When somebody hears the word “real estate” in your market, what do you think comes to mind?
For most Americans, it's instantly Zillow. They've taken over this position in consumers' minds, being the first place they go for searches and home values.
So, how do we compete against a billion-dollar company?
A lot of you have given up and said, I'm just going to start buying my leads from Zillow. Keep in mind that's a negative 32% ROI, meaning for every $10 spent, you lose $3.20.
So, how do you win against Zillow and take over “Mindshare” in your local community?
You can't do it entirely, but it'll come from getting close to your consumers and your community.
Zillow can't create relationships with specific people in specific communities. But you can… by developing relationships with your own audiences, showing expertise, and connecting with local businesses and charities. Highlight why you love your community through videos and social media.
Heading into the new year, here's a game-changing strategy for you:
Open up your CRM, scan your sphere of influence, and pinpoint all the business owners. Start by reaching out to them. Call and ask, "Hey, Jim, how's the new year looking for you? How did last year finish off?"
Share your plan, "I want to start endorsing a local business every week on my social media, and I'd love to feature yours. I just want to promote local businesses I admire. No strings attached. Are you cool with that?"
They'll likely say yes, appreciating the gesture.
Be the Go-Giver. Lead with their needs. Within a week, make a post about their business on social media. Include photos, share your personal experience, and publicly endorse them. Tag them in the post. They might even share it with their audience. It's a win-win, a feel-good moment for both parties.
Even if they don't reciprocate immediately, the spirit of giving will work its magic for your business.
Now, measure your efforts. If your goal is to...
Received a referral lately? What's your reward program for the person who sent it? Not about closing deals, but acknowledging referrals. Let me walk you through a five-step plan to revamp your referral program for the new year. You need a systematic approach to increase referrals and business.
Step one: Upon receiving a referral, thank them with a small, personalized gift—$25 to $50. A handwritten note makes it special. Express gratitude and mention you'd love more referrals.
Step two: After the first appointment with the client, reach out to the referrer via call, email, or text. Share your positive experience and appreciation.
Step three: Follow up when the client takes significant steps—listing the house, making an offer. Keep the referrer in the loop, expressing gratitude.
Step four: After closing, send a larger personalized gift, $50 to $100. Show your appreciation for the valuable referrals.
Step five: Do a social media post publicly thanking the referrer....
Let's consider your office location: If you were to drop a pin on the map around your office, extending 2 to 5 miles, have you connected with local business owners in that area?
Many business owners are facing challenges due to economic changes and other factors. It's an excellent opportunity to reach out to them and establish a connection.
Here's a simple approach: initiate a business card exchange. Walk into a nearby business and introduce yourself. Mention your office's proximity and express your interest in referring people who are new to the area. You can say, "I often meet people relocating here, and I prefer to refer local businesses. Would you mind exchanging business cards?" Allow them to share information about their business.
You can further enhance the connection by saying, "I like to highlight a local business on my social media each week. Would it be okay if I featured your business next week and tagged...
Hey everyone, I've got a question for you:
What are your standout moments when working with buyers?
It's vital to consider the service aspect of our job: Service is what we do for our clients, while hospitality is about how we make them feel.
We are essentially in the hospitality business, aiming to create emotional, “WOW” experiences for our clients that leave them saying, "Wow, I can't believe what you just did for me."
These are the moments that lead to referrals and repeat business.
Let me share three examples of “wow” moments that can enhance your buyer representation business.
First, implement a pre-meeting questionnaire: Just like when you visit a doctor, send your clients a short questionnaire ahead of time. Let them know it will help you serve them better. If they don't complete it, suggest arriving 15 minutes early to the meeting to fill it out. This simple step can improve your...
Are you actively farming your own neighborhood?
It's a straightforward marketing strategy that many agents overlook. So, why should you consider farming your own neighborhood?
Well, it all comes down to the fact that people prefer doing business with those they know, like, and trust, especially when they share a common bond.
When you live in the same neighborhood, potential clients are more inclined to choose you as their REALTOR. However, this won't happen if you're a "secret agent" – someone they don't even know lives nearby and can serve them.
To get started, you need to establish yourself as a local expert.
Begin by introducing yourself through a letter or postcard. Let them know you're a resident and express your interest in being their preferred REALTOR. Share your credentials and accomplishments to give them confidence in your abilities.
Next, demonstrate that you're an active agent....
What's the top reason someone might sell their house in the next 12 months?
A recent study just unveiled the number one motivator for people moving in 2024…
…and it's all about craving more space—not just square footage but room to breathe.
A whopping 38% of respondents cited this as their primary driver for considering a change.
Another big one is being closer to family and friends, a universal priority. Job changes and the overall cost of living in one community versus another are also high on the list. Then there's the desire to snag a better housing deal or explore different neighborhoods for financial reasons.
Surprisingly, there are a couple of unique motivations emerging: Some folks want to live in areas that align better with their social views, which is a new trend.
So how can you approach this topic sensitively?
Here's one approach: Share a social post stating, "One of the top reasons people are...
I've got three pieces of great data for sellers:
First off, the number of offers per listing sold has rebounded to three and a half, moving up from the previous high of five and a half offers last year.
This drop was influenced by rising interest rates, but recently, we've seen a resurgence in the number of offers.
Next, let's talk about pending home sales, which have been steadily increasing over the past three months.
These numbers have been consistently on the rise.
And then there's the excellent news about sales prices.
They've not only recovered to where they were in June of last year, which marked an all-time high for U.S. home prices, but they've actually surpassed that level by a considerable margin. It seems like this upward trajectory in prices will persist.
So, if you're considering selling your home, this might be the optimal time to do so. Looking back at the past decade, it's quite...
The impact of climate change is becoming increasingly evident through natural disasters worldwide. In my market alone, 2,700 homes were lost to wildfires, including three duplexes that I owned. Recent events like the devastating fire in Maui have left hundreds homeless.
How does this relate to real estate? Well, it's directly tied. Amid this destruction, we, as REALTORS, have an opportunity to step in and provide assistance. While it won't be an immediate transaction, it can help us build lasting relationships founded on genuine value.
So what's my suggestion?
Reach out promptly to your entire sphere of influence. Capitalize on the awareness generated by these incidents. Say, "Given the current wave of natural disasters, many clients have requested a quick update on their home value to ensure their insurance coverage is adequate. I've already prepared this report for you, and it took just a few minutes. If you're...
I've got a story from my trip to Boston with my wife. While our son was in summer camp, we embarked on a delightful foodie tour of Little Italy, guided by an amazing teacher turned tour guide. He shared the rich history of the area, led us through fantastic shops, and treated us to mouthwatering cuisine. Toward the end, he pulled off a brilliant move relevant to your real estate efforts.
As we basked in the afterglow of a satisfying tour, he proposed a group photo. After the snap, he asked, "Who wants a list of all the restaurants we visited today? Just give me your email, and I'll send it over."
We all gladly obliged. Upon reaching home, his email contained the promised picture and the tour's culinary highlights. Here's the genius part: he added a well-placed plea for a review, taking advantage of our post-tour excitement. We promptly provided a glowing review.
He went further, offering even more value. For...