Webinar: Eleven Ways to Quickly Attract New Listings

4 Ways to Help Small Business Owners During Covid-19

It's likely that you know someone who has had a business close this year. We're seeing this across the country; about 8,000 businesses have already closed in 2020 . With Covid-19 and to online shopping - small business are suffering. Shockingly - 61% of retail purchases this year were done on a mobile device and that number is likely to grow in the coming months.

So what can you do to help people in your database who own a business that are struggling right now? First it's important to understand that we are all small business owners. We are all in this together. When a local business closes - it hurts the owners sure, but it also hurts the suppliers, the building owners, the employees, vendors, and countless other people who rely on small businesses in the community.

Four Ways You Can Help:

1) Endorse them on social media. 

"I'm going to feature a local business every single week on my social media throughout this COVID crisis. I want to make sure that we're supporting...

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Quick Tip: New Marketing Opportunity with Investors

 

What if I told you that there's a new opportunity in the market and no one's looking at? It's what I call a New Delta. A Delta is a point between two markets statistics which creates a gap, and that gap is opportunity. 

When we look at residential/multifamily properties that are rentals, we can see the market over the past 12-24 months has been relatively stable. Rents have stayed the same. In most areas of the country, they're not going up dramatically and they're not going down dramatically.
 
Second thing we have going on right now is that the cost of operation is pretty stable. Prices have been relatively stable as well because rents are stable and that makes prices stable.
 
Cap rates have been averaging across the country, 5, 6, 7%, depending on where you live and where your property is located and that hasn't really changed over the past several months either. 
 
So what has changed?
 
Interest rates! Interest rates on...
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Legacy For Sale By Owners

What is a Legacy FSBO?

This is someone that put their house on the market but then they got cold feet, or they got tired, or maybe frustrated so they removed their yard sign and threw in the towel.....but they forgot to remove their listing from all the places they may listed their home, places like FSBO.com, and others. (Google FSBO's in your city for a complete list of sites that may contain Legacy FSBO's)

This provides you with a unique opportunity to reach out to these potential sellers. For instance you might say something simple like:

"Hey, I just was doing some deep research in your neighborhood this morning and I noticed you had your home on the market last June. Just a quick question, would you still consider selling to a cash buyer? Would you still consider selling for the right price? Would you still consider selling to a qualified buyer? Because I've got a really strong group of buyers that are out in the marketplace looking right now. If you've ever considered, still...

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Quick Tip: Talking About Commissions

My friend and superstar REALTOR Adam McGrew recently shared a unique concept that he uses when talking commissions with sellers. He focuses his script around what the competition is offering and how the seller can be more competitive in the market.

His first step is to print a map of the area along with a list of properties that are currently for sale near the new listing. He then researches the compensation offered to buyers agents and highlights this information in his presentation. Next he asks the seller a simple question "So, you do want to be competitive, right?"

Not only do most sellers want to match the current compensation offered to buyers agents in the market, many want to incentivize buyers agents and encourage more showings by offering a higher compensation percentage.

Watch the video for more details...

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Pre-listing Letter + First Person Perspective: A Twist on Traditional Marketing

Most of us have sent a just-listed/sold/pending postcard to a neighborhood. These can be an effective way to touch more potential sellers and unlock new listings.

But what if we had a different twist on this traditional marketing approach, that is more effective? Here are two different techniques which may dramatically improve your results: 

The first is a pre-listing letter that you send out before you launch your next listing. Let's assume your sellers have given you permission to put their home on the market but strategically you are doing a coming soon campaign so you have a few days before the listing goes live in the MLS. This is a perfect time to do a pre-listing letter which will say something like:

"I will be marketing a new listing in you neighborhood in the next few days. As a courtesy I wanted to let you know will see some some increased activity. Also because I've done a ton of research in the area I thought I would reach out to you and offer my services. If...

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Using a Mini-Brochure Card to Market Listings & Lead Generate

 

 

What is a mini brochure card?

These are over-sized business card sized brochures which feature a couple pictures of your listing, a few key bullet points, along with the price and address of the home. On the reverse side of the card is your contact information in the form of a traditional business card.

How do you use a Mini-Brochure Card for marketing and lead generation?

First when you take a listing provide these cards to your sellers as a way for them to provide information about their listing to family and friends. You might say:

"I am providing you with a stack of mini-brochures to provide to family and friends. I like to cover all bases with my marketing. The card has a link to my website so they see the virtual tour and HD photos."

The cards not only market the home, they market you as the listing agent. In addition they could go into a flyer box and be used at open houses. Another use for a mini-brochure is to use them when talking to the neighborhood, for...

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What do you do with a disloyal client?

 

 

What do you do with a disloyal client?

Barbara Brown an amazing principal broker told me a story that can help all of us. It's a story of forgiveness. She had a client that she had worked with for years, be disloyal and list their house with another agent. It hurts but we have all had it happen.

When the holiday season came around, she said to herself - Should I delete these people off my database list and not send them a holiday card or should I keep them on my list?

She struggled with the decision and thought about it for a long time. Finally she decided to take the high road keep and them in her database. She sent them her traditional Holiday Card.

Guess what happened?

Those disloyal clients circled all the way back. Their listing didn't sell and they called Barbara to come list the property. Of course Barbara had to ask the question - Why didn't you call me the first time?

Turns out in their previous transaction with Barbara there had been some little rub around closing...

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4 Quick Steps to Evaluate Your Competitors

 

 

When you look at in the NBA, the NHL, or the NFL, what do great teams do before an important game? They sit down and study the competition. They look at the plays that have been run by their competitors. They look at the defense, the offense, they look at the individual players and how they are going to approach this game.

We need to do the same thing as a corporate athletes.

We need to be looking at our competitors and define how we can compete at a high level. What can we learn from what they're doing? What can we avoid that they're doing wrong? What can we do to get better than we already are?

Once you've identified your top five competitors. Start by reviewing their personal website. Check out their their bio or about me section, study the content, the structure, and the brand elements of how they have written their ad copy. Who is it speaking to? How does it come across? Next look at the photos. Are they using multiple photos throughout the website? Are they using video...

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Facebook Quietly Testing Hashtags

 

 

Interesting news - Facebook is quietly testing the use of hashtags.

We all know that Facebook owns Instagram. They have for years and hashtags are big on Instagram. So we always tend to place hashtags behind every post. Why do we do that? Because hashtags are searchable! If you click on a hashtag you will see all the posts that have used that hashtag recently. 

Now that hashtags are going becoming searchable on Facebook, you can get ahead of the crowd and be somebody that is showing up at the top of one of these hashtags early. 

Check out this quick video for a quick demonstration!

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Quick Tip: Understanding Facebook Ads

 

 

Looking for a way to build your social media presence, add visitors to your website, drive buyer and seller leads, or connect with your sphere of influence?

Check out this quick coaching segment on creating Facebook Ads featuring marketing expert Jon Reinhart and Jim Remley.

To watch the whole coaching video and take advantage of 14 Days of FREE Coaching explore the Path Performance Coaching Platform!

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Fresh ideas, new scripts, cool tools, and the hottest trends in the real estate industry are coming your way. Have an amazing day!