Ri403 Marketing Rathbun

Welcome to…
RI 403: Personal Promotion

2007 NAR Profile Home Buyers and Sellers

What are they looking for?
93% looked for Homes
21% Area Information
5% Real Estate Company
3% Real Estate Agent

2007 Profile of Buyers and Sellers

How the Buyer found the house

Why Clients Chose Their Agent
You should know the client / customer’s expectations as well as their needs*

Generation
170% Growth in 35-45 year olds in past year
Average age of a user is 32
Majority are College Graduates
Largest increase of users are those over 55 in the past year
175 million active users
Average users have 120 friends
18 million update daily
Over 3 Billion minutes spent on Facebook daily
Source: http://www.facebook.com/press/info.php?statistics

Section One
Learning Objectives
Learn the differences between Business and Promotion expenses
Learn how and where to invest your money to get the optimal return on investment
Projecting your future income
Identify additional sources of business

Exercise One
Defining Business
and Promotional Expenses

Developing a Budget
Business Expense: Those Expenses incurred as a “cost of Doing business.”
Promotional Expense: Income producing expenses incurred in an attempt to generate leads and attract business.
Page 1
Page 1

Business vs Promotional Expense
_P_ Development Brochure
_B_ Add Fax
_P_ Mailings Development
_P/B_ Postage
_P_ Newsletter
_B_ Digital Camera
_P_ Newspaper Ad*
_P/B Printing
_B_ Outside Assistance
_P_ Web page
_B_ Convergence Device
_P_ Internet Service
_B_ Cell Phone
_B_ Computer
15% to 20% of your Gross Income should be invested into Promotion and Marketing*
Page 1 and 2
Page 1 and 2

Budget Framework
Rocks
Vacation, Private Schools
Debt
Insurance, Utility, Loans
Personal
Entertainment, Groceries
Tax Payment
Estimates / Quarterly Payment
Charitable Contributions
Tithes, donations, etc…
Business Promotion
Promote Yourself
Business Expenses
Dues, MLS, Equipment
Savings
401, Investments, Basic
Monthly Salary
Pages 3-7
Pages 3 and 4

Marketing Requires
Adequate Funding
Don’t try to outspend “mega producers”
Start with people you know, who know you; your neighbors, and your sphere of influence. Here are a couple of easy and inexpensive ideas that work.

Section Two
Learning Objectives
Upon completion of this section
Participants will be able to structure a personal promotion and marketing plan
Develop a personal budget and personal business goals
Identify market factors effecting their markets

What is Personal Promotion
It’s the process used to establish yourself as “the” person to contact when a consumer wants straight forward, results oriented real estate services.
Page 8

What is Marketing?
Marketing is the sum total of all that is done to promote the sale of a service or product

Immediate Business
1. Regular and Consistent Contact
2. Consistent Format
3. Periodic Personal Contact
4. Follow-up and Ask for referrals
5. Generate Clients from Listings
(not “Use your sellers”)
Page 9
Page 9

Prospecting examples:
Open House
Door Knocking
Telemarketing (Cold Calls)
Client Parties
Networking events
Social Functions
Community Events
Seminars
Booths at events
Teaching and Speaking opportunities
Any more?
Page 8

Will Buyers and Sellers Settle for the Cheapest Solution?
In the absence of perceived benefits… Cheaper is the most likely alternative
Be prepared to demonstrate the benefits buyers and sellers will receive by working with you.

The benefits of your services must equal or outweigh the cost of
your services
Yes
NO
YOURFEE
Lots of benefits
Not enough benefits
Cost

What’s your USP?
(Unique Selling Position)
What makes you different?
How would I benefit if I chose your services?
You better have answers when the questions begin!

You Must Avoid Appearing Like Everyone Else
What Makes You Different?
How do you demonstrate your
Unique Selling Position?
Page 10

“What we hear and see over a prolonged period of time we tend to believe is true”
Spatial Repetition helps embed your
message in the heads of your target
audience and creates TOMA (Top Of Mind Awareness).

Your name should become the name buyers and sellers think of when it comes to Real Estate
TOMATop Of the Mind Awareness

Slogans from the Past
Plop, plop, fizz, fizz oh…
How do you spell relief?
When it absolutely positively has to be there overnight…
It takes a licking but keeps on ticking
The Un-Cola.

Who Are They?
Page 10

Express Your Uniqueness
Create a slogan
Incorporate your name with your slogan
This ties your name visually with what makes you unique
It will give you a position in the customer’s mind
Page 12

Where as some clients / consumers prefer seeing a photograph of the agent, it is not always necessary and sometimes can distract from the actual message.

Tools for Branding
1. Logo Design
www.eLance.com
www.HobbsHerder.com
www.gimp.org
www.Picnik.com
2. Slogan
3. Your Real Estate Image
4. Color and Style
5. Personal Appearance
6. Stay Consistent
Branding presents consumers with a consistent vision or image*
Page 12

Self Evaluation
Who is the your specific audience?
What image do you want to project?
What Does your Brand say?
Are you accomplishing your goal?

Three Secrets of Success
The first secret is to anticipate your consumers needs… and deliver just a little bit more than they expected from you
The second secret is to know your market and be ready to provide solutions when problems arise.

Three Secrets of Success
The Third Secret: Accept that we have entered the age of the never satisfied consumer

Some Examples of Slogans
The Neighborhood Specialist
The Condo King
The Affordable Housing Specialist
Second Home Specialist
Investment Property Specialist
First Time Buyer’s Expert
Lots Exclusively
For Personalized Service

Section Three
Learning Objectives
Upon completion of this section
Participants will be able to describe and select their niche market.

There’s a Market for Everyone
Whether you are associated with a full service percentage based brokerage; an Ala Carte provider, a Discount Brokerage or a real estate consultant there is an abundance of ready and willing buyers and sellers seeking the type of services you provide.

The Best Way to get Started is to:
Decide what you like to do best
Decide what you’re best qualified to do
Decide which geographic area to work
Find out what people want so you can better serve their needs

To get what you want, your customers must get the feeling:
You really like what you do
You do what you do efficiently and effectively
You care about them
You are providing them with quality services

Marketing Involves Three Major Steps
Informing: Explaining what services you have to offer
Persuading: Demonstrating the benefits of your services or products
Reminding: Using spatial repetition to tell them over and over again

Be Creative!
Your Turn: Name some others

List Your Creative Ideas
________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Niche Marketing
What is a Niche Market
Specific Group versus General Public*
Advantages
Easier to make personal contact
Database management
Focus on marketing dollar
Disadvantages
Smaller pool of prospects*
May alienate some consumers (luxury homes)
Page 13
Page 13

Questions About Your Niche
What do I know about my niche?
What do we have in common?
Am I comfortable with them?
Where can I find them
How do I reach them?
What do they need?
How can I help them, where other’s can’t?
If I select a niche can I change it?*
Choosing a niche is not like choosing a geographic farm*
Page 14

Mix Things up a Little
A combination of direct mail and e-mail is good for niche marketing because it delivers timely and useful information to specific markets
Postcards are effective and inexpensive direct mail pieces. They can be used in between major mailings

Begin with Points of Difference
Establish Your Credibility
Deliver a Pre-Listing Package
A personal letter from you
Testimonial letters from Raving Fans
Production figures
Number of families helped
Feature your Performance Statistics

To make sure the competition doesn’t win over your clients; provide them with an Award Winning Experience

Let’s look at some good vs. bad marketing ideas

How Important is Photography?

Personal Brochures
A recent picture
A head and shoulder shot with your eyes prominent
Associations, education, accomplishments
Elected positions, awards & honors, and family background
More importantly, don’t forget your Website and your E-mail address
Page 16

Use Color
Color attracts 50% more attention than black and white.
Black and white attracts more attention than not mailing at all
If the content is consistently superior they will look forward to receiving your mailers.

Neighborhood Expert
By delivering quality information, you become their real estate expert
Headlines draw attention and cause prospects to read your e-newsletter
You only have 3 to 5 seconds to capture the readers attention
Keep your opening short and interesting.

Introduce yourself as the Neighborhood Real Estate “Expert”
Palmerston North Subdivision
2008 Marketing Update
Last year 36 homes sold for an average of $249,000 at 98% of the asking price. The average square footage was 2,590 and the average days on the market were 110. Presently there are 2 homes for sale and 1 under contract.

Introduce your Services to your Sphere of Influence
Valuable Coupon
ONE FREE HOUR OF REAL ESTATE CONSULTATION
Coupon is Fully Transferable Valid until 12-31-2009
$125.00
Value

Technology
Get out of your comfort zonetry something new
Today’s buyers and sellers are 35, today’s agent is 55. Our buyers and sellers grew up with technology and expect their agent to be tech-savvy.
Page 18

What is Technology’s Role
It’s a tool to provide better service
It’s a Lead Generator
Advertisement Necessity
We only use 10% of our available software on our PCs

The Human Factor
Don’t assume they prefer e-mail
Get a face to face meeting as soon as possible
Meet with Client when getting Documents Signed
Remember technology is a tool and not a replacement for YOU!
Be Patient
Use the PHONE

Who is On-Line?
NAR Statistics (2006) On-Line Consumers
38% are between 25-34 years of age
67% are Married
17% are Single Females
8% are Single Males
Median income is $70,700 per year

What are they looking for?
93% looked for Homes
21% Area Information
5% Real Estate Company
3% Real Estate Agent
Webpages should be your electronic brochures and relocation packet*
Webpages should not contain a log of movement…*

On-Line Personalities
Easily Dazzled
Information Hungry
Usually between 23 and 44 years old
Want Constant Interaction
Typically not very loyal
Easy to get information to
Want Tech Savvy Agent

Permission Selling
Starting now begin collecting e-mail addresses and permission to use them from everyone you meet
A good way to collect e-mail addresses is through your web site. Have an opt in feature.
Ask prospects to allow you to send them monthly articles of interest.

List Building
Go to:
http://www.constantcontact.com
Browse the selections and tutorials to acquaint yourself with some innovative ideas on how to use mass e-mail newsletters and bulletins.

NAR Opinion of CAN SPAM
E-mail is to be used for:
Responses to Inquires
Contact Clients and firms involved in a transaction
Remain in contact with former client
Promote Property Listings

Virginia Required Internet Rules (18VAC135-20-190)
Agents name and licensed status must be disclosed on all solicitations or business related pages and e-mails.
Brokerage Name, address and phone number must appear on all webpages in the first viewable section.
Both must disclose all the locations in which they hold a license.

Internet Rules I
All internet advertisement is under the direct supervision of the Broker.
Instant messages are exempt so long as previous disclosures have been made.
Chat Rooms – Disclosure must be made in ever instant that business services, recommendations or solicitations is to be made.

Internet Rules II
Banner Ads – Disclosure link must be disclosed on the banner itself, can be a hyper-link.
Cannot show listings “For Sale” if they are under contract or sold.
NAR Rule – “REALTOR” cannot be used with any adjectives

Webpage Example: Good

Brand new look...Same great information
Correct and up-to-date information is your most important weapon when you sell your home. That’s why Brooke Miller has updated the look of her award winning web site:
www.BrookeMillerHomes.com.
It has a great new look but it is still filled with the information you need.
Visit the “Communities” tab for her latest Neighborhood Market Reports.
Visit the “Properties” tab for recently listed and recently sold properties in your neighborhood.
Quickly and easily order one of Brooke’s Special Reports.
Easily contact Brooke via e-mail.
And so much more.

Brooke Miller Real Estate, LLC

Webpage Example: Not So Good
Even if you’re proficient with the computer, you should consider hiring someone is to do your webpage*

Working it Out
Refer to budget and make adjustments
Don’t be a “lone ranger”
Get help, as needed:
Other agents in your office
Virtual Assistants
Industry Blogs
Past Clients
Others?
Make sure you have current and accurate information and data*
Page 25

Social media is people talking
with other people on the internet!

Swanepoel Reports
“Failing to make a decision (to change) is simply not an option – the market will make one for you.”
(2008Swanepoel Report)
“Generation X and Y are growing up with a poor perception of the real estate industry.”
“They believe they can and should fix it.”
(2008 Swanepoel Report)
www.TheAgentTrainer.com

The What and Why of Real Estate 2.0

Rule Number One
Send e-mail only to those who have “opted-in”

Marketing is a Conversation

The What and Why of Real Estate 2.0
Swanepoel: “87% of Brokers feel that servicing smarter and more informed consumers as their largest concern”
Marc Davidson, 1000 Watt Consulting: “How long can a trillion dollar industry sustain disregard for the iPOD, MySpace, Facebook, YouTube, Starbucks, text messaging and brand conscious consumers?”

Real Estate 2.0 Vernacular
“Friends”
IM or Instant Messenger
Links
Lurkers
Mashups
Permalinks
Trackbacks
Podcasts
RSS
Blogs
Social Media
Wiki
Widget
Aggregation
Avatars
Posts
Comments
Subscribing
Tags

Must Read Sites
www.AgentGenius.com
www.Inman.com
www.VARBuzz.com
http://sethgodin.typepad.com
http://narblog1.realtor.org
Your Local Newspaper
You Local Association's Blog

www.LowesRealtorBenefits.com

www.postlets.com

Video
With video, you can make your
“first impression” perfect every time!

FlipVideo

Video – Where and What
Create videos for multiple uses
Corporate welcome message
Your clients recommending you
Product Demo
Listings
Communities
Niches

Video – Where and What
Redistribute videos in multiple venues
Website
Yours and others
Newsletters
E-mail campaigns
CDs

Blogs
Video
Podcasts
Photo Sharing
Mapping
Social
Networks
Resources

Benefits of Blogs
Blogs are effective at
Spreading a message
Establishing credibility and authority
Connecting groups of interested readers
Networking
Giving a brand a human face
Reaching a wide audience
Getting exposure

How Do You Get Started?
Find a Publisher – if you want to publish
Wordpress
Many websites offer one-click install of blog software
Activerain offers a free blog to REALTORS® at www.activerain.com

Publishing with RSS
How are they read?
Through Internet Explorer
Through E-mail
On a BlackBerry
On a computer
Through Instant Messaging
Widgets

Promoting your Blog
On all marketing materials
Website
E-mail signature
Brochures
Notes to clients
Share articles
Have property search on blog

www.TopProducer.com
Page 24

Active Agent for Outlook
http://www.sonomaenterprises.com

Pat Zaby’s Respond Software
www.PatZaby.com

Microsoft Outlook

www.RealFutureCRM.com

Rule Number Two
Always honor user requests to opt-out.
Make it a simple process and include
a Web site address in every message
that allows the user to opt-out.

Rule Number Three
Confirm everything by e-mail: The initial opt-in, requests, and changes
in the customer profile.

Rule Number Four
Avoid asking for too much information. Instead, structure your program so that you gain more information over time.

Rule Number Five
Give and you shall receive
Customers give you their e-mail address in exchange for something of value
Be creative and follow through by delivering real value to the recipient with every message.

Rule Number Six
Your list is an asset that only
you can use; do not sell or rent it.

Rule Number Seven
Develop and post a privacy policy for your Web site
It reinforces how valuable they are to you and fosters confidence in your integrity.

Rule Number Eight
Respond to customer e-mail inquiries promptly.
Believe it or not; the average response time to return an e-mail is 54 hours

What did you learn today that can enhance the way you promote and grow your business?

Ri403 Marketing Rathbun

by Matthew Rathbun on Jul 07, 2009

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Ri403 Marketing Rathbun — Presentation Transcript