Profiting from the real estate downturn, part III

Sad to say, many Realtors and others who serve the real estate market will drop out over the next few months. They'll buy into the gloom and doom and stop trying.

We have to be honest here, and realize that a whole lot of agents who got in when the market was hot weren't really trying much then, either. Just being there gave them enough business to keep them in the game. During my 19 years in real estate I met dozens of them who gave little effort to sharpening their skills - either as an agent or in marketing themselves.

Their decision to drop out is good news for you! They really were just cluttering things up and making it harder for customers and clients to find you.

Now is the time to sharpen your expertise - about all the homes for sale in your niche, and especially about how to deal with selling repossessed properties. And now is the time to market yourself as an expert.

Since many of those homes are in a pre-foreclosure state, it's also the time to learn all you can about handling short-sales. They do require an extra dose of patience and persistence. They also call for your use of compassion and kindness, because those home sellers are in a state of unhappy turmoil.

For those who serve the market in other ways, you may have to shift your idea of who your customers will be - for instance, instead of marketing exclusively to home sellers, also market to the agents who handle REO properties.

But think about this: Those people who are not in financial trouble, but who need to sell and move during tight times, may need your services more than ever. We all know that a sparkling clean and properly staged and landscaped home will sell faster than homes that merely look "lived in."

Your task is to show home sellers the advantage you can give them over their competition.

So get out there and present yourself as the professional they need! And if you have a hard time developing your marketing plan, get in touch.

This really can be a time of prosperity...

Marte

Some Realtors chase prospects from their sites

My husband has decided he wants to move - he isn't quite sure where to, but somewhere on water so he can walk out the door and get in his boat. Of course, he knows it has to be somewhere that will also accommodate a horse and a garden spot.

So, he's been searching the internet to see what's there.

And guess what? He isn't able to find out.

He's just looking at this point, not even sure whether he wants to look in Montana or Washington, or even Canada. So, he refuses to put his name and address in the boxes on Realtor sites. Therefore, he's not allowed to see what's for sale.

Tonight I did get stubborn and keep looking after he gave up. And on about page 14 of Google I found one real estate site that offered a peek at listings without first putting me through a squeeze page.

Now, we may never move at all. And if we do, maybe not to that area. But if we do, guess which agency will get our business?

I harp a lot about capturing names, but I do believe this is the wrong way to do it. Instead of turning customers away, give them this information without obligation, and then offer some useful report to capture the names of the prospects who are truly interested in moving to your area.

Not only will you make a friend, you'll save yourself the bother, time, and expense of staying in touch and pushing on people who have no intention of moving to your town.

Think about it...

A marketing idea for Halloween

I wish I could take credit for this one, but I'll have to admit that I read it on a forum somewhere.

Halloween is fast approaching - so soon now that the checkers in the grocery store today were discussing their costumes and what they can wear that will be comfortable to work in all day. I hope I remember to go to town that day to see what they all come up with.

I used to go to the real estate office with my hair sprayed bright pink - I loved it!

But costumes aren't what this is about. Back to the idea.

If you live in a neighborhood where you'll get trick or treaters, buy a supply of those tiny brown bags and attach your business card to each of them before putting in candy. Then hand each of the children a bag at your door. Since most parents now do check the candy before they let the kids pig out, they'll see your card and know they have a top agent in their own neighborhood.

You might even have some inexpensive cards printed for the occasion - you can do it on your computer if you have the right program. Say something like Happy Halloween from Jane Doe - your neighborhood Realtor. Then insert the tag line that you've created for your specialty.

If you try this, be sure to put some mom-approved candy in that bag!

The growing REO market offers opportunity

It's a sad but true fact that many people are losing their homes this year. You feel sorry for those people, but there's nothing you can do about it -- unless you're as rich as Midas and you can bail them all out.

That said, there's no reason not to take advantage of the opportunity it presents to Realtors and a host of other service providers who deal with real estate in some capacity.

First, the real estate agents: If you can become expert at finding out the unknown facts about these homes, you can become a valuable resource for buyers - and you can advertise your expertise. Keep in mind that many agents are too lazy to dig until they learn the things buyers want to know. They're used to sellers providing information, and that just won't happen with REO houses. When you provide the extra service, you'll stand out from the crowd.

Then - the others. Another sad fact is that many repossessed homes are in terrible condition. They're either dirty or damaged or both. Some homeowners, upon realizing that they've lost their homes, go out of their way to leave everything in top condition -- others go out of their way to destroy things. I've even listed repo houses where the kitchen sink had been removed and rocks thrown down the well.

That offers opportunity for a whole host of other professionals. People like:

• Cleaning people
• Plumbers
• Electricians
• Painters
• Landscapers
• Carpenters
• and sometimes, even well drillers and septic installers.

The company listing their REO's may not be willing to pay for repairs, but often the new purchasers will want help with some or all of the cleaning and repairs.

If you're a Realtor, begin compiling a list of competent service professionals. If you're one of those professionals, make up a little brochure outlining your services and give copies to all the real estate people in your vicinity.

You'll be helping the new purchasers and helping yourself at the same time.

Until next time, I wish you success.

Marte

Read any good real estate signs lately?

Hi all,
Last week-end I got to be a passenger instead of a driver on a couple of trips in to town, so I got to do more gawking than usual. It's always fun to get to really look at the things passing by outside the windows and notice the changes that have taken place.

One thing I noticed a lot is real estate signs - and how few I could read. For some it's because the sign itself is too busy - the print is too fancy and small to be easily read at 60 miles per hour. And because of the placement, it does no good for a passenger to turn for a longer look. But for others, it's because they're torn, faded, or knocked over.

Those "silent salesmen" aren't doing a very good job!

A few of those signs had brochure boxes, so if we had been in the market for real estate we could have stopped to get some information - if there had been brochures in the boxes. Most are empty.

Now I'll admit, its been a long winter and it isn't any fun to get out there and take care of signs in the snow and the mud. But some things you need to do for your business just aren't fun. They need to be done anyway.

Before you head out there to straighten or replace the signs and fill those brochure boxes, why not take a couple of hours and re-vamp your flyer? Give those prospective buyers something good to read that will make them get on the phone and make an appointment?

In fact, before summer hits and the real estate market gets crazy, why not give ALL of your marketing materials a face-lift? Good advertising takes time, so do it now while you still have a little time.

If you're looking for more ideas to energize your business this year, check out my e-book, Getting Clients.

You just might find the idea that will double or triple your sales this year - without doubling or tripling the time you spend at work. Wouldn't it be fun to have the money for something like a new boat - AND have the time to go enjoy it?

Meanwhile, if you consider writing your ads an unpleasant chore, just write me. I actually like that part of your job.

Until next time, good selling!
Marte

Write a Real Estate Prospecting Letter They'll Read!

How many times have you gotten a letter, started to read it, and then set it aside?

My guess is it happens to you even more often that it happens to me. I'm a copywriter, so I want to know what other people are writing even if I don't want the product or service. But... since I can't read everything, I stop quickly when I see there's nothing to learn.

What's your criteria? Do you read the letter if it happens to be from your competitor? (You should) Do you at least begin to read it if it is from a person whose services you might want soon?

And what makes you stop? Usually there are three reasons why people don't read your letters. The first is that they clearly see that you don't offer anything they want.

Next is that your headline and lead failed to show them how choosing you to do business with gives them a clear benefit. Remember - everyone wants to know what's in it for them.

Third is style. If your style is boring and hard to muddle through, most people won't bother. And now, contrary to what your High School English teacher may have said, please realize that "proper" and interesting don't always go hand in hand.

The best way to write a letter people will read is to make it sound just like you. Use your own voice and "talk" on paper. If you have some dangling particples, so what? That's how we talk.

I should add a note of caution, however. If you've picked up that awful "like" habit from your junior high and high school kids, eliminate it on the final draft. And of course don't curse!

Because so many people stiffen up when they begin to write, do this: Pretend you're talking to a dear friend who happens to belong to your target audience. (Yes, do a little make-believe if you have to.) Then start telling your friend how you can help him or her with your services. Be sincere. Forget what getting this client means to your bottom line. Just concentrate on how you will help your friend.

At this point in the process, don't over-think it. Don't agonize over your sentences or do any editing. Just write your thoughts. Editing now will block the flow.

When you've finished, set the letter aside for a few hours. Then come back and "clean it up" with a little re-arranging, spell-check, and punctuation. Break your long paragraphs into small ones so your page has plenty of white space and so each paragraph contains only one idea. Cut out unnecessary sentences to make it concise.

Add some information about how to contact you, and you're almost done.

Now read it out loud and see if it still sounds like you - and if it makes good sense. If you stumble somewhere, go back and re-work that section until it flows smoothly.

Keep it up and pretty soon people will be telling you how much they enjoy your letters.

If you absolutely can't do it - call on me and I'll do it for you. Real Estate copywriting is my specialty.

Happy writing,
Marte
writer@marte-cliff.com

What's your biggest real estate marketing challenge?

This afternoon I was talking with a friend about real estate marketing. She felt the biggest challenge was marketing herself to get new clients. But a few days ago another agent told me that writing interesting ads to sell his listings was the really tough part.

What do YOU see as the biggest challenge in real estate marketing?

Since I love writing, prospecting letters were fun. I'll admit that finding a way to position your work as different from the competition is a challenge. It takes a little work to determine what you do that's "more and better." But you can do it, even if you have to stretch and push yourself to add a little more service to your work.

My big problem was trying to find a unique selling point when I had a boring listing. For instance, in our town we had an over abundance of old single-wide trailers. Usually they sat on lots that had no landscaping, no garage, no nothing to make them special. About the only thing to say was that it would be a roof over your head for little money!

Now, of course, even those old trailers are expensive. I'm glad I'm no longer trying to find buyers for them.

The second challenge in writing good house ads is putting the buyer in the house without breaking any ADA or Fair Housing rules. That's why I love the fact that over 3/4 of all buyers search first on the internet. You can write more words, and that lets you show people what they can see, hear, walk to, etc. without using any of those forbidden words.

Are you using the full potential of the internet to bring buyers to your listings? If not, then make it your January resolution to get started.

Meanwhile, post your answer to my question: What is your biggest challenge in real estate marketing.