Agent CEO

7 Habits that will Maximize your Phone Power- Review

2008-05-10T10:32:00.000-07:00

The recent MasterMind Call for HouseValues subscribers with Mike Brooks, aka "Mr. Inside Sales" gave agent's tools to be more confident and productive using the phone.

You see, Mike is an expert in helping agents turn their phones into powerful marketing machines. He shared 7 habits to maximize your phone power. I'll list them here and if anyone wants more details on these points I'll be happy to elaborate.

1. Record yourself. How can you improve if you don't know what you sound like? Trust me, if you're not recording yourself you DON'T know.
2. Use prepared scripts and outlines. Get over your distaste for scripts- they build confidence.
3. Qualify properly. It's as much about disqualifying as it is about qualifying.
4. How to listen. Remember the formula- 2 ears, 1 mouth.
5. How to use trial closes. Mike calls them "pulse takers".
6. Discover unique buying motives. Then tailoring the presentation to those motives.
7.Assume the sale, ask for the order. Whether it's for an appointment or to purchase a home, ASK!

Mike also gave the 5 Golden Rules of Voicemail where he offered tips on how to leave voicemail messages that get results.

At the end of the interview agents engaged Mike with some in-depth questions on what was presented.

SUGGESTION: Go check out Mike's website. He offers a ton of free resources that could help you right away. He also has an upcoming 6 week Teleseminar.

Stay tuned for the May 15th HouseValues MasterMind Call invitation to the blogger community so you can learn from the best of the best.

Foreclosure Template for Emails

2008-04-28T15:46:00.000-07:00

Feel free to use this template. It was created by HouseValues at the request of several subscribers who were asking for a special template that would reach out to people who might be going into foreclosure, without offending them.

Dear {ProspectFirst},

In today’s market, more and more people know someone who is struggling with their mortgage payment as a result of a sharp increase in their interest rate or other loan factors.

If you know someone who is facing a possible foreclosure, I have information that can help. And the sooner we act to help someone in this position, the better the outcome. Because once a house starts to go into foreclosure, it can be difficult to stop and the ramifications can be long lasting:

--the owners may face substantial late fees
--the owners may loose all of their equity
--the owners may suffer with a mark on their credit that will take years to erase

But, this does not have to happen. There are a number of effective strategies to help the homeowner forestall a foreclosure. Renegotiating the loan is one possibility. Two other options are a short sale (sell for less than the loan amount with bank approval), or a quick sale (sell for more than the loan amount but at a lower, more attractive market price).

As a full service real estate agent, I am committed to help clients with all their housing needs. Whether it is to help preclude a foreclosure, pull equity out of their home for investment properties, or assist them in either finding a new home or selling their current one, I have the knowledge and the expertise to make the process go smoothly.

Foreclosure is a nationwide problem, but it’s also in our own backyard. If I can help you or anyone you know hold on to their home (or minimize their losses), please call or email me. I appreciate the opportunity to be your trusted real estate resource.

Warm regards,

2008-03-24T12:03:00.000-07:00

Free Classified Ad Websites

(no particular order)

Agent CEO's need resources like these:

http://www.trulia.com/

http://www.zillow.com/

http://www.postlets.com/

http://www.expo.live.com/

http://www.listhub.com/

http://www.zipeee.com/

http://www.xanga.com/

www.vast.com/real_estate

http://www.hotpads.com/

http://www.freerealestateads.net/

http://www.oodle.com/

http://www.livedeal.com/

http://www.winebusiness.com/

http://www.craigslist.com/

http://www.backpage.com/

http://www.propertyline.com/

http://www.agrisupportonline.com/

http://www.acresale.com/

http://www.base.google.com/

http://www.vflyer.com/

http://www.pennysaver.com/

http://www.worldproperties.com/

http://www.adlandpro.com/

http://www.propsmart.com/

http://www.propertynut.com/

http://www.keepsane.com/

http://www.steveshotlist.com/

http://www.salespider.com/

http://www.listmeforfree.com/

http://www.zadzoo.com/

http://www.activerain.com/

http://www.backpage.com/

http://www.rehablist.com/

www.olx.com/posting.php

http://www.homeseekers.com/

http://www.roost.com/

2008-03-20T12:05:00.000-07:00

Marketing Profs wrote an article today about “Three Small Tips to Juice up Your Personal Branding” by Dan Schawbel (Premium access only) that I thought Agent CEO’s need to know about.

Basically the 3 tips were:
1. Name and Topic Associations
-Make sure your name and topic are always associated
-Pick domain names with either YourName.com or YourTopic.com -Align title tag with domain = getting crawled and ranked by the google gods
-Use name and topic in keyword meta tags

2. The Consistent Brand
-Be consistent with everything about you, everywhere
-Picture, blog, social network profiles, bio, etc.

3. Be Selective in Choosing Your Social Networks
- 3-5 social networks are announced EACH DAY
-Don’t be tempted to join very many
-Doing so presents multiple issues-
~Maintenance- how do you maintain a presence on each one?
~Personal information is open to privacy issues
-Criteria for choosing
~Volume- is the message board active?
~Credibility- is the network noteworthy with ‘high profile’ participants?
~Relevancy- Make sure you fits the networks common denominator

Today’s world on the web makes Personal Branding easy, fun and effective if you follow a few common sense guidelines.

Happy branding.

House Warming Parties Can Pay Off

2008-02-22T15:38:00.000-08:00

Here is a very creative prospecting idea that came from an agent on one of the HouseValues Group Coaching Calls. Lot's of great ideas get exchanged there. Here's what the coach sent over...

"An agent was receiving quite a few referrals from one of her past clients. As a
thank you she went in with her lender and loan officer to offer to catered party
for the client, his friends, and co-workers. He agreed, gave her a list of
invitees, and they threw him a party. At the party they offered to send CMAs and listings to the attendees collecting prospects that way; they also did a small drawing to collect prospect's emails. After the party she went home and put them all into her Market Leader and now they are on an email drip campaign receiving her information. She said that because it was a three way split the expenses really were minimal and if one of them transacts then it will be more than enough to cover her expense."

I'm amazed how this simple marketing strategy has some unique aspects that make it a triple win.

First win- Client. Your client is impressed that you care enough to make the effort to host a house-warming party. Everyone wants to show off their new home to their friends and neighbors. Lots of feel good here that will lead to referrals later.

Second win- The party goers'. All the new owners' friends and neighbors have been dying to see inside. Who doesn't enjoy good food, drinks and company? The guests are super-impressed that THEIR friends' agent would throw such a nice party. Bet those guests wish their agent had done something this nice as a thank you.

Third win- Agent. The agent has created a super-warm (prospect rich) environment. Where else can you put yourself in front of a group of people, in a casual non-business environment where the ‘selling barriers' are down, who are EXPERIENCING your service- the home you helped their friends buy? Woa, does it get any better?
You bet. The cost and ease of pulling a party together could be well worth the while. As mentioned, splitting the food & beverage costs with a lender and title company cuts your costs to a third.

Call the best caterer in town to deliver the food (beyond sandwich and vegetable trays pppllleeeaaassseee) with a large ‘bucket' full of ice. The bucket is for you to show up with beverages, (beer & wine?) to put in it. Usually cheaper than having the caterer do it.

Let's say the average number of guests that show (figure 50% of who is invited) is 20. Allow $15 a head (pretty generous), that's $300. So for $100 and a little time, you are placing yourself among your clients' best friends and neighbors in their home. This whole thing oozes goodwill

None of this works unless the agent can do the personal networking thing to ‘connect and collect' information from the guests. We'll have to save that for another discussion...

HouseValues client closes 64 transactions in 2007

2008-01-22T10:32:00.000-08:00

Naomi Streicker, one of our long time subscribers, called this morning with a tech suggestion. When I talk with our agents, I always ask how they are doing. With 2007 being a rather tough market in some areas, I was astounded when Naomi told me that she had a great year. She is the # 1 Agent in closed transactions from Rockland County, NY. surpassing the agent who has held that position for some time. She closed 64 ½ transactions in 2007. Naomi told me she would not have accomplished that without our support. She credits Market Leader for keeping her organized and on track. Naomi follows the HouseValues system she learned when she began. She still hand delivers packets and believes that personal contact made a huge difference in her success.

Congratulations, Naomi! We are really proud of you.

You're Invited to a Free Expert Coaching Call!

2008-01-09T08:38:00.000-08:00

We would like to personally invite our loyal Agent CEO readers to a very special call. Blanche Evans is the award-winning editor of Realty Times, the Internet's largest independent real estate news service, where she oversees the nation's leading real estate writers and columnists. Blanche has been named one of the "25 Most Influential People in Real Estate" by REALTOR Magazine, recognized as one of nine "Notables," and was named "Top Reporter Covering the NAR."

Blanche will be our guest speaker on the upcoming MasterMind Call, Thursday, Jan 10th at 9:00 am PT.

These calls are FREE to our HouseValues customers, but we wanted to include you to thank you for your interest and support. Blanche will be giving us her insights into the housing bubble and what’s in store for 2008. She’ll discuss market opportunities that many agents have overlooked and specific defenses against commission-cutting. Join this call to get the answers you need to maximize your income in 2008.

This is a great chance to hear one of our favorite industry experts share her insights into the market and give us some smart tips for 2008.

Call this number: 1-800-349-8037 and enter in the code: 759380# when prompted to join the call.

Final Thoughts from NAR

2007-12-18T15:47:00.000-08:00

Max Pigman, VP of Realtor.com mentioned a smart idea for today: Every year on an anniversary of closing, hand deliver 9 volt batteries. He also said that if you are going to mail, come up with something clever and different. Instead of JustListed or JustSold, say something like, “Guess what your neighbor did last night?”

Pigman said that discount cards are a hot topic right now: energy saving appliances, or giving your clients energy saving light bulbs.
(I really like that idea!)

I also heard that people on CraigsList are getting 4-7 times as much traffic as other sites. That surprised me since there are many popular classified websites for properties. I do not have the source for that information, so don’t quote me. But, remember, it is a FREE site to use to post your listings.

And, finally Amy Chorew provided an excellent class on, among other things, how to turn photos into a video presentation to use as a virtual tour. The site, Microsoft’s Photo Story 3 for Windows, offers this service for FREE. It was an excellent presentation and the product seemed easy to use. Check it out.

Thank you for your interest and support throughout 2007. I’ll be on vacation during the holidays and back with new ideas to kick off 2008.

Have a joyful holiday season and a profitable 2008!

More Still From NAR

2007-12-04T14:58:00.000-08:00

How Are You Marketing Your Listings

According to Max Pigman- VP Realtor.com at the NAR Convention, market conditions are a matter of perceptions- real estate is local. There are always people who need to buy and/or sell.

The consumer changed, according to the NAR 2006 Profile of Home Buyers and Sellers. Now 80% of consumers use the Internet!

Consumers said the most useful source of info is:

98% Internet
89% Realtors
81% of Internet buyers used a Realtor vs. 61% of traditional buyers

Buyers:

Are 500% more likely to find the home they want to purchase online than in the newspaper
Buyers are 2400% more likely to find the home they purchase online than in a magazine
92% of Internet buyers found an agent on an aggregate site
83% of online consumers want multiple photos
There were 330% more views for homes with multiple photos

Yet, only 15% of agents have multiple photos!

Today, in order to be successful, you need to market online with multiple photos and virtual tours.

More from NAR

2007-11-26T13:13:00.000-08:00

Presented by: John Tuccillo – former NAR chief economist (before Lereah)

*What’s next:
Having traveled overseas recently and looking at the international news, John believes oil will hit $100 per barrel. We are accumulating 4 billion dollars of debt per year from foreign governments. The falling dollar will slow recovery.

*We need to look at stats available from the MLS in all areas of the US:

Number of new listings on the market (sellers need a reality check)
Days on market (Faster turnover is a sign of market pick-up)
Sales price to list price ratio (Disappearing price cuts signal a turnaround)

*When the market turns around, there will be a “tsunami” of first time buyers and they will be Gen X and Y.

*Boomers comprise the second home market. They are used to relationship marketing.

*With Gen X and Y, there will even be more of a need for tech mastery. Gen X and Y do not want to be emotionally involved. There needs to be new channels of communication for these generations.

*The demand will begin in 2010 and skyrocket until 2015. This wave will be bigger than the boomers.

*A website is equivalent to indoor plumbing- a necessity. It is entry level technology.

*Consumers will control what they want to see, how they see it and when they want to see it:

Blogs, podcasts and chat rooms are the channels where these generations will receive their information. They like anonymity rather than relationships.

Today- you MUST treat real estate as a business:

You HAVE to have a business plan. There was a survey of 800 Realtors, only 2/3 had a plan. Consumers want convenience. Agents should be the force to get the transaction closed. It has to be all about the consumer.

Value proposition for 2008

Know your customer
Provide service
Provide convenience
Save them time
Eliminate or minimize stress

Competencies you need to know how to do in 2008

Counsel the consumer- added value
Be a good negotiator
Be a good manager- be able to take care of contract to closing

News from NAR

2007-11-21T14:29:00.000-08:00

I had the opportunity to attend the NAR Convention in Las Vegas last week. I was interested in hearing what Lawrence Yun, NAR’s new Chief Economist had to say about the marketplace. His topic was: Economic Issues & Residential Real Estate Business Trends Forum

He said 2008 is a year of opportunity. While sales are down in 2007, it has still been the fifth best year ever in real estate. He mentioned this is because all real estate is local- like the weather. You can’t give an average weather forecast for the nation. You give a forecast for a city or a region.

Prices were down nationally 1 ½% after a run up of about 50% in many regions over the past 5 years. Sub-prime loans affected less than 10% of all homeowner nationwide. Yun was optimistic seeing a rebound in 2008 due to the following market conditions:

GDP of 2.8%
Job growth of 1.1%
Inflation to remain at slightly under 3%
Interest rates to rise only slightly

He believes because sales are down this year and though there have been fewer construction starts, there will be strong pent up demand in many areas. That was very good news for the audience of Realtors.

Part II- Is Now the Time to Retreat? Hardly!

2007-05-17T08:52:00.000-07:00

Here is the rest of the article.

They pay close attention to customers' concerns. It is important to know how to handle the concerns of sellers whose homes have not yet sold, and who may pressure you to advertise their homes every Sunday in the local newspaper.

It is vital not to feel pressured to spend ad dollars where you may not get the results you know you need for them and for you. Some ads work, but be careful to not overspend in print. Only 20 percent of potential buyers even look there. Make sure you get the best return on your dollar.

They are consistent. Indeed, consistency is key. Many agents tell me that mailing 200 to 300 pieces consistently, rather than 1,000 just once, is much more effective. Their advice to you: Don't spend money on an expensive four-page glossy printed brochure that, while pretty to look at, won't generate many leads. Instead, send "Just listed/Just Sold" postcards into your neighborhoods for each listing and sale. Use the tried-and-true language, "We have just listed … ."

Tease them to your website by offering something of value. The goal is to drive prospects to your site so you can capture their information and provide them with the information they want, like a report on how to prepare their home for sale, a free home evaluation, information on listings as soon as they come on the market, etc. Some agents have even printed business cards with the photo of the home, the web address and some of the property details on it. It is a cost effective way to advertise. Business cards are much less expensive than postcards.

They are creative. Finally, agents are telling me that now -- more than ever -- is the time to get your creative juices flowing, and to be smart. That means watching your budget, but it also means not holding back on your lead-generating activities. Spend in those areas that will help you obtain new business and enable you to build a pipeline of prospects that will help you flourish -- no matter what type of market may come your way.

Is Now the Time to Retreat? Hardly!

2007-05-08T09:49:00.000-07:00

[I just wrote this article for Realty Times and thought I’d share it here. Because the article is kind of long I’m putting it out in two parts. Enjoy!]

Sure, market conditions have shifted in many parts of the country.

Cause for despair? Hardly.

You can still make as much money this year as you did last year -- and even more.

How?

Start by forgetting everything you think you know or have been told about operating in this type of challenging market.

Many agents make the mistake of retreating when the market shifts like it has over the past year. They cut back on spending, on advertising and marketing, and on what they hope to earn.

Don't join them in that trap.

Agents who build and maintain a large, healthy pipeline of prospects do not worry about changes in the market. Truly, they don't. Instead, they continue to close business, because they have a steady stream of customers to work with.

Here's what these top agents are telling us right now about this particular market and how they're meeting its challenges head on:

They are not cutting marketing dollars. Their advice to you: Market now more than ever. The key is to spend your marketing dollars wisely. Now may not be the time to spend much, if any, on image marketing or branding; rather, target your dollars on efforts that will generate prospects. Analyze what is working and what isn't. Track where your business is coming from. Spend more there and eliminate the ad buy that doesn't bring in prospects. A word of caution: You need to give this time to work. Don't just try something for a week and drop it.

They are advertising online. No big surprise here: According to the National Association of Realtors (NAR), 80 percent of consumers search for information about homes online -- and trust me, that number is only going to grow. Consider the vast array of information consumers can now get online: multiple photos of homes, neighborhood information (check out HomePages.com), virtual tours, mapping technology, and even printable fliers with detailed property information.

Homes with multiple photos are viewed 299 percent more than those not offering multiple views. That is not a typo. Take advantage of online ad opportunities. For example, the enormously popular Craiglist.org lets you advertise for free. Google and Oodle are other options for ads. Your goal should be to advertise your listings and services 24/7 and not be limited by local distribution like most newspapers and magazines are. An individual webpage per listing is becoming more and more popular, and is a very cost-effective way to advertise.
My next post will continue the article with 3 more ways to meet the challenges of a changing market.

Internet Lead Generation: Boom or Bust?

2007-04-20T09:25:00.000-07:00

Many agents are debating to whether or not lead generation services are here to stay or may be gone tomorrow.

Internationally recognized real estate expert Ralph R. Roberts says “By embracing this new technology, you can capitalize on a host of new opportunities. Resist the change, and you're likely to become technology's latest casualty.”

Ralph mentions several real estate lead generation services, including HouseValues as industry change agents saying “this technology is only the most recent to affect the way we do business on a daily basis.” He goes on to outline three pieces of sage advice: embrace change; master new technologies; market wherever your customers go.

Read Ralph’s article to decide where you stand as an AgentCEO.

Crazy Cheap Marketing Idea?

2007-02-27T13:09:00.000-08:00

YOU DECIDE...

I was reading an article about marketing in one of my favorite newsletters from Roy Williams “MondayMorningMemo” where he was listing 10 Unusual Ways to Advertise. One of them caught my attention as possibly something an AgentCEO could use.

“Nighttime Silhouettes. You've probably never seen one of these… which means no one else in your town has seen one either. First, locate a tall wall in a part of town that has lots of traffic at night, especially foot traffic. Then arrange with the owner of that building – and the building across the street – to let you install a logo projector. They're effective and cheap. In some situations you can even use an old slide projector to achieve the desired effect.”

Now just imagine you find the right building with good traffic and you FEATURE A LISTING! Wouldn’t that catch peoples attention? Keep the message simple and your contact information BIG along with a nice picture of the listing.

If you try this let us know how it works out. We could be on to something here.

Help Save the Planet and Money in Under 5 Minutes

2007-02-23T12:15:00.000-08:00

Help keep your bills low and the planet healthy with these easy energy savings projects.

Of course AgentCEO’s want to save money. Now you can save money and the planet by making your home and office more energy efficient.

(By the way, feel free to send these tips to your own customers and prospects.)

Here’s a list of 5 energy saving tips that take 5 minutes of less to complete.

1. Go Fluorescent- $60 savings

While fluorescent light fixtures may be a thing of the past, fluorescent bulbs are here to stay. Replace your incandescent bulbs with compact fluorescent ones--they are four times more energy efficient. New types of fluorescents provide a much more natural-looking light. This quick mini-project can save you about $60 a year on your utility bills. Fluorescent bulbs will set you back about $4.00 apiece (buy them in bulk). Of course, if you’ve got fluorescent tube lights already but want to replace them, talk to folks at your local lighting showroom or a well-stocked hardware store. There are newer tubes that emit a warm, almost sun-like glow.

2. Get Reflective

If replacing your old windows isn’t within your budget this year, think about covering the glass with a protective film. Found at any home improvement store, this film keeps retain heat during the winter and reflect it in the summer. Some brands boast up to a 70% reduction in heat during those hot months, which is good news if you aren’t lucky enough to own an air conditioner! Other pluses: the film can prevent your belongings from fading due to sun exposure.

3. Bundle Up…

Your Water Heater. Heating water requires a lot of energy and costs a pretty penny, so insulate your water heater with a kit purchased from your local home improvement store. The cover will only set you back about $10, but can save you up to 25%-40% on your water bill by retaining the tank’s heat, thereby using less water. (You can also make a cover with fiberglass insulation and metallic tape, but don’t wrap the flue collar or burner access.) If your unit is less than 7 years old, it probably is already insulated and doesn’t need to be wrapped, but you can insulate your hot water pipes instead for added savings.

4. Vacuum Your Fridge

As if you don’t have enough to clean, now we are telling you to vacuum your fridge! But because it’s on all the time, your fridge accounts for 8% of your home’s total energy expenditure, so this is a worthwhile project. First, take a peak behind your fridge. If there are big black coils mounted on the back of the appliance, they don’t need to be cleaned. If you aren’t so lucky, unplug the refrigerator and move it away from the wall. Check the manual to see where the coils are located (most likely underneath). Next, remove the plate protecting the coils and using a static cloth or a vacuum with an attachment, clean the dust off of the coils moving from front to back. Replace the plate when you are done and plug in the fridge. Experts recommend that you clean the coils once every 6 to 12 months, depending on your lifestyle. (If you have pets or live in an area that’s prone to dust, it’s best to clean them more often.)

5. Change your Settings

If it isn’t already, turn your water heater to 120 degrees Fahrenheit; you don’t really need tap water any hotter. This works both as a safety measure especially if you have small children as well as a money saving tip. When you aren’t at home, remember to turn your thermostat down to 58 degrees so that you aren’t heating an empty house, but warm enough to keep things from freezing. In the winter, keep the temperature at 68 degrees Fahrenheit; in the summer, aim for 78 degrees. Installing a programmable thermostat is a fantastic way to ensure the device is always where you want it to be.

Finally, check all of your appliances for energy saving setting options and switch them over accordingly.

Additional energy saving tips and resources can be found at this US Department of Energy site.

Extra Dose of Productivity- get it while it's hot

2007-02-20T11:24:00.000-08:00

What can I do personally to be more productive?

My friends over at Accuconference have compiled an excellent list of personal productivity suggestions. Here’s the first ten points in a two part series.

Accuconference is the conference call vendor HouseValues uses for all their teleclasses and MasterMind Calls. Good bunch of people to do business with if you ever need any help setting up teleconferences.

Here are the 10 points- click this link to see the full article. You may be surprised at some of the suggestions.

1. Utilize Technology
2. Stop Distractions
3. Establish Boundaries for Others
4. Reward Yourself. (I especially like this one :-)
5. Regular breaks
6. Have a Schedule
7. Goals (We know all about this one right?)
8. Procrastination
9. One Thing at a Time
10. Get Comfortable

After you read the article, pick out one point and go about implementing it ASAP. Be the rolling stone that gathers no moss.

Taming the email monster

2007-02-15T14:58:00.000-08:00

Help, emails are taking over my life

Successful AgentCEO’s learn early on how important it is to streamline repetitive activities. And what could be more repetitive than emails. An informal survey showed agent’s get from 50 emails a day on the low end and up to 500 A DAY on the high end.

In the past I have been email challenged and was desperate to get the tidal wave of emails under control. Over time I’ve discovered a few tips ranging from pretty basic keyboard shortcuts to tricks like setting up rules & filters. Here’s a few of them to try out. (These tips work in Outlook)

> Hold Shift key to select multiple emails. Handy for deleting bunches of spam- be careful to not select a ‘good’ email.
> Use the Control key to select specific emails all at once. Use this feature to select certain emails to move to a folder.
> Use Copy feature to put an email into multiple folders. This is really handy when it’s an important email and want to be able to find it. I figure if it’s in more than one folder I’m increasing my odds of finding it. Just highlight the email in the Inbox, go to Edit, select Copy to Folder, select folder and hit OK.
> Create folders for everything regular.

Here’s a sample structure

Inbox----

__1_ReviewDaily----

__2_WaitingForResponse----

__3_ReviewWeekly----

Business--------

Clients------------(various client folders with sub-folders)--------

Vendors------------(various vendor folders with sub-folders)--------

Ezines------------(various ezine/newsletter folders with sub-folders)----

Personal--------

Family------------(various family member folders with sub-folders)--------

Friends------------(various friends folders with sub-folders)

I have a folder set up for just my boss, a folder set up for emails from other people in my department, and then a folder set up for company wide emails. It has made reading my email so much easier, just to have the ability to go directly to the appropriate folder. It also makes it so I don't miss important emails. Since I have a folder set up for my boss, I can see immediately if he has sent me any emails when I come in each morning. The whole set-up makes for much less "missed emails".

Use Rules:I also use rules extensively. In particular, when working on a project and I have a lot of communications between a client or partner, I will create a rule to place all incoming mail in their root folder and all my messages to them in a subfolder beneath their folder called SentTo for the individual or company.

You can create a rule to automatically move specific messages into the appropriate folder. To create such a rule, open the “Tools” menu and select “Rules and Alerts.”

Finally, move old emails to Archive on a regular basis.

Now that you have all those emails tamed and in order, don’t you feel better?

Here’s a link to some in-depth Microsoft training on how to manage emails.

Top 11 Marketing Budget Wastes—and How to Avoid Them

2007-02-09T08:20:00.000-08:00

Part 4 of a 4 part series

Marketing Waste No. 9: Losing people on your Web site

Today’s Internet consumer, (which is a bit of an oxymoron given nearly 75% of US households have Internet access), start looking for real estate information online typically when they are in the early thinking about moving stage. This means you want all marketing roads to lead to your web site.

The first thing you need to make sure is that your Web site content is of interest to your prospects. The second thing is to have calls-to-action that will get your Web site visitors to engage—view a video, download a whitepaper, fill out a survey. Offering free information designed to appeal to the information gather’s will make it easy for the prospect to engage you on their terms. Offer CMA’s, updated listings, buyer/seller information packets, how prep home for sale tips, etc.

Last, you need to make sure that you can track these interactions. With this information in hand, you can fine-tune your follow up to match your prospects' interests and avoid wasting valuable marketing and sales resources.

Marketing Waste No. 10: Not knowing what you get for your money

Every marketing activity should be attached to a measurable goal. If it's not, you probably shouldn't be doing it. A measurable goal could be number of leads, number of new contacts, number of downloads, deals, all the way to revenue dollars. See more about it in "How to Measure Your Marketing" and "Measuring Marketing ROI—How Low Can You Go?"

Marketing Waste No. 11: Not taking action on what you’ve just learned

One or more of these money wasters probably hit close to home. The key to marketing optimization is continually weeding out the budget drainers while seeking new ways to deliver greater market impact at lower cost. If you're looking to do more with less, you must be willing to embrace change. As the saying goes, "You cannot continue doing the same things and expect different results." Take the time to set a new, super-efficient marketing plan. Think about the savings.

Top 11 Marketing Budget Wastes—and How to Avoid Them

2007-02-02T19:26:00.000-08:00

Part 3 of a 4 part series

Marketing Waste No. 6: Direct mail and rental lists

Email promotions to your permission-based list will usually generate response rates that are 5-10 times higher than email to rental lists and 10-15 times higher than direct mail, at a fraction of the cost. As a result, cost per response from your email list can be over a hundred times lower than for any other method. In addition, turnaround time for email promotions is shorter, which means you can communicate in a more timely fashion.

A good permission-based email list is your biggest marketing asset and your best lead-nurturing vehicle. At the same time, if your email is not permission-based, you run the risk of breaking the law and alienating your audience.

Marketing Waste No. 7: Failing to use your permission-based list

You don't want to inundate your prospects with too much communication, but keep in mind most agents fail to communicate enough. Newsletters and blogs and email drip campaigns are great vehicles to keep the communication flowing. One to two ‘automagic’ touches a month (emails) and a personal touch (phone call, handwritten note) quarterly is a basic formula. As your pipeline reaches into the thousands you’ll need to modify the formula.

Your prospect customers are eager for knowledge; so, as long as you keep your content relevant (see # 4) to your audience and tone down the sales pitch, most of them will welcome your emails. For those who don't, offer ways to opt out of specific items so they don't have to remove themselves entirely from your list.

Marketing Waste No. 8: Failing to get the most out of your email marketing

A well-designed message (not necessarily a pretty one) can increase response to your emails by up to 50%! That's a huge difference in the return on your marketing dollars.

There is no magic formula for a good email message. To make sure your message is well designed, you have to test every element of the message—from the subject line to the placement of the links and the call to action (offer).

To be continued tomorrow…

Come back for Part 4 with details on:

Marketing Waste No. 9: Losing people on your Web site
Marketing Waste No. 10: Not knowing what you get for your money
Marketing Waste No. 11: Not taking action on what you’ve just learned

Top 11 Marketing Budget Wastes—and How to Avoid Them

2007-02-01T13:11:00.000-08:00

Part 2 of a 4 part series

Marketing Waste No. 4: Killing the conversation

Killing the conversation means a couple of things that can waste leads. First is remembering you are making a service call not a sales call. Second is making sure there is a sequence or continuity to your conversations with prospects, whether email, phone or in-person.

Distinguish yourself by making service calls instead of sales calls. Crudely put, don’t call up and say “Are you ready to move yet, if you are I can be of service.” THAT is not a service call. A service call offers information relevant to each prospect.

For example you may have a number of homeowner prospects who have been in your database for a year or more. A “customized” conversation/email for this group might go something like: “Hi Mary, it’s [name/agency] again. I’m calling because I have a special offer for people who have been in contact with me for a year or longer, it’s a free report on [pick a subject like “Changing market conditions- Is now a good time to sell” or “Local real estate trends” using MLS info on average sale price, DOM, % of asking price, etc. Consumers love this kind of info when it’s local and just for them]. Would you like me to email you a copy?” Then end the conversation unless they want to talk. Surprising, many will.

Be sure and leave a voice message with the same offer. Start thinking of voice messaging as highly targeted, personalized marketing. Don’t worry if they don’t call back- you’ve already left a positive ad impression.

Second, make certain your communications have continuity and relevance to your prospects/clients. Example- don’t send “First Time Buyer” information to your homeowner prospects.

So don't leave it to chance: If you're putting together an email drip campaign, make sure you have several templates for different prospect categories. For example,
Market Leader has 7 pre-written drip campaigns to subscribe prospects to, like Long Term Buyer or Short Term Seller, Past Clients, even one for FSBO’s. Some last a few months, some years. This type program enables the Agent CEO to have Systematized Prospecting and Personalized Transactions.

Marketing Waste No. 5: Overemphasizing new leads

While “old school” agents might dismiss some leads as "old”, today's savvy agents know those are actually the best leads. Consumers typically require multiple touches before they are ready to engage in any type of dialog. They usually prefer their anonymity until they're ready to raise their hand to take the next step. Multiple ‘soft touches’ (see #4) builds trust with your prospects.

If you continue pursuing only new leads, you may find yourself out of budget. It takes far less money to cultivate long term relationships with existing prospects than only going after new ones. This doesn’t mean stop marketing for new leads, but rather find a balance of resources to manage your existing prospects/clients.

To be continued tomorrow…

Come back for Part 3 with details on:
Marketing Waste No. 6: Direct mail and rental lists
Marketing Waste No. 7: Failing to use your permission-based list
Marketing Waste No. 8: Failing to get the most out of your email marketing

Make it a successful day

Top 11 Marketing Budget Wastes—and How to Avoid Them

2007-01-31T17:42:00.000-08:00

Part 1 of a 4 part series

Hopefully by now you have put together a

business plan that you are in the process of implementing. Marketing is usually a major item in the plan being that most of us need to keep generating new business. It’s also a category that is easy to overspend and waste money in.

Take this opportunity to re-evaluate what you have been doing and how you have been investing your marketing dollars to build your real estate business. Below are a few suggestion on how to do more with less.

To help you get started, here are some common marketing budget drainers to avoid.

Marketing Waste No. 1: Customers dictating were to spend to market their house

I hear agents saying “my customers expect me to advertise in the newspaper/magazines if I’m going to get the listing”. This is nonsense. Position yourself as the marketing expert, showing your client

comparison charts of where consumers are going for home buying information (hint, not the newspaper since 70 percent of consumers start the buying and selling process on the Internet.] Demonstrate why your marketing plan is more powerful and back it up with proven results, like fewer days on market than the local average or higher percentage of asking price than market average.

AgentCEO’s are showing clients innovative and effective marketing strategies like

www.homepages.com where, once a listing is entered by the agent, it automatically starts showing up on google, oogle and other search engines.

Marketing Waste No. 2: Trying to generate only ‘qualified’ leads

Regardless of what type of marketing you use and the type of leads generated, they all have value. Attempting to reach the ready, willing and able buyer at the moment they are ready to take action is not only costly but puts you on par with every other agent trying to reach this tiny market. Move upstream. Plan marketing that reaches consumers in the thinking about moving stage. This can be accomplished by advertising information offers like “BEWARE FIRST TIME BUYER’S” guide with new home buying tips. Or, “FREE HOME EVALUATION” to attract seller inquiries.

Develop as large a pipeline of prospects as possible then follow No. 3.

Marketing Waste No. 3: Failing to follow up on leads

Invest in lead-development software commonly referred to as CRM (Customer Relationship Management).

HouseValues customers use a product called Market Leader to manage a pipeline of leads ranging from hundreds to tens of thousands. Market Leader features automatic email drip campaigns, ePostCards, text messaging lead notification and links from their websites to capture prospects and dump the data directly into Market Leader.

Other online and software packages can accomplish similar marketing tasks. Having automatic follow up software enables you to treat all leads the same in your pipeline with little additional effort.

Many AgentCEO’s don’t just rely on email communication to follow up. Occasional phone calls, direct mailings, even ‘drop-by’s’, keep you as the agent of choice when the prospect is ready to take the next step to move.

To be continued tomorrow...

Look for Part 2, details on Marketing Waste No. 4: Killing the conversation &

Marketing Waste No. 5: Overemphasizing new leads

Which trend in 2007 do you think will most affect your business and why?

2007-01-16T16:55:00.000-08:00

Everyone's putting out their best guesses for what 2007 will look like. Do you know how the different trends might effect your business?

The Realestatejournal.com (part of Wall Street Journal) says “Home Prices Expected to Rise,Sales to Drop Slightly in 2007”.

In its latest forecast, the NAR said sales of existing homes are likely to decline about 1.2% this year to 6.42 million, following a sharp drop last year, while sales of new homes are seen falling about 9.7% to 957,000.

Which trend do you think will have the most impact on your business?

Will it be:

* Interest rates

* Higher inventories

* Longer Days On Market

* Consumer demands

* Other ____________?

Which will impact you?

Thanks for sharing, next week we'll discuss stumbling blocks to success.

13 tips for selling your home in winter

2007-01-11T09:28:00.000-08:00

We’re in the middle of winter and the buyers are scarce. The good news is the buyers that do come along usually are motivated. But given current market conditions, sellers need to be aware of what they can do to put their home at the top of a buyers wish list.

Bankrate.com offers some practical, easy to implement tips for sellers to improve the showing of their home. Keep this list handy for the next listing presentation- your sellers will be impressed with these easy tips and thank you.

Click on any of the tips for more details.

13 tips for selling your home in winter

1. Keep snow and ice at bay.
2. Warm it up.
3. Take advantage of natural light.
4. Get the windows washed.
5. Play music softly in the background.
6. Make it feel comfortable and cozy.
7. Emphasize winter positives.
8. Set up timers.
9. Make it festive.
10. Give the home a nice aroma.
11. Protect your investment.
12. Use the season to your advantage.
13. Consider the area.

Tips provided courtesy of Bankrate.com.

Is TV advertising possible?

2007-01-08T17:46:00.000-08:00

In the last few months I’ve watched as HouseValues has been introducing Agents on TV to a few select markets, wondering how TV could work for agents? Until now television had generally been thought of as too expensive both in air time and production costs for a decent commercial.

The other day in the hall I ran into one of the Agent on TV Account Executives and asked how it was going. She said great and how excited she was to have heard back from one of her first Agent on TV customers. This email she forwarded to me from her client pretty much answers my question.

Hello Debra,

Just wanted to send a quick note and let you how the first couple months have gone with the Agent TV program. Although I was promised 10 commercials per month Our commercial has played an average of 38 times per month driving significant traffic to both my Homepages website and in turn to my personal website. In November my impressions on Homepages jumped 305% compared to September which was prior to the commercial airing.

Those numbers, and having the ability to feature someone's home on REAL TV channels, has been a definite selling point during listing presentations. I have narrowed my presentation down to 8 pages now and the Agent TV and Homepages are two of my key staples. This has already been more than I expected honestly, customers are already saying yes to me after page one! Plus, I am able to charge a premium for my services as I am offering options almost no one else can.

A huge addition (and please don't charge me additional for this!:) is that I have had a homepages account for my area (Rogers, MN) for a year and averaged maybe 1 lead per month, over the last 3 months I would say I've averaged 5-6 new Homepages leads per month, some of which I have already started communications with. This to me is just a bonus as I really signed up for Agent TV for the listing support and market branding. I truly feel at this pace, these leads alone will pay for the product. I'm sure other agents who are signed up for Homepages in my area are also seeing a big increase in leads and are probably wondering what's up!

Bottom line, I'm really happy with the product and a large part of my satisfaction has been working with you. Your responsiveness and dedication to the start up of this product has been really appreciated. Getting me an express DVD copy of my commercial so I could show off my new advertising to other business professionals at a business expo was really awesome and beneficial. Also, assisting me in getting additional advertising items has been extremely helpful.

I just wanted to thank you for all that you've done. This is a great opportunity for us to differentiate ourselves from the competition! Between receiving the leads through JustListed.com and in turn selling them on services like Agent TV and Homepages, HouseValues has been great for my business and will be an integral part of my business plan for years to come.

Thanks for everything Debra.

Sincerely,James
James Berg, REALTOR®, e-PRO®

Go to http://www.agentsontv.com/ to see commercial demos, take a tour, and get other information about Agents on TV.

Cost of electricity by state

2006-12-26T10:21:00.000-08:00

Do you know where your state ranks for cost of electricity?

Sometimes it's nice to have a useful piece of trivia to share with buyers, especially relo's from out of the area.

Here is the list of states by ranking. Looks like it's pretty expensive in paradise.

State Electricity Price, 2005(cents per kilowatthour)

Are consumers active during the holidays? Are you?

2006-12-15T15:42:00.000-08:00

About this time each year we can hear agents saying business is so slow, no one buying or selling, I'm going on vacation. Here's several pointers to get you charged up about doing business NOW...while your competition takes a vacation. (Not that I'm against taking vacations!)

High Activity At The End of the Year
· Last year, more than $225 million in homes were sold during the fourth quarter nationwide
· That was down just 1% from the previous (third) quarter nationwide
· In many markets, volume was actually up from Q3 to Q4
· Consumers are still active on the market, and if you’re not active, then someone ELSE is going to get that business

Differentiate Yourself by Staying Active
· If your competitors take the holidays off, that’s less competition to go out and win more business
· It will mean fewer agents competing for listings, fewer agents showing homes…more business for you
· This includes continued capturing and cultivating of business

How Are You Setting Up Business for January?
· You need to build your pipeline NOW to get business in early 2007
· If you don’t set yourself up with early business, how will you start the year strong and meet your goals?

Join Other Agents Who Build Their Business in December
· HouseValues subscriber Donna Harris made more than $100K last year from HouseValues, and was at her busiest (and most successful) during the holidays in 2005
· Countless other HouseValues subscribers have used their November & December leads to both score immediate business, and set up deals for the beginning of the next year. Make sure you are responding to your own lead sources quickly.

Have a great holiday season.

10 Best Practices Real Estate Agents Should Incorporate in 2007

2006-12-11T15:10:00.000-08:00

Where will you be in 2007?

Agent CEO’s plan their work, then work their plans. This list will help cover key aspects of your business to insure a profitable 2007 regardless of market conditions. Use this time of the year to plan for your best year ever, establish practices that separate yourself as the outstanding real estate professional, not the foolish one.

With these thoughts in mind, here is The RealtyU® Group's list of Top 10 practices that could change your real estate career in 2007.

1. Learn to Create a Real Estate Business Plan You can ride through any downturn in the real estate market if you have a sound real estate business plan. Learn more about planning at www.realestatebusinessplanning.com or create your own real estate business plan at www.createaplan.com.

2. Pick a Niche There are many great categories or markets to specialize in: Luxury homes, military housing, middle income, ethnic communities, age specific, new families, etc. At the top of many agents' list is the goal to obtain their ABR® designation (www.rebac.net) and ASR designation (www.selleragency.com) making them experts in both buyer and seller agency. The ASR designation can now also be taken online at http://www.realtyuonline.com/asrcourse/seller-agency.htm

3. Search Engine Optimization It makes no sense if you have a great Web site and no one can find you. Learn more about search engine optimization and how to improve the ranking of your Web site on Google, Yahoo! and MSN.

4. Improve Your Marketing Use highly identifiable and recognizable brochures, hand-outs, business cards, flyers, mail outs, personal letters, billboards, bus signs, etc. that will imprint you as unique and advantageous on the consumers' mind. For real estate marketing ideas visit www.quantummail.com, www.sharperagent.com, www.imprev.com, www.lowesrealtorbenefits.com or www.tpmco.com.

5. Get a Mentor and Follow Success Why re-invent the wheel when just about every real estate success story, strategy and marketing tool has not only been documented but is available. iSucceed has done it for you. They have interviewed more real estate Top Producers than any other company in the industry and offer hundreds of hours of audio and thousands of pages of information on the Internet 24/7.

6. Improve Your Knowledge and Skills A slowing real estate market is always the best time to invest in improving your knowledge and skills. The Internet has now made online real estate education easier and more convenient than ever before. A huge selection of online real estate courses as well as appraisal and home inspection courses can be found at www.realtyuonline.com. In addition, searching for offline classes is now easier than ever, just visit www.coursedates.com or search for a real estate school at http://www.realtyschools.com.

7. Check out Lead Generation This is definitely a growing trend. If you have not yet explored a lead generation program, 2007 is the year to should do so. There are various interesting options - to learn more check out programs such as HouseValues. All of these companies are improving and expanding both their quality of leads and the follow up support necessary to insure their success.

8. Use Transaction Management Systems Everyone wants one-stop shopping. Most of the large Title companies have made great strides in this arena - for more information visit First American Title at http://residential.firstam.com/agent/index.html or at Fidelity Title.

9. Learn to Blog Real estate blogging is hot and thousands of real estate blogs have already been created. One of the best in the real estate industry is www.realblogging.com where 40 of the industry's leading authors, real estate speakers and other experts have come together on one blog site. EBlogger is a great place to start.

10. Stay On Top of Real Estate Trends Nothing stays the same and the real estate industry is not exempt - change is real. Read as much as you can about trends affecting the industry such as the wave of new real estate business models. Real estate is a very dynamic industry and market shifts can alter a competitive advantage very quickly. Watching the industry's movements can help you maintain an advantage you currently enjoy or offer you a new opportunity. The best report is the Swanepoel Trends Report - available at the online www.realestatebooks.org.

Five Proven Ways to Waste Money With Pay-per-Click Advertising

2006-11-24T09:39:00.000-08:00

Many of today’s more technologically savvy Agent CEO’s are using pay-per-click (PPC) as part of their overall marketing strategy. MarketingProfs.com recently wrote a handy article to point out the most common mistakes made with PPC so that your efforts can begin generating results as quickly and efficiently as possible.

This short article shows five common mistakes marketers make in using PPC services and how to avoid them. Here’s the five mistakes, check the article for details.

Mistake No. 1: Use your homepage as the landing page
Mistake No. 2: Don't bid enough to secure a top spot
Mistake No. 3: Don't make your ad copy specific
Mistake No. 4: Don't align your landing page with searchers' keywords
Mistake No. 5: Don't bother with testing

While you’re over on the MarketingProfs site, why not register for their newsletter? They provide a lot of cool marketing ideas for free.

Send Free Postcards of Support to US Troops Overseas

2006-11-20T10:27:00.001-08:00

I’d like to start off this Thanksgiving week with something very touching, a THANK YOU message you can easily send to our troops serving overseas. Xerox has put together a “Let’s Say Thanks” program that makes it easy to send a heartfelt greeting card to show support for our troops.

After you have selected one of the cards drawn by children from around the United States, put on your Agent CEO hat and think about how you can get this message out to your prospects and sphere. You could put a message in an email with the link and send it to everyone and/or put a link on your website. The stories on the site are so touching you are sure to get some positive feedback.

After you have done that, take a quiet moment, think of our troops overseas on Thanksgiving Day, pray whatever prayer you pray that our troops will come home safe, and then, be grateful for all we have to be thankful for.

http://www.letssaythanks.com/

Home Price Increases by Metro Areas

2006-11-17T07:45:00.000-08:00

Do You Really Know Your Market?

In these changing market conditions it’s vital to stay on top of pricing in order to make the most informed recommendations to your sellers and buyers. The headlines are full of “the market is crashing” type articles that glum onto one or two negative national statistics. You need to be able to sift through the frenzied media to find local, relevant information to look for trends in your market.

Look for your price ranking among the 270 Metropolitan Statistical Areas (MSAs). Maybe your market will be among the top 20 with highest appreciation. You might be surprised where they are.

10 Cheap Fixes to pass on to your seller's

2006-11-16T14:31:00.000-08:00

As listings stay on the market longer and buyers are being pickier, the 10 cheap fixes I read about on MSN Real Estate makes for a good list to offer your sellers.

Remind sellers that changing market conditions necessitate making the house as presentable and appealing as possible if they want to get offers. Some of these inexpensive renovations will actually increase the home’s value. Use this list to get your client’s thinking along the right lines, right away.

You Are Mighty!

2006-11-15T08:06:00.000-08:00

If you need a pick-me-up, this site is for you.

Simply take your first name, and replace the "www" of the Web site with your first name. An example:

http://Claudia.YouAreMighty.com

If you want first and last name, you can do that with an extra word and extra period. Just like:

http://Claudia.Wicks.YouAreMighty.com

Make sure your speakers are turned up. Do this for yourself, for a friend, maybe even a client or two that you know well. It almost always generates a smile!

Here's an example of how I've put this together for a friend in the industry. Not a bad reminder every morning as you go out to achieve and exceed your goals!

Fine Print Traps

2006-11-10T10:34:00.000-08:00

No, I’m not talking about hunting season. I’ve discovered a web site called “MousePrint” that points out the fine print in advertising, a contract or a product label that is often tucked away out of easy sight. Their stated purpose is “The goal is to help educate the public about the catches or “gotchas” in disclaimers, and to encourage advertisers to abandon the motto, ‘the big print giveth, and the little print taketh away.’”

When you start looking at these blogs, like the latest talking about Wendy’s iffy trans fat claims, you can hardly stop reading some of the ridiculous claims companies make. Gives new meaning to “buyer beware".

Use this information in your newletters or special emails to all your prospects and clients. They'll thank you for it.

Going Incognito on the Internet

2006-11-09T14:41:00.000-08:00

Hewlett Packard has a handy website for small business owners full of practical tips and information you can use in your own business. One article caught my attention about the information we unwittingly share when we go online.

Most alarming fact pointed out is just how much personal data is collected when we surf the net and how it can be “used for financial gain or other malicious purposes. The article also points out what you can do to ensure privacy and safety on the web and how to go about “surfing anonymously.”

How to Decipher Internet leads

2006-11-07T08:50:00.000-08:00

No matter what your source of Internet leads, trying to figure out if one is “good” or not can be frustrating. To help you make the best use of every type lead try looking at these 6 levels of information and response to see if the lead has potential.

Before looking at the leads themselves it’s important to understand the nature of Internet consumers. Since nearly 80% of consumers start their moving process by going online, it’s vital to understand the average Internet consumers buying/selling process. Independent research shows:

A.) Today’s buyers and sellers can take anywhere from one year to over five years to actually make their move.
B.) Over 75% of buyers and sellers will use a real estate agent, but will only spend one to three days interviewing and selecting that agent.

With this research we can see why it is important to have automated systems in place to maintain contact with these leads over extensive periods of time. Keeping our name and additional helpful information in front of your Internet leads greatly improves the possibility of being the agent of choice when that one to three day window comes along.

Any level of contact with the prospect means it has potential. Here’s a look at those 6 levels.

1. Email only- the foundation piece to building huge e-farms of prospects. Use drip email campaigns and periodic 'special' emails to build name/brand awareness.

2. Plus phone- Use to establish service rapport. "I'm your information resource". Important
to leave messages- these are your personal advertisements. Think of a voice mail as a highly personal advertising impression.

3. Plus address- Expands contact opportunities to meet person to person and do direct mailings.

4. Prospect responds to email- Any acknowledgement is good, even if the prospect says I was just curious. Respond back with "I'm your information resource, would you like to have (whatever info you have like buyers/ sellers guides), personalize it for them in some little way.

5. Prospect responds to phone- May be an indication of readiness but not always.

6. Meet person-to-person (drop-by)- The best for getting 'the rest of the story'- what their intentions are in terms of moving.

Your ultimate goal for every Internet lead should be to bridge the gap between the impersonal (Internet) and the personal (you). This step will help establish the trust so necessary for your clients to act on the most expensive transaction most people make.

How would your business fare if you were unable to work?

2006-11-06T11:42:00.000-08:00

While conducting a seminar in Orlando last week I heard a story that dramatically illustrates why it’s important to automate your business as much as possible.

Judy Dassinger was attending the seminar and shared this story. She was in a motorcycle accident and sustained a serious head injury. She had been so seriously injured she couldn’t work for at least 5 months.

Before reading on, stop and ask yourself, “what would I do if I couldn’t work for 5 months?” Here’s what happened to Judy. When she recovered, she told me she closed over $2.4 million her first two months back at work due to HouseValues. The prior year she closed $14 million- much of it due to HouseValues.

It’s not the fact that she was associated with HouseValues that made the fast ramp-up to income possible, it’s the fact she had an automated pipeline of prospects who were continually receiving information from her. She had all her prospects receiving automated email drip campaigns, even in her absence from the business. She had a pipeline of prospects “maturing” even as she was recovering.

Feel free to share any of the tools you use to manage your prospect pipeline.

Free “Real Estate Professional” Subscription

2006-11-02T11:44:00.000-08:00

Back in September I talked about The Real Estate Professional magazine being an excellent resource chock full of useful advice, best practices and profiles both of successful real estate professionals as well as business services that are making Realtors successful nationwide.

They have the second-highest circulation behind Realtor Magazine (which is distributed for free to all NAR members), and is considered by many top agents as a must read.

Through my affiliation with HouseValues, I was able to make arrangements with the publisher to offer a free six-month subscription to all readers of Agent CEO. It’s a no-strings-attached offer, promoted as courtesy..Agents can sign up for this offer at www.TheRealEstatePro.com/HouseValues.

This is just one of many ways you can stay abreast of what other Agent CEO’s are doing with their real estate practices.

Too important to do it youself

2006-10-01T17:56:00.000-07:00

This weekend's Washington Post featured an article entitled "Keys To Selling Your Home Without An Agent", which offered tips to prospective do-it-yourself sellers.

A couple things struck me when reading this. First, the author pointed out the fewer fewer home sellers are going FSBO these days. In 1991, 19% of home sales were FSBO. In 2005, that figure was down to only 13 percent.

Why? Consumers have access to more information than ever before, yet fewer of them are going at it alone. My guess is that, the more consumers see, the more they realize how difficult it is to do this successfully.

Which leads to my second take-away from the article. In pointing out what FSBO sellers should do, the article in effect documents a rather intimidating "to-do" list for sellers.

What I'm hearing from real estate agents nationwide is that their sellers are busier than ever before, and in a changing market realize that real estate professionals are uniquely positioned to help them sell their home fast and for the highest possible price.

And at the end of the day, getting a higher price not only more than pays for the agent's commission, but makes the home sale FAR easier and stress-free.

Selling More Homes in a Slowing Market

2006-09-26T08:20:00.001-07:00

Blanche Evans from Realty Times wrote a great column this morning, sharing a number of ideas agents can think about in a slowing market. Smart Agent CEOs already have a pipeline of business lined up, in good markets and bad, for months to come. But if you're like me, you're also not going to ignore new, practical ideas that can help you make even more money.

Check out the column here.

Will we be early adopters?

2006-09-22T20:09:00.000-07:00

Let's face it, most real estate agents aren't exactly early adopters of new technology. But this might be something more agents pick up on quickly, since it'll save us so much money.

I'm talking about hydrogen cell cars - even better than the current hybrid options.

Read more about them on GM's blog here.

Would you drive one? Even if the car cost a lot more up front, would you buy it to save money on gas driving your customers from house to house?

Who To Ask For Referrals

2006-09-19T09:07:00.000-07:00

Some of you know I'm a big fan of the Duct Tape Marketing blog.

The other day, they offered some simple advice on where to look for referrrals. Give it a quick read, and think about the places in your network where you might not yet be asking for new business.

16 Words or Less

2006-09-19T08:44:00.000-07:00

A good friend of mine once told me that any good presentation should have no more than 16 words on each slide. The goal, he says, is to very succinctly summarize your core points with words on a page (or on a screen), and use the spoken word to paint a more compelling picture of your primary points.

His additional premise is that almost anything can be communicated in FAR fewer words than most people typically use. This isn't always an easy rule to follow, but I've found that he's right. Not only are presentations easier to present and understand using ths rule, but the audience is almost always more receptive and attentive.

Why? The content isn't intimidating. It doesn't seem hard to follow. Reading 16 words at a time is easy. And the words I use to augment those words in a live presentation are not only more powerful (because they are presented live), but also augment and create more meaning for the 16 (or less) words on the page.

What's the lesson for Agent CEOs? My point is that all of us can present our content more succinctly. On our Web sites, in our printed marketing materials, in our listing presentations, etc. The fewer words we use, the more powerful those words become. What's more, if you can write more efficiently, your audience is far more likely to 1) read what you're written, and 2) internalize it and BELIEVE it.

Make your marketing and your presentations stand out by writing LESS, not more. It'll be more powerful as a result.

The Real Estate Professional

2006-09-18T20:08:00.000-07:00

If you aren’t yet a Real Estate Professional subscriber, you don’t know what you’re missing. It’s an established magazine for real estate agents and brokers, and a very well-done print magazine. Every other month, it’s chock full of useful advice, best practices and profiles both of successful real estate professionals as well as business services that are making Realtors successful nationwide.

They have the second-highest circulation behind Realtor Magazine (which is distributed for free to all NAR members), and is considered by many top agents as a must read.

I read every issue cover to cover, and always finish with a long, written list of ideas I want to try in my business.

Working with sellers can get you more BUYERS

2006-09-18T11:04:00.000-07:00

I've heard many agents recently talk about how buyer leads are more valuable right now than listing leads. In a slower market, I can understand why that might look attractive. But by ignoring sellers, you might be walking away from a lot of money.

Let's look at the facts:

You already know that more than 70% of sellers are also buying a house. And according to the US Census, 85 percent of moves are local, meaning they're people moving to a new home in the same market.

The National Association of Realtors gives us even more compelling information. According to NAR, the average buyer moves just 15 miles away from their previous residence, and one out of every three sellers aged 18-44 is buying a LARGER home.

Keep in mind as well that listings ATTRACT buyers! Marketing a new listing is a highly-efficient way to meet prospective buyers. Your lawn signs, open houses, etc. all attract local buyers. When you control the listings, you control the inventory – and buyers come to you!

Even better? You can double and triple-dip on each listing. First, you get the listing. Then you find that seller a new home. THEN, you find a buyer for your listing. All of a sudden, you have THREE transaction sides, including two buyers, all from a single listing.

Before you say no to working with sellers, make sure you think about how those sellers could help you find even more buyers too!

Sept 19 Update: Click here and here to read two stories of Agent CEOs who have turned their sellers into buyers. You can do it too!

It's still a numbers game

2006-09-18T08:40:00.000-07:00

In baseball, a good lifetime batter FAILS 70% of the time.

In marketing, a GREAT response rate to a mailer is 3%. That means 97% of the mailings FAIL.

When you're evaluating new sales & marketing strategies to grow your real estate business, keep in mind what a good success rate might look like.

This is particularly important when looking at a good prospect database. If you're lucky, you're building a pipeline of several hundred prospective buyers & sellers in your database. And you know that the vast majority of those aren't going to buy or sell anytime soon.

But you also know that a very small percentage of those leads need to "pop" in order to make you some serious money.

Kendra Shearer did a good job writing on this subject recently on the RealBlogging site. Give her post a read, and think about how this would apply to your business.

Sometimes it's good enough just to stand out

2006-09-13T21:13:00.000-07:00

A friend forwarded me this picture taken on a recent vacation in Hawaii.

This van isn't the prettiest thing in the world, but it gets itself (and the driver) noticed. And if it generates a few calls from interested home buyers and sellers, is it worth it?

Sometimes it's good enough to be unique. To be remarkable. To be different enough that people take notice and give you a chance.

Does your marketing do that? Do you strive to make it perfect, or is it simply - and sometimes plainly - remarkable?

It's NEVER too late to write a plan!

2006-09-05T17:14:00.000-07:00

Several months ago (February, in fact), I wrote a column for Realty Times that addressed several strategies any agent can take to plan for a more successful 2006. In that column I offered a free business plan to anyone who would email me directly and ask for one.

I'm excited and impressed that, to this day, I still get requests on a regular basis for this plan.

If you're a new reader of this blog and would like a copy of my 2006 Business Planning Guide, please send me an email. With four months left in the year, there's still time to finish the year strong, with lots of momentum going into 2007.

I'll have a similar plan for 2007 available soon...

ACT on your thoughts!

2006-09-05T17:11:00.000-07:00

Here's a great post by Dirk Zeller on the RealBlogging site, all about taking action on things you think about.

If you're like me, you think of new things all the time. But the vast majority of them are just thoughts, gone as quickly as they come. Even some of the great ideas don't ever see the light of day, much less action to benefit your business.

Dirk's post is all about taking action. Clearly you still need to separate the wheat from the chaffe, and move forward with only your best ideas. But the idea, as simple as it may sound, is to simply take action more often.

You'll be surprised how much this can benefit your business.

Read more from Dirk here, get inspired, and take action!

55 Computer Shortcuts

2006-09-03T12:07:00.000-07:00

I'm always looking for shortcuts, especially when they help me do things faster without impacting the quality of what I'm working on.

Here's a great list of 55 shortcuts in Microsoft Windows you can use to make typing, editing and moving between computer applications much faster. I've used many of these to significantly shorten the amount of time I spend on the computer.

Enjoy!

Money Magazine: 4 renovations that kill a home's value

2006-09-01T07:41:00.000-07:00

The majority of homeowners assume that virtually any home improvement or renovation project is going to add value to their home. But savvy Agent CEOs know that's not true.

This month's Money Magazine points out four renovation projects that oftentimes can detract from a homes marketability, and could even decrease it's value on the market.

Think about how you could use knowledge like this to your advantage. Consumers in your area who may be thinking about selling their home several months down the road could be considering renovations like these.

If you were to offer them advice on which projects add significant value, and which might detract from their home's value, you'll be providing invaluable advice and demonstrating a level of expertise that could surely help that consumer sell their home for the highest possible price once they're ready.

The Bottom Line? Demonstrate a level of expertise and insight at every chance possible. You'll be surprised how quickly it will help create loyalty among your customer pipeline.

We buy print ads...but we don't like it!

2006-08-30T13:46:00.000-07:00

Very interesting survey released today by Realty Times and Classified Intelligence, exploring where agents are spending their marketing dollars.

The key point? Most of us are still spending money on print advertising – but would prefer not to!

Read the survey summary from Blanche Evans at Realty Times here.

Virtual vindication for real estate agents

2006-08-26T09:12:00.000-07:00

Pretty good story this weekend in CBS MarketWatch, detailing how much real estate professionals are helping with the home buying and selling process, even though consumers have access to far more information online.

I strongly believe that real estate will always be a professionally-assisted transaction. Information might be more readily abundant online, but that doesn't change the fact that this is a big, complicated, stressful event in every consumers' lives.

Read the story here, and let me know what you think.

Where do you get your real estate news?

2006-08-25T13:29:00.000-07:00

Great post today by Joel Burslem at the Future of Real Estate Marketing blog on the top of real estate news sources.

Some really cutting-edge stuff here, but things that exist today and things that likely aren't too far off.

Definitely a good idea to leverage some of these services to continually update your own knowledge of real estate news, trends, new services available to agents and consumers, etc. Makes you look even smarter to your customers and prospects!

Is the housing market stronger than we think?

2006-08-24T13:44:00.000-07:00

Inman News drew attention today to a very interesting study by a couple economists at the Federal Reserve Bank of Chicago, essentially making the case that low interest rates and speculation have had a far lower impact on the real estate rush of recent years.

The economists say that increasing wealth, changing demographics and new mortgage products focused on renters have had a bigger impact.

That's a very interesting conclusion, and has big implications for answering the question of whether or not we're seeing a real estate bubble burst right now. If, in fact, more fundamental economic factors have led to the growth of the real estate market, one could argue that those specific factors haven't abated recently, and that the market will continue to be reasonably healthy (even if it is "settling down" from an unusually high amount of activity).

Sign up for your Daily Motivator podcast

2006-08-24T09:51:00.000-07:00

HouseValues has just launched a "Daily Motivator" podcast.

Every business day, real estate professionals can pick up a quick audio tip to start their day. Best practices, marketing tips, motivational messages and more.

Most Daily Motivators are just 2-3 minutes long, but are a great way to start your day. A couple recent podcasts include:

* Turn $1.50 into $12,000
* Building a Pipeline
* Working with Buyers

Daily Motivators are available for FREE, by clicking on the XML link below. Or, just visit the iTunes Store and search for "Daily Motivator." iTunes allows you to "subscribe" to the feed, so that new Motivators are sent to your iPod automatically.

Give prospective clients interview questions

2006-08-23T12:42:00.000-07:00

Interesting article today in CBS MarketWatch advising consumers how to choose real estate agents. I particularly liked reading the set of questions they advise prospective home buyers and sellers to use in interviewing agents.

NAR research tells us that the majority of consumers use the first agent they contact, and also typically contact just one agent before they transact. But that doesn't stop us from going into competitive listing presentations all the time, where multiple agents are going after the same consumer - and same commission.

How can you use this to your advantage? When you're in a listing presentation yourself, tell the consumer what questions he/she should be asking of every prospective agent. Put that list in your listing presentation materials.

Encourage them to ask smart questions, but make sure that YOUR answer to those questions is delivered clearly in your presentation.

You might think that this strategy only encourages those consumers to interview other agents, but my experience has shown that it actually reinforces for consumers that YOU are the right agent for them.

Give it a shot, and let me know how it goes!

Markets back to normal, Agent CEOs shrug

2006-08-23T08:02:00.000-07:00

We've been reading for the past few months about a slowdown in the real estate market across the country, and like me you've probably noticed the same thing in your market. Listings staying on the MLS longer, buyers harder to find - especially at the prices we expected just 6-8 months ago.

Today NAR released new data indicating a further slowdown in home sales, which will likely spark a fresh (and larger) round of stories about the real estate bubble bursting,

As I meet agents across the country over the past few weeks, I notice two reactions to this trend. Newer agents are quite worried about this market movement, as they've only operated in a real estate market at its peak. Veteran real estate agents are less nervous, realizing that this simply represents a red-hot market returning to normal.

But then there's a third reaction, shared by agents of all types that think of what they do as a business, and have been preparing for this moment for months, if not years.

Those are the Agent CEOs, the real estate professionals who know they need to cultivate a long-term pipeline of prospective customers that, no matter what the market looks like, will eventually buy or sell a home. Agent CEOs read headlines like this and shrug, knowing that their business practices keep them largely insulated from the day-to-day worry of market trends.

While many agents now scramble for their next commission check, Agent CEOs are staying busy with a flock of current customers, and have a pipeline of hundreds if not thousands of prospective customers waiting for them in the weeks, months and even years to come.

If you aren't yet an Agent CEO, it's not too late to become one. If you're new to this blog, read this post for a primer on what it means to be an Agent CEO, and spend some time reading through the stories of Agent CEOs on this blog for examples and best practices that you can implement in your business, starting TODAY, that will help you also look at headlines like this, and simply shrug.

Residential Genealogy

2006-08-22T09:55:00.000-07:00

I stumbled across this great service yesterday, and had to share with the Agent CEOs out there. This new project allows you to track the history of a particular property - who lived there, how many people have lived there, etc.

What a great way to demonstrate even more market knowledge to prospective buyers and sellers. And who knows, you might find a famous name as a previous occupant, something that could increase the home's value on the market.

Finding gold in FSBOs

2006-08-21T13:51:00.000-07:00

Last week, Dan Volker was the featured speaker on the HouseValues Mastermind Call. This is a twice-monthly call conducted for HouseValues subscribers, in which a successful agent shares their strategies for success. When I hear calls I think have broad value to all real estate agents and Agent CEOs reading this blog, I try to summarize them here.

I had the pleasure of moderating Dan's call, and it was one of the best I've heard all year. Dan has been involved in real estate for more than 18 years and closed over $90 million in his real estate career.

Even as the market continues to shift in many areas of the country, including his, Dan has still closed over $4 million in transactions for 2006. Having earned over $690,000 in gross commissions from his HouseValues leads, Dan explained how mastering the HouseValues system helped him develop his FSBO strategies, earning him an additional $220,000 in gross commissions.

After almost 5 years with HouseValues, Dan has closed $31.5 million in HouseValues transactions, has listed 125 leads and 105 have closed, and currently has 10 active HouseValues-generated listings.

His secret of success? Treat every lead the same. Treat every lead like a $2 million dollar transaction. Even if the lead has a fake name, or isn’t the person listed on the tax records, you just never know if it'll still turn into a transaction (or many down the road).

Some other tips from Dan, relevant to all real estate agents:

* He takes a picture of every prospect property and any FSBOs he finds along the way; creates a flier for the home and includes in the pre-listing packet.
* Every prospect, whether from HouseValues or a FSBO, gets the same high quality pre-listing packet.
* Every buyer is set up to receive listings automatically via email.
* Buyers from open houses are asked to tour the house prior to asking them to sign in; this puts the buyers more at ease, and gives them a better idea of what they are looking for.
* Buyers from open houses are asked if they would like to receive listings via email; if so, Dan gathers criteria and price range, and does not ask for phone numbers at this time.
* Dan trains buyers to drive to properties they like that they see online before actually showing the properties so they can eliminate a lot of needless showings.

Dan's description of his FSBO strategy was particularly fascinating.

FSBO signs are really help wanted signs, he says. He finds FSBOs from classified ads, driving around looking for directional signs, and has even had other FSBOs pass along his package. Web sites for finding FSBOS include: http://www.fsbo.com/, http://www.forsalebyowner.com/, http://www.byowner.com/, and http://www.fsbohotsheets.com/

When doing hand deliveries to FSBOs, try to go during an open house; they are expecting people and there will be less pressure When calling FSBOs, call on Monday after they have likely had an unproductive open house over the weekend; if you call on Friday, they are confident that they will be selling the property at their upcoming open house. The pre-listing package includes a customized CMA from his company, a cover letter with a list of all the homes he's sold in their area, his resume, and a copy of his marketing plan including Web sites and virtual tour company, color flyer of their home, and a magnet and business card.

The pre-listing package can be found here.

Growing role of single women on housing market

2006-08-18T12:00:00.000-07:00

You've probably heard the adage that women pretty much make nearly every buying decision in a household. Men, the adage goes, make decisions about beer, batteries and tires. Women make decisions on everything else.

Not surprising to see this latest study from Harvard discuss the growing impact of women on the housing market, and in particular single women.

The overwhelming buying segment is still made up of married couples (at 63 percent of transactions), but unmarried women are now the second-highest buying group at 20 percent in the past three years. Unmarried men make up 17 percent of the buying pool.

That may be news to many Agent CEOs. What are you doing in your marketing plan to attract single women buyers to your real estate practice?

How to turn $1.50 into a $12,000 commission

2006-08-17T16:12:00.000-07:00

We taught a seminar for a number of agents in Vancouver, BC yesterday. One of the attendees was Jane McDonald, a HouseValues subscriber who happened to be in Vancouver on vacation (she lives and works in the Toronto area) but decided to spend the day with us. It was a vacation day, but she really wanted to learn.

At one point during the class, we asked for "great ideas." She shared somethingthat has been working really well for her.

There are many drive-through coffee shops in Toronto. Whenever she goes, she hands the attendant her card which says, “Have a great day, Jane!” and pays for the coffee for the person in line behind her. She asks the server to hand them her card with the coffee.

The first time she did it she received a call form the man in the car behind her, asking if she knew him. She said no, I just wanted to brighten your day. He told her no one had ever done anything like that for him before. By the way he was going to sell his house would she come over and list it.

She not only listed it but she sold it as well. She told us it was a $12,000 commission (both sides) for a $1.50 cup of coffee!

She has consistently done that. Over ½ of the people she does that for call her and thank her. At that time she asks for their email address and asks if she can put them on a campaign to stay in touch.

WOW. Smart, simple, and highly effective. Great work Jane!

Put this book at the top of your list...

2006-08-16T21:39:00.000-07:00

For the past few years, I've been singing the praises of long-time real estate industry writer Frank Cook's book, "21 Things I Wish My Broker Had Told Me."

Now, even the National Association of Realtors and Realtor Magazine are jumping on this bandwagon, naming it number one on their list of "Top 10 Classics to Revisit".

If you haven't already done so -- especially if you've been in the business three years or less -- do yourself a favor and pick up a copy of the book. As NAR points out, it's a classic. And if you check out the reviews on Amazon.com so far, his readers agree.

Are pre-fab houses popular (again)?

2006-08-16T21:21:00.000-07:00

This month's issue of Popular Mechanics seems to think that pre-fabricated homes could mean the end to cookie-cutter design. Seems contradictory, but take a read and see if you agree with them.

I've also read recently that more and more consumers are choosing manufactured homes to install on pre-bought or pre-owned property. This strategy definitely has its advantages - 1) you save money 2) it's often hard to find a good contractor to fix the home you're already in, and 3) you can pretty much not have to worry about construction schedules not being met since the homes are manufactured in a warehouse.

What do you think? Are pre-fabricated homes cool again? Are they the wave of the future? Are consumers in your market more interested in manufactured homes than before.

What's good for New Zealand real estate...

2006-08-16T21:07:00.000-07:00

I had fun this afternoon reviewing the top real estate Web sites in New Zealand.

It appears that New Zealanders searching for real estate are just as smitten with the Internet, with a full 86% of those surveyed finding the Internet to be the best tool for real estate research. And, just like in the states, more women (59%) are researching on real estate sites there than men.

Some very interesting sites down there, worth a look. Some very interesting brand names as well. Who would have thought that a site called "TradeMe" would be the top New Zealand real estate site...

Copywriting Best Practices

2006-08-14T15:23:00.000-07:00

The smart folks at Sellsius offer today a great set of writing tips, aimed at helping real estate get better results and higher response from their writing.

Think about how important this is to your business. Your Web site, your flyers, your MLS descriptions - so many of your marketing and branding vehicles rely on well-written copy to get your message across and drive your prospective customers to action.

Happy Monday!

Are you using PR?

2006-08-14T12:01:00.000-07:00

I came across a well-written press release this morning from Roger Flowers, a real estate agent in Yucapia, California. He recently upgraded his Web site with aerial mapping and lots of embedded, local information, and wanted to get the word out.

Have you ever considered doing PR for your own real estate business? Have you tried issuing press releases or building relationships with the local business and real estate newspaper editors? It doesn't have to take a lot of time, and it doesn't have to be hard either. Just think about what you uniquely have to offer consumers in your market, and tell people about it.

The fact that Roger has a Web site isn't necessarily news. The fact that he's offering his customers, for free, access to viewing listings and local business information on aerial photography - now that's interesting!

Make your Open House stand out

2006-08-11T09:08:00.000-07:00

It's Friday, which means many of you will spend part of your late-summer weekend hosting open houses across the country.

Open houses are seen by many agents as a necessary evil, something that sellers expect but in many cases turn out to be a waste of time for the agent. But if you think more broadly about what an open house can do for you and your business, your next open house can be far more productive than ever before.

Below are a few ideas you can use THIS WEEKEND to get more value and long-term prospective business from your open house.

Offer a free gift
When you market your open house (in the newspaper, online, in the MLS, etc.) make it clear that visitors get a free gift just for showing up. This can be something as simple as a "top ten reasons to sell now" report with your name on it, or it can be a 2007 calendar. Whatever it is, give people an extra reason to come to YOUR open house this weekend.

Make the open house FUN
Most open houses I've been to are no more than an open door, an agent sitting sitting on a stool, and some brochures & business cards on the kitchen table. What can you do to make your open house a little more fun, and a lot more memorable? What can you do to make sure those open house visitors not only remember that house, but remember YOU? Fresh-baked cookies? A drawing for ballgame tickets? A game of chance (roll the dice to win one of several prizes)? Do something that matches your personality and interests, so that it comes across naturally. so very few agents do things like this, that it'll immediately help you stand out - benefiting your business and the sale of your open house.

Registration
Before people leave your open house, get their contact information. Offer something valuable in return, like a free subscription to your e-newsletter or regular updates of home listings that meet their criteria. Give them a reason to want to stay in touch with you.

Do you have a great open house idea that's helping you make your open house memorable? If so, post it here so that other agents can learn from your success!

Happy Friday!

Sellsius Real Estate

2006-08-09T08:08:00.000-07:00

I've been watching these guys for the past couple months, and particularly reading their fantastic blog. It's a great source of information about the real estate industry - a real variety of content.

There are so many good real estate blogs out there worth reading. I'll post more of my favorites soon.

Is Bad Weather Good for an Open House?

2006-08-07T14:51:00.000-07:00

Very interesting anecdote in today's New York Times real estate blog about doing open houses in bad weather. Sure, quantity of shoppers might be low, but the quality and seriousness of buyers likely goes up.

Do you have any good stories about showing homes in bad weather? Open houses during a violent storm? Driving buyers through hail? Please share!

There's a better way to prospect...

2006-08-07T08:29:00.000-07:00

Dirk Zeller offers his Four Pillars to Prospecting in his Realty Times column this morning. It's a good read, and I think Dirk is a fantastic real estate trainer and coach, one of the best out there.

That said, most Agent CEOs I know wouldn't follow Dirk's advice. Why? Because based on my ongoing research, agents HATE to prospect. It's a marketing job that every small business needs to do, but few want to do. The smart Agent CEO, therefore, delegates prospecting work to a far more efficient resource - usually combination of other people, a trusted third-party, and good prospect management software systems.

My guess is that many agents today are reading Dirk's column, knowing that they need to have an ongoing prospecting strategy to constantly bring in new business. BUT, they're also grinding their teeth because they don't want to do that work the hard way themselves.

As the CEO of your real estate business, do two things today. One, know that Dirk is right - you MUST constantly prospect for new business to be successful long-term. Two, find a better way to do that prospecting. Work with a trusted third-party to prospect for you, and then use a proven prospect management system to seamlessly keep in touch with your prospects, all with your brand front and center.

Pending Home Sales Index Rises Again

2006-08-03T14:42:00.000-07:00

NAR reported earlier this week that pending home sales have gone up for the second straight month. I didn't see anyone at NAR cite this as the start of a market turnaround, but it could be that we have "leveled-off" after seeing some cooling in the market.

Is anyone seeing that across the country? Despite cooling off in most markets at the beginning of this year, has buying and activity been relatively steady the past few months?

Or, do you think the market will still get cooler?

Smart Agent CEOs know that it doesn't really matter. You have the tools and marketing strategies in place to keep the flow of customers coming into your business week after week, month after month - no matter what the market looks like.

Advice for first-time home buyers

2006-08-03T10:02:00.000-07:00

This real estate Q&A is from a somewhat obscure online technology magazine, but offered some interesting home buying and selling advice to consumers. It's worth a read to see 1) if you agree, and 2) if there are pieces of advice you can incorporate into your own business and counsel to customers.

In particular, I thought this advice for first-time buyers was interested. Do you agree with his advice?

"So, when are you really ready to buy? Well, you're really ready to buy a home when you can purchase that house with a fifteen-year, fixed-rate mortgage where your payment is no more than a fourth of your take-home pay...and you are completely out of debt, you have an emergency-fund of three to six months of expenses, and you have a good down payment. Then you're ready to buy.

If not, that might mean you'll have to spend another year renting and getting out of debt, and you might need to sell your Tahoe to get ready to buy a house. You've got to be ready and willing to make some sacrifices to do this the right way because, otherwise, the house ends up owning you and it becomes a curse rather than a blessing."

Gates becoming more commonplace

2006-08-02T09:34:00.000-07:00

According to a recent report in the Wall Street Journal, more and more consumers are installing gates on their properties. They're doing it for both security and privacy reasons.

Are you noticing this in your communities? Are your customers seeking homes with gates pre-installed, or are you noticing more gates going up?

And what do you think the impact of this trend will be on neighborhoods? Gates can surely give the individual homeowner a deeper sense of security, but does it discourage trust between neighbors?

Duct Tape Marketing

2006-07-30T16:00:00.000-07:00

When I was an agent, every penny I spent on marketing was a penny I couldn't keep for myself. As a budding Agent CEO, I knew that consistent and measurable marketing was an important part of sustaining and growing my business, but I also knew the power of scrappy marketing ideas.

Some of the best real estate marketing ideas I've seen in my years have cost little to nothing. They're simply memorable, smart strategies that drive results.

If you're looking for a steady stream of such ideas, let me suggest Duct Tape Marketing. It's a free, online resource for any small business looking for inexpensive yet highly effective ideas to grow and run your business. Just like an Agent CEO!

Do you still use doorhangers?

2006-06-27T08:35:00.000-07:00

I came across this very creative marketing piece for front door peep-holes yesterday, from Papa John's, and it made me think of the doorhangers we used to use to generate business in the real estate industry.

Do you still use doorhangers, or other marketing tools that must be delivered door-to-door? Do they still work?

If done extremely well, like Papa John's example, these might still get people's attention. Otherwise, my fear is that campaigns like this just blend into everything else on people's minds when they get home from work, and it far too easy to just dump into the recycling bin with the rest of the junk mail.

Whether your marketing is online or offline, in person or via email, make sure it connects with your customers. Make sure what you're offering is remarkable, and stands out. Make sure it's relevant, and appreciated.

Strategies for a Changing Market, Part V

2006-06-22T07:33:00.000-07:00

Real estate markets may be changing, but smart Agent CEOs know that there are still many strategies that can keep them on top. Here's the fourth and final success tip:

Build a pipeline of prospects

Of all of the strategies you can choose to implement, this is the most important. If you build a pipeline (database) of prospects, you will flourish in any market.

We are in one of the essential industries: food, medicine and shelter. There will always be people who need to buy and/or sell. Your job is to cultivate a large database of prospects, so that when they are ready to make a move, you are the agent of choice.

That allows you to have a steady stream of business no matter what happens in the market. In a changing market many agents just give up. It reminds me of what happens over the holidays. Many agents don’t stay in the game. They feel that business is slow because everyone is out shopping or preparing for the holidays. The top agents know otherwise. They make more money during the holidays than the average agent makes the entire year.

While "the shift" has not occurred in all markets, it is important to remember that the market does fluctuate. “Your Mission, should you choose to accept it,” is to be aware of the changing market conditions and adjust your strategies so you can flourish in any market.

Good luck, and please share with me your success stories!

Strategies for a Changing Market, Part IV

2006-06-21T09:12:00.000-07:00

Real estate markets may be changing, but smart Agent CEOs know that there are still many strategies that can keep them on top. Here's the third of four success tips:

Working with Sellers

While in a steaming seller’s market, real marketing was not really necessary; there were quick sales with multiple offers, few contingencies, and very little negotiating. Remember, it was also very frustrating working with buyers in that market. We often wrote up several offers before one was accepted.

In this more normal or buyer’s market (depending on your area), top agents are:

Marketing listings once again: The smart place is on the Internet, with 79% of consumers going online to research information. Smart Agent CEO's make sure their listings are featured with multiple photos and/or a virtual tour, or video.

Price it right: It must be priced to sell, and in good condition. If it is not competitive, it will not sell in many markets.

Obtain concessions: Make it easy for the buyer to buy.

Educated the sellers to the marketplace: Make sure they can be flexible and open to offers.

Practice your objection handling skills:
• Our home is worth more
• We don’t want to pay full commission
• I want to try it myself for a few weeks
• We want an ad in the Sunday paper and an open house every weekend

Tomorow, the vital role of building pipelines...

Strategies for a Changing Market, Part III

2006-06-20T07:15:00.000-07:00

Real estate markets may be changing, but smart Agent CEOs know that there are still many strategies that can keep them on top. Here's the second of several success tips:

Working with Buyers

When working with buyers, in many markets we now face a surplus of inventory, which means many more choices for the buyers which can lead to a lack of urgency. Homes are taking longer to sell, so the listings must be competitively priced and many sellers (especially builders) are making non-price concessions, like closings costs, home warranties, etc.

So, what can Agent CEOs do?

1. Have them come into the office for a counseling session to let them know how they work
2. Have buyers sign a buyer-broker agreement
3 Make sure the buyers are pre-approved
4. Practice your objection handling skills. Typical questions to be best prepared for include:
* I want to think it over
* The price is too high
* The kitchen needs upgrading
* The yard is too small/too large
5. Hone your negotiating skills because in this market, many buyers may want to low-ball, want too many concessions, or want too many contingencies

Tomorrow, we'll address seller strategies in a changing market...

Strategies for a Changing Market, Part II

2006-06-19T09:35:00.000-07:00

Real estate markets may be changing, but smart Agent CEOs know that there are still many strategies that can keep them on top. Here's the first of several success tips:

Sharpen the Saw

Stephen Covey tells a great story about woodcutters who are competing for the national championship. On the count, two finalists begin cutting the trees. One of the finalists notices that his competitor stops every hour to take a break. At the end of the day, who do you think wins? The competitor who cut all day without breaks was sure he would win. He did not. He went over to the winner, congratulated him and asked how he could win, when he took so many breaks. The winner said, “I was sharpening my saw!”

We too have to take the time to sharpen our saw, especially when the market changes and we have to do things we haven’t done in awhile like, market our listings, fine tune pricing, and negotiate, rather than just receive offers. We should therefore sharpen our:

· Listing presentations
· Buyer presentations
· Handling Objections
· Pricing
· Marketing
· Negotiating

Tomorrow, a new strategy...

Strategies for a Changing Market, Part I

2006-06-17T10:00:00.000-07:00

As the marketplace adjusts, agents are struggling with a new reality. In many cities the marketplace is changing from a “hot” seller’s market to a more normal market. In some areas of the country, it has shifter further into a buyer’s market.

We’ve experienced the strong seller’s market in so many parts of the country for at least the last 3-4 years, so for many agents that’s all they know. They haven’t been in the business long enough to experience the natural cycles of the marketplace.

Real Estate has always been a cyclical business. Changes in the market are due to economic factors like: job growth, inflation, supply and demand, the cost of land due to zoning regulations or environmental factors, the trade deficit and the budget deficit which affect the interest rates.

The interest rates have been climbing for the last 1 1/ 2 years. We are no longer at the record lows which made housing so affordable. However, the interest rates are still very attractive. These changes have taken place and many agents are bemoaning or actually resisting the changes.

As Agent CEOs, we need to look clearly at the market, embrace the changes, and adjust our strategies to take advantage of those changes. If we don’t we will be like some sellers who are now ready to sell and want the prices their neighbors got 8 months ago.

Over the next few days, I'll offer four strategies that Agent CEOs can apply directly in their businesses to keep their business humming along, and growing, even in a changing market.

The power of personalized service

2006-05-16T08:05:00.000-07:00

Although many of your buyers and sellers today rely on technology to both research and communicate with you, don't underestimate the power of the right personal touch, and exceptional customer service.

Here's a story from an Agent CEO in Chicago, in his own words from the HouseValues Mastermind Forum. It's a strong message of both high-touch customer service and patience, which clearly has generated strong results.

I hand delivered a CMA about a month and half ago, and the reception I got was so warm that I began to wonder if the lady wasn't my sister. We signed the contract last night; 8% listing commission.

If there's any new agents reading this post, I have some advice for you:

Go and knock on that door, and wear your best smile, and offer them a service they didn't even know existed and more, put them on the drip marketing campaigns and give them some time to reach the conclusion that you're actually better than their sister in-law's cousin who's a Realtor, and they'll list with you EVENTUALLY!

Cheers!

Stay on track by thinking long-term

2006-05-08T08:52:00.000-07:00

The smartest Agent CEOs across the country are busy with "right now" business, but are also engaged in multiple activities that set up future business - in the weeks, months, even years to come.

What do these Agent CEOs consistently do to ensure long-term success? You can read some of their best practices in my latest column in Realty Times. It offers real-world best practices of some of the nation's most successful agents - all things that you can emulate in your own business to match their success.

Happy Reading!

How to Convert FSBOs

2006-05-06T10:05:00.000-07:00

Dan Volker, an Agent CEO in the suburban Chicago market, is one of the best agents I've ever seen at converting FSBOs into his customers. In the time I've known him, he's converted literally dozens of FSBOs by showing those sellers how he can help them earn more money for their home, and sell the home faster and easier in the process.

Click here to read more of Dan's story, including his strategy for showing FSBO sellers the incredible value he can provide them.

The Truth about FSBOs

2006-05-06T08:25:00.000-07:00

I've heard many agents talk about For Sale by Owner Listings (FSBOs) lately, and many are worrying that the rise in availability of information directly to consumers will increase the number of FSBOs.

This couldn't be further from the truth, and research supports this.

In 1991, before homes and other real estate-related information started appearing on the Internet, for sale by owner transactions made up approximately 19% of the market. In 2005, after almost 10 years of having homes for sale on the Internet and consumers more empowered with information than ever, FSBO transactions made up 13% of the market.

At a time when consumers were empowered with more and more information, the volume of FSBOs actually decreased by 46% - almost cut in half!

It could be that many consumers realize that they can actually earn more money by working with a Realtor, as recent data suggests. But I also think consumers just don't have the time or expertise to market a home themselves, let alone get the highest possible price, and smart consumers (empowered with more information) increasingly know this.

Only real estate agents have the market knowledge and experience to price a home correctly given real-time conditions, but also effectively market that home to interested buyers. Real estate agents bring to the table a wealth of local knowledge, marketing strategies and advantages that individual home sellers simply don't have on their own, and increasingly don't care to take on themselves anyway.

As the data suggests, working with a real estate agent to sell your home simply makes financial sense, and also makes the entire transaction faster, easier and far less stressful.

Beginner's Guide to Building a Team

2006-05-05T10:14:00.000-07:00

If you’re like most real estate agents, you’ve dreamed about getting more free time and increasing your income. But maybe you didn’t know how, or didn’t think you were ready yet. By working your prospects with the support of a team, you can achieve the kind of success you want—and it’s a lot easier than you think.

How do you know you’re ready?

Most successful agents say you should start hiring a team when you:
* Lose business because you don’t have time to follow up
* “Have no life” because you’re working all the time
* Close 25 to 35 transactions a year and simply can’t follow up on all those transactions and still find new prospects
* Seem to spend all your time handling paperwork and putting out fires
* Do $10 an hour tasks, like filling flyer boxes, instead of $100 an hour jobs, like negotiating a deal

Every agent has an a-ha moment sooner or later. For Tonia Mann, an agent in Lawrenceville, Ga., it was at the HouseValues “Agent CEO” conference. “It got my attention and was just what I was looking for. I knew I needed to hire other agents to help me reach my goals.”

Where to Start
When creating a team, most agents start with an unlicensed assistant. At first, this person may work hourly filling flyer boxes. Over time the assistant’s responsibilities can grow to handling administrative tasks, taking house measurements and photos, and responding to email.

Virtual assistants are another increasingly popular start to a real estate team. Working on an hourly basis from their own home, a virtual assistant may be a more affordable alternative to setting up an office for a traditional assistant. There are usually fewer training and equipment requirements for virtual assistants.

When Tonia Mann started her team, she researched different business models and picked the one that suited her best. “We wanted to have new agents on our team so we could train them in our way, the Internet way of doing business. We didn’t want them to know the old way of cold calling, etc., because they take too much time with little result.”

Tools for the Team
Market Leader provides an easy way to start working with an unlicensed assistant, virtual assistant, or buyer specialist. Simply set them up with a Market Leader account, divide up your follow-up tasks, and schedule regular check-ins to ensure maximum effectiveness.

You can add other positions over time as your business grows: closing coordinator, office manager, and one to four buyer agents, using Market Leader to manage them. “Team Manager is a feature in Market Leader that I use to keep track of all the leads I refer to our agents,” said Tonia. “It’s a tab on top on your Market Leader home page.” The Team Manager feature lets you delegate leads and keep track of how quickly each agent on your team responds to them.

Team Success
Tonia’s success increased dramatically when she got her team in place. “In 2004, with two buyer agents, we doubled our business from 2003, with 86 transactions,” Tonia said. “That’s the top four percent in the nation, and number four in Coldwell-Banker. Over half of that business came from HouseValues leads.”

By investing in a team, you’ll have what it takes to grow your business much more quickly than you ever could alone.

Proof that Realtors save sellers time and money

2006-05-03T10:55:00.000-07:00

Agent CEOs already KNOW this, but now there's simple, statistical proof that FSBO sellers are losing a significant amount of time AND money by not working with a real estate agent.

Click here to read a short post on the HouseValues blog explaining the research behind this.

You don't need bigger magnets

2006-05-02T16:25:00.000-07:00

There have been many articles written on how to work with Internet consumers. We know that they need a quick response, we know they expect instant service, we know that effective email communication skills are key, we know that they expect access to a lot of information on their own, etc.

What no one discusses, however, is the fact that we need to take the time and make the effort to convert these Internet relationships into personal relationships. Real Estate is and always will be a numbers game, but it's also a people business. We can use technology to work with more people than ever before possible allowing us to make more money in less time.

Technology, however, is only a tool. Technology opens the door to help us meet more people and helps us begin to create that relationship, by quickly providing the information requested and consistently staying in touch to earn their trust.

To build that relationship, we need to establish personal contact – phone or drop-bys. Following up with a phone call, using a script like, “Hi, this is _____, with ____. I am calling to make sure you received the information you requested (state where they made the request, i.e. from my website) and were able to view it.” This is an effective service call. That is WOW factor service. When was the last time you requested something online and someone actually called to make sure you received it?

As a whole, agents tend to be call reluctant. However, most consumers actually appreciate the follow-up.

Or, if you have an address, drop off a hardcopy of some information. It provides you with the opportunity to meet face to face. The agents who have worked extremely successfully with Internet leads know that personal follow-up yields results. Their conversion rate from leads to transactions skyrockets as soon as they make the time to build that personal relationship.

Awhile ago, I spoke with an agent who was frustrated about working with Internet leads.
He told me he had been working the leads for about 1 month and they hadn’t converted to listings or sales. I explained to him that Internet consumers take a little more time up front, but when they are ready to go, they choose an agent quickly. I told him that research tells us 62% of consumers select their agent in 1-3 days. And NAR mentions that 73% of consumers work with only one agent. That means if you provide service, personalize the relationship and stay in touch, you have a distinct competitive advantage.

I asked him how he was following up. Calls? Drop bys? He told me he didn’t like to call or drop by. He told me that he sends out magnets.

I asked him if he would consider making the follow-up phone calls or doing drop-bys, since most Agent CEOs have had great success with the Internet leads once they made that personal contact.

The agent told me he was a top producer, and closed almost everyone he worked with. He told me he didn’t want to make phone calls or drop by. He had a better idea. He would just send them bigger magnets.

So, real estate is a contact sport. If you would like to experience great success, personal follow-up is essential. If you schedule time to do that, you can then treat it as an appointment with yourself to grow your business. If you don’t schedule it, you probably won’t do it. It is not just about time management. It is really about self-management.

Don’t just send out bigger magnets!

A little down time (or monkey business)

2006-05-02T09:58:00.000-07:00

Those of you who know me know that I love a little monkey business. That's what I call a good joke, or fun little game that lets my brain relax for a bit. Even hard-working Agent CEOs need to let off some steam and relax every once in awhile!

The little game you can find here is a lot of fun. Click on the bear, and click again to swing. See how far you can "bat" the penguin through the air and across the snow. It's addicting, and a great brain break!

To make it interesting, let's have a little contest. Play the game a couple times, and post your "high score" in the comments section. I'll have a little prize for whoever can get the highest score (no cheating, please).

Click here to start playing.

Have fun!

Internet Marketing made all the difference

2006-04-28T14:42:00.000-07:00

Agent CEO Holly Clark was the guest speaker at the HouseValues seminar recently in Fairfax, Virginia, and shared that she had won and subsequently sold seven listings so far this year, beating many more tenured agents in her market. She attributes this to her aggressive Internet-based marketing strategy, including HomePages and JustListed.com.

In her listing presentation, Holly actually lists 10 reasons why sellers should list their house with her - the first being her Featured Homes strategy on HomePages.com, and the second is her ability to attact interested buyers with JustListed.com.

"By the time I get to JustListed, they're already signing the listing agreement," Holly said at the seminar.

But after the seminar, she had a big listing appointment. She got the listing, with the same listing presentation strategy, and it was her biggest listing to date - a $819,000 home, well above the medium home value in the Winchester area. This is the highest-value listing anyone in her office has ever achieved.

Great work Holly!

Profitable People Skills

2006-04-24T20:29:00.000-07:00

Most real estate agents, and especially Agent CEOs, have fabulous people skills. But are you putting people skills to your best advantage, specifically to help you make more money?

Last week, Mastermind and Agent CEO Don Love spoke about his profitable people skills and proven personal delivery methods, and gave advice to thousands of listeners. Here are highlights from that call.

Featured Speaker: Don Love, Portland, OR
Moderator: Raymond Gravelle, Distance Learning Specialist

Raymond: Don, would you let our audience know how you earned the title of “the godfather of hand deliveries”?
Don: When we joined HouseValues six years ago, Market Leader did not exist. We received only leads. So I would call, email, etc., but we didn’t get any business. Finally my partner Steve and I figured out that we must get in front of people to win business from the leads. That’s when we started doing hand deliveries on Saturday morning. Then the leads started to turn into deals. I urge everyone who is serious about a career in real estate to get a partner or buddy to assist them. The help with the hand deliveries is a godsend.

Raymond: What is the goal of hand delivery?
Don: The goal is to find out the story. Introduce yourself as the local real estate representative. Explain that you stopped by with a hard copy of the consumers' request because with email you never know if the information went through. The 10-page packet that I hand deliver includes my introductory letter, a sheet on pricing a home, a home-condition page, testimonials, and an explanation of our services. Our seller service guide shows the different commission percentages and what service each provides. This gives the seller a choice.

Raymond: What do you say at the door?
Don: I ask questions like: What did you think of the numbers? Were we close to what you were expecting? If you sold a home, where would you want to move? Would you like to receive listings? Of all your friends and family, who is going to be next to move? Is it okay to use you as a referral? After each question, I probe deeper with exploring questions. I also take notes on a printed copy of the profile. I always say, “Let me make a note of that, let me make a note of that,” an old Tommy Hopkins trick.Remember that most people didn’t read the fine print, so they don’t know an agent is coming. Yet they love the service. The National Association of Realtors® tells us that 74% of consumers will go with first agent they meet. Some prospects will always work with a friend or family member who is an agent. You can’t worry about those. Hand deliver to everyone even if they say don’t worry about dropping by.

Raymond: What do you do if they are not home?
Don: Leave my package, then call them and try to go through the same questions. Then I try to pin down a time for full evaluation.

Raymond: Are most people receptive?
Don: Everyone likes quick information. With the sellers you can drop by on the weekends because you have an address. With buyers you need to act a little faster. Find information in the tax records if available. I’ve found about 30 to 40 percent of buyer prospects own houses. Every seller is buyer first; they have to find a house before they can sell. You should always send listings to seller leads. Use the email template that offers to send listings, and send it multiple times if needed. Do your buyer drop-bys on weeknights right away. Measure their motivation; see if the buyer has a lender. Buyer leads are more critical than sellers these days because inventory low. Packet quality is important. Print on heavy, white paper. Quality makes the difference. One of my clients kept my packet for three years and then called for a listing presentation. She had kept it because I made a strong impression and gained her trust.

Raymond: What do you do differently in hand deliveries now as compared to six years ago?Don: We now try to find out a timeframe for when the prospect will take action. We touch base through out that timeframe via email. Then I find a reason to stop by. I take them something of value.

Raymond: What new technology are you using to facilitate hand deliveries?
Don: We use Microsoft Streets and Trips software. It’s an inexpensive mapping program. You can enter unlimited addresses and then it routes your trip. We also use this to deliver calendars in the autumn.

Raymond: Give us an update of last year’s marathon of calendar hand deliveries.
Don: It was lots of work. We didn’t realize how many prospects we had until we ordered calendars. You need to order in July to receive in August. We try to be done delivering by Halloween. Some prospects are on their third or fourth year of calendar delivery. We offer two types of calendars: either puppies and kittens or Saturday Evening Post. You must get in front of prospect continually. Many people now know me by name. You can’t get a better testimonial than that.

Raymond: How many hand deliveries do you think you’ve done?
Don: Over 2,000 in almost six years. The best day of week is Saturday because I get to go meet the people. I want to find out the story: what’s happening in their lives, is this a divorce, how we can help.

Raymond: What are you doing with HomePages?
Don: HomePages is a very valuable listing tool. It is offered in my listing service plan under Platinum and Gold plans only. The plans just mention HomePages with no explanation because I want them to ask me what HomePages is. Then I explain the benefits of HomePages in consumer terms. It gives me an advantage. I don’t talk about commission until we are sitting down at the table. At the door, I simply say there’s a page on pricing in package.

Question & Answer

Question: Why do you choose Saturdays for hand deliveries? Do you call them before visit
Answer: I choose Saturday because many people work Monday through Friday. Saturday catches them relaxed.

Question: Many of my emails go to people’s spam. Do you address that at the door, and do you ask them to add you to their email address book?
Answer: I suggest adding me to their address book in the pre-email. Then I say at the door that one of the reasons I drop by with a hard copy is because I never know if the emails go through.

Question: What percentage of Internet leads do you think you have converted?
Answer: I’m not really a numbers person, so I don’t track that. My partner does track that. To me, cashing checks is the important thing.

Question: Would you fire a client for being dishonest?
Answer: You get to choose who you want to work with, but you also have to make a living. There are always underlying reasons why people may not tell you everything. They don’t know you.

Question: What do you do when you can’t get face to face—for example, with out-of-state buyers?
Answer: You must follow up whenever possible. If you can’t get face to face or on the phone, you must rely on the drip campaigns.

Your Photo is Worth a Thousand Transactions

2006-04-23T09:18:00.000-07:00

First impressions can make or break a real estate agent. As the saying goes, you never get a second chance to make a first impression. It’s essential to put your best foot forward all of the time – including the photo you put on your printed materials and emails.

On the traditional side of marketing, Dee Nott of Fayetteville, N.C., finds that the first impression created by her ads have led to an increase in business. “I get a lot of calls on my ad using my photo,” she said. “People comment that they called me because I didn't look like a stuffy agent. I even get recognized around town.”

The perils of a bad photo are many. George Wurtzinger of Machesney Park, Ill., told this story: “My first broker sent me to the photographer where they had a house account that was conveniently located across the street. Now, I know they didn't have much to work with, but she managed to capture blemishes that were still deciding if they would be born or not. I never saw a photo that was in such perfect focus. Portraits should be soft. Mine wasn't.” Naturally, George found someone else to take his photo.

Jim Wolcott of Burlington, Wash., said, “Methinks that in the case of the Internet, you only have about five seconds to make a good impression. Maybe less.”

So how can you ensure your photo makes a great first impression?

- Make it a head shot. If people can’t see your face, they won’t feel connected with you.
- Smile. Straight-faced mug shots are a surefire way to turn off a potential client.
- Avoid distracting or “busy” backgrounds. The most interesting part of the photo should be you.
- Look your best—but not so good that you’re unrecognizable in person.
- Stay up to date. If you change your appearance significantly—hair color, eyeglasses, etc.—it’s time for a new photo.

Eileen Landau of Naperville, Ill., offers this advice: “Find a good professional photographer. Make a hair appointment at least a day before, 'cause if you cut your hair, you'll need to feel comfortable with it. The ladies will know what I mean. Women should also use makeup. And consider what you're wearing. Bring several different outfits. With digital pictures you can immediately see what looks best. Then shoot away.”

After you’ve had your photo shoot, choose a photo that’s warm and friendly and use it consistently in your marketing. George Wurtzinger explains effective photo strategy: “[Personal marketing gurus] suggest action shots that tell a story. A few agents in my market are [using action photos] and what a difference! They really stand out.”

And that’s a key to winning more business.

Contribute to the HouseValues Employee Cookbook

2006-04-21T15:37:00.000-07:00

OK, this is a bit off topic, but it's for a great cause, and it's also a lot of fun!

The folks at HouseValues are collecting recipes for their first-ever HouseValues Employee Cookbook, and all of the proceeds from sales of the cookbook will be donated to Hopelink, a great organization in the Pacific Northwest that helps homeless families get into affordable housing and back on their feet.

The cookbook will be made up mostly of recipes submitted from HouseValues employees, but they've agreed to also include recipes submitted from all of the Agent CEOs out there.

If you have a favorite recipe you want to share, please email it to recipes@housevalues.com. Please include your name and where you're from, so they can credit you with the recipe.

Once the cookbook is published, I'll let you know how you can pick up a copy. You're going to want this - not only is it for a great cause, but it's clear from this post HouseValues has some great cooks.

Feel the Doubt, but Follow Up Anyway...

2006-04-21T11:45:00.000-07:00

I consistently advise agents to follow up with every prospect – no matter what. It’s my mantra, and it should be yours too.

Why? Because it works. Great success springs from working with many different prospects over the long term. On the other hand, if you second guess yourself and let doubts get in your way, you can almost guarantee that nothing will happen.

Sometimes agents think, “The prospect told me that they just wanted information, they only wanted it so they could refi, they were just curious.” Or worse, they find the home is already listed. Successful Agent CEOs have these doubts and challenges, too, but they follow up anyway—and they earn high incomes.

When you encounter these doubts, it’s important to remember that in many cases the prospect initiated the contact. You’re simply responding to a request for information. If a home is already listed, your response is entirely ethical because you are not interfering with any contract. In fact, the prospect will be more disappointed if they receive no response at all.

Time and again, top agents win new clients even when the prospect appears unlikely to become a transaction at first. For example John Reit, a relatively new agent from Redding, Calif., struggled with the decision to respond to a recent prospect, saying that he knew the property was not in a good area and would be difficult to market.

Nevertheless, John followed the "treat all prospects equally" mantra and gave the person a call. John later said, “Do you know what? His child is in my wife’s class. He has other real estate needs too. His listing expires in 10 days. We had a great conversation and he’s anxious for me to come over once his listing expires.” If John had followed his gut, he would not have called, and he would have left money on the table.

So often we feel we can guess the motives and worth of an Internet prospect. In truth it’s tough to do that while meeting a person face to face, let alone online. There’s no telling what story is on the other side of that “Submit” button -- until you ask. Only by following up with every lead and committing to the process wholeheartedly can you maximize the potential earnings.

Patience and persistence pays off!

2006-04-19T09:13:00.000-07:00

I'm making a swing through Florida this week, meeting with some very impressive Agent CEOs. But last night I heard from an exciting Agent CEO in Memphis Tennessee - Sue Parker from RE/MAX Elite Memphis.

In less than two years, she's generated more than 21 listings from her Internet marketing efforts. That's more than one per month on average! Her secret? Patience and persistence.

Case in point: She met one prospect online back in September of 2004. The prospect wasn't ready to sell, but Sue knew it was only a matter of time. She put the prospect on her email marketing campaign and went to work on her other business. Earlier this month, eighteen months later, the prospect listed her home with Sue.

That's patience and persistence at work, and without that important strategy Sue probably woulnd't have earned that customer's business. Great work Sue!

Making Market Leaders

2006-04-12T19:32:00.000-07:00

Wow, check out the story about Agent CEO Holly Clark on the HouseValues blog today. An inspiring story about how working with Internet consumers can make an enormous impact on your business. Don't worry if the other agents in your office aren't doing it. If your story is anything like Holly's, they'll soon be asking you for advice!

Breakthrough Marketing for a Changing Market

2006-04-11T21:08:00.001-07:00

On last week's Mastermind Conference Call, sponsored by HouseValues, Agent CEO Tonia Mann shared several stories about how she's leveraged Internet leads to grow a large and successful real estate business - including nine buyer agents and two assistants. Since joining HouseValues, Tonia's team has been ranked #1 in the Atlanta market and #5 in the U.S. by Coldwell Banker.

Highlights from her call are below, including how she's responded to a changing real estate market with new strategies that have continued the growth of her business.

Featured Speaker: Tonia Mann, Atlanta, GA
Moderator: Raymond Gravelle, Distance Learning Specialist

Raymond: Tonia, please share with us how you tripled your income in two years.
Tonia: I created a business plan which included building a team. There are now 13 on my team: my husband Don, nine buyer agents, two assistants, and myself.

Raymond: How did you handle the market shift in Atlanta?
Tonia: The market shifted to the buyer side. We converted our HouseValues subscriptions to JustListed subscriptions. It was easy to transition and take advantage of the change.

Raymond: What were your production figures for 2005?
Tonia: We closed 153 transactions last year with $875,000 in gross commission income -- $430,000 of that from HouseValues and JustListed.

Raymond: What is your system for working the HouseValues leads?
Tonia: I immediately send the pre email, then a wide range CMA with two comparables. Don and I hand deliver a pre-listing package. My assistant does the follow-up phone calls, offering service.

Raymond:How do your buyer agents work the JustListed leads?
Tonia:Our assistant sends the pre email and sets up a search, then refers the lead to an agent. That way the prospect receives a response immediately in case the agent is in the field. The agent follows up and I keep track of how they’re doing in my Market Leader.

Raymond:What is the systematic approach your buyer agent, Carla, shared at a recent seminar?
Carla: I needed a process to give me a grasp of what my numbers were. I use the category field in the prospect’s information page to add the expected purchase month. I bring them up in List Builder and touch them more often close to their month. I spend the most time on 30/60/90 days. I call and/or email with the message, “It’s getting close to the time you indicated you wanted to buy. What more can I do for you?” I also use the category field to prioritize. If they respond by email or we had a phone conversation, I add “LC” (which stands for live contact) as a category.

Raymond: What are your results?
Carla: I use the information to help me get a sense of my conversion rate. My stats for six months were 211 in my database, 64 who had unsubscribed, leaving 147 potential prospects. Seven sold in that timeframe – that’s one in 14, better than the industry standard of one in 25. Now I know to keep doing what I’m doing because I’m getting good results.

Raymond: Are you doing anything new for 2006?
Tonia: Yes. We just subscribed to HomePages. I will be sending a postcard with the message, “Look at your home in a whole new way,” to drive people to our HomePages Web site.

Question & Answer

Question: Most of my prospects aren’t really interested in selling, they’re just curious about the value of their home. How would you handle them?
Tonia:I maintain the relationship over time. I get listings from prospects after they’ve been in Market Leader for years. That’s because at the very least they are getting the automatic email campaigns. My assistant also calls if she has a phone number whenever that activity pops up.

Question: Do you get buyers to sign a contract?
Tonia: I personally meet them and show a few houses before committing. I’m not sure I want to work with them and vice versa. Work on building a relationship by offering and providing service.
Carla: I have an email template that explains buyer agency with “someone who cares” and “buyer services – priceless.”

Free Marketing Webinar next week

2006-04-06T16:02:00.000-07:00

Wanted to let all Agent CEOs know about a great learning opportunity next Tuesday.

On April 11, HouseValues is offering a free Webinar to help you better connect with the millions of potential customers using the Internet to search for and to sell homes. Did you know that 77 percent of home buyers use the Internet for their home search, yet only 11 percent of real estate agent advertising is online? Seems inbalanced, doesn't it?

The Webinar will also feature Donna Harris, a Dallas-based real estate agent who will share her secrets of how she’s built her business, the majority of which comes from online leads.

The Webinar takes place at 11 a.m. Pacific Daylight Time on Tuesday, April 11, and will last for one hour. You can register at http://www.freehousevalueswebinar.com/.

Via this seminar, you will:

* Discover the three core benefits of working with Internet consumers.
* Understand how and why Internet consumers are different from non-Internet consumers.
*Learn how to beat out competitors by shifting traditional advertising to Internet marketing.
*Tap into the best online sources to reach the greatest number of Internet-savvy consumers at the lowest cost.
* Learn to use Web capture, automated follow-up campaigns, and e-farm to consistently expand their pipelines, close more transactions, and generate referrals more often.

No strings attached, no subscription required. Sign up today at http://www.freehousevalueswebinar.com.

Success Stories From the Road

2006-04-03T11:37:00.000-07:00

As most of you know, I spend a good amount of my time traveling the country, speaking to agents about the Agent CEO philosophy. It’s exciting for me to speak with so many successful agents from across the country, not only to hear what the local markets are like but to hear so many individual stories of success.

In most cities I visited in March, the real estate markets has definitely changed. This seemed especially true in Florida, where an extreme seller’s market experiencing 23-26% appreciation is now much more balanced. Newer agents shared concern about this change, but the experienced agents find it much less stressful. They no longer have to write up eight buyer offers to get one accepted. Instead of considering this change a negative, they literally told me “now it’s back to normal.”

A few more specific Agent CEO stories worth sharing:

Mary Kreulskie in Tampa joined HouseValues about a year ago, after having been in the real estate business just three months. She had tried many of the traditional prospecting methods her broker taught her, but wasn’t getting anywhere. A year later, she had not only closed several transactions directly from Internet leads, but used her prospect management tools to turn those customers into several referrals.

Linda Harper in Orlando has grown her business so quickly that she has her son assisting her. Simon Conway from Orlando earned more than $450,000 in commissions last year by working his Internet leads better.

Roger Nakazawa in Washington DC mentioned that for every dollar he spends on his current marketing strategy, he receives five dollars back. That’s a 500% return on investment. Awesome!

Rayna Henchon in Austin has been a real estate agent for two years, and a subscriber of JustListed.com for one year. I remember her from last year, when she told me she was inspired by Sherry Daminski and wanted to exceed her prospect pipeline (which currently stands higher than 15,000 prospective customers). Today, Rayna is on her way, with more than 4,000 prospects and positions open for two full-time assistants to help her.

Catherine Gortner told me in Fremont, California that Internet leads from HouseValues account for 80% of her business.

It’s April, and 25 percent of the year is behind us (can you believe it???). Are you 25% towards your 2006 goals? If not, how do you plan on getting back on track? You are the CEO of your business. Make new goals, and stay focused. Incredible success still awaits you this year!

Now is your time!

2006-03-31T11:54:00.000-08:00

If you haven't read it yet, Business Week just posted a comprehensive cover package on the changing real estate market. Some good insights into how the market is shifting, and how various players - including and especially real estate professionals are responding.

I've become a big fan of Business Week's "Hot Property" blog - it has fascinating insights into what other companies are doing in real estate, trends on home buying & selling, and recently what real estate professionals are doing in the face of a dynamically changing market.

This morning, Todd Gutner wrote about the possibility that "media hype" is adding to fluctuations in the market. What I found most interesting about her post, however, was her final comment about how real estate agents react to a market that was red-hot this year, and suddenly more complicated this year. She writes:

"Some of these Realtors I spoke to were looking to blame the inevitable cyclical nature of real estate on something. Many of them are coming off their best year ever in the residential real estate business, but they seem to have forgotten that like stocks, real estate goes up and down. When business gets tough, that’s when it is time to start thinking out of the box and get creative."

As an Agent CEO, you know that factors within and outside your control are constantly tugging at your business. You have to take full control, and full responsibility, for how your business grows - in good times and in bad. Smart agents nationwide are taking advantage of changing markets and more educated consumers to grow their business, even in tough times.

Use this market to your advantage! Step ahead of your competition and "wow" your customers. Deliver unprecedented customer experience, be the neighborhood expert, and watch your business continue to grow.