As a lot of my friends know I love the real estate business. One reason I left was for promises of greener pastures… but I didn’t find that pasture until recently. Actually, after months of time and money invested I eventually found my pasture.
This article isn’t necessarily about the business I’m currently in, but more about a week or two of brainstorming about what I would do if I got back into real estate. Sure it is easy to brainstorm, but I have learned these strategies and put them to work in my business. As expensive as “traditional” advertising has become it is reaching a smaller and smaller market segment. The New Tradition of marketing has to work for most of us on a budget.
It’s important to look at your lead gathering as it flows into your sales funnel. Imagine a number of pitchers dumping water into a funnel. Each of those pitchers are sources of leads you need to fill that funnel so that customers and clients spill out the narrow end. As you evaluate your business at the end of the year it’s important to examine where your leads came from and how successful each channel is in providing leads. social media ads Is floor time contributing to your business? The relocation department? Print ads? Cold calling? A web page?
Of course, the internet is the New Tradition that I am referring to above and it has leveled the playing field for so many purposes. As a real estate agent, you must understand that your client or any potential lead has more information at their fingertips than ever before. As Google has become a verb in the lexicon of the internet so has most of your real estate customers have become experts in your market (or so they think).
Old online tradition: Realtor.com was the first to lure agents to the internet while charging exorbitant fees just so you can have your face on the internet and your listings and they could charge you more for virtual tours and additional pictures. That was the 1990’s when we were thrilled just to have some sort of presence on the WWW. The downside was that you were stuck in Realtor.com’s world. Adding your expertise to the equation was more along the line of putting up your best pitch on your profile page and hoping someone would call you directly.
Because some of you know her I will use only an initial to tell the following tale: My wife, we will call her V, has collections of stuff. What I call a pile, she calls a collection. As I write this, I am sitting in a room hearing the hum of 3 computers. Anytime I try to thin down “the collection” it seems there is a valuable phone number, email address or date that has been scribbled on something (an envelope, a post-it, etc) that disappears. Try as I might to convince her to put it in her phone, palm pilot or one of these humming computers when she receives said information, she just can’t bring herself to do it. She doesn’t have a Blackberry even though she should. As a professional, you should have some sort of smart phone too.