If you’ve read much about the change in mindset of many Americans today, the definite theme of their habits has turned thrifty. The savings rate today is the highest it’s been in a long time. People are taking more time to make buying decisions — not just on houses, but other smaller ticket items too.
And, one of the other trends that is popping up regularly is the increased use of coupons by consumers. Buyers are hunting for bargains where ever they go, taking along money-saving coupons to not only take cents off groceries, but halve the price of a restaurant dinner, a few dollars off an oil change, buy one get one free for entertainment venues, etc.
It’s not like a real estate professional can send out a handy-dandy coupon booklet with offers like $1,000 off your next home purchase and all of them expire on 11/1/10.
Or can you?
There is value in the services your provide before a home is listed or before a home is even decided to be purchased. Home buyers and sellers may not be thinking of the value of these services as their eye is on the goal — the home they are selling or buying.
Consider offering CMAs in coupon form in the local coupon books and packs that get blanketed around neighborhoods. The CMA can also offer a home seller or relocation guide for the homeowner when the coupon is mentioned. Offer a no-obligation buyer consultation coupon with a limited-time offer for a free home buyers guide or guide to the local area. Coupons can work for your business too — if you are creative.
How had your advertising adapted to consumers’ trend toward thriftiness?
Posted in Advertising Strategy, Electronic Marketing, First-time Buyers, First-time Sellers, Home Buyer Leads, Home Seller Leads, Lead Generation (print), Print Marketing.
Tagged with coupon.
By Amy Hausman
– September 3, 2010
I have been reading some figures recently that astounded me. I couldn’t verify them, so I’m not sure I want to share the exact numbers.
However, the gist of these numbers is that a huge majority of real estate professionals NEVER contact home sellers or buyers after the home is sold or purchased. NEVER!
This group of home sellers and buyers is a prime group for you to ask for referrals, to get repeat business, to network with, to get testimonials from. Why would you work so hard to get a client and then drop them with no further contact? It seems so obvious, but yet a good number of real estate pros are just leaving additional business on the table.
Referrals won’t come your way if you never touch base with previous clients. They just gave you a commission and you don’t even say thank you or check in with them? Why would they be inclined to send their friends and family to you?
Who gives you testimonials if you abandon your previous clients? Your previous clients are the only ones who have worked with you and know why your service is — or was — the best.
Do you expect that when a previous client decides to sell their home or buy another that they’ll just automatically contact you? The lack of communication from you doesn’t leave them with anything to remember you by when the time comes for another real estate transaction.
Don’t forget the clients that got you to where you are. They deserve to be thanked and if you expect a source of additional business coming from them — continued contact is also necessary.
How do you keep up with previous clients?
Posted in Networking, Relationship Building.
Tagged with long-term contact.
By Amy Hausman
– September 2, 2010
Trulia recently released their American Dream survey. And if you haven’t seen it, you need to take a look at the section explaining why renters aren’t buying homes.
Buyers could be encouraged to buy homes if….
- 47% said if they could save enough money for a down payment
- 27% said if they got a new job
- 27% said if interest rates stay low/get lower
- 24% said if they decide it makes more sense to buy than to continue to rent
- 23% said if they got a promotion or raise
- 9% said if the local real estate market stabilized
You can work magic to change these renters’ minds now that you know what is holding them back from buying a home. No, you cannot find these renters new jobs or help them get a promotion or raise. You alone cannot stabilize the local real estate market.
But you can educate renters.
- How much down payment do renters-turned-home-buyers need in your area for an entry-level property? Point this in your listing descriptions, your blog, all your marketing.
- What sources for down payment funds can these new buyers tap into? Outline federal, state and local programs that help with down payment assistance or offer 100% financing.
- Interest rates are at all-time lows. They aren’t going to stay there forever, but now is the time buyers can get the most for their money. Explain this in your marketing every chance you can.
- Look at the costs of rentals in your area and compare them to typical home payments. Add appropriate calculators to your website and blog that show renters the advantages to buying a home today.
When you educate exactly to each point where the renters have issues with buying, you’ll win over new home buyers.
Let us know how you market to renters.
Posted in Advertising Strategy, Electronic Marketing, First-time Buyers, Home Buyer Leads, Lead Generation (Electronic), Print Marketing.
Tagged with first time home buyers, first-time buyers, renters.
By Amy Hausman
– September 1, 2010
If you’re familiar with some basic marketing tenets, you’ve probably heard of the 40/40/20 rule in regards to direct mail. It’s always a good refresher even if you think you might remember the rule too.
40% of every successful direct mail campaign relies on a solid mailing list. Your list should:
- Be clean – eliminate duplicates, ensure complete addresses, double check for correct names and/or titles to individuals
- Be targeted – blindly mailing to anyone and everyone is risky; you need to know who in your list is most likely to be in the real estate market to buy or sell a home
- Be timely – examine when your mailing will drop in the mail and on what dates it’s expected to be delivered; be aware of holidays, traditions, school events, etc. that can change people’s schedules and have your mail piece get lost in the shuffle
40% of every successful direct mail campaign relies on the correct message of the mailing piece. Your message should:
- Be short and sweet – don’t beat around the bush, what is your point of sending this mail piece?
- Have a call to action – what do you want recipients to do when they receive your mail?
- Encourage immediate action – what is the timeline of your offer?
Finally, 20% of every successful direct mail campaign relies on the actual mail pieces format and design. Your mailing piece design should:
- Grab the recipient’s attention – when sifting through the stack of mail, your mail piece should entice them to open up/read your piece immediately
- Complement your message – the style of your mailing should match your message; consider if your vehicle and message clash
- Stand out – consider if you mail something in an envelope to have the envelope have an visible outside tag line, be a different color or an odd size to stand out.
Meeting all these different criteria is a tall order. But, it’s good to review each direct mail piece (and electronic marketing pieces too) to see if they measure up to the 40/40/20 rule.
Do you examine your marketing to see if it measures up to the 40/40/20 rule?
Posted in Direct Mail, Electronic Marketing, Print Marketing.
Tagged with marketing rules, marketing standards.
By Amy Hausman
– August 31, 2010
I’ve lived in the same house for 10 years now. During that time, I’ve noticed that our neighborhood is dominated by a few of the same real estate agents. I can tell you who they are by name and by company. The reason? Besides seeing their info on the for sale signs on houses around the neighborhood time and again, a few of them do a few things that have established themselves as the “real estate experts” in our neighborhood.
- We regularly get direct mail from these neighborhood experts. Many time’s it’s a “just sold” or “just listed” postcard, but sometimes it varies and includes a list of all the listings in our immediate area or mentioning a local event of note to us — concert in the park, etc.
- These real estate experts advertise religiously in our neighborhood newsletter. Not an issue goes by without seeing (now expecting!) an advertisement about their listings and services.
- They are involved in our neighborhood. Go to social events in our subdivision and you see these real estate experts there too. You recognize them not only by name and face from their ads, but you know them because you talk to them frequently — and not always about real estate matters.
- One of the experts has an open house each winter at their home. They invite the neighborhood to stop by, have a bite to eat, chat and drop off a toy for a local toy drive. This good will brings not only more joy to children at the designated charity, but another chance to connect — in person — with not only neighbors and friends, but previous clients — and future clients!
In this day and age of social marketing, it’s great to see examples of real estate professionals who really connect with their community on more than an electronic level.
How are you involved in the communities where you are the real estate expert?
Posted in Networking, Relationship Building.
Tagged with in-person connections.
By Amy Hausman
– August 30, 2010
What Others Are Saying