Thursday, May 17, 2007

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

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.