This document discusses personal promotion strategies for real estate agents. It provides statistics on home buyer and seller preferences and how clients choose agents. The document then outlines sections on learning promotion and marketing budgets, developing a personal promotion plan, selecting a niche market, and using technology and photography in promotion. Key points include investing 15-20% of gross income in promotion, developing a unique selling position, and using color photography in direct mail and email marketing.

1. Welcome to…RI 403: Personal Promotion

3. 2007 NAR Profile Home Buyers and Sellers

4. What are they looking for?93% looked for Homes 21% Area Information5% Real Estate Company3% Real Estate Agent

5. 2007 Profile of Buyers and Sellers

6. How the Buyer found the house

7. Why Clients Chose Their AgentYou should know the client / customer’s expectations as well as their needs*

8. Generation170% Growth in 35-45 year olds in past yearAverage age of a user is 32Majority are College GraduatesLargest increase of users are those over 55 in the past year175 million active usersAverage users have 120 friends18 million update dailyOver 3 Billion minutes spent on Facebook dailySource: http://www.facebook.com/press/info.php?statistics

9. Section OneLearning ObjectivesLearn the differences between Business and Promotion expenses

10. Learn how and where to invest your money to get the optimal return on investment

11. Projecting your future income

12. Identify additional sources of businessExercise OneDefining Business and Promotional Expenses

13. 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 1Page 1

14. 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_ Computer15% to 20% of your Gross Income should be invested into Promotion and Marketing*Page 1 and 2Page 1 and 2

15. Budget FrameworkRocksVacation, Private SchoolsDebtInsurance, Utility, LoansPersonalEntertainment, GroceriesTax PaymentEstimates / Quarterly PaymentCharitable ContributionsTithes, donations, etc…Business PromotionPromote YourselfBusiness ExpensesDues, MLS, EquipmentSavings401, Investments, BasicMonthly SalaryPages 3-7Pages 3 and 4

16. Marketing Requires Adequate FundingDon’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.

17. Section TwoLearning ObjectivesUpon completion of this sectionParticipants will be able to structure a personal promotion and marketing plan

18. Develop a personal budget and personal business goals

19. Identify market factors effecting their marketsWhat is Personal PromotionIt’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

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

21. Immediate Business1. Regular and Consistent Contact2. Consistent Format3. Periodic Personal Contact4. Follow-up and Ask for referrals5. Generate Clients from Listings(not “Use your sellers”)Page 9Page 9

22. Prospecting examples:Open HouseDoor KnockingTelemarketing (Cold Calls)Client PartiesNetworking eventsSocial FunctionsCommunity EventsSeminarsBooths at eventsTeaching and Speaking opportunitiesAny more?Page 8

23. Will Buyers and Sellers Settle for the Cheapest Solution?In the absence of perceived benefits… Cheaper is the most likely alternative

24. 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 servicesYesNOYOURFEELots of benefitsNot enough benefitsCost

25. 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!

26. You Must Avoid Appearing Like Everyone ElseWhat Makes You Different?How do you demonstrate your Unique Selling Position? Page 10

27. “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).

28. Your name should become the name buyers and sellers think of when it comes to Real EstateTOMATop Of the Mind Awareness

29. Slogans from the PastPlop, plop, fizz, fizz oh…

30. How do you spell relief?

31. When it absolutely positively has to be there overnight…

32. It takes a licking but keeps on ticking

33. The Un-Cola.Who Are They?Page 10

34. Express Your UniquenessCreate a slogan

35. Incorporate your name with your slogan

36. This ties your name visually with what makes you unique

37. It will give you a position in the customer’s mindPage 12

40. 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.

42. Tools for Branding1. Logo Design www.eLance.comwww.HobbsHerder.comwww.gimp.orgwww.Picnik.com2. Slogan3. Your Real Estate Image4. Color and Style 5. Personal Appearance6. Stay Consistent Branding presents consumers with a consistent vision or image*Page 12

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

44. Three Secrets of SuccessThe first secret is to anticipate your consumers needs… and deliver just a little bit more than they expected from you

45. The second secret is to know your market and be ready to provide solutions when problems arise.Three Secrets of SuccessThe Third Secret: Accept that we have entered the age of the never satisfied consumerSome Examples of SlogansThe Neighborhood Specialist

46. The Condo King

47. The Affordable Housing Specialist

48. Second Home Specialist

49. Investment Property Specialist

50. First Time Buyer’s Expert

51. Lots Exclusively

52. For Personalized ServiceSection ThreeLearning ObjectivesUpon completion of this sectionParticipants will be able to describe and select their niche market.There’s a Market for EveryoneWhether 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.

53. The Best Way to get Started is to:Decide what you like to do best

54. Decide what you’re best qualified to do

55. Decide which geographic area to work

56. Find out what people want so you can better serve their needsTo get what you want, your customers must get the feeling:You really like what you do

57. You do what you do efficiently and effectively

58. You care about them

59. You are providing them with quality servicesMarketing Involves Three Major StepsInforming: Explaining what services you have to offer

60. Persuading: Demonstrating the benefits of your services or products

61. Reminding: Using spatial repetition to tell them over and over againBe Creative!Your Turn: Name some others

62. List Your Creative Ideas ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

63. Niche MarketingWhat is a Niche MarketSpecific Group versus General Public*AdvantagesEasier to make personal contactDatabase managementFocus on marketing dollarDisadvantagesSmaller pool of prospects*May alienate some consumers (luxury homes)Page 13Page 13

64. Questions About Your NicheWhat do I know about my niche?What do we have in common?Am I comfortable with them?Where can I find themHow 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

65. Mix Things up a LittleA combination of direct mail and e-mail is good for niche marketing because it delivers timely and useful information to specific markets

66. Postcards are effective and inexpensive direct mail pieces. They can be used in between major mailings Begin with Points of DifferenceEstablish Your Credibility

67. Deliver a Pre-Listing Package

68. A personal letter from you

69. Testimonial letters from Raving Fans

70. Production figures

71. Number of families helped

72. Feature your Performance StatisticsTo make sure the competition doesn’t win over your clients; provide them with an Award Winning Experience

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

81. How Important is Photography?

93. Personal BrochuresA recent picture

94. A head and shoulder shot with your eyes prominent

95. Associations, education, accomplishments

96. Elected positions, awards & honors, and family background

97. More importantly, don’t forget your Website and your E-mail addressPage 16

98. Use ColorColor attracts 50% more attention than black and white.

99. Black and white attracts more attention than not mailing at all

100. If the content is consistently superior they will look forward to receiving your mailers.Neighborhood ExpertBy delivering quality information, you become their real estate expert

101. Headlines draw attention and cause prospects to read your e-newsletter

102. You only have 3 to 5 seconds to capture the readers attention

103. Keep your opening short and interesting.Introduce yourself as the Neighborhood Real Estate “Expert”Palmerston North Subdivision2008 Marketing UpdateLast 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.

104. Introduce your Services to your Sphere of InfluenceValuable CouponONE FREE HOUR OF REAL ESTATE CONSULTATIONCoupon is Fully Transferable Valid until 12-31-2009$125.00Value

105. TechnologyGet out of your comfort zonetry something new

106. 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

108. What is Technology’s RoleIt’s a tool to provide better serviceIt’s a Lead Generator Advertisement Necessity We only use 10% of our available software on our PCs

109. The Human FactorDon’t assume they prefer e-mailGet a face to face meeting as soon as possibleMeet with Client when getting Documents SignedRemember technology is a tool and not a replacement for YOU!Be PatientUse the PHONE

110. Who is On-Line?NAR Statistics (2006) On-Line Consumers38% are between 25-34 years of age67% are Married17% are Single Females8% are Single MalesMedian income is $70,700 per year

111. What are they looking for?93% looked for Homes 21% Area Information5% Real Estate Company3% Real Estate AgentWebpages should be your electronic brochures and relocation packet*Webpages should not contain a log of movement…*

112. On-Line PersonalitiesEasily DazzledInformation HungryUsually between 23 and 44 years oldWant Constant InteractionTypically not very loyalEasy to get information toWant Tech Savvy Agent

113. Permission SellingStarting now begin collecting e-mail addresses and permission to use them from everyone you meet

114. A good way to collect e-mail addresses is through your web site. Have an opt in feature.

115. Ask prospects to allow you to send them monthly articles of interest.List BuildingGo to:http://www.constantcontact.com