real estate

The Secret to Real Estate Advertising

Real Estate AdvertisingAs a real estate agent, it can feel like there’s a plethora of marketing & advertising channels available. Mail outs, Google Adwords, Zillow, Yellowpages.com, Facebook, billboards…. the possibilities are endless.

The only problem? As consumers are hit with more and more ads – it becomes easier to ignore them. The media landscape has become so crowded, that getting your voice heard above the noise is increasingly difficult. Not to mention, managing advertisements across so many different platforms can be a headache for any agent.

There’s no magic bullet advertising solution that guarantees success. No Facebook ad, Zillow profile or billboard can catapult your business. While they’re all great tools to have in your arsenal – in real estate we grow our business through relationships. And our connections with past clients and professional contacts is how we grow our client list  in a sustainable, scalable way.

So, what’s an agent to do?

Stay Connected with Past Clients

For agents in business 16 plus years, 41% of their business comes from repeat clients while another 20% comes from referrals. Moral of the story? By staying in touch with past clients, you can save money on advertising and create a self-replicating sales funnel. 

Add Value After Closing

Staying in touch isn’t enough though. As a REALTOR – your expertise includes the entire real estate cycle and not just getting to the closing table. Add value after closing by sharing home maintenance tips, market updates or by recommending your list of trades professionals to help clients with their home.

Strengthen Relationships with Professional Contacts

Your professional network – like lawyers, mortgage brokers, home stagers & trades professionals are all so important for showing clients your position in the market and showcasing your reputation.

Engage in Referral Reciprocity

With a strong professional network, these individuals are strategic partners for growing your business. By referring clients to lawyers, mortgage specialists, contractors and other contacts, you’ll benefit from referral reciprocity and have them send referrals.

 

At the end of the day, research has proven that the most trusted form of advertising is recommendations from people you know. So by focusing on your sphere of influence, you can feel confident that your advertising time & money is well spent. 

Building Referrals from Your Professional Network

Building Your Referral NetworkDo you have a vendor network? A list of business professionals that you refer clients to and that send referrals your way?

For most top producing agents, their professional network of trusted service providers is the most lucrative referral source. So, if you aren’t actively growing & strengthening your professional network – here’s how to do it.

Why Does it Matter?

Business owners understand the importance of referrals. They know referrals are the backbone of any successful business,  and they’re willing AND wanting to find referral partners. Better still, they understand the difference between a qualified and unqualified lead – and will send you  more profitable, easy-to-close referrals than referrals from past clients.

How to Get Started

To get referrals from professional service providers, start by making a list of industries. Don’t limit yourself to ones you already have contacts in – think outside of who you already know and do business with.  And don’t just stick to industries that are directly involved in the real estate transaction. Plumbers, contractors, florists, car dealers, even local restaurants can all be great partners. Remember – the point is to expand your network to find potential clients that you otherwise wouldn’t meet.

Find Partners

Now, in each industry – list a potential business owner/contact that could be your referral partner. Don’t know anyone in the industry? Ask clients who they currently use and trust, ask over social media, or do a quick search on Yelp for a highly rated business in the category.

Make Contact

Call up these potential partners and introduce yourself (if you don’t already know them). Explain that as a real estate agent, you’re often asked by clients for referrals for great businesses and that your building out your list of recommendations. Ask if you can meet to discuss potential opportunities and learn more about their business.

Build Rapport, Build Relationships

Remember, real estate is about relationship. Build rapport with these service providers & business owners – learn about what they do, their business history, who they work with. By understanding their business, you can send better referrals their way and they’ll send better referrals to you. If you want to build a lasting relationship where they’re actively referring their clients t0 you – it isn’t just about exchanging a business card.

Track

Just like all of your leads, you should track your referrals. Keep a tally of the referrals you receive, who sent them, time to close, and the purchase price. This way you can evaluate who your best referral sources are, and how you can better foster these relationships.

Don’t Let it Slide

Building and fostering relationships with trusted service providers & local businesses is not a one time thing. Follow up with your contacts on the referrals you’ve exchanged, invite them to your client appreciation events, send a holiday card, go for lunch. Looking to find new referral partners?? Call up the landscaper your last client was raving about or the new florist that opened down the street.

Have you built out your network of service providers? Who are your most trusted referral partners? 

How to Become a Local Real Estate Expert

How to Become a Local Real Estate Expert

Whether a client is moving across town or across the country, they’re going to need trusted advice about their new area. Everything from neighborhood profiles, school districts, the best local restaurants, recreation centers and commute times – they all factor into the home search process and settling in after finding the perfect property. This means that for real estate agents, becoming a local expert can differentiate you from the competition, increase leads and add new client value. So just how do you become a local expert??? Here’s our 5 steps.

1. Do Your Research

Before you can be recognized as a local expert – you’ll to have to do your research. Study up on neighborhood demographics and market reports to know the ins and outs of why people love the area, and what homeowners can expect from their property investment. Most of this info is available from your real estate association and municipal government. Local politicians, city planners, other real estate agents and people currently living in the area are all great resources too.

2. Be Involved

Getting involved in the community is key for becoming the area’s go-to agent. Join community associations, volunteer at charity events, attend festivals and shop local. Being an active community member helps you learn more about the neighborhood and make connections. Don’t forget to introduce yourself as a Realtor!

3. Get Connected

Align yourself with other professionals and great businesses in your local area. This network can keep you connected with what’s going on, add new value for your clients and drive more leads. If you’re still building your network, consider joining a business networking group. Already have strong local connections? Use these contacts to refer clients back and forth, or start a client affinity program to provide your clients discounts and specials from your contacts. 

4. Share Your List

Connect clients with the best home service professionals and local businesses by sharing a list of recommendations. After moving, clients always need the names of painters, plumbers, landscapers or even the best pizza joint. This is such a simple way to add more client value and help clients even after you close.

5. Keep Clients Up to Date

Do you send client newsletters, have a blog or actively post on social media? Make sure to include info about your neighborhood. Keep clients informed with market updates, community events or when new construction is planned. This is an easy way to show your knowledge, add value even after you close and establish yourself as a local expert. 

 

With ClientLinkt by QuickLinkt real estate agents & offices can share their list of trusted home service providers and local businesses with clients via their own custom-branded mobile app – helping them to increase client value, stay top of mind & drive referrals. 

Referrals Found to Be the Most Valued Lead Source for Real Estate Agents

business deal shaking handsJohn Wanamaker famously said “I know half my advertising dollars are wasted… I just don’t know which half.”  Now, even though Wanamaker lived over 100 years ago, the same saying still runs true for real estate agents today.

A recent study published on Inman News showed that many real estate executives see little to no value in the marketing channels agents use. Executives were asked to rate the quality or ROI of lead sources. The executives interviewed were all leaders of real estate firms that accounted for ⅓ of home sales participating.

The results of the study were pretty blaring, showing that by far the best lead source is an agent’s Sphere of Influence. 86% of those interviewed said that referrals from agents’ Sphere of Influence had exceptional value, whereas less than 10% agreed that MLS/Associations, Zillow, Realtor.com and Trulia had exceptional value. Worse yet, more than 50% said  that MLS/Associations, Realtor.com, Trulia and Homes.com had little to no value.

 

 

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What’s even more surprising is that these executives were only asked to rate lead sources that their agents use! So, the over 50% of executives that said MLS/Associations, Realtor.com Trulia and Homes.com had little to no value are spending time and money using these sources to generate leads.

Looking at the results, it seems obvious that real estate agents should be spending more effort growing their Sphere of Influence and engaging with these referral sources instead of spending money on third-party websites. An agent’s contacts can send qualified leads that know how great the agent is and are ready to buy or sell, whereas third-party sites may be sending you the data on people that were curious about how much their co-worker spent or already have a real estate agent.

So, if you’re ready to start spending more time on referral leads and less on third-party sites, it might be time to shift your marketing efforts. To grow and engage your network, you can:

  • Participate in community associations
  • Network with other business professionals – like mortgage brokers and lenders
  • Send email newsletters to past clients with home advice and info on community events
  • Develop an editorial schedule for your blog and social media – remember that it isn’t just about selling!
  • Send personalized holiday cards or notes to past clients

If you’re sick of spending money and time on marketing efforts that don’t seem very valuable, maybe it’s time to start leverage your Sphere of Influence. How do you engage with your past clients?

 

5 Tips for New Real Estate Agents to Survive & Thrive

Real estate is a tough market. With 9 out of 10 agents leaving the industry in their first year, it can be especially intimidating for those getting started. Since we’re always looking for ways to help agents grow their business, we asked some of the experienced real estate agents using QuickLinkt what advice they’d give to those starting out in the industry.

 

1. Let People  Know You’ve Made a Career Change

You’ve likely heard your broker or other agents stress the importance of your Sphere of Influence – the personal and business connections that respect your expertise and know how great you are. These contacts can send you referrals and connect you with potential clients ready to buy or sell. Write a personalized note to let  connections know you’ve made a career change and why you’re passionate about real estate.

2. Learn from The Best

Agencies and professional associations are full of experienced & knowledgeable real estate agents. Take advantage of training initiatives and spend time helping out other agents as you build your client list. Your education doesn’t stop the day you pass your licensing exam, so be prepared to always keep learning. Remember, your broker WANTS you to succeed!

3. Get Involved in Your Community

As awesome as real estate agents are – you won’t meet many potential clients hanging out with other agents. Getting involved in your community is a great way to help your career. First, it helps you to become an expert in the neighborhoods that you work in which can be key for wowing your clients and closing transactions. Better yet, being involved in your community is also a great way to connect with potential buyer & sellers.

4. Go Online!

90% of home buyers use the internet in their home search process. If you don’t have a strong online presence – you’re missing out on 90% of potential leads. Learn how to edit and update your website, create social media pages for your personal real estate brand, start an editorial schedule for your blog and research how to create & manage online ads. It may seem daunting, but there’s lots of great advice on digital marketing for real estate.

5. Grow Your Referral Pipeline

Referred clients are 4X more likely to do business with you. When you’re working with clients and after sales have closed, let clients know that a referral is the best compliment. The home buying and selling process can be stressful – your happy clients will want you to help their friends and family with the process.

 

What advice would you give to new real estate agents?