It's all about what my seller wants - or is it? It's YOUR job to EDUCATE!
Posted in Technology, Tools and Tidbits By Mike Sparr, Friday, July 18, 2008."It's all about whatever my seller wants to hear."
Recently I've read some interesting comments in some of the blog posts about agents adopting new marketing tactics - or not adopting them for that matter.
What stands out in my mind the most is a comment that read, "It's all about whatever my seller wants to hear." Stop there. Isn't it also about the buyer? These comments triggered an irritation that just needed to be scratched. So here we go.
Ultimately, yes, if you want to win listings, pleasing the seller is what needs to happen. But as an agent, you also have the responsibility to educate your sellers as well on what their potential buyers want. Chances are, they don't know the consumer profile like you do. They probably do not know the response rates you are receiving on your web site as compared to your newspaper ads. They know people are looking at their flyers in front of the house, because they seem to disappear almost faster than the boxes get refilled! But they hired you to sell it because they either don't know how or don't have the time!
Analyze their home and potential buyer profile.
When you are presenting to your potential clients, tell them what you are using and why as well as what you aren't using, and why. Tell them who their consumers are for their property, how they are finding out about homes for sale, and how you are going to attract them to their property!
If you are throwing money into the wind on newspaper ads, tell your clients the ROI on them just isn't as great as it used to be; the cost is sky high and you aren't actually receiving leads from them unless the buyers call you! You're budget can be best spent elsewhere.
* They live close to a school (young families).
* They own an older home that needs a bit of work, but it's in a great neighborhood and it's under priced a bit as the economy seems to be taking a nose dive. (young to mid-age folks who have the strength, time and a few extra bucks in their pocket to make this home perfect for their needs).
* Being in the heart of downtown, the neighborhood receives a lot more traffic than living in the country. More traffic = more drive buys! Remind them that the 3rd top way that home buyers found their house was via yard sign; only to be passed by their REALTOR and online.
* Today lives are much more fast paced - especially in a downtown setting; consumers are doing a lot of research on their own before coming to a REALTOR. The more information that's readily available to them, the better.
So, you've found a new technology that makes up for that lack of response. You put all these ingredients together and decide that this could be a great tool to attract buyers to their property. Text message marketing. WHAT?! Be careful, new + technology may scare some people if they aren't comfortable with it! But also, it may surprise you to know that your sellers LOVE your idea. They didn't know it existed and they are excited to see that an agent is trying something new. LISTING WON!
Why it will work.
If they are still unsure why you've chosen this specific tool (it's for young people, they don't know how to text so neither does anyone else, etc - I've heard it all folks!), remind them that 75% of consumers send and receive text messages and no, it's not just people age 25 and under! It's all ages. 58% are 25-34; 43% are 35-44; 33% are 55-64 and 19% are 65+. WOW FACTOR!
Now you've answered these questions for them.
* Who is their consumer?
* How do they get information?
* How are you, their agent, going to attract them?
These NEW marketing tools weren't designed because they are "cool". They have been designed becuase there are needs to be fulfilled in the real estate market to help you satisfy consumers, generate leads, measure your marketing reach and most importantly help you SELL MORE HOMES.
Rant conclusion.
When you are presenting to your potential clients, analyze their home, the potential buyer profile and tell them WHY you are using the tools you've chosen to sell it. It's your job and they hired you because they trust your opinion!
Fun side note.
My father, who just turned 60 ( I love you Dad! No one would never guess it!) found the greatest thing on his phone recently. PHOTO messaging. One snowy day in June, I received about ten picture messages of his house covered with three inches of snow. I LOVED IT!!! Who would have thought? ME!
Although since then I do know that I'm not his #1 photo texter - that goes to my 4 year old niece and 2 year old nephew who have become the light in his life. Seeing a picture of them everyday just warms his heart.
My family and friends know that the quickest way to get a hold of me is by sending me a text. I don't listen to voice mails, it takes too much time. If they do leave a voice mail, I generally just send a text message back telling them I'm busy but asking them what they want. I take my phone everywhere and it takes me 1 second to look at a text. Open phone, open message, read, respond. Okay a total of ten seconds and we've communicated!
Happy Presenting!
Erika

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Submitted by GA-agent.com on July 18, 2008 - 11:32am.
This is a great look into the ever changing world of real estate marketing and the impact new technology will have on how sellers choose to market their properties in the coming years.
Let's hope that sellers will still feel they need to be educated by a real estate professional...the web has so much information and so many choices it would be hard not to think "I can do this myself"...
GA-agent.com
Georgia Real Estate Directory
404.660.6153
Submitted by Jeff Manson on July 18, 2008 - 1:49pm.
As an agent, you should always tell the truth to the seller or the buyer. You need to educate them in reality. If you are just telling them what they want to hear, you are not helping them or your efforts in selling their property (especially in this market). If you are an agent that wants to carry allot of over priced listings and get a reputation of not telling the truth, by all means tell the seller exactly what they want to hear.
I would hope an agent would tell family and friends the truth and not what they wanted to hear. Why wouldn't they deal with their clients the same way?
Jeff Manson
American Dream Realty
46 Hoolai St.
Kailua, Hawaii 96734
808-792-7040
Personal: Maui real estate
Company: Hawaii real estate
Submitted by Justin Britt on July 18, 2008 - 2:03pm.
If you just tell the seller what they want to hear, sure you'll make them happy in the short term. But when their property doesn't sell, they'll just be more upset in the end. And now you've wasted your time and money marketing a property that is over priced. It's a waste of your time.
Being a good agent means being upfront and honest with your client. Educate them about the market and what buyer's are looking for. This will be a win win for both of you.
--
Justin Britt
Head-Web-Head
Hawaii Life Real Estate Services, LLC
Oahu Hawaii real estate | Real Estate Marketing
Submitted by Pasadena Real Estate Agent on July 18, 2008 - 3:11pm.
I am not into pleasing anybody, I let buyer or sellers make decisions on their own and when a seller wants to dictate how I will market his home I don't take the listing.
Regards,
The Manzo Team
RE/MAX Tri-City
Remax Pasadena
626 296-2900
Pasadena Real Estate | Pasadena Realtors |