Archive for August, 2007
Filed Under ( Marketing) by admin on August-25-2007
 Web Lead Generation Made Easy!
At the recently concluded STAR POWER Annual Conference in Phoenix, top-producing real estate professionals spent four days absorbing scores of business-building tips and strategies. One of the hottest topics burning up the desert involved how to make the most of technology and the Internet when growing your business in today’s prevailing changing market conditions.
STAR POWER Star Sam Miller of Mt. Vernon, Ohio, participated on two such panels (“Cultivating Internet Business” and “Web-Site Effectiveness”). Sam works in a county with only 50,000 people, yet he still managed to close 380 transactions in his peak year. He’s an efficiency expert, and while he recognizes real estate is a “people” business, he prefers to invest in technology, keeping his team small in size (6), with only two buyers’ agents.
“It’s cheaper to invest in technology and systems than people,” Sam says. “Technology requires less overhead, it’s less expensive, it doesn’t take time off, and it takes up less space.” Sam, whose entire office is 600 square feet, says that he knows individual agents with offices the same size – or bigger.
Sam makes the most of his investments too. Last year, he credits at least 45 transactions to Web leads generated from his various stealth sites, which offer great value to buyers and sellers and tend to be less intimidating for them because they don’t appear to be affiliated with any real estate agents. He enlists the services of Real Pro Systems to design and maintain his sites, which have provided him with hundreds of leads in the past year.
Stealth sites offer to send interested people information in a non-threatening way, so consumers will often submit data that can immediately be entered into a database. Based upon certain criteria, the agent then adds the client to a drip e-mail campaign, which can extend for a year or more. That’s important because studies suggest that people beginning their real estate search process online may take up to four years to buy. An automated drip e-mail campaign ensures steady follow-up and complements periodic phone calls placed by the agent.
Here is an example of what buyers are sent via a drip e-mail campaign in addition to relevant new listings as they become available:
- Day 1: Welcome message
- Day 4: Intro to e-mails sent with properties that match client’s search criteria
- Day 10: Report covering recent home-siding issues in the news
- Day 16: “May I provide any additional help in your home search?”
- Day 22: “Did you know that many homes built before 1978 have lead paint?”
- Day 28: Tidbits on securing a mortgage loan
- Day 34: A few ways to address home-plumbing issues
- Day 46: Article about home heating and issues to note during your home search
- Day 52: “Are you receiving enough properties from us?” Modify search criteria
- Day 58: “Do you know about the new artificial stucco being used on newer homes?”
- Day 64: “Did you know my services as a buyers’ agent are free to you?”
- Day 70: Article that discusses foam insulation
- Day 76: Buyer representation and benefits of working with Sam Miller
In addition to the drip e-mail campaign, Sam also programmed his Palm phone to receive reminders when homes matching someone’s search criteria become available. This way he can call the person to let them know they’ll be receiving an e-mail of a brand-new listing that just hit the market – so they’ll be the first to know of its availability.
Sam also credits many of his Web leads to the “stickiness” of his sites. He managed to increase the average amount of time people spend on his sites by offering value to visitors, including a virtual tour (Visual Tours) for every listing. Each listing also has its own e-mail address that people can click to receive more information, so Sam immediately knows which property the person is interested in – a big time-saver.
Because of the stickiness factor, another of Sam’s ideas has paid dividends. On his site www.sammiller.com, he has two links: “I want to list my home” and “I want to buy a home.” People become comfortable browsing his site and are more inclined to enter their names, phone numbers, addresses, and e-mail addresses (in addition to more non-required data they often choose to disclose). Sam says that he receives an average of two requests a week to make listing presentations this way. His other site, www.SamMiller.net, keeps people engaged with podcasts among other features.
To hear what Sam had to say in Phoenix, along with the complete unedited content from dozens of other STAR POWER Annual Conference sessions, add Best of Phoenix to your real estate library – you’ll receive more than 30 CDs from the event, and can also acquire the official Conference workbook.
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Filed Under ( Marketing) by admin on August-25-2007
How to Keep MORE Clients…for Life!
by Mark Rosenberger, CSP
According to several studies, the number one reason clients go away is an "attitude of neglect or indifference."
Stated differently, long term client loyalty is eroded by small acts which in one way or another communicate a spirit of disregard.
As a Real Estate professional creating value and offering a competitive advantage are important ingredients in the "keeping clients for life" game, but a vast majority (over 60%) of malcontents state someone’s attitude as the reason for changing agents and companies. And I can assure you, it wasn’t because folks had a positive, can-do attitude!
I received a rude reminder of this important stat last week when I was on an annual "Dude Trip" outing with my 12 year old son. We decided to play golf till we dropped for two days which included one night’s lodging and dinner at our chosen destination.
I must say, we had a blast together. We shot 36 holes the first day and retired to dinner, swam in a hot natural springs pool (boy did my body need that after 36 holes), relived the glory moments of the day and finally had a restful nights sleep.
Day two started with breakfast and more golf. We were having such a magical time together, I decided to look into staying over for one additional evening—the natural springs hot pool was calling my name. I called the reservation center to inquire on the process and rates. The response was priceless…or should I say costly.
Please stop for a moment and get a clear picture of the setting before I offer the priceless response: I’m having the time of my life playing golf with my son—what could be better? We’re both playing better than we’ve ever played (just ask us!).
I feel as if I’m building HUGE memories with my son as we discuss everything under the sun between great golf shots. The resort we’re at is not packed during the summer and could certainly use the additional revenue and positive word of mouth exposure. I’m a willing customer who wants to spend more of my hard earned money with their property. The call is made and the priceless response I earn is: "Can you call back in 5 minutes—we’re having a meeting." Not really a question, more of a command.
I held the phone away from my ear in disbelief. Perhaps I’m hypersensitive because I spend every week of the year working with companies on leveraging opportunities to double repeat and referral business. Possibly I was stunned that in a time of tough economic challenges for many companies, someone would be so clueless at such a critical moment.
One thing I know for sure: the number one reason customers don’t come back is "an attitude of neglect or indifference." We didn’t stay a second night…at that location.
I’m tempted to send the management a "Value of a Customer" study. It details in specific dollar terms of how much revenue walked out the door with that response. Sending my article, "Attitude is Everything" might help but then again, who knows, I don’t think they’d understand.
All I know is that one more time, this important statistic has been verified: the number one reason customers go to the competition is a perceived attitude of neglect or indifference.
What can we learn from these stats and this experience?
1. Loyalty is hard to earn and easy to lose.
2. We need to be ever aware of our attitudes when dealing with clients. Sure, you feel like the plate spinner with 50,000 things going on at once, but your client doesn’t care.
3. Tonality over the phone sends a message that over-rides the words. I recorded the receptionist at twenty companies offering their initial greetings. The tape is played in many programs as I invite participants to score their impression: WOW! or Ho-Hum. Out of twenty calls, only one response WOW!’s the group. The words are right in the other 19 greetings, but the attitudes and tonality seem to say: "This would be a pretty great place to work if it weren’t for the pesky customers."; or "Can you call back in 5 minutes—we’re having a meeting."
4. Your partners can make or break you. Your clients will for opinions based on the support team you use to move their deal through the process. Pick “Loyalty minded” people.
I see it’s time for golf so off I go. Perhaps today I’ll find companies who are aware of this important stat and will use it to their advantage.
Go WOW! your clients and your team!
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A Fun Story Worth Sharing….
Editor: Moving a real estate transaction to completion can have its challenges. Sometimes it takes creativity and persistence to accomplish the goal. Here’s one such example that will add a chuckle to your day—and just might be a deal saver in the future. We’re not clear on the original source…
Original Story:
“As most of you receiving this know, New Orleans residents are challenged
often with the task of tracing home titles back potentially hundreds of
years. With a community rich with history stretching back over two
centuries, houses have been passed along through generations of family,
making it quite difficult to establish owner ship.
Here’s a great letter an attorney wrote to the FHA on behalf of a client
that I thought was absolutely priceless! This is one lawyer you gotta
love!…..It’s too good not to share!
A New Orleans lawyer sought an FHA loan for a client. He was told the
loan would be granted, if he could prove satisfactory title to a parcel
of property being offered as collateral. The title to the property dated
back to 1803, which took the lawyer three months to track down.
After sending the information to the FHA, he received the following
reply:
(Actual letter):
"Upon review of your letter adjoining your client’s
loan application, we note that the request is supported by an Abstract
of Title. While we compliment the able manner in which you have prepared
and presented the application, we must point out that you have only
cleared title to the proposed collateral property back to 1803. Before
final approval can be accorded, it will be necessary to clear the title
back to its origin."
Annoyed, the lawyer responded as follows (actual letter):
"Your letter regarding title in Case No. 189156 has been received. I
note that you wish to have title extended further than the 194 years
covered by the present application.
"I was unaware that any educated person in this country, particularly
those working in the property area, would not know that Louisiana was
purchased, by the U.S., from France in 1803, the year of origin
identified in our application.
"For the edification of uninformed FHA bureaucrats, the title to the
land prior to U.S. ownership was obtained from France, which had
acquired it by Right of Conquest from Spain. The land came into the
possession of Spain by Right of Discovery made in the year 1492 by a sea
captain named Christopher Columbus, who had been granted the privilege
of seeking a new route to India by the Spanish monarch, Isabella.
"The good queen, Isabella, being a pious woman and almost as careful
about titles as the FHA, took the precaution of securing the blessing of
the Pope before she sold her jewels to finance Columbus’ expedition.
"Now the Pope, as I’m sure you may know, is the emissary of Jesus
Christ, the Son of God, and God, it is commonly accepted, created this
world. Therefore, I believe it is safe to presume that God also made
that part of the world called Louisiana.
"God, therefore, would be the owner of origin and His origins date back,
to before the beginning of time, the world as we know it AND the FHA.
"I hope you find God’s original claim to be satisfactory. Now, may we
have our damn loan?"
The loan was approved.
Story Sponsored by:
eCommission provides commission advance services to Realtors® nationwide.
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Filed Under ( Technology) by admin on August-25-2007
GE Security’s ActiveKEY
GE Security Inc., a wholly-owned indirect subsidiary of the General Electric Company (NYSE: GE), is a leading supplier of security and life safety technologies, with operations in more than 35 countries.
GE’s Security business offers one of the industry’s broadest product portfolios, covering explosives and narcotics detection, intrusion and access control, video surveillance, key management, and fire detection. The products are used to help protect people and property across a wide range of industries, including aviation, law enforcement, banking, education, healthcare, mass transit, real estate and retail.
GE Security designs and manufactures key management, access control and integrated management solutions to meet the needs of those in the real estate industry. Agents, brokers and real estate boards and associations alike have come to depend on GE Security’s line of innovative key control products to become more efficient and productive. These products include the complete Risco and Supra lines of key control solutions purpose-built to meet the challenges of virtually any real estate professional.
GE Security’s newest addition to its family of industry-leading real estate products is ActiveKEY, the first such product that offers near real-time showing notification to listing agents and eliminates the need for “cradling” to receive daily updates and user authentication.
With GE’s ActiveKEY, real estate professionals will be able to choose from the most complete line of state-of-the-art key control devices to help make selling easier.
For more information on GE Security’s leading line of real estate products, please visit gesecurity.com/supraekey GE-Security, making the world safer.
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