just looking." Not only are success rates of cold calls low, but they typically cost your business 60% more. Now, let's examine a more tailored approach: Hi Susie! I noticed you were looking at homes in downtown Charleston, and if you have a free moment this week, I can show you a couple houses of interest. What do you say? Two things changed in this scenario. First, the real estate agent is addressing the lead by name. He knows who he is calling. Second, he knows what Susie is looking for. By tailoring your message to the interests and behavior of your leads, you increase your chances of a positive sale. In fact, you're 51% more likely to achieve your sales numbers and 80% more productive. Using a Real Estate CRM for Smart Prospecting It's critical to have information about your leads at your fingertips. This means utilizing powerful software and the latest technology to make your prospecting so much more effective. By compiling a list of who the leads are, what areas/price points they're looking at and their timeline, you immediately have a "warm" list of leads to call. You know where to start the conversation and your sales effectiveness rises. This means you can easily create tailored messages to large groups of leads for smarter outreach. Talk about productivity!  The Power of Texting vs. Calling Just a few years ago, InsideSales.com did a study revealing agents who called newly registered leads within five minutes were more likely to turn them into a closed deal. However, a troubling statistic shows that only 5-10% of people pick up the phone. Even with email, you can only expect a 20% open rate. However, with texting, 90% of people both open and respond to texts within five minutes. That is a serious game-changer! A Multi-Channel Strategy for Prospecting Using multiple forms of outreach in your marketing efforts can generate much more success in prospecting. The right CRM will let you implement plans that incorporate calls, texts, and emails, and every interaction will be automatically logged in the system so you can stay on top of to-dos and know exactly where each leads stands in the process. Here's a sample template for a basic smart prospecting plan: Call within the first five minutes if possible. This is important since you or your customer team could potentially speak with them while they are still on your site and explain further valuable search tools on the website. Answer: Ask the most important question. Doesn't Answer: Leave a voicemail (scroll down for suggestions). If the lead does not answer, you can send a text message (scroll down for suggestions) and continue to call at a steady, but subtle, rate over the next few weeks. If you have an email address, your lead also needs to be on a drip email plan. Touch Phone Call Example Scripts: This situation would occur if a lead registered on your site or a third-party site with at least their name and contact information. This example assumes you have basic information about what they are looking for. Questions: Hi, may I speak with [First Name]? How are you today? I received your contact info from your recent registration on my site, and I wanted to follow up with you quickly in case you had any questions about any of the homes you were browsing through. When are you looking to buy? I can set you up for eAlerts so you are the first to find out about new listings that fit your preferences. Even if you don't want to buy now, it's always good to see what's out there in your price range. Are you still interested in the [area name] around [price point of the home they were looking at]? If so, are you working with an agent already? I actually have an area expert for the neighborhood you are looking in. He/She can fill you in on the market for that area, can they give you a quick call later? Answers: Yes: Sounds good! Is this the best number to reach you? No: Is there a better time for me to reach you? No, don't call: Would you prefer email? I can arrange them so they only come as often as you like with the listings in your price range and area. No, don't contact me: I completely understand. Definitely take advantage of the site's search tools and if you see anything you want more information on in the future, we are here to help! First-touch Voicemail Script: Hi [first name], this is [your name] calling from [your company name]. I wanted to quickly check in and make sure you didn't have any further questions about the properties on our website. If so, I would love to help you get a temp of the area you are looking in. My number is [your number here], and I look forward to speaking with you soon. First-touch Text Script: If you don't receive an answer to the first phone call, it's always a good idea to send a follow-up text. Hey [first name]! Wanted to quickly follow-up with your visit to [your website name here] to see if you would be interested in chatting with our agent who has worked in that area for awhile. When are you looking to buy? Next Steps: Continue conversation with more qualifying questions and attempts to schedule a call. Alternative Tactic: Social Selling Hands down, people spend the majority of their time on social media — whether it be Facebook, Twitter, or Instagram. These channels are windows into who your leads are, what they're interested in, and even what they're complaining about. This gives you an unfiltered view into what they need, and an easy opportunity to place yourself at the front of their consideration. With a quick message or response, you can easily spark a conversation that turns into a $300k home deal. Being Effective at Real Estate Lead Generation Cold calling is a waste of time. Personalized messages are king when it comes to selling. Keep in mind, the homebuyer (or seller) already has a ton of information at their disposal. They don't need to be sold on what they want — they already know what they want! They want to know that you're going to provide personalized service for them. Hence, smart prospecting. To view the original article, visit the BoomTown blog.
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How to Generate Free Real Estate Business from Google
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5 Reasons Leads Are Choosing a Different Agent
Today's red-hot residential real estate market has agents competing for leads more aggressively than ever before. Not only is inventory low and demand high, but right now there are more real estate agents than homes for sale — another unforeseen byproduct of the pandemic, as more people decided to enter the industry to make a living. Simply put, competition is steep. Every interaction, every consultation, and every listing presentation counts if you want to expand your client list this year. Buyers and sellers are carefully scrutinizing the agents they interview to find just the right one. Even a small negative experience that might've been overlooked in the past may be reason enough for someone to pick another agent. Ensure you're the choice agent by avoiding these five missteps. 1. Your response time is too slow There are a number of factors at play here. First, with properties moving quickly in this market, buyers and sellers are looking for an agent who can act fast. To know whether that's you, leads are judging your response time. If a lead submits an inquiry and doesn't hear back from you for 5+ hours, they're going to think it'll always take you hours to respond to them. You can bet they'll start contacting others, and they'll select the agent who responds quickest. A fast, less-than-an-hour response is a high expectation, but it's the expectation nonetheless, and that's because of the world we live in. The speed of digital transactions has made us all accustomed to lightning-fast service. Finally, not all leads will be ready to transaction right away. If you leave them waiting too long, their cold feet could catch up and convince them to delay buying or selling. Then you may not be able to get them on the line at all. However, had you replied quicker, it's possible you could've made them feel more comfortable in their initial decision to start the process. 2. Interactions have not met expectations No two clients are the same, but you can likely gauge their personalities — laidback, sensitive, nervous — and adjust your approach accordingly. Otherwise, they might instantly recognize that it's not a good fit and move on to someone else. Let's say you consider yourself a "shark" because you're not afraid to be assertive and a bit aggressive with your negotiation tactics. That plays well with some clients, but maybe other prospects need a more nurturing approach because they don't want to feel pushed into a deal. If you can sense the frustration, try to re-calibrate and ask clients what they are comfortable with. There's a delicate balance between making sure they are ready to move quickly in a hot market and making sure they feel heard along the way. Similarly, make sure you set expectations right off the bat for how intense the process might be. You don't want a potential buyer or seller to feel like their expectations weren't met because you didn't sit down with them and set the stage. If you think that either of these scenarios may describe you, ask your colleagues, past clients, and even lost leads if they would be willing to give you honest feedback. 3. You aren't easily found on Google Buying and selling a home are among the most important financial decisions we'll make. As such, you can bet that consumers will be researching any agent they are considering working with. Nowadays, that research starts on Google — the most-used search engine in the country. If a potential lead types in your name and can't find much about you on the first page of search results, what do you think their impression will be? Probably, "Is this agent still in business?" Or, "Is this agent any good?" Prospects will choose your competitors instead of you because they appear when leads search for them, providing instant credibility and trust. Make sure you are easily found on Google by maintaining SEO on your real estate website, updating your Google business profile regularly, and taking out ads that are featured prominently at the top of the search results page, like Google's Local Services Ads. 4. Leads forgot about you How are you ensuring that you stay top of mind after acquiring new leads? As we mentioned earlier, not everyone will be ready to transact right away. Some might get cold feet, while others just need to sort out some details before jumping in. Either way, you need to stay visible so that leads get back in touch with you when they do become ready to buy or sell. Here are a few ways to stay top of mind: Add new leads to your digital ads' custom audience list so your ads are served to them whenever possible. Include leads in your regular emails, such as e-newsletters and local market reports. Check in with a personal text or email to ask if you can answer questions or help with next steps. 5. You didn't prove your expertise Consider the elevator pitch you give when you first connect with new leads. Do you exude confidence, effectively communicate your real estate expertise, and help leads understand how you outshine competitors? If not, all it will take is a convincing conversation with another agent — or even an intriguing advertisement — to change someone's mind. Don't take personal referrals for granted, either. Just because a former client or mutual connection made an introduction doesn't mean that lead has committed to working with you. Prove your expertise when you speak to them, be easy to find on Google when they search for your name, and take the necessary steps to stay top of mind if they aren't ready to transact. To view the original article, visit the Homesnap blog.
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How to Actually Generate Good Quality Leads on Facebook
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4 Unconventional (But Very Effective) Real Estate Lead Generation Ideas
Interestingly, it wasn't all that long ago when real estate agents questioned why they should advertise on Facebook. So, how do you know if what's deemed an "unconventional advertising channel" is now worth your time and budget? If it works, of course! We have four real estate lead generation ideas for your advertising playbook that we've seen work firsthand. When used correctly, they'll set you apart from your competitors and help grow your business. 1. Advertise on alternative (but popular) online channels, like Waze Waze, a navigation app, is an excellent advertising platform for promoting open houses. These ads appear in the app for nearby drivers (in a safe, non-distracting way!) and encourage real-time behavior, like checking out an open house that's just off your usual route. There are three different ad units offered on Waze: Pin ads: Your open house pops up as a distinctive pin on the navigation map. Search ads: Your listing appears at the top of results when a nearby destination is searched. Zero-speed ads: This banner appears on the Waze screen when drivers stop for at least three seconds. Each of these ad units offers Waze users the option to be redirected to your open house in a single tap. In addition to encouraging foot traffic, Waze ads also help increase overall awareness of your listing. Many people likely drive near the property daily, but not right past it if their route has them driving a street or two over. Through Waze, your ad acts as a digital yard sign for all in the vicinity to see, alerting them to your listing without needing to drive right in front of it. 2. Get featured in a Google Local Pack Google's data reveals that searches for "near me" were more than two times as popular in September 2020 as the same period two years prior. As a result of this trend, which Google recognized years ago, the company has been working hard to beef up its search engine results page for queries with hyperlocal intent. As a result, Google introduced the local pack. This eye-catching top-of-the-page unit displays a large map with pins and highlights three local businesses under the map. It's prime placement because it appears even before organic recommendations at the very top of the results page. It takes some elbow grease to make it into the local pack, but as long as you're consistent, Google will look upon you favorably. Here's how to increase your chances: Create a Google business profile and fill out all the fields of the profile, including adding posts and photos. Ask past clients for five-star reviews to complete your profile. The real key is regular maintenance. What this entails is gathering reviews and updating photos and content posts weekly. Doing this signals to Google that you're an active real estate agent and that you have a profile with fresh content that users will care about. The more up to date you keep your profile, the more likely Google is to include it in the local pack and on the map. We love this particular real estate lead generation idea because focusing on your Google business profile does much more than just helping you appear in the local pack. 3. Prioritize getting positive reviews on Google We already mentioned that regularly generating new reviews on your Google business profile is necessary to be featured in the local pack. It's also a key component in your profile's SEO, helping it appear in indirect searches that have local intent (like "[city] real estate agents near me" instead of someone searching for your name). That's because Google wants to show its users content that is relevant and recent. If Google had to choose between a profile that has few reviews (or older reviews) and one that has many reviews, including recent ones, our research shows that it would definitely choose the latter. Besides boosting your online ranking, prioritizing reviews also helps you generate leads. Whether someone discovers you organically or Googles your name directly, you can guarantee that they'll read what others have to say about you—82% of consumers read online reviews, and they need to click through at least 10 before feeling like they can trust you. If you play your cards right—generate at least 10 five-star reviews to start and then gather new ones at least once a month—you'll easily convert those who read your Google business profile into leads. 4. Emphasize video in your marketing This might not seem like an unconventional real estate lead generation idea, but hear us out. You probably read often that you should be using video in your advertising—videos that introduce you as an agent, showcase your listings and feature happy past clients. But how often are you actually doing that? As much as the stats back up using video (such as that it outperforms text-only ads and static images by an incredible 1,200%), very few real estate agents are using it regularly. One easy way to share videos—that's also free—is to create a Homesnap Story for any or all of your listings. These work just like the popular Instagram Stories and will appear as media on your listing in Homesnap. When clients view the property page, they can watch your Story and click through photos of the home and any other media you added to the MLS listing. If you want to put budget behind your Homesnap Story, you can easily boost it to Facebook and Instagram in just a few taps. To view the original article, visit the Homesnap blog.
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Turning Renters to Buyers: Dispelling 5 Key Myths
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Why You Should Target First-time Sellers
When it comes to real estate leads, first-time sellers are in a class by themselves. Consider a few of the things that make them stand out: They are some of the most motivated people in the real estate market Their needs are unique and extensive, partly because everything is new They may have a lifetime of future real estate transactions ahead of them True, not everyone will sell their first home at a very early age. But the latest research shows that Gen Z, the youngest generation in today's market, is motivated to both buy and sell early. More than 85% of Gen Z respondents in a recent survey said they planned to buy their first home by the time they turn 35. Nearly half say they expect to own a home no later than the age of 29. As a result, 88% of sellers aged 22 to 29 are first-time sellers. What's more, younger sellers overwhelmingly say they prefer to use an agent to ensure their transaction goes smoothly. Ninety-four percent of sellers in the 22-29 age group used an agent to complete their sale, more than any other age cohort. Because most first-time sellers will be on the younger side, they have great potential to deliver a high lifetime customer value. An amazing 77% of first-time sellers did not use the same agent who sold them the home. This is true even among the sellers who had a very positive experience with their original agent. By catering to first-time sellers, you have a unique opportunity to build a resilient, sustainable business that can offer value to a large and growing group of customers. The question, of course, is how to appeal to them once you have decided to do so. Delta Media Group has the answers: Modernize Your Practice with the Right Technology From the standpoint of a Millennial, a business without a credible real estate website simply does not exist. In the eyes of Gen Z, this effect is even more powerful. The very first thing to do to appeal to tech-savvy first-time sellers is to make sure your website reflects your brand and is easy to use on mobile. Make Your Business Instantly Responsive Younger first-time sellers are much more likely to communicate via text than by voice call. By incorporating text and social media into your business, you prove that you are the nimble agent they want. Aim to respond to first-time inquiries in five minutes or less. You can set more lenient expectations once you land your client. Market Your Ability to Leverage Digital to Sell Sellers often worry about whether or not they're getting enough of an agent's time and attention. One way to lay this concern to rest is to show off your ability to market a home with the newest digital technology. Virtual tours are hot because they allow buyers to expand their search territory without having to travel far. Publish Plenty of Content Especially for Sellers Like buyers, first-time sellers don't usually jump in without doing research beforehand. They use online content to piece together a picture of the market. Although they aren't likely to contact you directly at this stage, you can become a trusted advisor if you have the right content ready for them to peruse. Position Yourself as the First-Time Seller Expert Whatever impression your website gives, you'll have to keep it alive in your personal interactions. Lay the right groundwork by making sure you have answers at hand for common first-time seller questions. Tap your network so it's easy for your clients to access the expertise and services they need at every step of their journey. Get Ready to Juggle Selling and Buying Most sellers aren't planning to go back to the rental life — they also need to buy another property as they sell. This means they will have many of the same questions buyers do about financing, negotiation, and more. It may be wise to learn the ins and outs of bridge financing if you expect to work with many first-time sellers. Have a Follow-Up Plan for Every Client Once your happy customer has completed their sale, the next phase of the relationship kicks in. That means retention! Have a mix of methods like social, text and handwritten notes. You can maintain your relevance far into the future by publishing homeownership content the seller will continue to reference. Institute Email Marketing Across Your Business Email marketing helps you turn leads into customers and customers into life-long brand advocates. Most of your first-time sellers will be digital natives and very used to navigating email. Email marketing automation with "My Customer for Life" newsletters makes the process easy while still maintaining the human touch. RE Technology readers can reach first-time sellers more easily with a 30-day free trial of DeltaNET 6. To view the original article, visit the Delta Media Group blog.
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How to Capture Leads with Your Real Estate Website
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Friday Freebie: Prospect List of 200 Targets in Your Area
Online ads have made it easy to market to real estate prospects online--but what if you want to target them offline? In this week's Friday Freebie, we're highlighting a way to reach your geographic farm via direct mail marketing with a FREE prospect list of 200 verified names and addresses. Read on to learn more! Free List of 200 Prospects, courtesy of ProspectsPLUS! How do you target real estate consumers offline? By geographic area? By niche, net worth, or length of residence? However you market your services, ProspectsPLUS! is offering RE Technology readers a FREE list of 200 prospects (with promo code FREE200) via the targeting option of your choice: Length of residence Geographic area Empty nesters Absentee owners High income renters For Sale By Owner High net worth prospects Real estate investors And more! You can use your free list to enhance your current marketing efforts or to try out an entirely new niche! Start by going to this page. And then: Under Step 1, click the Build Your List button Choose how you'd like to select your targets: via MapMyMail or Demographics Follow the steps to build your list Make sure to limit your list to 200 to keep it no-cost Name your list Click Add to Cart, then Checkout on the next page Add promo code FREE200 (important!) Click Place Your Order Once you've finished building your list, a receipt will be emailed to you instantly, followed by a link to download your list. Get started targeting real estate consumers in your area and create your FREE prospect list with promo code FREE200 today!
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5 Easy Ways to Get MORE Listings This Fall
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4 Strategies to Stay Top-of-Mind with Past Clients
You've spent endless amounts of time building a loyal clientele of luxury real estate buyers and sellers, but are you nurturing them? Today, technology makes it easier than ever to attract new clients and strengthen your existing relationships, which is the best thing you can do to simplify your business and tap into a high-quality source of referrals. Here are four ways to do just that: 1. Nurture clients with at least a monthly email Email is the easiest way to nurture clients both consistently and automatically. That means there's no way to forget, get too busy or overthink it. Keep in mind that nurturing clients doesn't just mean sending out emails featuring listings and open houses, but rather ones with useful content about the real estate market or lifestyle updates. This is a great way to remind clients of your expertise and value so that when you do send links to new listings or make a pitch, they'll be more likely to respond (or open the email in the first place). 2. Send an occasional gift Along with sending regular emails, your clients will appreciate the occasional small gift to remember their birthdays, anniversaries or show you're thinking of them during the holidays. Rather than simply sending flowers to clients' homes, sends flowers to their workplace, this way their colleagues will ask about the flowers. In turn, this leads to clients telling their colleagues about the amazing experience they had with you. Naturally, some of those colleagues then ask for your information the next time they need a real estate professional. 3. Plan a quarterly check-in call Unlike emails, nurturing clients with phone calls requires a little more effort, but gives you an opportunity to catch up in real time on a more personal level. Plus, a phone call is a great way to identify potential referral opportunities when they come up in conversation. Just remember, it's important to make these calls without the intention of booking an appointment or pitching your services. You want clients to feel like you're someone they can trust, so it's best to show a genuine interest in what your client has been up to since you last spoke. 4. Use social media Another easy way to stay top of mind? Social media. The idea isn't to post for the sake of posting, but to post for the sake of keeping your market expertise visible. Just like with emails, you'll want to share valuable content rather than simply sharing listings or pitching your services—and don't be afraid to work your own personal story and personality into your posts, either. While you don't want to "overshare" or come off as unprofessional, you do want to share enough of yourself to help you stand out from the crowd and make it easy for clients to connect with, relate to and respect you. For more information, or to give Amarki a try, visit our website HERE. About Amarki: Amarki was built by real estate experts for brokerages and agents based on years of industry experience and firsthand feedback. We developed a marketing tool accessible to anyone, no matter the experience or marketing budget. By providing an intuitive tool that works "for" the agent, Amarki is able to remove the complexity of marketing tasks making agents more active. Check us out HERE.
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6 Tips for Realtors to Generate Real Estate Leads Online
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7 Things You've Probably Gotten Wrong About Real Estate Leads
1. "Online Leads Are Low Quality" 2010 called and they want their complaint back! But really, online leads are a lucrative part of nearly every top producer's database. You just have to understand how to create a system to work them from the top of the funnel all the way down to when they're ready to convert. How do I build a system to convert my leads? Partner with a real estate CRM that can help you qualify, categorize, sort, and work your leads effectively! It's all about being in the right place at the right time. 2. Always Be Prospecting Okay, okay. It is important to always be prospecting. However, it's more important to always be nurturing. New leads are awesome, but what percentage of new leads that come through the door convert to a closed deal? Your business will grow tenfold if you invest as much effort as you normally do into prospecting into your lead follow-up and nurture as well. Because your database is a goldmine! Remember this: Yesterday's "maybe" is tomorrow's "yes"! 3. "It's Difficult to Find Seller Leads" It may be more difficult to find seller leads than buyer leads in a market with record buyer demand and low inventory, but it's certainly not impossible! It's all about getting creative in order to unlock standing inventory out there. Need some inspiration? Here are 34 creative seller lead generation strategies to get you started. 4. "The More Leads the Better" This one is half true, half false. When it comes to the individual agent, you don't want to have more leads than you can comfortably handle! If you're a team leader, consider leveraging a Lead Pond Account or a tool like SharkTank to dispense leads evenly and effectively to your agents. As a business, "the more leads the better" is pretty accurate. In fact, there is a direct correlation between database size and production volume! BUT! A growing database will only be fruitful if you know how to scale. Learn how to systemize your business so it becomes rinse-repeat. 5. "I Can Handle Lead Follow-up on My Own" Ninety percent of real estate agents will give up on a lead after the first four touches, despite the fact that 70% of the time that lead will go on to buy a home within the year, just with a different agent (NAR). That stat is pretty shocking, right? Make sure you're not giving up on leads when they don't convert on the first try. Leverage automated nurture plans to continue engaging with leads, including e-Alerts (fresh, personalized listings!) and helpful market data, so that you stay top-of-mind even without lifting a finger. Did you know that responding instantly to inquiries can increase lead conversion rates by up to 391% (Zillow and MIT)? Yep, speed-to-lead is critical in real estate! Even with an ISA, it's impossible to handle effective, speedy lead engagement that services leads around the clock. Consider partnering with a Lead Concierge Service that can handle it for you, so you can rest assured your leads are engaged while you focus on your top-dollar activities. 6. "It's Hard to Qualify Online Leads" This is where technology is your friend. With an effective IDX website, you can leverage built-in qualifying questions that capture information when new leads register on your site. Things like: "What's your timeline for purchase?" "Are you pre-approved for a loan?" Even, "Do you have a home to sell?" (to capture potential seller leads!) Along the same trope that "online leads are trash," comes the myth that it's impossible to verify or qualify online leads. This may be difficult to do on your own, but if you are partnered with real estate technology, you may have the ability to verify your leads before they enter your database. PRO TIP! Don't ignore seemingly fake or "trash" leads. As long as you have one piece of real information (phone number or email address), you should still work the lead. Maybe offer a special prize for agents who can convert leads with names like Seymour Butz or NOTHANKS. 7. "Cost-Per-Lead" is Everything Here's the thing. As the consumer evolves, so to must the marketing practices. Here's why you should focus more on ROI and cost-per-conversion versus just cost-per-lead. First, cost-per-lead isn't fixed! It shifts with seasonal trends, market forces (out of your control), location, competition, and demand. And second, getting a lead through the door means nothing if they don't actually decide to work with you! To view the original article, visit the BoomTown blog.
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Friday Freebie: Home Seller's Guide Template
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Find Sellers Now! Farming for Prospects with RPR
If you know anything about real estate right now, you know that inventory is tight. In this market, you simply can't wait for sellers to come to you. You've got to go find them! And you find them by farming for prospects. Geographic farming is one of the most tried and true techniques when it comes to an agent's long term success. You need to find the right neighborhoods, crunch data to determine if they're ripe, and effectively market yourself to the homeowners in the area over a sustained period. Not sure where to start? RPR is here to map out your path to success... You build a farm—then harvest it for leads! If you're not familiar with geographical farming, here's a simplified explanation: a farm is an area, usually a neighborhood, that you identify as having great potential to market yourself to in order to find prospects and clients. RPR can help you with both. Find your farm and dig So how do you figure out if a neighborhood is worth targeting? Turnover rate is one of the most important factors to consider. Turnover is a percentage of how many homes have sold in a defined area in a year. For example, if an area has one hundred homes, and 10 are sold in a year, the turnover rate is 10%. A good rule of thumb is that your farm area must have at least a 5% turnover rate for you to invest in targeting it. Another important thing to look for when doing this research is to see if a market is dominated by one agent already. If one agent already has 25% or more of the listings in an area, you might want to look elsewhere. This agent has beaten you to it and has obviously already invested their time, resources, etc. We're not saying you can't do it or that it is impossible, but it's more difficult to establish yourself in a market that's already been fished. Or farmed, in this case. Market yourself to your farm After you've found your area and done your homework to make sure it's a fertile farm, you need to market yourself to those homeowners. You'll need to apply a mix of marketing tactics, over at least a one year period, including email, social media posts, phone calls, door knocking (post-COVID, of course), and perhaps most importantly, direct mail. RPR adds tons of value by giving REALTORS® the ability to easily create mailing labels, up to 2,000 per month. (Watch this video: Create Your Own Mailing Labels In RPR: A How-To Video for details.) Pro Tip: How to Target Specific Homeowners - This RPR Shortcut will guide you through an example of how to search for Owner Occupied homeowners that have owned the property for between 5-15 years. Try it now! Farming for prospects: one webinar that can change your entire marketing strategy We know what you're thinking, "This sounds very complicated and requires a lot of effort. And there's math?!" Okay, it will require work on your part and you will have to put in some time. (Kind of a given, right?) However, it's not as difficult as it sounds and RPR has simplified it for you. Learn more by saving your spot in this upcoming webinar, "Finding Sellers for Today and Tomorrow: Real Estate Farming is Your Key to Success." Attend this special webinar and you'll see how easy it is to start farming for prospects in RPR. We show you each step, where to click, how to use the maps to uncover data, how to determine if one agent is getting all the listings, and even how to create mailing labels for your direct mail campaigns. Finding sellers and getting listings should be the top priority for every practicing REALTOR®. Get started and farm for prospects today to have listings tomorrow. If you want to dig even deeper and sharpen your farming skills further, be sure to check out: RPR's Ultimate Guide to Geographic Farming. It goes in depth to explain every last detail to help get you up and running. Good luck, farmer! To view the original article, visit the RPR blog.
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Post-Holiday Tips for Finding Leads Before Summer Ends
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The REAL Problem with Buying Online Leads that No One Wants to Talk About
If agents buy leads and grow their business through advertising, then they become transactional. If agents are transactional, then they become a commodity. If agents are a commodity, then they can be replaced by technology. THIS is the REAL problem with buying online leads and any kind of advertising. And here's the thing—the companies who sell you leads and advertising are definitely not going to talk about it. It's not in their best interests. But the good news is that the data says you shouldn't buy online leads or any kind of advertising! And here's the punchline: if you don't, then you will stay relevant and not be replaced by technology companies like Redfin and Zillow, and iBuyers like Opendoor. Now let's dig into the facts… How do homeowners find their agent? According to the 2021 NARS Home Buyers and Sellers Generational Trends Report, upwards of 75% of home sellers used a referral or agent they knew from the past to list their house. In addition, 36% of sellers recommended their agent three times post-sale of their own home. Conversely, 1% of sellers used advertising to choose an agent and 1% used direct mail. ...so why are real estate agents and brokers spending so much on these platforms? The loose answer is, because that's what they are told. When a new agent starts their business, they are willing to go along with the status quo. As for brokers, they too have been led down the garden path, so to speak. They can only provide so many tools for their teams before they become antiquated or ineffective. What do homeowners care about? The three most important factors in choosing a real estate agent to sell, by level of service, according to the 2021 NAR report, are: Reputation of Agent: 31% Honesty and integrity: 26% Knowledge of Neighborhood: 15% So, it stands to reason that if people choose their agents based on the factors above, wouldn't buying leads and paying for bus bench advertising be unnecessary? Simple answer: Yes. The three factors listed above clearly have little to do with the actions of buying leads or advertising. What they all have in common is human connection. It's been proven time and again that people work with people they "know, like and trust." So how are real estate agents supposed to create this loyalty so they can build a business instead of being transactional? The primary objective of real estate agents should be to become more relevant by their clients and become indispensable to their community. Additional problem: The Covid pandemic Advertising has often been referred to as "merely a connection of strangers." Now, consider what being a consumer, during a pandemic, while trying to buy or sell your house with a stranger really entails? Not sold on the idea? The pandemic has far reaching effects as it has created a lot of fear-based behavior. We no longer want to meet strangers face-to-face for fear of getting sick. We have created "safe" bubbles and are intentional with whom we "let in." These are people we know, like and, most importantly, TRUST. Combine this with the fact that homeowners have had over five years of experiencing poor service from agents who attest they are the local market expert, only to find out they flash fancy numbers and show comparisons of other listed houses and call it a day. With a 30% decline in conversion from advertising, evidence is now indicating a massive shift towards using agents that people know, like and trust or who were referred to them by people they trust. "The data speaks for itself. Advertising is working less and relationships are working more. Whether an agent uses my company's solution or not, the key to growing your business in this new normal is to spend less time and money on buying leads in all the various ways, shapes and forms you can, and shift that time and money towards adding value to people," explains Grant Findlay-Shirras, Co-Founder and CEO of Parkbench.com, a leading online website that helps real estate agents connect with their community and foster relationships with homeowners and business owners. Real estate agents who fundamentally understand these concepts can consistently generate new business. This can be accomplished using various techniques and implementing them into one's daily business routine. Some concepts include, but are not limited to, the following: Create a website and post local news and events (helps with SEO) List the businesses in your community, and post their deals, sales and specials (helps with SEO) Blog about local schools, parks, events, etc. (helps with SEO) This list is endless, but the work isn't. "A referral system can be grown organically through providing value upfront and then cultivating your database," says Rick Aurora, a broker of Royal LePage Infinity Realty in Toronto, Canada. "The best referral in life is a personal referral from someone you know." Rick and many other business-conscious real estate brokers are turning to companies, like Parkbench, for alternate solutions to help their agents in this fast-paced and highly competitive industry. "How can I help you?" These are five simple words, but they can have a huge impact on and can change your business forever. These words can help you separate your real estate business from your competition. These words can lead you to become the go-to person in your community. Service first By serving people first, by investing your time and energy into others outside of yourself and creating relationships that will last a lifetime, you become that person people will know, like and trust. As you refer people and businesses to each other, they will naturally want to refer business to you! It's the Law of Reciprocity! Now understanding the "Law of Reciprocity" is one thing; implementing it is another. Rick Aurora believes this wholeheartedly. His company, Royal LePage Infinity Realty, reached out to Grant Findlay-Shirras when he saw what the Parkbench platform could do for his team. They have since formed a partnership that allows real estate agents to use the platform on a pay-as-you-go basis. "Grant has offered us to 'try before you buy' his services. That takes TRUST!" Rick states. How does it work? The Parkbench system has client acquisition down to a science. It is a systematic and predictable process to help real estate agents give value to their community. "The average agent who uses Parkbench grows their income by 25% year over year and they profit more since it's built on relationships and referrals vs advertising. Aligning with brokers across North America strengthens our position for long-term growth and offers them [brokerages] the ability to create business differentiation," Grant says. Do you want to do more relationship based, community-driven marketing? If you're an agent in The GTA, contact Rick to get access to Parkbench at no upfront cost to you, and use it to help you get more listings and referrals! If you're an agent in any other part of the world and you want to become the local market expert and increase your exposure within your geo farm community, reach out to Grant Findlay-Shirras to learn how. If you're a broker owner or team leader who wants to give their agents a systematic and predictable way to create high quality leads in their geo farm that doesn't cost you any money, then contact [email protected] to learn more about "the local broker program." Free resource Do you want to know the top 30 local professionals who refer the most business to agents? Download this free ebook and learn who they are and how you can connect with them. Also, you will learn how to add value to business owners so that you can build referral generating relationships with them.
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Finally, Seller Lead Generation that Actually Produces Listings
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Friday Freebie: 2021 Referral Lead Strategy Guide
Inventory these days is looking a little lean, but commission checks are fatter than ever. Business is booming--if you can get it. Seller leads are hard to come by, and so are buyers that can compete against today's cash offers. So what's an agent to do? In times like these, it's best to turn to what—or in this case, who—you know. Your friends, neighbors and business associates are rich sources of referral leads. In this FREE referral strategy guide, you'll get the recipe for turning those leads into closings. Download the 2021 Referral Lead Strategy Guide, courtesy of Zurple In Zurple's free guide, you'll learn everything about referrals—from customer service to hosting in-person events, and even how to choose the closing gift. Download the guide today to discover: The basics of starting a referral program A calendar of monthly referral event ideas Referral lead strategies for social media Neighborhood lead generation techniques How to earn referrals via business partners Closing gift ideas and more! Plump up your bottom line this summer with a solid lead generation strategy. Download Zurple's 2021 Referral Lead Strategy Guide today to get started!
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How to Get More Seller Clients and Win Every Listing Appointment
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Open House Ideas That Bring in Leads
With Memorial Day behind us and the country easing back to normalcy following more than a year of shutdowns and social distancing, open houses are set to be a big--and we mean big--part of the summer of 2021. You're probably gearing up to host plenty of them in the near future, so why not make sure you're taking every opportunity to delight prospective buyers and win as much future business as possible? Leverage Waze in Your Open House Marketing More than a year since the pandemic began, many people are still opting to use their cars over public transportation and ride-sharing services. So like any good marketing strategy, go where your audience is. Think of Waze — the largest community-run navigation app, with more than 140 million monthly active users — as the digital equivalent of roadside billboards and top-of-neighborhood yard signs. Just as those are intended to lure in passing drivers, so too is Waze. Only Waze has a much, much broader reach—meaning you'll attract far more interested prospects to your open house. In short, it's a much more efficient use of your marketing spend. It works like this: You advertise your open house on Waze during open house hours. As drivers use Waze to navigate around town and monitor traffic patterns, they'll get a notification to attend the open house when they pass within a specified radius of your advertised property. If interested, they can click on the advertisement and get step-by-step directions to the open house. Read this article for a more in-depth look at setting up a Waze advertising campaign. Optimize Your Open House Sign-in Sheet We covered this topic in a previous post, which we encourage you to read to get a more thorough account of what an optimized open house sign-in sheet looks like, but here's the general gist: Too many agents throw a piece of lined notebook paper on an end table and hope it's enough to farm potential prospects. But, it's not. Every open house sign-in sheet should include the following: Address Ask a question Leave a comment or provide feedback to the agent and/or seller What do you like most and least about this home? Real estate needs: Want to buy ASAP Want to buy within the next 12 months Want to sell Just looking Are you working with a real estate agent? What type of property are you interested in? __ beds __ bathrooms Single-family home Condo/Townhouse Specific features: ___ Have you been pre-approved for a loan? Would you like me to send you a free home evaluation for your home? If yes, home address: ____ Do you want to receive a free market report to learn about homes in this area? If yes, zip codes of interest: ____ Make Instagram and Facebook Stories of Your Open House If 2020 taught us anything, it's that we were all pretty efficient at switching to digital equivalents of in-person events. Even as we try to put the pandemic in the rearview, a proportion of prospective buyers remain reluctant to attend open houses. So why leave them out? Why not give them the opportunity to see what happened virtually? With Homesnap Stories, you can add unique, engaging marketing content right to your active listings through the Homesnap Pro app. Add text, emojis, and even use augmented reality to create one-of-a-kind marketing content that you can also share on Facebook and Instagram. Record a voiceover or add music to personalize your Stories even more. Then, once complete, you can push these stories directly to your Facebook and Instagram. Want to get more exposure? Put a little ad spend behind either type of Story on Instagram or Facebook easily with Homesnap Pro Ads. Use Video Ads to Generate Buzz About Your Listing You can also take those video tours and walkthroughs and turn them into Video Ads on Facebook and Instagram. This is a great way to gin up buzz for your open house, show your listing in a more interactive light, and give prospects a taste of your personality. Uploading your videos from your computer or phone and turning them into Video Ads just takes a few minutes. Or, Stream Your Open House Live If you'd rather host a virtual open house live rather than after the fact, it's possible with Homesnap. Using the Homesnap platform, you can promote video tours of a property and schedule and host open houses virtually, much in the same way you would an in-person one. Once complete, scheduled virtual open houses will appear as a purple-colored pin within Homesnap's map view, and property card banners will display the date and time of the virtual open house. Potential buyers can simply click to attend. Read more about how to set up a virtual open house here. To view the original article, visit the Homesnap blog.
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Real Estate Leads Exposed: Inside the Mind of Today's Home Shopper
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Friday Freebie: 5 Real Estate Checklists to Share with Clients and Prospects
You're organized, strategic, and all your processes are streamlined… and then there's your clients. A disorderly client can throw a wrench into the sale of a home no matter how cool, calm and collected you are as a real estate agent. Let's not blame your clients, though—the sale or purchase of a home is such an infrequent event in a person's life that you can't expect them to be on top of all the details that are important to the process. You can, however, prepare them for what to expect. That's where this week's Friday Freebie comes in. We're sharing five checklists you can share with your clients to help keep them on track all the way through moving day. 5 Real Estate Checklist Templates, courtesy of Zurple We have a saying around the RE Technology office: "Plan your work and work your plan." Having a roadmap for success makes achieving your goals far simpler. It's the same with buying or selling a home—when your clients know what to expect and what to do, they can sail through the home sales process with maximum ease. These five checklists from Zurple break down what your client needs to do in each of five situations. They'll see the steps involved in preparing a home for sale, decluttering before an open house, how to prepare to buy a home, what to do before moving, and more. Home Buyer's Checklist Home Seller's Checklist Prepare Your Home for Market Checklist Open House Checklist Moving Checklist You can also use these lists as a lead magnet on your website or on social media. For example, you can target prospects who are researching what to do to prepare to buy or sell a home, and offer these checklists to them in exchange for their contact information. All five checklists can easily be edited with your name and contact info so leads know who to reach out to when they're ready to transact. Download these five FREE real estate checklists now!
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3 Steps to Create More Listing Inventory
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Organizational #ProTip for Your Real Estate Lead Generation
It's good practice to diversify your lead sources. Meaning, don't put all of your eggs in one basket. The most successful real estate businesses tend to have a variety of lead sources, from internet leads to referrals and drop-ins, to some more classic tactics like cold calling and open houses. But your prospecting plan is going to look different for each source. Here's a tip for how to organize or "bucket" your lead sources so you can build out the perfect lead generation strategy. Internet/Online Leads These leads are top-of-the-funnel, meaning they're a bit colder and will have a longer "incubation period" before they convert. You'll need a strong engagement and nurture plan to convert as many of these as possible! (Which a CRM like BoomTown can help you out with.) Lead gen strategies for online leads are: Digital advertisements on Google and Facebook Organic website traffic Online testimonials Custom landing pages on your IDX website Prospect Leads These are more mid-funnel leads that don't fall into the internet lead category. Lead gen strategies for these types of leads are: Hosting events Open houses Cold calling Expired/FSBOs Sphere Leads These are going to be your warmer leads that are already somewhere in your sphere. This could even include leads that already live in your database but that you haven't engaged with in a while! Lead gen strategies for sphere leads could include: Hand-written cards Automated Smart Drip emails through your CRM Video text messages Facebook messages Voicemail drops The name of the game is to organize your leads appropriately and understand where they fall into the funnel before making a plan for how to engage with them once you have their contact info. To view the original article, visit the BoomTown blog.
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Real Estate Agents Can Attract More Clients with These 5 Tips
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Cost-Per-Lead Isn't Everything! Here's Why
For many years, the narrative surrounding lead generation in real estate has been, "You need the highest amount of leads possible at the lowest cost-per-lead." It's been drilled into our psyche and business models to chase the lowest cost-per-lead and churn out more, more, more. We've often been swept up on the same train! An affordable cost-per-lead is important, there's no denying it. However, as we enter a new decade and a new era of innovation in real estate, I think that it's important to expand our focus into a more holistic view of healthy lead generation and conversion. Let's explore a few ways to do that. Changes in the Landscape What's changed over the last two, five, and 10 years? Well, the internet and consumer behaviors online have changed at lightning speed. On one hand, businesses have grown savvier and more prescriptive with online marketing. Digital advertising on Facebook and Google has grown through algorithm shifts and new updates allowing real estate agents to target their markets more specifically to generate leads. As education and capabilities increase in digital marketing, so too does competition. Additionally, consumer behaviors have shifted. The percentage of U.S. adults who use social media increased from 5% in 2005 to 79% in 2019. We've grown accustomed to scrolling aimlessly. Watching videos without sounds. We're used to seeing ads. And we're used to ignoring ads! As the consumer becomes more and more tech-savvy, marketing strategies need to stay ahead of the curve to keep up. Cost-Per-Lead Isn't Fixed (or Guaranteed) There will always be variables outside of your control that affect your Cost-Per-Lead. Seasonal Trends Online searches rise in January and demand peaks between April and June. More people begin actively looking and seeing houses with the intention of moving during the summer. In July, things begin to plateau, and demand dips between October and December. The combination of search/demand and the number of advertisers throughout these peaks will change your CPL. Market Forces External factors will affect your CPL that are entirely out of your control—natural disasters, shifts in the economy, election years, housing market, etc. Always have your finger on the pulse of these market forces and be aware of how they might influence your CPL. Location, Competition, Demand A $500 ad budget in small-town Texas is going to go a lot further than in San Francisco or New York City. Keep tabs on the state of the market in your area, the number of competitors, etc., and understand that your CPL can only go so low if you are in one of these hot locations. Conversion Rate is Key Try to focus on a blend of quality and quantity when it comes to leads. And try to shift your mindset when it comes to how you define the quality of a lead. If you have a phone number or an email, you've got something to work with. Understand that online leads are very rarely going to be as "hot" as referrals or call-ins. They may be six to 12 months out from buying or selling. Or even longer! But if your business strategy is centered around conversion and a long-term nurture plan for your pipeline, you'll see success with online leads. Here are some tips for improving your conversion rate: Build an Effective Landing Page Your consumer website should be designed with the intention of maximizing conversions. It needs to be visually appealing, easy to use, and strategically prompt the user for their information. Some CRMs will build this page for you, which is ideal because they have built-in data and expertise on what works. If you're building this page on your own, do your research and consider hiring a coach or consultant to make sure you do a good job. Invest in Nurturing Leads The agents with an effective long-game nurture plan will have a higher ROI over time because they'll close more of those warm leads over time. Nurturing leads requires strategic contact through drip emails, texting and phone calls. These strategic touches keep warm leads informed and engaged, and they will allow you to see which leads might be ready for direct contact. Create Compelling Ads and Copy The ad itself is the catalyst for generating a lead, so the copy needs to be compelling and concise with a clear call-to-action. The image needs to be professional quality. If you're working with a CRM, they're likely doing a lot of this work for you, but if you're not, make sure you are paying attention to these details. A/B testing will improve your ad campaigns. Broaden Your Scope of Keywords People browsing for homes are more likely to search with general/broad keywords. For example, even if someone is looking for a luxury home in Isle of Palms (small sub-city of Charleston, SC), they will likely still search for "Charleston Homes." In these broader searches, there is often less competition and higher traffic. To view the original article, visit the BoomTown blog.
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5 Unconventional Methods for Mastering Lead Conversion
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11 Foolproof Seller Lead Generation Ideas for Real Estate Agents
1. Establish connections in local Facebook communities and position yourself as a resource/educator (not a salesperson!) 2. Leverage custom landing pages with contact forms to target seller leads, such as home valuation tools, instant offers, preferred vendors, etc. 3. Go classic with sleek print materials. Direct mail is making a comeback, with less competition and increased response rates! 4. Create seller-driven content like guides, downloadable PDFs, blogs, videos, and webinars. Content is king, so if you don't have the time or skills to create content on your own, consider partnering with a freelancer to help you out. 5. Throw a house-warming party for a VIP client! Have a client that's well connected in the community? Offer to throw them a catered happy hour and get your networking game face on. 6. Run a remarketing campaign on Facebook promoting sold listings and re-engaging "abandoners" who browsed your website and left. 7. Seller leads are drawn to agents with a niche market: historic homes, beachside properties, luxury, up-and-coming neighborhoods, eco-friendly, etc. 8. Expireds and FSBOs: A classic recommendation for generating seller leads (because it works). 9. Continue to be the real estate educator and call past clients and say, "Good news, your home value went up!" Keep them in the loop on the market and they'll work with you when they're ready. 10. Freshen up your listing presentation! Download this free checklist: 4 Steps to Winning a Listing Presentation 11. Qualify your buyer leads when they register on your site by asking, "Do you have a home to sell?" Remember, many buyer leads are seller leads as well! To view the original article, visit the BoomTown blog.
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5 Lead Magnets for Your Facebook
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Lost Sales Leads: Common Problems and How to Correct Them
In the digital age of real estate sales, the process of successfully converting prospects to leads and closed business has become a fine art. No matter how refined a process becomes, losing a lead is inevitable. This article aims to discuss some common problems that may lead to sales loss and how you can correct them. We'll be doing a deep dive into the world of real estate lead generation best practices and how to help ensure a lead is not lost after you generate it. Although we'll dive in specifically to boosting conversion within the real estate industry here, the concepts explored in this article can be used for sales leads in any industry. Lack of Presence on Social Media Think about your favorite brands. Regardless of industry, you'll notice that some of the best brands have clear, concise, and dedicated social media strategies. According to Hootsuite, there are approximately 3.2 billion (42%) social media users across the globe; clients today expect a sophisticated social media presence. If your online presence is unprofessional or weak, it certainly won't build credibility with buyers, and you may even lose the lead before you have a chance to introduce yourself. Having a social media presence is excellent, but unless you're able to come up with a precise and measurable plan of action, there's a strong likelihood of getting lost in the noise. We suggest real estate agents follow these five best practices to grow your social media presence and keep your business organized: Identify the social channels you want a presence on (master a few as opposed to delving into many) Develop a social media calendar to organize your social strategy Follow the 4:1:1 rule, depending on the platform Add your social media channels to all marketing material (online and offline) Encourage your clients to interact with you on social to build a powerful, core audience Respond to all sales inquiries through social promptly Calls-to-Action That Lead to Nothing We're seeing a lot of real estate agents take their business online with stunning websites. However, even the most beautiful websites can have a low conversion rate if the calls-to-action (CTA) are not working as they're supposed to. Whether you're an accomplished Realtor or someone new to the field, it's essential to capture all potential prospects into sales leads. Here are some common CTAs that we see advertised through real estate marketing websites and collateral: Contact Us Call Button Free Home Evaluation Free List of Homes Under $$$,$$$ One of the toughest aspects of real estate marketing is getting a customer to become aware of your brand and to visit your website. That's why it's important to optimize to ensure that you are converting as many visitors into sales leads as possible. One way to turn a potential sale off is to have CTAs that don't lead anywhere. For example, your "Contact Us" button leads to a 401 error, your "Free List of Homes Under $$$,$$$" offering yields nothing. Empty offers and CTAs such as these are sure to sour any prospect, so ensure that you have your bases covered by testing your website often to ensure it's functioning as needed. Go through your online presence (website, emails, etc.) with a fine-toothed comb and intentionally look for problems – you may save yourself a lead! Not Implementing Face-to-Face Interactions Although we're living in an age consumed by digital media, face-to-face interactions are still crucial to closing a sales lead. There's nothing better when it comes to rapport building than face-to-face interaction. It provides an added sense of personalization and allows agents to understand their clients and their needs on a personal level. According to the Harvard Business Review, face-to-face requests are 34 times more successful than ones sent via email. Ignoring Customer Expectations There's an old saying that is as true as any in the world of real estate sales, "Underpromise and overdeliver." Signing a client on to work with you is just the beginning of what one hopes is a long-term business relationship. You've proven to them that you're capable of delivering results, now it's time to achieve them. But what happens when you have promised them the world and set them up with unrealistic expectations? In most cases, it will yield negative sentiment on the client's behalf, and they'll share that negative experience with their inner circle as well—you don't want that. The best way to avoid this experience is to sit down with your client and have an open discussion with them in regards to their expectations. Not only does communication help create a more productive workplace, but it also helps build more sustainable client-Realtor relationships. If you feel as though they're unreasonable, be open, and communicate that before proceeding. It's important to get the lay of the land when working with a client to ensure that they're satisfied with your service and retain you as their agent for life. Not Networking Networking is a critical part of a real estate sales leads generation strategy. You can be the most efficient, results-oriented agent in the nation, but if you're not putting yourself out there and speaking with other agents and clients, you're doing yourself a disservice. Sales leads can be generated anywhere, and at any time, so it's necessary to keep the following points in mind: Always have a business card on you; you never know when a lead will present itself. Build a network of tradespeople who you refer contracting leads to, and in return, they will refer real estate leads back to you. Do not make all conversations about you and your business; read the room and if the conversation doesn't warrant bringing up your job, don't. Building relationships is more important than dominating the conversation. Give your clients a holiday gift. It's an opportunity to get in front of them at the end of the year and get an update on their needs without being too sale-oriented. Not Updating Your CRM CRMs have been a game-changer for the real estate industry. By utilizing a CRM, you're able to effectively manage the entire client journey from prospecting to post-sales all in one centralized dashboard. Now, more than ever, businesses need a solid CRM to run successfully (especially in real estate). It gives you a look at what lead generating tools are most useful, the biggest reasons that you're losing sales leads, and best of all, it houses all prospect and client information in one area to keep you organized and focused on what you do best, closing deals. If you haven't done so already, check out this list of the best real estate CRMs. To view the original article, visit the BoomTown blog.
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Real Estate Prospecting Letter Examples and Tips
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Spring Is Here: Get Seller Leads and Step Up Your Listing Game
"He who controls the listings, controls the market." Tom Ferry speaks the truth. So as temperatures warm and markets heat up, let's make sure you're setting the right strategy. Here's how to generate seller leads, win more listings, and control more market share. The most successful agents dedicate time and resources to three main things: prospecting and generating seller leads through digital ads effectively marketing their listings through social media ads and open houses following up with effective communication strategies and dynamic retargeting ads. Finding and Effectively Targeting Seller Leads Generating seller leads online requires an effective digital strategy. It's all about using technology to target efficiently, capture information, and continue to follow-up and provide value to your seller prospects. Target seller leads with location-based ad campaigns that drive them to your website or a home valuation landing page. Leverage landing pages that offer instant value. Home valuation pages entice visitors with instant reports on their home's value and a summary of the market area. Successfully capture lead information and property details and leverage a CRM to automatically add this to your database, and fill in missing information, even if they only submit an address. Build advertising campaigns through channels such as Instagram and Facebook to highlight active listings, promote open houses, and showcase successfully sold properties. Best Practices for Following up with Seller Leads To help you get an instant game plan, here's a free template for a 10-week, 11-touch seller lead follow-up plan. Remember throughout the follow-up process, the fundamentals are still your friends: Speed to lead. Respond as quickly as possible to new leads. Every minute counts Value Adds. Give them what they need before they even know they need it with helpful, relevant information like market reports for their neighborhood, e-Alerts on similar properties, and target them with ad campaigns that highlight your sold properties Consistent Follow-up. Include a variety of follow up methods in your nurture plan: calls, emails, texts, social Even if they are a ways out from selling their home, or unresponsive, it's certainly worth keeping them involved in your digital marketing efforts. That way, when the time does come when they're ready for help, you'll be the person they turn to. With the right technology, and automated processes, nurturing seller leads can be a breeze. Winning the Listing Listen and Learn About Your Prospect The goal is to be chosen as their listing agent. The strategy is to figure out what your customer's needs, wants, issues, and challenges are, and show how you can deliver.Ask the necessary pre-qualifying questions to start: What's your goal? Where are you moving? What is your motivation for moving (why are you moving)? What is your ideal timeframe? What's your Plan B if this doesn't work out? Come Prepared Like an Expert Come ready with comps for the last 30-90 days. But also show your expertise and neighborhood know-how by actually walking them through the properties. Go through photos and virtual tours to show the details, what was compelling to buyers, etc. Show-off your database and tech-savvy Leverage your software platform to show how easy you could make the process for them. Give them examples of how many buyers you can reach immediately looking for homes just like theirs. Mock up a listing ad to showcase their property through social media marketing, and explain how you can create dynamic ads to re-target folks who might have left your site, but have shown real interest in the property. Highlight how you can keep their property top-of-mind to the right buyers. You can create a case study on how the last house listed with you sold. Maybe it was above asking, or sold quickly, or even give a great example of your standard of service. Include numbers and examples of past ad campaigns. Marketing Your Listings to Wow Seller Leads Creating digital campaigns that showcase your listings is one of the most effective marketing tools to leverage. Your target audience is online. They're on Facebook and Instagram, and it's crucial to deliver your message where they're putting their attention. Social media marketing, building campaigns, setting budgets, meta descriptions and title tags can throw you for a loop if you're not experienced. Leverage digital marketers to help create and manage your campaigns effectively, or a software platform that takes the heavy-lifting off your plate. Marketing Central, BoomTown's self-serve advertising portal, is incredibly user-friendly. In seconds you can create campaigns that generate more leads, re-engage leads, and promote listings. Do you have everything you need to take the selling season by storm? To view the original article, visit the BoomTown blog.
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Facebook Turns the Table on Lead Gen: You don't go after leads -- leads come to you
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How Long Does It Take to Convert Online Real Estate Leads?
Feeling frustrated that your online real estate leads aren't converting? Or does it seem like they're taking forever? Here's the truth: online real estate leads take longer to convert than other sources and may convert at a lower rate than other sources like referrals, call-ins, etc. The average incubation rate for online real estate leads is anywhere from six to 24 months. The national average conversion rate for online real estate leads is usually reported to be between 2-3%. However, The National Association of Realtors® disclosed that the rate is actually closer to 0.4% – 1.2%. So, that means for every 100 leads you generate and work, you may convert two or three, and it may take a while to see it happen. I know what you're thinking—but don't be discouraged! With a seamless system in place designed to work and convert those leads, online leads can still be a lucrative part of your business. The name of the game is to leverage automation tools and technology services that allow you to work these leads without investing too much of your own valuable time. Build a Seamless Online Lead System First, make sure you have all of the necessary elements in place to turn those leads into closed deals. We recommend focusing on these three things: Speed to Lead It's critical to reach out within five to 15 minutes of the lead registering on your site. This is your best opportunity to make an impression! However, this is where many agents drop the ball. At BoomTown, we conducted a study of 40k+ agents and found that the average response time for an online lead was nearly 90 minutes. Yikes! That's enough time to lose an opportunity. It's impossible to stay glued to your desk all day. It's simply not the best use of your time! Plus, some leads might register on your site during the middle of the night or while you're on vacation. So this is a good area to rely on technology or a new hire in order to give focused attention to reaching out to leads. With BoomTown's Lead Concierge Service, Success Assurance, we generate and qualify your leads on your behalf (24/7 in as little as 90 seconds) and nurture them for up to one year. This way, no lead gets left behind. Qualification Have a plan for qualifying your leads and tagging/categorizing them appropriately within your CRM. The goal is to get as much useful information as you can as soon as possible. Like, LPMAMA: Location, Price Range, Motivation, Agent (are they working with one?), Mortgage (are they pre-approved?), and Appointment. (Note: If you're leveraging a Lead Concierge Service or an ISA, this should be a part of what they handle for you!) Pro Tip! Leverage your technology partner to embed qualifying questions within your IDX website. For example, when they're sharing their contact information with you, including the questions, "Are you pre-approved?" and "Do you have a house to sell?"  Follow-Up and Long Term Nurture Plug your leads into the right nurture plan to continue delivering timely soft touches with helpful information. You should be able to automate this within your CRM! Trust the Process If those three strategies are in place, the next thing you should do—be patient and trust the process. Yes, yes, I know it's not the sexy answer but it's the right answer. Online leads are "top-of-funnel," which means many of them are just beginning their search. They may be months away from being ready to transact. In fact, the average is six to 24 months. So you need to understand the lead funnel and the process of slowly moving leads through it, nurturing them so that when they are ready—you are their go-to agent! Remember: Your database is a powerful tool. Keep fueling it, keep working your pipeline. Stay on top of your systems and trust the process. To view the original article, visit the BoomTown blog.
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Improve Your Networking Skills: Follow These Tips and Watch Your Network Grow
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Friday Freebie: Prospect List of Empty Nesters Likely to Downsize
Want to supersize your business? Try targeting prospects who want to downsize their home. That's right, we're talking about empty nesters, a largely well-off group of Baby Boomers and older Gen Xers that are looking to change up their living situation. If you claimed last week's Friday Freebie, you downloaded a free flyer for marketing to this demographic. In this week's Friday Freebie, we're following up with a free prospect list of up to 100 empty nesters so you can send off that flyer and win more business from this niche. Free Empty Nesters Prospect List, courtesy of ProspectsPLUS! You already know that targeting affluent empty nesters is a potentially lucrative source of new business. So let's just dive straight into the good stuff: how to create and download your prospect list. Start by going to this page. And then: Scroll down to the "Demographic Mailing Lists" section and click the Build Your List button Select a targeting method: via street address, zip code, or county Select the button next to Empty Nesters Click the Search button Under the Choose Quantity section, type in 100 or a smaller number Name your list Click Add to Cart Click Checkout on the next page Add promo code EMPTYNEST100 (important!) Click Place Your Order Once you've finished building your list, a receipt will be emailed to you instantly, followed within minutes by a link to download your list. Use it how you'd like, or try something different like this 24-week targeted postcard campaign. Get started targeting empty nesters and create your FREE prospect list today!
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Multiply Your Sales by Going After Empty Nesters
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Ride the 'Silver Tsunami' of Baby Boomers
COVID-19 has changed much of what used to be considered "normal life." The future is at the top of many minds. Even when the world recovers from this pandemic and gets back to normal (or something close to it), the lessons we've learned will be forever ingrained in our consciousness. Home, family, taking care of our health -- have all become even more important. While the real estate market appears to be very much like it was before the pandemic's outbreak, with low interest rates luring buyers into the market and home values holding steady, attitudes of real estate consumers have changed. We are told to expect an exodus from the cities to the 'burbs and perhaps even rural areas. The downsizing craze is over, we're told, and homebuyers want more square footage. Outdoor spaces and specialty rooms (office, gym, etc.) are on the lists of those buyers who can demand them. Most of all, many Americans who were isolated by distance from family during the lockdown, crave closeness. Especially older Americans and most especially those who live alone. While one of the primary reasons baby boomers sell their homes is so that they can move closer to their adult children or friends (23.5% according to the NAR), we think the social distancing we've endured will see many, many more choosing this option. Boomers in the real estate market Older homeowners naturally have more equity in their homes, according to NAR's 2020 Generational Trends report. The average equity earned of sellers age 22 to 54 is nearly $45,000. Baby boomer sellers, on the other hand, have, on average, $74,300 in equity. The homes they will sell have at least three bedrooms and two bathrooms (many, however, boast three bathrooms). While on the market, boomer homes experienced far fewer price reductions than the homes of younger sellers. More than one-fourth of younger boomers have lived in their homes for 21 years or longer, while 35% of older boomers can say the same. Younger boomers who purchased another home after selling their current home chose a slightly smaller home, while older boomers, on average, chose slightly larger homes. Finally, baby boomers make up nearly half (46%) of the seller's market. How to reach this group of home sellers Boomers love YouTube. But before you race out to create real estate videos for this demographic, you need to understand that they probably won't watch them. Their use of YouTube is as a sort of TV-on-demand platform. According to data from Think with Google, the most-watched categories by boomers include "… entertainment, music, and news." The best way to reach this cohort and engage with them is on Facebook. Pursuing organic reach, however, may be futile, according to BigCommerce.com. "With organic Facebook reach hovering somewhere between two and four percent, many brands struggle to gain impressions and engagement on the platform," according to the site's Ethan Giffen. The solution, he says, is Facebook ads. Yes, they cost money. But it's one very effective way to reach the group that has a higher net worth, is most likely to want to move and sells more homes than any other. OK, so maybe Facebook ads are a bit pricey for your budget right now. Consider direct mail as a budget-friendly, highly effective alternative. This is a generation who grew up with mail as a major form of communication to friends and family. They still enjoy receiving mail and are more likely to read what they receive than the younger generations. But you need the right message To send the right message requires that you know your audience. Earlier we gave you a bit of insight into their real estate habits. But to effectively market to the group requires digging deeper. Baby boomers, by and large are: Active More internet savvy than they're given credit for Independent Not "old" In fact, dump the word "senior" when referring to this group. Use "baby boomer" or "older American" if you must. While not all are offended by the term "senior citizen," many are. Overall, they value useful information. This might include local market activity, a CMA, news on mortgage rates and helpful home maintenance tips. Get to know baby boomers' interests by visiting aarp.org, nextavenue.org, and everythingzoomer.com. To view the original article, visit the ProspectsPLUS! blog.
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5 Ways to Improve Cold Calling Real Estate Prospects
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Top 5 Real Estate Lead Magnets
Many real estate agents are unsure of the best way to capture leads. The secret actually isn't much of a secret. Across industries, marketing professionals use what's called a lead magnet to entice consumers to willingly provide their contact information. We'll explain what this tactic is and share the best real estate lead magnets that will help you grow your business.
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Friday Freebie: Prospect List of High-income Renters
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Supercharge Your Real Estate Lead Generation with Landing Pages
Having a sleek IDX website with fresh listings is pivotal for a successful real estate business. But at a time when your digital presence is so important, how can you go even further to drive more lead generation? Custom landing pages with contact forms are a smart and easy way to convert more online traffic into leads. A landing page is simply a standalone page on your website that offers something valuable to your users in exchange for contact information. (Making them super powerful lead generation tools!) Here are a few examples: Home Valuation Page Neighborhood Guide First-Time Homebuyer Course or eBook Instant Offer Coming Soon Listings Credit Repair Program Seller Lead-Specific Page A simple way to think about landing pages is that they're the final stop before becoming a lead. You cast your marketing net across all sorts of channels (digital advertising, social media content, webinars, billboards, etc.) and you need those marketing efforts to drive the lead to a "landing" spot. [Source: Unbounce] A Simple and Customized Experience Here's a little Marketing 101 Crash Course. The consumer holds the power. They can leave your site in an instant with the click of a button. And in this digital world of lightning-speed innovation, consumer demands are at an all-time high. Think about it… we order food instantaneously after browsing dozens (if not hundreds) of options. We're used to clicking targeted ads, landing on beautiful pages, and interacting with apps that we enjoy. Which means it is your job as the agent to meet those demands and exceed expectations. To build a seamless, enjoyable experience that allows you to stay competitive with the Zillows of the world. The lead journey (the experience from the first click to the final action taken) should be two things: simple and customized. So, as you're building these landing pages (and the rest of your digital presence, including your homepage and your social media channels) as yourself — am I delivering a simple and customized experience? Targeting your landing pages correctly can increase conversion up to 300%! [TrueList] How to Get Started This will look a bit different for everyone, depending on what solution you use to host/build your website. If you're using something like WordPress, Wix, or Squarespace, you can find some pretty simple guides to help you create landing pages on your own. Just make sure you include a contact form! That's the golden ticket for lead gen. If you work with a website developer or website services provider, they should be able to help you build out landing pages as well. BoomTown makes it easy to create custom content for landing pages with contact forms that are designed to skyrocket your lead conversions. With new tools directly in your BoomTown CRM, users can create sleek, customizable, targeted landing pages in seconds. Giving you the power to expand your brand, drive more traffic, improve your SEO, and send more leads into your pipeline. Discover what's possible with BoomTown! Request a demo. To view the original article, visit the BoomTown blog.
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3 Ways to Beat iBuyers and Win More Business
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Friday Freebie: Get the 'Rent vs. Own Report' to Move Renters Off the Fence
If you're looking to build a base of lifelong clients, there's no better niche than first-time home buyers. But persuading high-income renters to become homeowners can be tricky--until you put the cold, hard numbers in front of them. In this week's Friday Freebie, we're highlighting a free Rent vs. Own report that will help you do just that. Read on to claim your copy and find out the many ways you can use the report to win over new buyer leads. Free Rent vs. Own Direct Response Report, courtesy of ProspectsPLUS! Despite record low inventory and high home prices, owning a home is still cheaper than renting in most parts of the country. With this free report, you can educate renters about the real costs of renting compared to owning, and the value of building equity. You can share this report in person, via direct mail, email, and add it to your website as a download in return for an email address. Thanks to ProspectsPLUS!, all RE Technology readers can download the Rent vs. Own direct response report PDF now for FREE and keep copies available on hand. The report is completely editable, and you can even adjust the numbers as needed to better suit your local market. Follow these easy steps to download the report: Create your free ProspectsPLUS! account or log in to your existing account Visit the Reports page Scroll down to the Rent vs. Own report and select it (Tip: use CTRL+F on Windows or Command+F on Mac to search for it faster) Click Click here to edit your template Edit the template as needed (don't forget to add your headshot and contact info!) Choose the Download Only shipping option when you order your report Click Add to Cart and then select Checkout on the next page Add promo code FREEREPORT to download for free Select Place Your Order to finish, and a link will be emailed for you to download your report! That's it! Now you can target high-income renters and win more home buyer business.
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Renters Earning in Excess of $70k: The Ideal Target Market
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How to Generate More Leads with Google's Local Services Ads
By now, you're probably familiar with Google's Local Services Ads. But, if you're not, here's a quick summary: A brand-new advertising product from Google, Local Services Ads seamlessly facilitate contact from homebuyers and sellers to real estate agents in their market. They're prioritized at the top of the Google search page, above traditional paid search advertisements, and, most notably, enable prospective buyers and sellers to call an agent (via their desktop or mobile device) directly from the ad unit. As you can imagine, the premium on-page location and lack of form fills make Google Local Services Ads a game-changing addition to any agent's digital marketing repertoire. Yet, it's important to note that these ads, like all advertisements, are not a guaranteed set-it-and-forget-it lead generation product. An agent's actions can—and will—have a significant impact on performance. We'll explore what you can do to boost the efficacy of your Google's Local Services Ads below.
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Prepare Your Business for a Post-Covid Market with These Tips
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Get More Listings: Pursue Absentee Owners
As various states ease lockdown mandates and life starts to at least minimally resemble what it used to look like, the real estate market is on track to be far better than many had assumed. No, we probably won't see the fiery spring real estate markets of yesteryear, but the housing market may just prove to be the bright spot in the economy. Things have changed, however, from buyer preferences to how homes are shown. Have you vegged out enough on Netflix over the past few months or are you ready for the new world of real estate? We've found a couple of niches that we think will be especially worth your time and effort to pursue in a post-lockdown real estate market. One of these is landlords, aka "absentee owners." Who are they? "There are about 8 million individual landlords in the U.S., those who typically own between one and 10 properties," according to Diana Olick at CNBC.com. She goes on to state that these landlords "manage half the rental properties" in the U.S., with 48 million tenants. Many of these landlords bought their properties between 2012 and 2014. Sure, the big guns (institutional investors) bought then as well, but almost half of investment properties were purchased by the individual landlord – the "Mom and Pop" investor. Then, in 2018, the share of small investor activity in the housing market soared to 60%, according to Core Logic's "Home Investor Report." Most of the homes these smaller investors buy are starter homes, by the way – in huge demand in the current market, as you well know. These investors are prime targets, right now, for listing opportunities. Your audience, then, will be landlords who bought investment properties between 2012 and 2018. Their pain points The COVID-19 pandemic created a perfect storm of unemployment, closed businesses offering zero jobs to replace those lost and a government financial rescue program that isn't seeing cash flowing to landlords. Your audience of absentee owners doesn't include the REITs with numerous rental properties and quite deep pockets. Again, they're the small investors, many living paycheck-to-paycheck, just like the rest of us. Their biggest pain point right now is how, without rental income, they'll make their mortgage payments without begging for forbearance and facing a huge payment when it's all over. That is, if they qualify for forbearance. In California alone, it's estimated that 85% of tenants can't pay their rent in May, according to SpectrumNews1.com. The news site also claims that "… banks don't have an obligation to help landlords." Even if they are granted forbearance, there are other expenses involved in owning rental property, such a maintenance. Frighteningly, nearly 60% of small landlords "…said they did not have access to any lines of credit that might help them in an emergency," according to a March survey conducted by Avail, a rental platform software company. Ouch. Thankfully, you can help these people. What's in it for you? I think it's safe to say that those landlords who bought their property at the bottom of the market (after the Great Recession), and haven't borrowed against it, are sitting on a ton of equity right now. And the facts bear that out. Alcynna Lloyd at HousingWire.com claims that the average real estate investors who bought their properties in 2012 "… have seen their home equity climb by 261%." That pencils out to an average $141,000 in equity. Imagine being the one who delivers news like this to landlords who are going deeper and deeper into debt the longer the pandemic goes on. The best approach Other investors find the absentee owner niche quite lucrative. Because of this, there's a very good chance that your prospects will have received at least one "yellow letter" from an investor/flipper. The yellow letter is a direct mail piece that is either written by hand (or created to appear to be handwritten) on a sheet of that yellow, lined paper from what is often called a "legal pad." This technique supposedly brings results for these investors, which is why so many of them use it. Direct mail is the best approach to potential clients in this niche and a letter is a perfectly acceptable marketing piece – at least for the first touch. Do yourself a favor, however, and don't use yellow paper. Make your letter professional and valuable. The first step to take when approaching this niche, however, is to determine which area of town you'll farm. Then, order an absentee owner list. If you decide you don't want to use a letter to introduce yourself, there are several other approaches to consider: An Absentee Owner Series postcard (the easiest way). A CMA (include a photo of the home's exterior in the letterhead to make it super impressive). Our Absentee Owner Direct Response Report, "Advice For Cash Strapped Landlords." After you've decided on the medium for your introduction, all of the above are well-suited as follow-up material. Which brings us to the next step: Schedule a direct mail stay-in-touch campaign. It doesn't matter if your "touches" are monthly or quarterly, as long as they are consistent. Don't give up if you don't hear back from these prospects after the first few mailings. Right now, many absentee owners are second-guessing their role as a landlord. Many are quite motivated to get out from under the financial burden. Their pain points are very real, very urgent and you offer the ideal analgesic: sell now. To view the original article, visit the ProspectsPLUS! blog.
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7 Ways to Get More Seller Leads in a Tight Market
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3 Ways to Get More Leads in 2021
If you haven't already done this, I'm betting you're pretty close. Just like people got addicted to, and subsequently stopped complaining about, how the pandemic was 'unprecedented' and working from home became 'the new normal,' I think we're ready to leave all of the '2020 complaining' behind us. 2021 is going to be a great year, and there's no time like the present to start taking advantage of the opportunities we'll find. Part of what is going to make this year so great is that we've got a fresh chance to take stock of the best ways for us to fill the real estate sales funnel. Listings are the lifeblood of real estate. And absolutely no one enjoys enduring feast and famine routines as they try and build sustainability into their business. To gain—and maintain—momentum month after month, we need to have in place some solid practices around listings and lead generation. Tips and Tricks Unless you've got homeowners or corporate real estate managers beating down your door every month, or leaving new business on your doorstep, give these tips and tricks a try. Cultivating listings takes effort, but there's also no reason to reinvent the wheel. 1. Top 50 Contacts Neighborhood networking and sphere of influence marketing is essential for every real estate agent. This is the easiest thing to do because you're simply reaching out to, and catching up with, people you already know. Quick conversations with your HVAC rep or your brother's cousin in the mortgage business are a fantastic way to keep your ear to the ground and stay top-of-mind for your contacts. Routinely (quarterly, every six months, or whatever makes the most sense for that person) offer to buy lunch, or grab coffee, or send a quick 'thinking of you' card. Those 50 people know 50 other people, and so on. Keep them close and happy and talking. 2. Social Outreach Include social media and real estate postcard campaigns. These are still a great way to get your name out there and to stay in touch with prospects, but it can take time to design and distribute. The advent of apps like Instagram and Snapchat provides you with a platform to instantly send a picture of a property, an open invitation to view your newest listings, or to show off your wonderful and hardworking team to the world. But don't just jump out there on your own if you're not skilled or confident. Make sure you've got the right approach, put some thought behind your postings, and remember that your brand is on full display once you hit 'Send' and especially when/if you comment on anything. 3. Help Distressed Homeowners It might not seem like it at first, but distressed homeowners could be a great way to find new listings. Homeowners behind on their commitments want to avoid declaring bankruptcy and foreclosure, if at all possible. One of the lingering effects of 2020 on homeownership is that there are bound to be folks who need the kind of help of a real estate professional to get out of their current home and into something they can more easily afford. That could be a true win/win situation and you could get started with a couple of simple online searches.
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How Do Most Clients Find You? Why It's Vital to Stay Top-of-Mind
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Get More Listings with the Right Seller Services
Most real estate agents know that staged homes sell faster and for more money. Some, however, go beyond merely suggesting staging to their listing clients. Rather than lay the burden of staging on their clients, these agents bring in a staging team, at no expense to the homeowner. What seller services do you offer? Does that list on your real estate website include the usual? "Complimentary home value analysis!" "Open Houses and Broker Tours" "Your home will be entered into the MLS" "Your home will be featured on our website" "Place a distinctive [name of brokerage] for-sale sign on the property" "Active promotion to my expansive network" "I will bring the buyers to you" (for more information on how to do this by becoming a Market Maker, watch this video) These are actual "Seller Services" offered by agents on their websites. If you are tired of not getting the listing and want to truly offer value, thereby standing apart from the crowd, it's time to change things up. Read on for some tips. Complimentary Pre-Sale Home Inspection As you know, when a problem is unearthed by the inspector, the entire transaction is at risk. Why not be proactive and head off as many challenges as possible before putting the home on the market? Offer your listing clients a free, pre-market home inspection. Yes, some agents balk at the idea, claiming that the inspection now becomes a disclosure item. And that's true. The flipside to this is that the items on the pre-sale inspection list will most likely show up on the buyer's inspection report as well. A pre-market inspection allows the homeowner to make the repairs that the lender or buyer will most likely demand. If for some reason your client can't or won't make repairs, you'll have the time to determine upfront how to deal with repair requests and to have that heart-to-heart about lowering the asking price. Professional Photography I don't need to tell you that there are far too many agents out there who are still snapping listing photos on their smartphones. Since the first showing of a home typically happens online, it's needs to be ultra-compelling. We know many successful agents who have left the old ways behind and offer the services of a professional photographer to snap the marketing photos. Yet, that service isn't listed on any of the websites we researched for this blog post. Virtual Tours Over the past few months, the popularity of 3D tours has outpaced other types of virtual tours, including video. In fact, a recent study by the NAR claims that "Consumers Strongly Prefer Listings With 3D Tours." Here are a few other things you should know about virtual tours: "About 55% of survey respondents say they'd even consider buying a property sight unseen if there was a 3D tour available in the online listing." (NAR) Agents who use 3D tours in their marketing of listings sell them 20% quicker and for 9% more than agents who don't use them. (Matterport survey) Almost 80% of real estate consumers say they would switch to a real estate agent who offers 3D tours of homes for sale (Matterport survey) Consumers are demanding more than a video of a home's interior. They want the ability to virtually tour homes without someone else deciding what they can and cannot view. If other agents in your market offer this service and you don't, the chances are pretty good that you won't get the listing. Do yourself a favor and earmark some marketing dollars for at least one, true, seller service in 2021. To view the original article, visit the ProspectsPLUS! blog.
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Your Script to Cold Call Landlords During COVID
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3 Key Strategies to Generate More Real Estate Leads and Fill Your Pipeline for Months
To be successful in real estate, you must be forward-thinking. Too often agents are caught up in the short term (closing deals or looking for ready-to-transact leads) and forget or de-prioritize building a pipeline long term. Today's efforts will yield tomorrow's clients. By keeping your marketing engine running 24/7, you'll generate new real estate leads that you can nurture into future clients.
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6 Ways to Get More Seller Leads
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10 New Lead Sources to Explore Before New Year's
Consistently generating new leads is one of the most important tasks real estate agents must master to be successful. Most experts recommend nurturing at least 3-5 different lead sources to fuel your business. Here are ten lead sources you should explore for the new year that may help you reach your business goals.
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[Best of 2020] 10 Thank You Notes That Will Generate Business
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7 Real Estate Workshop (or Webinar) Topics that Generate Leads
Hosting a real estate workshop or webinar will inform a lot of buyers and sellers while they decide if they want to buy or sell a home. The goal of your real estate seminar is to educate and inform people while asserting yourself as a real estate expert and guide. As part of your presentation, make sure everyone leaves with your information and give them important content that will guide them through their buying or selling journey – whichever applies to them. If someone is farther along their real estate journey, give them homework and a list of steps to complete to reach the next phase of their journey. Finally, ask past clients to invite their friends and promote your seminar. Here are seven examples of real estate seminar topics:
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Generating Listings: Ninja Style
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Working the Referral Game: How to Get Your Clients Producing Your Next Best Lead
Research from the National Association of Realtors shows that clients don't shop around and 75% of buyers and sellers contact or interview only one agent. A referral, therefore, is the surest way to be that first and only agent that a client contacts. In fact, Outbound Engine has found that successful agents get up to 75% of their business from referrals. Agents know that people trust direct referrals from their family and friends. But, many fail to capitalize on this because they either don't know how to ask, or when and how to ask someone without seeming self-centered or desperate. Here's how you can change that, and successfully ask your best clients for referrals.
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The Latest Trends in Team Software
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Growing Your Team Business with Productivity Software
The following is an excerpt from RE Technology's Success Guide to Team Software: Operating a team is pretty similar to operating a brokerage. The advantage that teams have over brokers usually relates to having more influence over the activities of the team. Quite frankly, beyond compliance related activities, most brokers have little or no control over how agents operate. Teams come in all shapes and sizes, but one shared commonality is a unified approach to how they operate and how they provide services to clients. For example, some top producing agents focus on listings, often carrying an inventory of 10 or more listings. At that rate, it is hard for the listing agent to also take on buyer clients. So, they create a team of buyer's agents to respond to leads generated on their listings, both digital and from yard signs. The biggest concern by the listing agent is the effectiveness of buyer's agents at converting those leads to grow the business. Another key common element between these team solutions is buyer and seller lead tracking paired with powerful follow-up actions that generate business. More than anything, these platform solutions offer the team leader the ability to empower team members with great follow-up software while simultaneously evaluating the strengths of team members converting opportunities into business. Another prevalent feature of these platforms is a focus on lifetime relationships with every client in the database. With the entire team able to see what the last touch was with the customer and how they responded to it, this component creates continuity with client engagements, driving home future repeat business and referrals. For too long, real estate teams have primarily targeted new business generation while allowing existing customers to stray from insufficient relationship maintenance. All of the tools in this year's Teams Success Guide facilitate collaboration between you and your team, helping your customers receive the best possible service. These platforms are proven to help you stay organized. You will be able to run reports on the effectiveness of your team members and have visibility into their activities. Each of these companies invest in dedicated staff members who deliver awesome support resources, ensuring that your team maximizes their productivity when using these platforms. But remember, you must make sure that your team of agents and staff attend those trainings and maximize the features of whichever platform you choose. Download Success Guide: Teams to learn more about Team software trends, how to evaluate Team software, and more.
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A New Strategy to Unlock Local Inventory and Win the Listing
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How to Find a Lead With Only Their Name and Email Address
Your phone receives a notification while you're driving home from your brokerage. *Beep* *Beep* It's a lead alert! You start feeling excited as you press the notification. To your dismay, the lead you just generated only left their name and email address. This isn't new for you. In fact, it happens far too often. With shattered expectations, your excitement turns to an emotion best represented with the onomatopoeia, "meh." There's nothing you can do with just an email, right? Wrong! You couldn't be further from the truth. In this article, I will show you how to gather more information such as a full name, address, phone number, and more from a lead that only leaves their email address.
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The Ultimate Guide to Geographic Farming
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9 Ways to Use Social Media to Make Your Website a Better Lead Engine
Social media is a powerful marketing tool for all types of businesses--the real estate industry is certainly no exception. Studies show that sales associates are consistently among the most active on most social media platforms. The National Association of REALTORS® reports 77% of real estate professionals use social media marketing in some form for their businesses. Over 80% of online users are active on Facebook. As a sales associate, you understand the significant impact social media has on building trust with your clients and generating leads for your business. Social media is unbeatable when it comes to driving traffic to your website and turning those visitors into leads. You can use social media channels to promote your brand and your listings. It's an essential part of your marketing strategy that helps you connect with your targeted audience, where they spend a good deal of their time. It also enables you to cultivate long-term relationships with current clients, past clients, and future referrals. When you incorporate social media channels into your marketing strategy, you're inviting people to your website right when they need you. Many people find it tough to uncover the best ways to use social media for growing their business. This can lead to their social efforts falling by the wayside after an initial burst of enthusiasm. Here's how to make social media an asset for your real estate website: 1. Choose the Best Social Channels for Your Brand Each social media website has advantages. For example, Twitter is terrific for connecting with people in your community because anyone can see your posts. Facebook tends to be effective for cultivating connections with your past and current clients. Instagram is ideal for real estate photos, and LinkedIn can be superb for those specializing in luxury and commercial properties. 2. Share Plenty of Amazing Photographs and Videos Real estate is visual: People need to imagine living in a home before they will truly be enticed by it. Facebook and Instagram, in particular, offer lots of opportunities to share your best real estate photography. 3. Introduce Virtual Tours and Open Houses for Your Active Properties With buyers and sellers looking for alternatives to in-person showing, social media has a chance to shine. A virtual showing can come in the form of a guided video tour of a property or even an interactive, panoramic experience using still photos of each room. Sharing this compelling multimedia content gets prospective buyers off the fence and onto your website. 4. Make Your Blog the Cornerstone of Your Social Strategy Most of your future clients will find you online. Not only that, but going online to check out local listings is often a buyer's first step. Your blog can help. By sharing helpful, informative articles on real estate trends, you guide leads through the whole process. Since they recognize your expertise, they are more likely to choose you when they enter the market. 5. Use Automation to Your Advantage for Better Consistency Some business owners sink hours a day into social media when they first get started. Automation helps you stay focused on high-value tasks. The right automation tools will allow you to pre-write your social media updates and post them when your audience is active. You can also instantly share your listings, reviews, testimonials, blog posts, and videos. 6. Promote Your Best Reviews and Testimonials on Social Media Social proof is one of the most potent ways to get attention from future buyers and sellers. 7. Create Opportunities for Interactive Conversations Social media isn't just for brands to talk "at" their customers. Two-way conversations are key to building relationships. Monitor mentions of your brand, relevant hashtags like #RealEstate, and news about your community being shared on social media. This helps you find others who can benefit from your expertise. And, of course, always respond to any replies to your social posts! 8. Use Industry Hashtags to Make Your Content Discoverable Social media is a wide world, and you want your content to be discoverable. Hashtags make it happen, clarifying the subject of your posts, so they show up in search. Always include 1-3 hashtags like #JustListed, #DreamHome, #ForSale or #PropertyWatch. 9. Absorb the Lessons of Analytics to Use Your Time Wisely Analytics software gives you information about your social media following, how people find you, and what content they're interacting with. Virtually all social platforms now have their own analytics, though they may only be available to active advertisers. By checking your analytics weekly, you can learn which posts are popular and tailor your content accordingly. Many sales associates jump into social media with both feet, only to be disappointed by their results. Early setbacks can conceal social media's power, but marketing automation unlocks it. Social media marketing done correctly helps you zero in on your community members ready to buy or sell, then earn their trust. You can reach great results and have the work-life balance you deserve. Not getting your copy of Delta Media Group's magazine, Real Estate Marketing & Technology? Sign up today. Your subscription is FREE. To view the original article, visit the Delta Media Group blog.
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20 Real Estate Lead Generation Ideas that Work
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7 Ways to Simplify Your Real Estate Website to Increase Lead Generation
Marketing and psychology go hand in hand. As a real estate professional/marketer, you've probably asked yourself why consumers behave a certain way or why someone does the things they do. For example, a lead that doesn't do research because they rely on you, an inspector that misses the attic because it's probably good, or an agent that doesn't persistently follow up with a lead because it isn't good. Many of these behaviors are caused by human's natural tendency to choose the path of least resistance. People want to take the easiest route that uses the least amount of thinking and energy.
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The Ultimate Zoom Playbook for Lead Generation
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Top Producer Reveals Secret to Direct Response Farm Marketing with RPR
The following is an article from Trang Dunlap, a REALTOR from the San Francisco Bay Area. She uses RPR to market herself and to farm for new prospects, all while saving herself time and money. Read on to learn exactly how Trang leverages RPR to gain new clients. Systematic Farming Using RPR and Direct Response
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Friday Freebie: The 'Secret Sauce' to Online Lead Generation
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Are You Working Too Hard to Get Easy Leads?
Are you uncomfortable asking people you know for leads? You're not alone! The most convertible leads come from people who know, like and trust you. Warm referrals at the time of highest need are the easiest and often most successful type of referral. The trick is to help your raving fans keep you top of mind when someone expresses their plans to buy or sell real estate. How can you help them help you?
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Open House Attendance Down? 6 Ways to Attract Interested Homebuyers
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Friday Freebie: Lead Generation and Marketing Budget Calculator Tool
Has your real estate sales funnel been derailed by COVID-19? How about your budget? Everyone's been thrown a bit off by the pandemic, and most of us need to reevaluate the goals we set for ourselves at the beginning of the year. If you need help getting back on track, this week's Friday Freebie is for you! Free Lead Generation + Marketing Budget Calculator tool, courtesy of Zurple We've said it before, and we'll repeat it again: A goal without a plan is just a wish. And to create a solid plan, you need to crunch some numbers. Or, in this case of today's Friday Freebie, let this free budget and lead generation calculator do it for you. Zurple is offering RE Technology readers a free tool that lets you set your desired gross commission income goal, and then see how many leads and closings you'll need to reach that goal. This tool also calculates the marketing budget you'll need to meet your goal, factoring in various individual lead generation sources, like your website, digital ads, referrals, email, social media, and more. Zurple's Lead Generation and Marketing Budget tool helps you: Estimate the amount of leads and closing required to hit your Gross Commission Income (GCI) goal based on the national average and your historical conversion rates. Projects your marketing expenses based on your conversion rates so you can budget appropriately. Track your lead generation results so you can compare them to your goals. Ready to get your 2020 goals back on track? Download Zurple's FREE Lead Generation + Marketing Budget Calculator tool now!
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5 Steps to Build Out Your Real Estate Mobile and Text Message Marketing Strategy
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How to Use Video to Increase Conversions: 4 Templates for Real Estate Agents
According to Cisco, 82% of internet traffic will be video by 2022 and 90% of consumers state that video helped them make purchasing decisions. In fact, people watch one billion hours of YouTube videos every day, which is more than Netflix and Facebook video combined. If we take this into consideration when talking video marketing, YouTube videos are the best thing for your real estate business. The next big question is how to produce the kind of content that will not only drive your leads to action, but help you generate new leads. There are a few tested and approved methods for video marketing that could be freely used for real estate services.
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Want More Listings? Call Your Database and Ask These 4 Questions
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5 Ways to Lose a Lead Real Quick
Leads are the lifeblood of any business. Period. Whether you are communicating to a lead or client, both should be given the same amount of attention. If a prospect was recommended to you, found you online or heard about you by way of word of mouth, the clock has started for you to make them feel comfortable in helping them with this major transition in their life. You might think that mishandling a new lead is a short term problem, but if it's consistent, putting a band-aid on it will only make the same issues persist down the road – damaging your reputation and your business referrals.
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The Ultimate Guide to Facebook Lead Ads for Realtors
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Are Your Listing Photos Costing You Leads?
NAR reports that, in 2019, a whopping 93% of home buyers and sellers turned to the internet to help with their home search. With so many potential prospects looking at your listings and digital ads, there's no room for error in how you present properties. Above all else, consumers are taking a critical eye to each property photo. Buyers are determining whether your listing is worth their next step, while sellers are assessing your marketing abilities based on how you present your active listings and how attractive your listing ads are.
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5 Things Every Real Estate Website Should Have
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Your Real Estate Blog: How to Turn It into a Lead Magnet
No matter where you live in the United States, most people will find your real estate business online. One of the best ways to take control of your real estate brand is by blogging. A blog is a gold standard for generating traffic, leads, and building relationships. Blogging keeps you top-of-mind with your readers while it positions you as an expert through helpful, informative content. Also, when you blog regularly, you benefit from an SEO standpoint. Google favors websites with relevant, unique, and engaging content.
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Warm Up Cold Real Estate Leads with SMS Texting
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Converting FSBOs to Clients: 4 Tips
Homeowners who attempt to sell their homes on their own (FSBOs) may seem like lost causes. They often have many objections to listing with an agent, with the forerunner being the cost of commission is too high. Truthfully though, they are an underestimated potential client base, and converting FSBOs to clients could just push you over your sales goals this year. It is difficult to build a relationship with someone who wants nothing to do with your services, but that needs to be your focus. FSBOs will not be easy to recruit, so building a meaningful, trusting relationship with them over time is your best bet to successfully convert them to a client. Follow the tips below in order to learn how to foster these necessary relationships, and eventually make them profitable.
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It's Not About Luck: 6 Ways to Maximize Leads and Entice Buyers
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How to Build an Income-Producing Referral Business
Imagine having a business where most of your income comes from people you know. That is the dream of many new and seasoned real estate agents. And it is not only possible, it is achievable. Real estate is an essential business built on relationships, and your database is your goldmine. By following the suggestions below, you can begin learning the skills to effectively communicate, network and grow your business. The incredible results will be a business that is built on referrals. This means increased revenue and a solid business that is continually expanding. Get ready to start mining. Your road map to success begins here. It all begins with who you know.
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The 5 Best Real Estate Cold Calling Tips
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Get More Listings: Pursue Absentee Owners
As various states ease lockdown mandates and life starts to at least minimally resemble what it used to look like, the real estate market is on track to be far better than many had assumed. No, we probably won't see the fiery spring real estate markets of yesteryear, but the housing market may just prove to be the bright spot in the economy. Things have changed, however, from buyer preferences to how homes are shown. Have you vegged out enough on Netflix over the past few months or are you ready for the new world of real estate? We've found a couple of niches that we think will be especially worth your time and effort to pursue in a post-lockdown real estate market. One of these is landlords, aka "absentee owners." Who are they? "There are about 8 million individual landlords in the U.S., those who typically own between one and 10 properties," according to Diana Olick at CNBC.com. She goes on to state that these landlords "manage half the rental properties" in the U.S., with 48 million tenants. Many of these landlords bought their properties between 2012 and 2014. Sure, the big guns (institutional investors) bought then as well, but almost half of investment properties were purchased by the individual landlord – the "Mom and Pop" investor. Then, in 2018, the share of small investor activity in the housing market soared to 60%, according to Core Logic's "Home Investor Report." Most of the homes these smaller investors buy are starter homes, by the way – in huge demand in the current market, as you well know. These investors are prime targets, right now, for listing opportunities. Your audience, then, will be landlords who bought investment properties between 2012 and 2018. Their pain points The COVID-19 pandemic created a perfect storm of unemployment, closed businesses offering zero jobs to replace those lost and a government financial rescue program that isn't seeing cash flowing to landlords. Your audience of absentee owners doesn't include the REITs with numerous rental properties and quite deep pockets. Again, they're the small investors, many living paycheck-to-paycheck, just like the rest of us. Their biggest pain point right now is how, without rental income, they'll make their mortgage payments without begging for forbearance and facing a huge payment when it's all over. That is, if they qualify for forbearance. In California alone, it's estimated that 85% of tenants couldn't pay their rent in May, according to SpectrumNews1.com. The news site also claims that "… banks don't have an obligation to help landlords." Even if they are granted forbearance, there are other expenses involved in owning rental property, such as maintenance. Frighteningly, nearly 60% of small landlords "…said they did not have access to any lines of credit that might help them in an emergency," according to a March survey conducted by Avail, a rental platform software company. Ouch. Thankfully, you can help these people. What's in it for you? I think it's safe to say that those landlords who bought their property at the bottom of the market (after the Great Recession), and haven't borrowed against it, are sitting on a ton of equity right now. And the facts bear that out. Alcynna Lloyd at HousingWire.com claims that the average real estate investors who bought their properties in 2012 "… have seen their home equity climb by 261%." That pencils out to an average $141,000 in equity. Imagine being the one who delivers news like this to landlords who are going deeper and deeper into debt the longer the pandemic goes on. The best approach Other investors find the absentee owner niche quite lucrative. Because of this, there's a very good chance that your prospects will have received at least one "yellow letter" from an investor/flipper. The yellow letter is a direct mail piece that is either written by hand (or created to appear to be handwritten) on a sheet of that yellow, lined paper from what is often called a "legal pad." This technique supposedly brings results for these investors, which is why so many of them use it. Direct mail is the best approach to potential clients in this niche and a letter is a perfectly acceptable marketing piece – at least for the first touch. Do yourself a favor, however, and don't use yellow paper. Make your letter professional and valuable. The first step to take when approaching this niche, however, is to determine which area of town you'll farm. Then, order an absentee owner list. If you decide you don't want to use a letter to introduce yourself, there are several other approaches to consider: An Absentee Owner Series postcard (the easiest way). A CMA (include a photo of the home's exterior in the letterhead to make it super impressive). Our Absentee Owner Direct Response Report, Advice For Cash Strapped Landlords. After you've decided on the medium for your introduction, all of the above are well-suited as follow-up material. Which brings us to the next step: Schedule a direct mail stay-in-touch campaign. It doesn't matter if your "touches" are monthly or quarterly, as long as they are consistent. Don't give up if you don't hear back from these prospects after the first few mailings. Right now, many absentee owners are second-guessing their role as a landlord. Many are quite motivated to get out from under the financial burden. Their pain points are very real, very urgent and you offer the ideal analgesic: sell now. To view the original article, visit the ProspectsPLUS! blog.
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The Time Is Now to Supercharge Your Database
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3x Your Lead Generation ROI with These 5 Tips
It's no secret that leads are the lifeblood of your real estate business, but they are also a source of frustration. Agents often question the ROI on their lead spend, blaming the quality of the inbound leads when they don't convert, instead of looking at the user experience the lead undergoes from the moment it's received. Here are some tried and tested tips to ensure that every lead in your pipeline receives a meaningful, relevant experience and that you will nurture and convert on a much higher percentage. 1. Evaluate Lead Source vs. Monthly Production Do you know where the bulk of your past business came from? Use this handy spreadsheet to backtrack over the past 12 months to determine where your business originated (e.g., referral network, social media advertising, PPC lead generation, etc.) and make sure you are putting ad spend into the channels that produce. 2. Use a CRM A CRM (Customer Relationship Management) is a necessity to effectively manage every stage of your lead's lifecycle. A comprehensive CRM will allow you to keep detailed lead records, prompt outreach and follow-up, and provide valuable insight into every step of the sales process. I recommend an end-to-end solution like Elevate, which provides one singular location for everything you need without requiring convoluted (and pricey) 'bolt-on' technology. 3. Create Marketing Workflows For every $1,000 spent on lead generation, an average of $10 is spent on lead nurturing and follow-up. I assure you that many times it's not the quality of the lead that's the problem, it's the quality of the follow-up! A good workflow will allow you to automatically connect with your leads in a timely manner, while prompting you to take meaningful action along the way. Your workflow should include telephone / text outreach, email, social media connection, and even direct mail (a handwritten note goes a long way). Communication should feel personal and relevant to whatever stage of the process your lead is in, and you should receive analytics on engagement behavior (e.g., opens, clicks, responses) where applicable. Once again, a strong end-to-end CRM like Elevate will have pre-built workflows and communication tools built in that you can easily customize. 4. Touch Frequency Statistically, it takes anywhere from seven to 13 touches to convert a lead into a qualified opportunity, so when you are developing your marketing workflow, be sure to touch your leads early—and frequently. I develop marketing workflows for many brokers and agents, and generally will start with 27 touches over 30 days, with 14 of the touches occurring in the first seven days. Sound like a lot? It is—and it works! 5. Be of Service The real estate agent who's just there to sell will NOT have as much success as the agent who's there to be of service. When developing your workflows and touchpoints, make sure you include helpful resources, personal insight and local 'goodies' as part of your communication process. This helps build rapport and drives higher engagement with your leads. I always enjoy buying from someone that I actually feel connected with, don't you? I know, I know—taking the time to learn a CRM and build meaningful, intelligent workflows is not why you went into real estate. Trust me, though—the time you spend putting these strategies in place will be well rewarded. You will have greater efficiency, happier clients, and increased ROI on your lead generation dollars. Happy selling! Bondilyn Jolly is a tech entrepreneur, investor and business leader. She currently serves as the VP of Marketing at Elevate and the Managing Partner of 3sixtyfive.agency, a full-service digital and creative advertising agency servicing the real estate sector and beyond. Bondilyn and her team work with brokers, agents and companies to build unique, memorable marketing experiences both online and off.
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Learn How to Win New Listings During COVID-19 by Delivering a List of Qualified Buyers
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10 Things to Do When you Receive a Referral
There are 10 things you ABSOLUTELY must do each and every time you receive a referral to ensure you get more and more referrals each and every year, month, week, and even day. Here's what you do each time someone sends you a referral: 1. Call the referring person immediately to say THANK YOU for the new referral. Ask if there is anything special you need to know about the referral. 2. Call the NEWLY referred person THE MOMENT (or at least within five minutes) you hang up the phone with the person who sent the referral. Set an appointment immediately. DO SOMETHING to make sure you are connecting with your new contact. Whether it be face-to-face or not, show initiative. 3. Add your new referral to your CRM system AND your Client Appreciation program (If you don't already have a client event Client Appreciation Event Marketing program, check out our blog post, Client Appreciation Event Marketing). Makes sure to tag/note who referred them. 4. Set up a follow-up call with your new referral. It never hurts to check in with them to see how things are going. Use the following script: "I just want to make sure I'm not dropping the ball on my end!" 5. Send a video text message! Limit it to 10-15 seconds in length. You should make two videos: "Thank You" to the referrer "Thank you" to the referree 6. Send a personal, handwritten note to the referrer. Include a client appreciation gift, such as a $5-10 Starbucks gift card or a gift card of your choosing. You want to make sure you reward the act of sending the referral. Whether the referred person ever does business with you or not is irrelevant at this point because it is not their job to make sure that the person does business with you. You want them to simply send you the referral, and you should be able to take care of the rest. 7. Send a personal, handwritten note to the person being referred. You will want to thank them, introduce yourself again, and make sure they know how to contact you. 8. Create a Facebook video and tag the person who sent the referral. Thank them for referring their friends and family. DO NOT tag the person referred unless you have permission to do so. 9. Send professionally made gourmet cookies (or something similar) to the office of the referrer. You want to make a big deal about it. Make it a day they'll never forget! Go big with balloons! Coach Michael Hellickson suggests CookiesByDesign.com. 10. In your "Friends Referring Friends" section of your newsletter, include both names, giving credit, and thanks to the person who sent you the referral. (If you don't already have a newsletter, you MUST read our blog on the "Perfect Real Estate Client Newsletter.") After much time, effort, energy, and money is invested in generating referrals, many agents drop the ball with a referral and the person who sent it. Don't be that agent! Follow this list closely to ensure the best possible chance of doing business with the referral, and to cultivate additional referrals from the referring party. Bonus: Contact the person who sent you the referral upon closing to thank them once again. A phone call works best here! As our way of saying thank you for taking the time to read this blog, we invite you to a FREE 55-minute NO PITCH one-on-one coaching call with a Club Wealth® coach! Request a strategy session here. To view the original article, visit the Club Wealth blog.
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The Time Is Now to Build Up Your Prospecting Muscles!
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How to Set Up Facebook Instant Replies to Convert Real Estate Leads
Did you know that it is a really simple process to convert a Facebook follower into a real estate lead? Being able to generate business from a Facebook page is an equation that agents are always trying to crack. If you read further, we provide you with some information that not many agents know about. Automating Facebook Messenger to Feed You Leads
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The 5 Best Real Estate Cold Calling Tips
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How to Write a Strong Call-to-Action and Convert More Real Estate Leads
Words matter in real estate. The message you craft for leads will determine how many convert. If you are not seeing the sales figures you need, you may want to take a look at your call-to-action on Facebook and other platforms. What Is a Call-to-Action? A call-to-action (or CTA) is the part of your marketing that encourages your leads to do something. It's the phrase or sentence that tells readers to "sign up," "get started," or "download a free trial." This sentence has outsized importance in marketing because it is the one most closely linked to action.
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So You Want to Generate Leads...
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Friday Freebie: 6 Downloadable Reports for Connecting with Prospects
While we all may be stuck socially distancing for a while, there's still ample opportunity to connect with real estate consumers. The trick? Offer something of value… like these six free reports. (And with legions of people stuck at home right now, there's no better time to offer good reading material.) Read on to find out how you can claim these brandable, downloadable reports for yourself! Download these 6 free reports, courtesy of ProspectsPLUS! Now's a great time to build up your database—and one of the best ways to do that is to offer something of value to online consumers. Just set up a landing page that offers to send one of these reports to consumers in exchange for their contact information. (And then be sure to add them to your CRM and to the appropriate drip marketing campaigns.) You can also mail the reports to consumers. In fact, ProspectsPLUS! even offers suggestions for mailing frequency and follow-up postcard campaigns for each report. And when things finally return to some semblance of normal, these reports make excellent printed pieces to distribute at open houses or leave behind after listing presentations. These reports come as downloadable PDFs and are easy to add your name and contact information to. They target a variety of audiences, too—sellers, expireds, FSBOs, cash buyers, and more. Here are the reports that ProspectsPLUS! is offering for FREE to RE Technology readers: How to CHOP $24,000 & 4 Years OFF Your Mortgage Merchandising Review BusinessBASE™ System for Building Your Book of Business For Sale By Owner First Aid Cash Buyer Checklist Five Keys to Selling Your Home Sooner Download these six reports now and start connecting with prospects today!
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