What’s your marketing plan for every listing you take? Does it include more than listing a home on the MLS and posting a sign in the yard?
Technology has created competition for real estate agents as many think that a Realtor’s role has been diminished, but has it? Do sellers still need listing agents?
I was in Denver for a marketing conference and had lunch with a guy who just recently sold his house. So I started asking him about his experience with his agent and the selling process as I was putting this blog together.
Let’s just say that he didn’t like his agent too much. At the time, the market was hot and things were selling within days so as soon as the property was listed on the MLS, it sold right away.
What was he mad about?
He wasn’t mad, he was pissed. He couldn’t understand why he was paying 6% in commission for a Realtor who literally didn’t do much to sell the house. Their marketing plan was like 95% of agents out there, MLS + Sign= SOLD! This seller knew it!
So I took this opportunity to interview him and ask him what he would have wanted done differently. I wanted to see what would make the commission he was charged, justified.
Here’s his list:
- He wanted to be walked through the home selling process in depth. He wanted to know what was the back up plan should the initial house offering not be enough to sell it.
- He wanted to know what the agent was doing specifically to market the property. He wanted to see a step by step plan so he knew they were doing their job.
- He didn’t have any options with his agent. He was told not to worry about it.
- He wanted the Realtor to earn their commission.
This isn’t the first time I heard this, but a light bulb went off.
What if we gave sellers options to choose between different marketing plans?
First thing to do is to have a better marketing plan. Realtors in today’s market HAVE to get better at marketing their listings because sellers are expecting it. A Realtor’s job on a listing is to provide more exposure to the property than a seller could do on their own. This requires you to get better at marketing!
Here are 7 Ways To Better Market Your Listings
- Facebook Just Listed Ads– These are easy to set up and you can use this as a way to please your seller in addition to driving more traffic to your website to create spin off business.
- Just Listed Postcards– You can send out a post card campaign to the local area to increase awareness of your new listing.
- Property Video– Offer to have a professional property video done in addition to your professional pictures.
- YouTube Optimization– This is how you get your video to rank in You Tube. If you know what you are doing you can typically rank under certain search terms right away and sellers love it.
- Online Optimization– Trulia, Zillow, Realtor.com, and Homes.com is where the majority of search is done online. Optimization is all about investing in the upgraded packages these sites offer to get better placement and presentation of your listings for sale. You can purchase these packages for a fee.
- Back Up Exit Strategy– Every seller wants to start high on their listing price. However what do you do should you not get enough traction on the initial offering? Having a pricing strategy planned ahead of time will show your sellers that you are always thinking ahead. A listing that sits too long on the market without any repositioning, most of the time leads to a longer market time and lower offer price than being aggressive up front.
- Extreme Customer Service– Being a good Realtor is about more than negotiating a contract and getting signatures. You should always provide ROCKSTAR service such as lining up movers, helping with utility shut off/turn on, timely updates and communication, staging advice, feedback from each showings, and tracking online analytics to name a few.
People don’t need Realtors, but they overwhelmingly prefer to use them. All they want, is for us to earn our commission.
I have found it much easier to go on listing presentations positioning yourself as a marketer vs. a traditional agent. Imagine talking marketing to all your sellers. Imagine establishing yourself as an authority by talking more like a marketer and less like a traditional Realtor.
Then imagine if you gave them a choice between two different marketing packages. Now you can let them decide which option they want and all of the “selling” goes out the window!
It’s a win win process!
We started doing this and it has helped accomplish two things.
- First, is that it shows that you are more than the status quo. You have a lot more to offer than the typical agent. It also shows that you are a marketer. Sellers like marketers.
- When you offer options to a seller, it takes the salesmanship out of it. Now you are able to offer the “6% Package” for 5.5% perhaps? Doing this definitely helps you avoid the “hey, will you take this listing for less than 5%” conversation.
I hope this article helped you see the importance of becoming more familiar with additional listing marketing activities. Adapting more “marketing services” into your listing process can be used to set yourself apart from the competition. It can also be used to increase your rates and provide a level of service that is expected from ALL listing agents.
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How Do You Find More Clients?
Creating a better system to service your listings is one of the things you can be doing to increase referral business, but it’s not everything.
Would you be interested in learning more about adapting a several marketing systems that work simultaneously in your business to create multiple lead sources? Do you want to run a business instead of being run by one? Do you hate cold calling or cold prospecting?
If you answered yes to any of the above questions, you may want to check this out…