Posts in category: Uncategorized

So many luxury real estate marketing professionals attempt to differentiate themselves from their competition by claiming that they have integrity in their advertisements. The majority of real estate professionals who have enjoyed longevity in their field have integrity or they would not still be in the business. And, those few unscrupulous ones are often the ones who use the “I” word in their collateral material and ads.

Integrity is just the price of admission in the highly competitive landscape of marketing luxury real estate. Those who have achieved market leadership in their area simply could not survive at the top f integrity were not a fundamental building block of a highly successful practice.

The urge to be less than forthright, up-front, straightforward and frank with ones clients comes from a scarcity mentality. That is, the idea that there are not enough clients and, therefore, not enough business to meet ones income goals. This is small thinking!

At the core of this scarcity mentality and small thinking is simply a small contact database of potential referral sources. Believing that there is not enough business causes people do things they would not do if there was plenty of business.

Four Ways to Think Big and Get Prosperous While Maintaining Your Integrity

To build a thriving practice while maintaining your integrity it is necessary to set the ethical standards of integrity for yourself that you would expect of a very competent and highly success professional. Think of someone in your profession that you respect and set the goal to emulate that person’s level of integrity.

Here are the four best ways to start thinking big with integrity:

• Extrovert! Get out of your office and meet more people. Build a huge database of potential referral sources. Get over your shyness. The most successful professions have figured out a way to overcome their shyness.
• Delegate! It becomes easy to hide behind the excuse that you do not have enough time in a day to accomplish what you want and still have a life. Delegate everything you can possible think of to an assistant or virtual assistant and free up more time to meet more people. Build a huge contact database. Just about everyone is shy and lazy when it comes to meeting new people. Successful people overcome this obstacle to success.
• Expand! Exponentially expand the boundaries of your marketplace.
• Stay In Touch! Keep in touch with your expanded database of contacts.

This is part of a series of articles entitled, Luxury Real Estate Marketing Essentials. It is dedicated to luxury real estate marketing professionals worldwide.

Frequently sellers insist that their agents put ads in the local paper. Is this means of advertising still legit? While newspapers are still running For Sale and Open House ads in the paper, these sections are not what they used to be a few years ago. Buyers just aren’t utilizing the newspaper classifieds like they used to.

Reasons? Here are two reasons that I’ve come up with based on what I’ve seen and done. First, newspapers have a definite shelf-life. Newspapers are very current and only last for that day. If you don’t see the paper on a given day, chances are you will not see it at all, unless you take a trip to your local library or newspaper archive. And who looks for a new house in their newspaper archive? Online advertising, however, has a much longer applicable period. With good search engine optimization, a single site can draw many visitors…for as long as you keep the site up. I’ve heard agents say that they sometimes get inquiries after a home has sold as the website is still live.

Second, if I were looking to purchase a home, I would want as much information about the property as I could find. A newspaper ad might show a photo of the home (if that) and the basic details: bedrooms, baths, sq. ft., etc. The internet allows Realtors to put up a multitude of information about a listing, and allows prospective buyers a chance to “see” the property virtually through photos and 360° panoramic shots.

Having said all that, sometimes print ads are beneficial. Occasionally, newspapers run special sections just for real estate ads, open houses, etc. and you can reach a large, targeted market that way. A person who typically doesn’t search the paper for real estate will purchase the paper on that day for the special section.

So, when you do create a print ad, whether for a newspaper or a magazine, here are some things you definitely want to do:

• Address: Make sure to give the address of the home in the ad. If you have a website URL that is the house address, use that here….double duty!
• Photo: At least display an exterior shot of the house, and a good one of the inside if you can.
• Description: The room for a description is rapidly shrinking, but at least get the vitals (bedrooms, baths, sq. ft., etc.) in. A good sentence incorporating a key selling point or two is ideal.
• Price: Be open and honest about the listing price of the home. Hiding prices to force folks to contact you isn’t worth it.
• Contact: Of course you want your name and phone number. But make sure your website is there too!

For my part, if the above information isn’t in an advertisement, I won’t bother to look any further. In doing research on a property, buyers want to know where it is (address), see it (photo), know how much (price), and learn more about it (website). The rest is just icing on the cake.

The Real Estate business… what could be less online oriented? Sure you can look at pictures, but your clients have to see the home, walk around, get the feel of the place. How can Social Marketing tools help you there? What’s Facebook or Twitter got to do with selling property?

Lots!

Every real estate professional knows that selling homes isn’t about buildings, it’s about people. And between advertising and networking, the pros spend 50-75% of their time trying to reach and interact with them. Present clients, potential clients, and past clients form the core of a realtor’s social network. Naturally, every active agent wants that network to grow.

But how?

Even at the most basic level, a site like Facebook lets you reach out to, contact, and interact with many more people than you could ever see face to face. It simply has a wider reach even than your phone. Something as simple as creating a Facebook Page instantly puts you in the pool where you can swim with lots of others.

Expand your web presence and build an online community through Twitter and Facebook Pages for your business. Then reach out. Explain what you do, and do it in a way that shows your Facebook Page fans how you can help them. It’s not about you, but your clients.

Hit that theme in a dozen ways. Create a Poll to find out their biggest gripes when shopping for a home. Post relevant news stories, offer photos, use the discussion board to generate buzz. Let everyone know about upcoming events.

Nothing wrong with self-promotion, though, done the right way. Tell your Facebook Page fans how you just closed a deal and made a young newlywed couple ecstatic over owning their first home. Talk up your town, about how it has unique features. If it’s made a Best Places to Live list, even better. Tell everyone!

Social Marketing Ideas to Promote your Real Estate Business Now – take it to the next level with Twitter. Twitter is much more focused on real-time interaction.

You’re in the middle of an exciting deal. A family has just moved to your area and you’re showing them some of the unusual properties that are newly on the market at historically low prices. Tweet your enthusiasm to everybody out there. Passion breeds passion.

Invite all your online friends to visit at the first opportunity. Give free tips on how to find a great carpenter or gardener or plumber. List open house information. Inform everyone of local market trends. Everyone today is interested in how the economy impacts real estate and vice versa. Be the go-to guru on Twitter for those insights.

Real Estate pros can keep in touch with their current client list, and considerably expand it, by taking advantage of the latest social networking tools. Real life, meet virtual reality. See how one enhances the other.

Both Facebook Pages and Twitter are where you can –

• Build a community surrounding your business and gain extra exposure
• Share valuable content about DIY resources and ideas. What’s new in the “green housing” arena? What are the biggest benefits of using a real estate agent over doing it all yourself.
• Inform fans of what’s going on in the real estate industry. Are home prices going up? Down? Is it a buyer’s market or a seller’s market. Tell them how they can best approach house-hunting in the current market. How can they best stretch their dollar? Don’t forget about sellers – let them know the top 10 things they can do to increase their chances of selling their home in the current market. Or what they can expect when they first put their house on the market.
• Ask fans for input and comments about their house-hunting experiences. What have been the biggest obstacles, and how did they overcome them? Could they list their best resources they used for their renovation projects?
• Create contests and special offers
• Get a little crazy and creative – loosen up and have a bit of fun
• Announce your upcoming events, such as Open Houses, etc.
• Upload your videos and pictures of homes you’re selling. Encourage your Facebook fans to upload “Before and After” renovation pictures and videos.
• Announce your new products / services
• What’s going on in your town and nearby areas? Get people excited about moving to your town. Think about the different ways you can do that. Explore what the various neighborhoods are doing for fun and excitement. Why not share these with your social network visitors?
• What about other related topics your audience is interested in? Could you provide information for them about: home decorating tips, green home project ideas, flooring options, diy resources, ROI for typical renovation projects, how to recycle their old material from renovation projects – both inside and out in the garden. The list goes on and on when it comes to topics dealing with home and garden.

In, most types of real estate markets, the quality and insights of the marketing plan, is, often, a significant factor, and difference, in the results, in terms of price, potential buyers, etc! Although, this may not be as significant, in an extreme, sellers market, such as what we are presently, witnessing/ experiencing, as it is, in others, it still has some impact! The finest quality, best, real estate professionals, often, differentiate themselves, from the rest – of – the – pack, by the development and significance of their plans, and approaches, in this area! With, that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, 5 key steps, towards creating, truly, successful ones.

1. Overall plan: How does the specific property, differ, from its competition? What, exactly, is its competition, and why? Which, specific, niche, if, any, might this house, fit – into? An agent owes it, to his client (the homeowner), to, thoroughly, explain, his reasoning, and how, he plans, to create, the necessary degree of buzz! Homeowners and agents, must proceed, on the same – page, from the onset, to maximize desirable results, etc!

2. Table of responsibility between agent and client: If, you want the desired result, begin the process, in a mutually, informed, manner/ way! Each must understand, realize, and agree to his specific duties, as they relate to this Table of Responsibilities! When the owner, and the agent, he chooses, and hires, are comfortable with, and agree, from the onset, the plan, is better performed. For example, the homeowner must keep the house, neat and clean, and ready, to be, shown, on short – notice, to achieve the finest possibilities! They must discuss items, such as showing, advertising, Open Houses, etc!

3. Timeline: Most people, selling their homes, are concerned, with the stresses, tensions, and hassles, etc, which, often, accompany this period! Frequent discussions between client and agent, help to create, a viable, timeline, and often, a more realistic, prepared, homeowner!

4. Review/ discuss: The best – laid plans, of mice and men, often go astray! How many times, have we heard that, yet, continue, not to learn the key lessons? Since, it is impossible, to precisely, predict the future, usually, there must be a pre – scheduled, weekly time (at the minimum), where the parties, fully discuss, results, showings (or lack of), and, whether, there is a need to adjust/ tweak the plan and approach!

5. Modify/ tweak, as indicated/ necessary: Avoid being inflexible, but, maintain, a balance, between, what one hopes for, and reality! There may be a need to modify, and tweak, the plan/ approach, if, and when, it’s necessary, and indicated!

Smart agents and homeowners depend upon a quality marketing plan! Doesn’t it make sense?

In order to be successful as a real estate investor or basically in any other market, you must know how to market. Marketing is the pulse of your business, without a pulse, you flat-line and you DIE, no really, you are dead, or you might as well be because you aren’t doing anything in the business. You can be a newbie investor or a weathered one but if you “act” busy, it doesn’t necessarily mean that you are doing the things that count to increase your leads.

MARKETING IS LIFE. You are not a real estate investor, well not precisely; real estate is just your vessel, your means of becoming financially independent. In essence you are a marketer. Learn this craft well; study it day in and day out. You must become the World’s Greatest Marketer, but in your farm area first. Baby steps, come on!! All of you insist on getting coaching, products, courses and real estate books. Those are all good and well but what about marketing? When does that come into play? Invest in some marketing books, they go a long way, even if they are in a different market, they all have great ideas and useful techniques to put into good use.

I use many different types of marketing strategies on a day to day basis, but what helped me the most which I highly, highly recommend is… Guerrilla Marketing!! That is right, how I launched myself onto the scene was with several subtle but extremely creative and powerful Guerrilla tactics that can help any investor, especially the newbie investor. Oh man, I felt like a little boy at Christmas once I started getting my phone to ring off the hook!

Shhhh, do not say anything, but what I am about to share with you are some of my secret, but really not so secret techniques that helped me get my phone ringing off the hook!! With this approach you can make $10,000 within the next thirty days if you start right now! Unfortunately some of the strategies I used involved hitting the streets, that’s right… you have to hit the pavement and I mean hard, hard like “curbing” as in American History X hard. Uncomfortable going out and about, well you might as well stay comfortable in your lousy life. In order to succeed you have to just do what it takes, remember, pain is only temporary but victory is forever.

As I was saying, yellow signs, the oh so lovable 18″ by 24″ yellow corrugated plastic, how I loathe thee. Two ways to use them, the first is to attract sellers and the second is to attract buyers. Like anything else in the world, this is a numbers game and you must stay persistent. Every month, if your budget allows for it, shoot to purchase 300 yellow 18×24 corrugated signs, a pole stapler and either a red or black “KING” sharpie. You are going to write on 200 of them:

WE BUY HOUSES

FAST FOR CASH

XXX-XXX-XXXX

Every week you will place 50 signs in high density areas, but use common sense guys. Do not put these signs on a highway!!! You are most definitely going to cause a car accident but most importantly you aren’t going to get any calls. For every 50 signs you put out, you will get around 5 calls of the highest motivated seller you will come into contact with, but in the end it will only result in a deal or two which is very good.

At the same time, you grab the left over 100 signs and write:

HANDYMAN SPECIAL!!

HOUSE 4 SALE

MUST SELL QUICK

XXX-XXX-XXXX

Or,

CHEAP HOUSE 4 SALE

4 BEDS/ 2 BATHS

MUST SELL QUICK

XXX-XXX-XXXX

Most of you at this point are going to whine, “But Lou, I do not have a house to sell, isn’t that wrong?” After I am done smacking you, I will remind you that you are a Guerrilla Ninja and that you need to have an ever expanding Cash Buyers List. The beauty of this is that you will get tons and tons of calls, I mean tons. About 40% are tire kickers, 40% retail buyers, 10% wholesalers and 10% legitimate CASH BUYERS!!!!

So once you have a deal under your belt you can quickly call and email the cash buyers to sell it quick! And since you placed all these signs in the same area, you will not have an issue matching them up to a property that they want. Also, since you have gotten in touch with some of the local wholesalers, try to get one of the deals they have and Joint Venture with them. It is the quickest way to make $1,500 and up for being the matchmaker between the two. And the more Cash Buyers you talk to, the more confidence you will have in shooting them out a deal when you are on a friendly basis with all these wholesalers. Wholesalers may be a little hard to get through the first time around but trust me, they only care about one thing and that is moving a property, and moving it quickly.

But wait, there is more, I highly recommend you save all those phone numbers you receive so that you can market to them in different ways. It does not matter if the calls are coming from either Seller signs or Buyer signs, but save them and you can market to them as well. But those strategies are for another time. Anyway, this was a quick but simple overview of one of my favorite Guerilla Marketing methods, the Yellow Sign.

Cheers!

P.S. If you want to get some cheap signs I recommend you going to signwarehouse.com, they are very inexpensive there as opposed to the local sign shop.

If you want some great books as well, I highly recommend the following books:

– Guerrilla Marketing by Jay Levinson

– Word of Mouth Marketing by Andy Sernovitz

– Selling The Invisible by Harry Beckwith

– Do It by David Newman