I was in a large real estate office recently, meeting with two new clients, and it was teaming with people walking up and down halls, doing all kinds of “Realtor” activities. I had a thought as I walked to my meeting room…” most of these people aren’t going to be successful long term.” Many of them need help and guidance to not go the way of the dodo bird. It seems every month something is trying to disrupt the real estate industry and change upon change is coming right at us. Many people forget to dodge and weave when these adaptations and changes find our business. These people are heading towards extinction in the real estate business, but they don’t know it. Here are 5 traits of the soon to be extinct Realtor.
Every month, there are thousands of new Realtors entering the profession. Statistically, most new real estate agents won’t make it a long career–many won’t make it past the first 18 months. Why? There are many reasons, but the main reason is new agents don’t know how to generate their own clients. This is information they don’t teach in real estate school. You pass a test and they say “good luck!” This is also why many new agents join teams so they can gain experience, work with active clients, and learn to generate their own business with guidance from a team leader. If you don’t want to join a team or work at a brokerage where teams don’t exist, then you better be a self-starter and eager to become a marketing king. I want to cover some of the basic ways new real estate agents can have a banner first couple years and get their business off the ground by generating their own clients at zero to little cost.
Does this sound familiar? “I want to do a successful first time home buyer seminar!” Then no one shows up, or you get two people. What happened? Marketing happened…better yet, the lack of it. Your intentions were great, the presentation was full proof. You just need to get butts in seats. That is where you fell short. It’s not easy to set up and execute a successful first time home buyer seminar…but it can be done. When I talk to my clients about doing the important steps below they sometimes have push back or think they can get a good result doing just part of it. Yes, that can happen but I have seen too many upset agents and lenders when the event day came and very little showed up. Here are what I feel are the key steps to getting qualified sign ups and attendees.
Are you using Facebook ads as part of your online/social media marketing strategy? If not, you may want to think again. Facebook ads are far more powerful to reach a “target audience” than using your Facebook timeline/Friends list. By 2017, the amount of people in the United States on Facebook is projected to be 167.2 Million people. That is over 50% of the entire US population! That’s a lot of potential buyers and sellers and a heck of a lot more people than your Facebook Friends list. There are many more advantages to using Facebook ads, such as being able to target market people in a specific area, income level, job title, interests and more! What do you do with all of this targeting power? How do you convert these people to clients and paying customers? It all starts with what you need first to even run a Facebook advertising campaign …
The Spring market is arriving and that means a few things. Business is about to start booming and…Realtor Broker Opens! When I first moved to the Washington DC/Northern VA area in 2012 I didn’t know what a “Broker Open” was as this was something agents didn’t really do in Phoenix, AZ. I quickly find out that they were all the rage in Northern Virginia, and a way that Title Companies built relationships with agents. Having sponsored and taken part in many Realtor Broker Opens over the last 4 years there are ways to maximize Realtor traffic, expose the property, and get what you really want…honest property feedback from producing Realtors. Here are tips to dominating Realtor broker opens and making the most of those 3 hours.
Do you have a real estate marketing budget? Do you track where your marketing dollars go and what sort of ROI (return on investment) you are getting? Surprisingly, many Realtors either have a “loose budget” or they aren’t really tracking the return on those marketing dollars spent. So, in today’s blog I want to cover a real estate marketing budget (monthly), what are some of the best things to be spending your marketing dollars on to get a high ROI, and the allocation of those funds. I realize that every Realtor works a little differently, and there are vast ranges in marketing budgets. To make it easy, lets say your marketing budget is between $1500-$2000 a month. If your marketing budget is a lot less than that, don’t worry, the information below will still be helpful.