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Smart Marketing For Realtors

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Smart Marketing For Realtors

  1. 1. Real Estate Marketing 101 A course to help you effectively market and increase your business.
  2. 2. <ul><li>A course in Real Estate Marketing resulting in a continually </li></ul><ul><li>expanding business. </li></ul>
  3. 3. <ul><li>Why you need to market </li></ul><ul><li>When marketing won’t work </li></ul><ul><li>How to insure your marketing DOES work </li></ul>You First Need to Know
  4. 4. <ul><li>If you don’t you will: </li></ul><ul><li>Lose repeat business. </li></ul><ul><li>Lose referral business. </li></ul><ul><li>Have to spend far more to generate new clients. </li></ul>Know Why You need to Market Did You Know… it costs up to 10 times more to acquire a new client than it does to keep the ones you already have?
  5. 5. <ul><li>If you haven’t made clients happy to begin with. </li></ul><ul><li>If you haven’t made clients feel they are important. </li></ul>Know When Marketing Won’t Work Did You Know… 71% of Real Estate transactions are generated from repeat and referral business?
  6. 6. <ul><li>Develop a database. </li></ul><ul><li>Develop a referral system. </li></ul><ul><li>Stay in touch. </li></ul><ul><li>Show clients you care. </li></ul>Core Requirements Did You Know… 67% of customers are lost because of no consistent customer contact.
  7. 7. 1. Develop a Database <ul><li>For your client list, you may want to use one of the following databases: </li></ul><ul><ul><li>ACT! </li></ul></ul><ul><ul><li>Goldmine </li></ul></ul><ul><ul><li>Access </li></ul></ul><ul><ul><li>Outlook Contacts </li></ul></ul><ul><ul><li>Excel </li></ul></ul>
  8. 8. <ul><li>Include the following information: </li></ul><ul><ul><li>Name </li></ul></ul><ul><ul><li>Address </li></ul></ul><ul><ul><li>Telephone numbers </li></ul></ul><ul><ul><li>Email address </li></ul></ul><ul><ul><li>Loan closing date </li></ul></ul><ul><ul><li>Loan type </li></ul></ul><ul><ul><li>Interest rate </li></ul></ul><ul><ul><li>Family member names </li></ul></ul><ul><ul><li>Birth dates </li></ul></ul><ul><ul><li>Anniversary date </li></ul></ul><ul><ul><li>Hobbies, interests </li></ul></ul><ul><ul><li>Referral names </li></ul></ul><ul><ul><li>Recording/tracking of client contacts </li></ul></ul><ul><ul><li>Other information that you deem valuable </li></ul></ul>1. Develop a Database
  9. 9. <ul><li>Divide your list into 2-4 sub databases. </li></ul><ul><ul><li>Separate them by business potential and market accordingly. </li></ul></ul><ul><li>Market to commonality factors such as interests or event attendance. </li></ul><ul><li>Keep your database information current. </li></ul>1. Develop a Database
  10. 10. 1. Develop a Database
  11. 11. <ul><li>When to ask for referrals: </li></ul><ul><ul><li>At the close of the initial meeting. </li></ul></ul><ul><ul><li>Include postage-paid referral cards with your closing gift. </li></ul></ul><ul><ul><li>Include postage-paid referral cards with your survey card that is sent after closing. </li></ul></ul><ul><ul><li>Call clients one month after closing. </li></ul></ul><ul><ul><li>Anywhere and everywhere. </li></ul></ul>2. Develop a Referral System
  12. 12. <ul><ul><li>All marketing materials should reinforce your desire to do business by referral. </li></ul></ul><ul><ul><li>Ask for referrals except when sending a birthday, anniversary or holiday greeting card. </li></ul></ul>2. Develop a Referral System
  13. 13. <ul><ul><li>Keep track of your client’s referrals in your database. </li></ul></ul>2. Develop a Referral System
  14. 14. <ul><ul><li>Send a thank you card immediately when you know about a referral. </li></ul></ul><ul><ul><li>Ideally, also call the client. </li></ul></ul><ul><ul><li>Let the referred client know how much you appreciate referrals. </li></ul></ul><ul><ul><li>Keep track of all referrals given. </li></ul></ul><ul><ul><li>Give a homemade gift to thank the client. </li></ul></ul>2. Develop a Referral System
  15. 15. <ul><li>Stay in touch regularly </li></ul><ul><ul><li>Ideally monthly or more </li></ul></ul><ul><ul><li>12-18 times per year </li></ul></ul><ul><li>Add value </li></ul><ul><li>Or express true sentiment </li></ul>3. Stay in Touch Did You Know… marketing to your past clients and sphere database will generally pay for itself immediately?
  16. 16. <ul><ul><li>Call clients </li></ul></ul><ul><ul><li>Send: </li></ul></ul><ul><ul><ul><li>Postcards </li></ul></ul></ul><ul><ul><ul><li>Newsletters </li></ul></ul></ul><ul><ul><ul><li>Greeting cards </li></ul></ul></ul><ul><ul><li>Send email notes </li></ul></ul><ul><ul><li>Send a digital newsletter </li></ul></ul><ul><ul><li>Send articles of interest </li></ul></ul>3. Stay in Touch
  17. 17. <ul><ul><li>Send personalized notes or cards on all anniversaries and birthdays. </li></ul></ul><ul><ul><li>Respond immediately when you find out about a special event. Keep on hand: </li></ul></ul><ul><ul><ul><li>New baby cards </li></ul></ul></ul><ul><ul><ul><li>Congratulations cards </li></ul></ul></ul><ul><ul><ul><li>Sympathy cards </li></ul></ul></ul><ul><ul><ul><li>Wedding cards </li></ul></ul></ul>3. Stay in Touch
  18. 18. <ul><ul><li>Invite clients to: </li></ul></ul><ul><ul><ul><li>Luncheons </li></ul></ul></ul><ul><ul><ul><li>Special events </li></ul></ul></ul><ul><ul><ul><li>Sporting events </li></ul></ul></ul><ul><ul><ul><li>Night at the movies </li></ul></ul></ul><ul><ul><ul><li>Pumpkin carving contest </li></ul></ul></ul><ul><ul><ul><li>Easter egg hunt </li></ul></ul></ul><ul><ul><ul><li>Old fashioned picnic in the park </li></ul></ul></ul>3. Stay in Touch
  19. 19. 3. Stay in Touch <ul><ul><li>Invite clients to seminars on topics of interest to homeowners, such as: </li></ul></ul><ul><ul><ul><li>Buying Your First Home </li></ul></ul></ul><ul><ul><ul><li>They Keys To Homeownership </li></ul></ul></ul><ul><ul><ul><li>Investing in Real Estate </li></ul></ul></ul><ul><ul><ul><li>Understanding Reverse Mortgages </li></ul></ul></ul>
  20. 20. <ul><li>Take time to find out about them whenever possible. </li></ul><ul><li>Let them know something personal about YOU. </li></ul><ul><li>Unless you’re in a meeting with a client, always take client calls. </li></ul>4. Show Clients You Care Did You Know… according to a University study, 87% of your past customers care more about a relationship with you, than about the price they paid?
  21. 21. <ul><li>Other professional referral sources </li></ul><ul><li>Corporate Affiliates </li></ul><ul><li>Niches </li></ul><ul><li>Networking </li></ul>Electives: Developing New Business
  22. 22. Build Attorney Relationships <ul><li>Target divorce and/or bankruptcy attorneys. </li></ul><ul><li>Write an introductory letter, follow up with a phone call and then ask for an appointment. </li></ul><ul><li>Outline how you work with clients. </li></ul><ul><li>Explain your follow-up methodology. </li></ul><ul><li>Ask them the communication method they prefer. </li></ul>
  23. 23. Build Attorney Relationships <ul><li>Send value-added information. </li></ul><ul><li>Provide references to confirm your reputation, your responsiveness and ability to follow-through. </li></ul><ul><li>Offer to speak at professional functions. </li></ul><ul><li>Deliver what you promise. </li></ul>
  24. 24. Build Corporate Affiliate Relationships <ul><li>You have a database of contacts to call. </li></ul><ul><li>You can ask every client who comes through your door. </li></ul><ul><li>Simply say, “By the way, we offer a service to corporations. Do you think the company you work for would be interested in providing discounted services to their employees?” </li></ul>
  25. 25. <ul><li>Point out the benefits of a corporation affiliation with a real estate professional: </li></ul><ul><ul><li>Owning a home increases employee stability and retention. </li></ul></ul><ul><ul><li>A home buying education program will be perceived as a benefit of working there. </li></ul></ul><ul><ul><li>Employees will benefit from a discount on their real estate fees. </li></ul></ul>Build Corporate Affiliate Relationships
  26. 26. <ul><li>Add value by: </li></ul><ul><ul><li>Providing one-on-one consultations. </li></ul></ul><ul><ul><li>Holding seminars or lunch and learn sessions on first time home buying as well as real estate investing. </li></ul></ul><ul><ul><li>Offering a special discount or additional service to employees. </li></ul></ul><ul><ul><li>Provide the HR manager with educational brochures and materials. </li></ul></ul>Build Corporate Affiliate Relationships
  27. 27. <ul><li>Niche marketing can include the following target markets: </li></ul><ul><ul><li>Property type </li></ul></ul><ul><ul><li>Consumer group </li></ul></ul><ul><li>When marketing to a niche, you are contacting prospects who don’t know you or your offering. </li></ul><ul><li>You must first build trust before you will obtain business. </li></ul>Target Niche Markets
  28. 28. <ul><li>Choose a home buying program that has a unique offering. </li></ul><ul><li>Obtain a list of prospects that would benefit from your offer. </li></ul><ul><li>Send mailers that describe your offer. </li></ul><ul><li>Speak to groups who might be interested. </li></ul><ul><li>Ensure you have the proper follow-up systems in place. </li></ul>Target Niche Markets
  29. 29. <ul><li>Choose a consumer group that you can identify with such as: </li></ul><ul><ul><li>Newlyweds </li></ul></ul><ul><ul><li>First time home buyers </li></ul></ul><ul><ul><li>Professional investors </li></ul></ul><ul><ul><li>Prospective investors </li></ul></ul><ul><li>Obtain a list of prospects that would benefit from your offer. </li></ul><ul><li>Send monthly mailers. </li></ul><ul><li>Offer prospects value-added information. </li></ul><ul><li>Conduct seminars. </li></ul>Target Niche Markets
  30. 30. <ul><li>Being visible in the community at large and within the professional community is an important part of being successful. Getting involved and being visible may include: </li></ul><ul><ul><li>Networking </li></ul></ul><ul><ul><li>Community involvement </li></ul></ul><ul><ul><li>Volunteering </li></ul></ul>Networking
  31. 31. <ul><li>Web Marketing </li></ul><ul><li>Publicity </li></ul><ul><li>Advertising </li></ul><ul><li>Seminars </li></ul>Extra Credit
  32. 32. 1. Web Marketing <ul><li>Create a site that has information that is updated regularly. </li></ul><ul><li>Keep you site design clean and simple. </li></ul><ul><li>Put a list of all your currently listed properties on your site. </li></ul><ul><li>Put your web address on everything that you give to prospects and clients. </li></ul>
  33. 33. 1. Web Marketing <ul><li>Give users a reason to explore your site. Include: </li></ul><ul><ul><li>Testimonials. </li></ul></ul><ul><ul><li>Organization memberships and community involvement. </li></ul></ul><ul><ul><li>Information about yourself. </li></ul></ul><ul><ul><li>Links to helpful information. </li></ul></ul><ul><ul><li>An “agent of the month” page. </li></ul></ul><ul><ul><li>Your contact information on every page. </li></ul></ul><ul><ul><li>Something of value. </li></ul></ul>
  34. 34. <ul><li>Give them reasons to visit often: </li></ul><ul><ul><li>An informative email newsletter </li></ul></ul><ul><ul><li>Home improvement tips </li></ul></ul><ul><ul><li>Contest or game with prizes </li></ul></ul>1. Web Marketing
  35. 35. <ul><li>Write an article for local publications or newspapers. </li></ul><ul><ul><li>Reprint the article and include it in a mailer to your database. </li></ul></ul><ul><ul><li>Update your web site and include a link to the article. </li></ul></ul><ul><ul><li>Include the article in your monthly newsletter. </li></ul></ul><ul><ul><li>Reformat the article as a brochure and give it to prospects and past clients. </li></ul></ul>2. Publicity
  36. 36. 2. Publicity <ul><li>Organize an event that benefits your community, school or institution. </li></ul><ul><ul><li>Send press releases to local newspapers, radios and TV studios announce the event. </li></ul></ul><ul><ul><li>Invite local celebrities to attend the event. </li></ul></ul><ul><ul><li>Invite a DJ from a local radio station to act as MC and provide entertainment. </li></ul></ul><ul><ul><li>Invite your past clients to participate in the event. </li></ul></ul>
  37. 37. <ul><li>Contact local talk radio shows and offer to do a 30 minute show about real estate topics and take call-ins. </li></ul><ul><li>Contact your local newspaper and offer to write a column about real estate topics or answer questions on real estate related topics. </li></ul>2. Publicity
  38. 38. 3. Advertising <ul><li>Advertise sparingly: </li></ul><ul><ul><li>Advertise in community newspapers. </li></ul></ul><ul><ul><li>Advertise in publications such as the Thrifty Nickel, Community Press or Tidbits. </li></ul></ul><ul><ul><li>Advertise in local publications that your professional referral sources read. </li></ul></ul><ul><ul><li>Buy a bus bench sign in your farm that is in a high traffic area. </li></ul></ul><ul><li>Track results of your advertising. </li></ul>
  39. 39. <ul><li>Provide value-added services such as free seminars to past clients and prospects. </li></ul><ul><li>Publish a schedule and advertise it on everything you send or give away. </li></ul><ul><li>Send announcements to prospects and past clients. </li></ul><ul><li>Advertise your event in the upcoming events section of your local newspaper. </li></ul>4. Seminars
  40. 40. Remember… <ul><li>Do a great job. </li></ul><ul><li>Make clients feel they are important to you. </li></ul><ul><li>Build a database of past clients & sphere and stay in touch with them. </li></ul><ul><li>Develop new business that fits with YOU. </li></ul><ul><li>Do these four things, and your </li></ul><ul><li>business will continually and </li></ul><ul><li>exponentially expand. </li></ul>