Posts Tagged ‘Advertising’

Glenn Twiddle

How Much Money Did YOU Leave on The Table This Past Weekend ?

Article by Glenn Twiddle
Founder – QREAS Real Estate Agents Summit
Author of ‘Advanced Hypnotic Selling’

Hi there team,

A few weeks ago I ‘mystery shopped’ eleven agents’ Open Homes. (Well some of them may have recognised me so I didn’t do it myself, so I had a lovely woman go into the properties for me, while I waited in the car and took notes.)

The point of this exercise was not to disparage one agent from another, or even one office from another. I removed the names of the individuals, for legal reasons, and the fact is the ‘who’ here for our training purposes isn’t necessary. What is instructional is these were very real and randomly chosen open for inspections, and I wanted to comment on how we can improve our ‘front line’ service to the people who are effectively paying our wages, the clients.

Now, before you download this and analyse, I want to decribe what I did, precisely, so you can judge for yourself how you might have fared with these criteria.

The ‘follow up call’ criteria (which by the way, by Monday 5pm, out of everyone studied only ONE even called) was this…

Full points – if they called by the end of the day my ‘guest’ visited the open
Half point – If they call by end of trace Monday (I understand we’re still not there yet at the time of this posting)
X – if they don’t follow up by Monday 5pm at all.

The other criteria requiring explanation is the ‘quality of take home material’ heading.

Full points if their material is – a full colour, glossy and presentable flyer or booklet AND/OR is bound so has a spine and can’t be easily discarded with all the other rubbish.
Half points if it’s a full colour, but obviously printed in the office on standard paper, and isn’t bad, but is still not quite of the quality we might want representing our biggest asset
X – if it’s black and white, photocopied in the office, throw away as soon as you leave, rubbish.

That’s about it, the rest of the headings are self explanatory I hope.

This study is completely factual. The study was undertaken on April 17 in Brisbane. I have removed the names of the individual agents so as to avoid personal embarrassment, but seriously, the results here are not as gfood as they could be with a few minor tweaks and improvements.

Now, of course, my criteria might be different to other people and of course future sellers who visit your open house have their own criteria, but some of my recommendations for improvement might be food for thought for you who are reading this and want to improve.

I am putting a challenge out to all real estate agents, and I will be persoanlly inviting these agents, who by the way, aren’t bad, this is the standard out there. Some of these agents, in fact, in many ways, are as good or better than some of their competitors. (Well, not the ones who just didn’t show up….Yes 2 out of 11 were complete no shows to an advertised Open House !!)

But I will be inviting these people to come to an event I am taking part in called QREAS, the Real Estate Agents Summit. click the link for more info. Because I PROMISE them, I can double their commissions if they spend just one hour with me. DOUBLE !!! AT LEAST !!!!

Ok, here’s the results. Comments welcomed from agents.

Mystery Shopper Results  –  click or download this file.

Note after the fact – I note on my secret shop that we had a no show (well I note we had two). I just spoke with one of the agents who wasn’t there at the advertised time, and he had on his records 2pm and the Courier Mail printed in the paper 1pm.

From the sounds of it, following the discussion, the agent seems very competent and it’s a shame a mistaken Courier Mail mix up was on the day I did my investigation. (Better it was me though than a serious buyer or seller though)

Lesson here is – be brutally, brutally picky when it comes to proofing your ads amd setting up ‘game day’ because if I was a future seller, that mix up could have potentially cost the agent in question a commission, potentially $10,000 +

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Tom Caraccio

Just for the Record…The Real Estate Marketing Blueprint!

It’s time to set the record straight! Just this week gone by I was chatting with a client about marketing, and how a successful campaign has several steps that must be followed for success. These steps are lead generate, lead qualify, lead follow up and lead conversion. This is the basic structure of what a marketing system for real estate agents should have at a minimum.

Once I finished drawing this out for them and really giving them the winning formula to be successful in real estate sales, (In fact, thinking about it now this advice could be worth thousands dollars to the right agent), this particular agent responded with, “Wow there’s a lot of steps involved. Wouldn’t it be easier to just advertise for the people who are ready to sell right now?”

And the short answer is, yes. But in this imperfect world we live in, it doesn’t work to advertise for people who want to sell their home now. Real estate marketing just doesn’t work that way.

Real-Estate-Marketing-Blueprint

You see real estate sales success requires a human factor and that factor is a level of trust that prospective vendors feel about the agent they choose. So the chance of you being chosen to sell someone’s home from an advertisement saying, “We are the best” is very slim and some professionals would say as slim as 0.1%.

And that is pretty poor results. In some demographic areas that wouldn’t even amount to one sale, so it would be fair to say that that particular strategy doesn’t work.
So how do we boost our marketing? How do we guarantee that our marketing will pull motivated, qualified prospects that will eventually convert into clients?

It’s a simple strategy but one still not understood by many agents. If you took this strategy and got a little creative with it, it will bring you, like it brings my clients, unchallenged, results month in month out.

First you create advertising and marketing pieces that attract prospects to you; it’s all in the headline and the offer here. The headline needs to stop them and get their attention, and then the offer needs to evoke curiosity with some fear attached, so mentally and emotionally your ad or marketing will get people of their butts to take some action.  The offer should be constructed with the prospect in mind. What would they like to know about selling their home?

Why do we do this?

This way every lead that comes to the agent has already qualified themselves by requesting information about selling a home. “Wowing” the potential customer works well here. My clients also use Reports, CD’s, Books and DVD’s that have been carefully created by us, to deliver their information and this adds a level of “wow” and “authority” to their relationship they have with their prospects.

Next step is to qualify the prospects that respond to your marketing by placing a phone call to them, asking why they requested the information. They will give you feedback as to whether they just wanted the information for education or whether they have been thinking of moving. This step when done correctly will give you other valuable information such as time frames and reasons. This helps the agent determine motivation and sets the time frame for the next step, which is…

Leads follow up and this is done until the prospect dies or buys. As you can see this step varies in time from prospect to prospect. So try to keep this step as easy as possible and mix it up with personal contact, emails, newsletter and any other ways that trust can be built to a rock solid level.

During your follow ups you should be engaging the prospect with offers of useful information that they may want if they were moving into decision making mode about selling. For example you could offer a property report which helps them estimate a sale price by comparisons (CMA) and they can order this from the agent.  By the prospect requesting the information it would show the agent that they may be getting ready to make a decision and the agent can call them for a chat to convert the prospect.

So there you have it, a million dollar blue print to reliably get in front of motivated, qualified, sellers month in month out.  It’s up to you the value you put on this information, it’s either worth nothing to you or worth everything to you. Some of you reading this immediately identify why your marketing hasn’t been working up until now. Were you trying to get clients from your marketing, were you asking for business in your ads? Or were you trying to develop a long term relationship with potential vendors?

Tom Caraccio

The Only Vote That Counts Is The Client’s

If You’re Not Sure Whether Something Will Work or Not, TEST it Out and Let the Client Tell You Whether It’s Right.  Only Direct Response Advertising Can Give You This Power To Test.

Wouldn’t it be nice to know that when you send out a letter, or drop a flyer that people are actually going to call you, are going to want what you have?  I know my members sleep well at night, knowing that their marketing is working for them. This money making principle applies not only to marketing but to your sales process and sales choreography also. You should be asking yourself an important question?

“What does your client want?”

Failing to understand and address your client’s needs is one of the biggest mistakes you can make. Rather than assuming or guessing you know the answers, you should be asking your prospects directly by tracking and researching their needs. When it comes to advertising most people spend their money on blind faith, hoping they are going to get a return. This is an expensive and often tragic mistake. How do we put a marketing question to a vote? We test and compare one technique against the other.  The point is, this is not guesswork. You will be amazed that one approach always substantially out pulls all the other by a tremendous margin.  You’ll also be amazed at how many more sales you can realise from the same effort

The purpose of testing is to demand maximum performance from every marketing effort

So how do you do this?  You need to know your customers well. You need to know what keeps them awake at night, what they are talking about around the water cooler, what their wants, needs and desires are. Once you know all this, you have to design information that addresses this and positions you as the problem solver.  This is how they make up their mind about doing business with you. Real-Estate-Solution So, do you know the needs, wants, desires and frustrations of all your different types of clients? For real estate, the needs and frustrations of a first home buyer are going to be very different to someone looking at upsizing to a larger home and very different again for someone downsizing.  People downsizing may be doing so because they can’t afford to keep the place they are in, maybe there is all this empty space to keep clean and it frustrates them. Whereas your first home buyer is nervous; they are excited but are anxious about entering the property market.  You need to know all of this.  Once you can “enter the conversation your clients are already having in their head” it becomes easy for them to do business with you.  You become the obvious choice, as you seem to know what they need and want. Once you start to master the art of asking questions of your clients to see what their needs are, once you start marketing yourself from the point of what your clients want, you will see the money start rolling in.  Who would you choose; someone who understood your wants and needs or someone who couldn’t relate to what you were saying and had their own agenda? I know who I would pick. I am sure you would agree that many others would do the same. So remember in marketing and in your sales process, the only vote that counts is the clients.

Petra Sprekos

Counting the real value of your advertising

Australia is a market of duopolies. In every sector there are 2 to 3 players which dominate the landscape and in our market it is no different. As a select few players have such a strong presence in the market, real estate agents are at the peril of the industry and face the rising costs from portals for online advertising.

So whilst advertising your properties online and offline is integral to get the best sale price for your vendor, agents need to scrutinize their advertising spend to drive more value from their existing activities.

Re-thinking your advertising budget

So how can you drive more value from your existing budget?

STEP 1; The first step is to evaluate what parameters you use to buy advertising. Whilst some sites have high numbers of unique visitors, they also have more noise surrounding them, making it difficult for your listing to get the exposure it should for the investment you make.

Rather than buy based on total visitors, look at how many visitors are searching for your local area, and how many enquiries agents are receiving per listing on the sites you are using. This information should be able to give you more of an insight into what you will get from your investment.

STEP 2; The second step is to review your cost per view/lead target. Rather than look at the overall number of leads generated for the properties you are advertising, break the cost down to understand how much you are paying per view or per enquiry. By understanding this information in more detail, you will be able to compare sites like for like to determine which site provides the lowest cost per view and lead.

Once you have this information you will then be able to determine which sites provide the best return on your spend and re-allocate funds on this basis. It is also important to realize that some sites may perform better in certain areas ie renting vs buying thus it is also important to look at the value derived for each part of your business.

STEP 3; The third step is to set targets to achieve. Now that you understand how much you are paying per lead or view, put some targets in place to reduce your average costs then work towards achieving them.

There is no doubt that you will need to use a mix of sites to achieve this, but the aim is to optimize the return you get from your spend. Apart from maximizing the value derived from advertising spend on third party sites, you need to consider how you can attract more buyers / renters to your own site.

With over 80% of Australians looking for property online, a little bit of investment in SEO may go a long way, and this is one area that should not be ignored in your online advertising strategy.

Although the economy is picking up and the market is strong, putting the fundamentals in place to run a lean business will ultimately provide your agency with greater returns. Understanding the value from your spend now, will ensure your business will be able to effectively deal with price rises in the future.

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