Prospecting Category
If I was limited to one way to prospect for buyers and sellers, it would definitely be an Open House. If I wanted to expand my database with top-notch contacts, I would go to an Open House. If I had to sell a listing in the least possible amount of time, I would have an Open House. Are you seeing the pattern here? Open House marketing was the key to my sales career when I was a salesperson, and to my sales volume and profits when I was a broker/owner, and it is and has been the key to selling new homes since the first log cabin was sold. But Open Houses take preparation and the right tactics in order to be successful, so here are seven ideas to make your next Open House SIZZLE!
1. Think Right. Unlike new homes, I cannot remember having an Open House for a resale house and selling the house to a visitor at the Open House. However, I could not count the number of prospects I’ve gotten from Open Houses to whom I have sold other houses!
So, what is “Right Thinking”? Right thinking at an Open House event is Read the rest of this entry »
There is no one “best way” to present the price to the seller. With all the resources available to homeowners today, it’s important to have as much information as possible prior to the listing presentation so you are able to justify the market price in a logical manner. Remember that it’s the information you present that creates trust between you and your potential client, and how you present it is just as important as what you present. Following are seven strategies that may help you not only get the listing, but get it at a price that will sell.
Ask for “Their Price.” Hey, it’s their house, so ask them what they want for it! Sometimes their price is right, but usually it’s too high. However, it’s their house, so it’s courteous for you to ask what they want for it, as this indicates that you value their opinion. When and if they give you “their price,” respond by telling them you will search the market data for support for that price. Then at the presentation you can say, “I looked everywhere for support for $400,000 but couldn’t find any. However, I did find support for $375,000.”
Consider Bracket Pricing. Many agents today use bracket pricing because it’s easier for the seller to understand and for the agent to explain. Pricing is not an exact science, so telling someone their home should be offered at $315,500 may cause some concern, whereas Read the rest of this entry »
The most basic and fundamental rule of being successful in any business is “find out what the customers want and give it to them.” Many of my customers/students want to know how to do this, so this blog grew out of that need! It’s a fact that whether you’re selling real estate or widgets, most of your customers want electronic information and communications. Frankly, everything in marketing real estate changed when NAR reported that approximately 90% of the people who purchase homes go to the Internet to look for them. Customers want “it” electronically, so consider these five ideas on how to get “it” to them!
1. Develop a serious email address book. You can do this in a variety of ways. Offer your email address to your old and new contacts and give them an option of getting your newsletter, announcements, etc. via email instead of snail mail. Most of them will choose email! Friends on social networks offer an excellent opportunity to build a database, as do real estate functions such as Open Houses or REALTOR®-hosted functions, seminars, etc.
Email contacts are the key to attracting website visitors, and website visitors are the key to profits now and in the future. Most of you reading this blog are one of 2,000+ contacts who were notified about this blog via email. Fifty to one hundred email contacts are sufficient to start electronic marketing, but that address book will be a continuous work-in-progress. As I’ve mentioned in previous blogs, just look at what amazon.com has done with email marketing.
2. Information vs. Advertising. Most potential home buyers know what’s for sale, as they’ve made regular and sometimes daily trips to the real estate listing websites to check out Homes for Sale. They really don’t need an electronic flyer about a New Listing containing the exact same information and photos they saw on the MLS or realtor.com. It’s hard for many agents to make the switch from announcing to informing, but that’s what customers want. Electronic newsletters and blogs are very well received by most customers, with blogs being the biggest contributor to website traffic. This is a blog I receive daily, and its main feature is links to helpful information: http://patrick.net/. You could share similar links with customers on your website in the same manner.
Speaking of websites, as I’ve said before, in this day and age selling real estate without Read the rest of this entry »