Real Estate Strategy Guide 2012

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Real Estate Strategy Guide 2012
How to Grow Your Business 10X
Are You Looking for Skills to Survive or Thrive? Here's a Plan to OWN Your Market. Be the Leader!

There’s no question real estate is undergoing a seismic shift. Realtor® ranks are steadily declining. Sales remain low despite historically low interest rates and drastically reduced prices in many market areas. Foreclosures remain high in many states and there is talk about how to survive in real estate. Conversations at the Facebook water cooler find agents comparing notes about free tools they can use to generate new leads. Social media Pied Pipers dispense advice about marketing and nobody challenges them about their own success.
“A” Bloggers declaration, “I had a million visitors to my blog and 7,000 leads last year,” is met with cheers and awe, but nobody asks the most important question:
“How many houses did you sell?” or “How much money did you make?”
Often, answers to those questions are so low they are shocking. Most people are “polite” and don’t ask the important question. Sometimes bloggers in take those claims and shoot them to smithereens with MLS stats. That’s the stuff that brews blog wars, a silly way to spend time.

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Real Estate Strategy Guide 2012

  1. 1. 2|Page Real Estate Strategy Guide 2012 How to Grow Your Business 10X Are You Looking for Skills to Survive or Thrive? Heres a Plan to OWN Your Market. Be the Leader!Hi, Fran Thorsen here.I started to write a blog post and realized this report contains enough for a series of blog posts, but Ireally like it best as a single document, so I prepared this is a “special report.” “The time to get the map is before you enter the woods.” – Brendon Burchard, New York Times bestselling author of “The Millionaire Messenger” and founder of Experts Academy.There’s no question real estate is undergoing a seismic shift. Realtor® ranks are steadily declining. Salesremain low despite historically low interest rates and drastically reduced prices in many market areas.Foreclosures remain high in many states and there is talk about how to survive in real estate.Conversations at the Facebook water cooler find agents comparing notes about free tools they can useto generate new leads. Social media Pied Pipers dispense advice about marketing and nobodychallenges them about their own success.“A” Bloggers declaration, “I had a million visitors to my blog and 7,000 leads last year,” is met withcheers and awe, but nobody asks the most important question:“How many houses did you sell?” or “How much money did you make?”Often, answers to those questions are so low they are shocking. Most people are “polite” and don’t askthe important question. Sometimes bloggers in take those claims and shoot them to smithereens withMLS stats. That’s the stuff that brews blog wars, a silly way to spend time.Real estate bloggers spend a lot of time talking to each other online. I don’t see many “A” bloggers inthe real estate arena modeling anything that will help anyone 10X their business in 2012.On the other hand real estate agents with great strategies, personal discipline, and good work habitsare selling houses, lots of houses.Copyright © 2012 All Frances Flynn Thorsen Cross Channel Marketing Consultants
  2. 2. 3|PageIt’s a sad fact that some of the best real estate marketers are not the best Realtors®. When I think ofgreat Realtors® I think in terms of one-on-one people skills, knowledge about contract law, and superbnegotiation skills. If you want to know the truth, some of the best “marketers” in the business are realestate agents I would not call to show me a dog house. I might ask them for advice about a WordPresswidget, but I would never ask for their advice about financing, or crafting a negotiation strategy, orwriting an offer on a property.When it comes right down to it, real estate is a business like many other businesses.Some real estate agents are entrepreneurs, most are not.Outside industry experts are watchable, interesting.There is a movement in 2012 among non real estate entrepreneurs who want to explode their businesstenfold in 2012. The founder of this 10X movement is a young, highly successful entrepreneur, BrendonBurchard. In the space of a few short years he saw his business go from nothing to $100,000 with simplebootstrapping and three key strategies.Next, he applied three more key strategies to take his business from $100,000 to $1 million. Last year hemade an incredible breakthrough with a New York Times best-selling book and a $4 million plus productlaunch to bring his income to $10 million. He points to three strategies that helped him make thatquantum leap (we’ll get to that shortly).Brendon wears a crown he crafted for himself as leader of the Expert Industry. At this point, nobody isarguing with him. For the first time in years the world’s leading Internet marketers are not sharing theirlaunch results. People don’t talk about results. Sales are down across the board. They call Brendon forhelp. Amazon calls Brendon for help with strategies and marketing.(There is a link to a video in the photo, but the link may no longer be live when you read this. If there is anopportunity to opt in for more information, my suggestion is, “Go for it.” I have no financial attachmentto any leads that enter that sales funnel, in case you are interested.)Copyright © 2012 All Frances Flynn Thorsen Cross Channel Marketing Consultants
  3. 3. 4|PageBrendon Burchard is sharing his plan to increase business 10X with a $10,000-a-ticket-training-extravaganza in New York City in April. He is a generous promoter, offering lots of content with videosand blueprints.How can we translate Brendon’s 10X strategies for massive success into a planfor real estate agents?I’ve distilled the essence of Brendon’s 10X formula with an accent on real estate. My report looks at realestate from about 30,000 feet and I come in for a landing with a few ideas at several of those strategymarkers. Brendon’s blueprint is general. The real estate thoughts and additions here are mine. Iencourage you to listen to his videos, read his books, and attend his 10XNYC event if you can. Yes, I thinkthe $10,000 will be well spent.Brendon says his success happened in three phases, and he points to key strategies in each phase. Let’stake a look at the phases and key strategies that worked for him and talk about how we can apply thosestrategies in real estate. Use this strategy guide as an outline and workbook to brainstorm with yourteam, your partners, and your clients and customers.What do you have to do to move the needle in your business and amplify yourrevenues? Let’s imagine your business is starting at Phase 1 ($0 - $100,000/year) Strategy #1 Content and Customer Development PlanningThe content you publish on your website, your blogs, videos, and special reports has to reach a standardof excellence that makes a difference in people’s lives. Be honest with yourself. Does your content reachthis standard? Does your content make a difference in people’s lives?If YES, What type of information CAN you deliver to your market that helps people change their lives?If NO, What type of information CAN you deliver to your market that helps people change their lives?Copyright © 2012 All Frances Flynn Thorsen Cross Channel Marketing Consultants
  4. 4. 5|Page  What does a homebuyer in today’s market have to do to move from Point A to Point B to reach his goal?  What does a seller have to do to maximize his revenue?  What is your content plan?  Do you have an editorial plan for your website and blog? “Think in terms of seasonality,” says Brendon. “What are you doing in three months, six months, and a year from now? ‘What content does my audience need?’ “Assess your knowledge, skills, and savvy.  How can you scale your gifts, craft a message, and deliver that content to your market?  Think about your customer development life cycle? Do your buyers become your sellers after a few years? How many residential home buyers in your business become real estate investors and turn to you for help?  What are the icons, titans, gurus in real estate doing? What can you do to turn your customers into an army of fanatic fans and followers? o EXAMPLE 1 - o EXAMPLE 2 –Copyright © 2012 All Frances Flynn Thorsen Cross Channel Marketing Consultants
  5. 5. 6|Page Strategy #2 Integrated Product Suites “This underleveraged strategy is responsible for helping me take small ideas and promotions into the multi-million-dollar stratosphere,” says Brendon. His challenge: “What product suite should you roll out in the next 12 months to 10X your business?”Apple is the best example of a company with an integrated product line. The company started with thecomputer, introduced the iPod, the iPhone, iPad. Apple products talk to each other very well. Customerswant more Apple products and they want them integrated.How do you integrate your real estate services?How do you leverage agent savvy in your office?  Real estate listing services for sellers  Real estate fee-based consultative service  Buyer brokerage  HUD Homes specialists  Certified staging professionals  EcoBroker® on staff with “green” savvy  REO specialty services  Senior specialists  Bilingual services  Luxury homes marketing  First-time homebuyer specialists  Mortgage financing  Title services  Referrals  ___________________________  ___________________________  ___________________________  ____________________________Integrated product funnels are not marketing funnels, not sales funnels.Copyright © 2012 All Frances Flynn Thorsen Cross Channel Marketing Consultants
  6. 6. 7|Page Strategy #3 High Level Customer Services “It is vital to cultivate your best customers and have offerings that wow them …,” says Brendon.What is your highest tier price point and what corresponding services do youdeliver to your customers at that level?Join real estate masterminds and non-real estate masterminds and group coaching programs and learnabout messaging, what to say, when to say it, how to say it. List your masterminds and coaching groupshere. Make a plan to add more to the list.1.2.3.4,5,Your brand and your messaging leads to market positioning. Are you the BEST at what you do in yourmarket? If not, why not? If you are not the leader in your market, who is? What does your market leaderoffer that you do not offer?Craft a “campaign” mindset when you craft messaging and sequential delivery. Design an outreachsystem with planned message delivery. Test your campaigns and analyze results. Go with the systemsthat deliver the best results. How many campaigns are you running right now? List them here. (Ideally,you should need another page.)Copyright © 2012 All Frances Flynn Thorsen Cross Channel Marketing Consultants
  7. 7. 8|Page Take your business to the next level Phase2 ($100,000 - $1 million/year) Strategy #4 Market Leadership Positioning Declare a mantel of market leadership. Craft a campaign with leadership messaging and facts andfigures and stories and anecdotes to back up your claim.Don’t alienate others in your marketplace. Work with a great copywriter to help you craft yourmessage. Strategy #5 Promotional Partnership Value CreationFirst you need to establish your value first as a market leader. Then you position yourself as someonewho is promotable.Who are your strategic partners in your community? List them here.  Lenders      Title Companies  Insurance Companies  Chamber of Commerce        Create value for your promotional partners. When you create strategic relationships in your market, you will not believe what will happen to your brand. Add strategic levels of value.Copyright © 2012 All Frances Flynn Thorsen Cross Channel Marketing Consultants
  8. 8. 9|Page Strategy #6 Multi Channel Prospect AcquisitionLearn ways to get people into your sales funnel. What percentage of your business comes at differententry points? List those numbers next to the entry points and add entry points that do not appear here.Once you have established the major entry points, list the channels you are using to draw prospects ateach entry point.  Past clients o Channels – “I wait until they call me.” o Client follow-up system (print) o Client follow-up system (email) o Client follow-up system (gift) o Client Follow-up system (cross channel)  Referrals o Passive or Active campaign? Describe ...  Newsletter o Print o Web based o Email o Cross channel  Open houses o o o  Website leads o o o o o  Blog o o o  Radio o oCopyright © 2012 All Frances Flynn Thorsen Cross Channel Marketing Consultants
  9. 9. 10 | P a g e  Newspaper ads o o  Homes magazine ads o o  Social media o LinkedIn o Facebook o Twitter o FourSquare o Trulia o Zillow o Google Places o Yahoo! o Yelp      What are the needle movers in your market? You are probably doing 50 thingsyou dont need to be doing ... you are distracted. Only do things that move theneedle! Nothing else matters.Automated Evergreen Marketing is another strategy Brendon points to as a major factor in his success.Create marketing sequences you for your brand, and messaging you can set up across several channels.How many evergreen channels are you using today?  Evergreen content strategy on blog  Automated Webinars  Launch design blogs for niche markets  Email autoresponders  Automatic, interactive SMS text  Direct-to-voicemail technologyCopyright © 2012 All Frances Flynn Thorsen Cross Channel Marketing Consultants
  10. 10. 11 | P a g e Ready for a Quantum Leap? Phase 3 ($1 million - $10 million) Strategy #7 Recurring Revenue Training ModelsSet up training models that self perpetuate. I see two real estate applications here:  Broker training for agents  Agents using “training” and educational outreach in their marketing plans.Channels: Online education tools, Webinars, teleconferences, in person classes, workshops and otheronline and in-person events. Strategy #8 Movement Marketing CampaignsPick an industry or a topic area where you would like to see change and incite people to take a newdirection. Read about movements and community organizing. Construct your marketing, sequence, andbranding that leads to a movement. (Womens Suffrage and Civil Rights are both great examples on anational scale.) Become a leader. Lead a movement to change the world. What creates and incites a movement? Iknow this sounds like a very heady suggestion, but think about it. Where can you make a difference inyour local market with a “movement”?  Work with nonprofits and help distressed homeowners KEEP their homes vs. prospecting for a short sale?  Raise the bar in real estate?  Shine a light on ethics in your market?  Promote cooperative, permission based marketing of your listings and encourage others to do the same?Copyright © 2012 All Frances Flynn Thorsen Cross Channel Marketing Consultants
  11. 11. 12 | P a g e Strategy #9 Category Ownership InitiativesHow do you become the senior authority in your real estate space? The industry and the community have to agree with you. Your promotional partners have to agree withyou before you can claim the leadership mantel.How can you own the category in whatever niche you are working?How will you own it this year?Expert positioning strategies are the fruit of finely honed strategic thinking.What are the innovations that need to happen in your market? Identify them and make them happen! ___________________ ResourcesI’d be happy to talk to you if you want to go deeper about these strategies with me and put any of theseideas to work in your business. I am happy to set up a consultation where we can explore theopportunity to work together and grow your business. You can sign up for a consultation here or justsend me an email francesthorsen@gmail.com .---------------------------------------------------------------------------------------------------------------------How is technology impacting your business? Are you on the cutting edge? Or are you stuck in the past?RealtySocialQ Assessment (FREE) provides an objective review of the current state of your technologyrelative to your business. (I wrote this assessment, BTW.) ___________________Please send me your feedback about this report … I would love to hear from you. Good luck!Frances Flynn Thorsenfrancesthorsen@gmail.comCopyright © 2012 All Frances Flynn Thorsen Cross Channel Marketing Consultants

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