One quick way to get extra business right now is to target Expired Listings.
Keep in mind, these are people who want help from an agent but for some reason haven’t been able to sell their home. You’ll have to speak to their frustrations and position yourself as an agent who can help them in their situation.
You can find expired listings on your MLS and mail them a simple letter like this example:
Tips For Using This Expired Letter To Bring You Business:
Important note about modifying this letter: This letter has one and only one purpose which is to get prospects to CALL YOU! Notice how everything is “Packaged” specifically for the expired prospect? It uses excellent elements to handle objections, gives lots of Unique Selling Propositions (what you’ll DO for them), and teases for response. You can modify this letter to fit your practice, but be careful about changing too much as it may reduce the effectiveness. And don’t forget to PERSONALIZE the letter with the homeowners first name if you can get that data from your MLS.
This letter offers a service called the “Maximum Home Value Audit.” You can do an in-person review of the major areas of their home in addition to a CMA to differentiate yourself from what most agents would offer Expireds. Because you’re one of our valued Agent Inner Circle® members… here’s a ready-to-use template you can use for this!
You can enclose a packet of aspirin or antacid or string (to remind them to call you) with this type of letter. It helps to make a greater impact on the reader because it advances your message. Plus, you know they’ll remember you!
Using a multi-step approach with this letter will maximize your response. Mail a SECOND NOTICE (sent 3 to 7 days after the first letter) and a FINAL NOTICE (sent 7 days after the second letter). See this real estate marketing article to learn about about multi-sequence mailings. Some agents even send letters like this via FEDEX because it looks official and will get opened. You’ll have to test and see if the numbers make sense based on how many expired listings leads you turn into clients and your average commission.
Follow-up with a phone call. Most agents will do one or the other (only send a piece in the mail or only try to cold call). If you call 3 days after you mail the letter, it is a warm call because you can ask if they got the package you sent to start the conversation.
[Ed note: This article is a small excerpt from the "Fast-Track to Success" Turn-Key Real Estate Business Building System. To learn more click here.]
What do YOU do to get Expired Listings?
Email us to share it with the Agent Inner Circle® community. Or…
You’ve heard of the research firm called Gallup, right?
They’ve studied human nature and behavior for more than 75 years. And even in their early days, they knew that respondents do not always give reliable feedback.
In face-to-face surveys about radio, Gallup’s people would start by asking, “Which would you rather hear on the radio tonight—Jack Benny or a Shakespeare play?”
If the respondent said Shakespeare, they knew he was a liar and broke off the interview.
Ask one hundred people today if they make buying decisions based on emotion, and they will all say “No”. But, this is equally unreliable feedback. In the American psyche, emotions are shunned. They are viewed as a sign of weakness. The truth is we all rationalize with facts, but we buy on emotion.
Understanding this is one of the key elements that separates money-losing advertising from profitable advertising and top-income earners from agents who are barely scraping by.
Common Traits Of Novice Marketing
Novices tend to market the obvious—that which is tangible. If they are selling a product, this usually means a dry description of features. In the real estate business this is why you see a house promoted with a simple flyer that lists items such as the number of bedrooms, baths, etc. Computers are routinely promoted with nothing more than a list of specifications such as the processor speed or size of the hard drive.
And if a company provides a service instead of a product, you see the same tired promises over and over. “Me-too” claims from this school of thought often take the form of brag-and-boast promises about quality…or “Our customers are number one” or “We have 47 years of combined experience” themes.
Examples Of Emotion-Based Marketing
At one time, the hottest segment of the auto industry was Sport Utility Vehicles (SUV’s). But were they being purchased because consumers have a genuine need to traverse the outback? Don’t kid yourself. The closest thing most SUV’s will ever come to rugged terrain is a speed bump in a shopping center. SUV’s are purchased for the lifestyle image they project—pure emotion, and this is okay.
And do people shell out $10,000 for a Rolex watch because it keeps time accurately? No, people buy a Rolex for its prestige. You have seen Rolex ads for years. Their marketing doesn’t try to impress you with its quality materials. Rolex ads are normally done in the form of a short bio about a famous person or adventurer. They associate their product with successful people.
Want another example? The average business person would likely agree that “good food” is crucial to the success of any restaurant business. But are you sure? McDonalds sells more hamburgers than anyone in the world, but do they make the best hamburger? Not by a long shot. For years, McDonalds has used emotion-laden TV commercials with kids as the theme. When you think of McDonald’s you don’t think of the unique flavor of the food, you think fast, clean, consistent.
How To Sell More Homes By Putting An
EMOTIONAL Angle In Your Ads
If you want to win over more customers, try to get at the real — the deep-seated — reasons that make them buy. Don’t tell them about you…tell them how they will benefit from purchasing your service or product.
Because I was fortunate enough to receive firsthand “advertising agency” experience, my ads include an emotional appeal instead of straight facts.
The good news is, you can quickly learn from my years of experience by looking closely at the following example of an emotion-laden homes ad.
The house featured below had been on the market for over six months. The previous marketing (shown below as ‘BEFORE’) was a typical flyer that simply described the physical structure such as, “ Parking: 3-car garage, Foundation: Slab, Fireplace: One, Kitchen: Gourmet Island,” etc.
The ad I used (shown below as ‘AFTER’) told what it would be like to live in the house—an appeal with much more emotion. It sold the house quickly.
(Click the image to download a PDF of the full ‘AFTER’ ad)
Using a similar approach in your homes ads can help you sell more homes, in a fraction of the time.
Have you ever heard of the 80/20 rule?
It suggests that 80% of sales are made by only 20% of the salespeople—a pattern found in almost every industry. But, the same is true of advertising—some ads sell more than others.
The famous copywriter, Claude Hopkins, said: “A mediocre salesman effects part of your business. But, mediocre advertising effects all of your business.”
I have a feeling you didn’t get in to real estate to be mediocre. Question is, will you take the time to learn and apply what I’ve taught you through this example?
I hope you will. It’s a powerful way to differentiate yourself from every other agent out there, sell homes faster, and make more money. The choice is yours.
[Ed note: Copyright Stan Barron. Reprinted with permission. If you, or someone you know wants to sell a house, please give Stan a call at 512-345-8585.]
The first step in writing an effective ad to sell a house is to stop using “me-too” flyers.
This is the biggest mistake I see when I hear a home is not selling. Real estate agents and even builders try to use these ubiquitous “fact sheets” that typically include coma-inducing details such as the address, number of bedrooms, living areas, and the most mind-numbing statistic of all — the SEER rating of the HVAC system.
But it gets worse. As if it will somehow attract more attention, these flyers are often printed on astro-bright paper. This is the equivalent of driving by a business that has resorted to renting a giant, inflatable pink gorilla to place in the parking lot for a special weekend sale. Neither the flyer nor the gorilla is a dignified marketing method for selling upscale anything.
Am I against flyers all together? Not necessarily. If you can turn your “traditional” flyer into a compelling story ad for a home—one that does a professional job of selling a high-end product, then you can use a flyer, or whatever you wish to call your ad for the home.
Are there better methods to sell homes than the “traditional” flyer? Absolutely. To get into step with more professional methods of selling homes, think about how other high-dollar items are advertised.
Consider what took place in the cosmetics industry several years ago. As retailers were stampeded into throwing up a website, they were faced with a problem: “How does a retailer create a website when it sells thousands of different items?”
What most did was to simply list the product name with a corresponding price. This did not sit well with perfume makers who rely heavily on the image created by the packaging, shape of the bottle, etc.
When the perfume makers saw their products reduced to a line item and a price, they quickly protested. They rightfully objected that this practice reduced their brands to a commodity, and it encouraged the consumer to make a decision based solely on who had the lowest price.
A similar objection is called for when a home is marketed with a flyer that simply lists the number of bedrooms and living areas along with a description of construction materials. Even if you don’t sell “luxury homes” a house is still the largest purchase most will ever make.
If a marketing piece is allowed to boil a house down to its fundamental elements, then the house is reduced to a commodity.
A builder, architect, or seller may know all of the nuances that make a home special, but remember, the consumer will form an opinion based on the marketing material he is exposed to. If that information covers nothing but the basics, guess what happens? The consumer will migrate to a method of comparison that makes him feel secure and comfortable… the dreaded price-per-foot analysis.
How To Use A Professional Real Estate Ad,
Not A Traditional Flyer To Sell Homes
In Weeks Instead of Months
Here are six must-have keys to writing effective ads that sell homes in record time:
#1: Use a long ad
Testing shows that long ads sell better than short ads because long ads can educate the consumer as to what makes a product special or unique.
#2:Appeal to the reader’s self-interest
Should a company’s marketing state how long it has been in business? Is it a good idea to stress a builder’s dedication to quality and customer service? Or, how the sellers have diligently cared for the home? Doing so is a novice mistake.
I heard a quote once from a successful copywriter who observed: “Customers respond when you give them information that appeals to their current belief system. Don’t tell them about you. Instead, explain how they will benefit.”
For example, the headline, “At last, here is a modern home on a large lot” has a much greater chance of stopping the reader than does, “Broughton Homes means quality you can count on.” Or the more pathetic example of: “Lovely Austin home that is move-in ready.”
#3: Tell an interesting story
The most difficult part of writing is getting started. To get the ball rolling, imagine the natural flow of conversation if a builder was at the jobsite when a customer stops to say, “I have been watching the progress of the house and really like it. What made you design the house the way you did?”
A builder would likely be flattered with such a question — and will not talk about the thickness of the insulation or the size of the water heater. Instead, he probably will talk about his vision for the house, describing what originally appealed to him about the lot. He may explain how he positioned the pool to catch the maximum amount of afternoon sunlight, etc. This process can produce fascinating insights that would have otherwise been missed. Here’s an example…
A well-known architect was interviewed about a house he designed. The house was on multiple lots and had a creek on the grounds. The house was not selling because of one recurring objection: the entire house was on one level, except for the master suite, which required going down steps to enter.
It was an objection until someone asked the architect to explain this seemingly odd feature. He used the steps to put the bedroom close to the creek so a person could open the windows and go to sleep to the sound of a running stream. The marketing was changed to reflect this insight, and the home quickly sold.
Story ads are low-key, but they deeply plant a sales message with consumers searching for unique homes.
Another example is a waterfront home that was not selling. The other houses on this waterfront street were perpendicular to the street, but this house was turned at an odd angle and did not look symmetrical. Then the builder explained what happened the first time he walked the vacant lot.
He noticed the lot was uniquely positioned where the lake made a sweeping turn. He realized that a V-shaped footprint, turned at just the right angle, would yield a long, booming view that spanned the length of the lake instead of merely looking across to the other side. This served as proof the home had the best view on the lake. When this story was used, the home received multiple, full-priced contracts.
Here’s an example ad that grabs a person’s attention with the unique element positioned in the headline:
(Click the image to download a PDF of the full ad example)
Builders and architects have a gift for visualizing in beautiful detail what the average person sees as a blank screen. The best way to describe this vision is to put it into the format of a narrative story.
Not selling a “new” home? Fine. Sellers will give similar unique details of their favorite part of their home, if you get them talking.
#4: Strongest benefit goes in the headline
Five times as many people read the headline as they do the body copy, so put the most powerful promise in the headline.
As an example, a builder and his agent were frustrated by the lack of a sale on a perfectly good waterfront home. As often is the case, they were in competition with many other waterfront houses. A quick look at their marketing revealed the problem. What really made the house stand out was the size of the lot — this one was 12 acres — almost unheard of for a lake lot. But this fact was buried on page two of the flyer. The ad was rewritten to include this fact in the headline, in bold print, resulting in a sale in less than six weeks.
WARNING: You have to be careful. If a home has a view, don’t make this the theme of an ad IF many competing properties can match this claim. The rule is to put the home’s best claim — the one that others cannot easily match — in the headline.
#5: Give details that allow consumers to self-screen
Real estate agents love to withhold key facts like price, address or square footage to motivate a call. You do get more calls, but not more serious buyers. Ads work best when all of this key information is disclosed. Doing so attracts qualified inquiries. Also, provide a floor plan, site plan and locator map. Then you’ll know when you get a call, it’s because the person is truly interested and you won’t waste your time showing the property to lookee-loo’s.
#6: Think like a professional
This arguably comes at the beginning of the process of writing a great homes ad. But I’ve included it as my last tip, because I want you to REMEMBER to think of marketing as an investment.
Just for a moment, pretend there is a new reality show in which contestants compete to see who gets a chance to oversee the next issue of a Victoria’s Secret catalog. How long would the contestant last if he announced: “The quality of the merchandise is inherent in the lingerie itself, and everyone knows Victoria’s Secret makes a quality product. So, to save some money, I refuse to hire professional models or photographers. Some of the women here at the loading dock have agreed to model the underwear, and a friend of mine is pretty good with a camera. Also, my neighborhood QwikCopy will handle the printing because it is having a sale on lime-green paper.”
Does this reasoning sound absurd? It is, and unfortunately too often, builders compete to spend $400,000 on a lot to build a $1.5 million house only to refuse to spend $5,000 to market the finished home. For goodness sake, have the home professionally photographed and printed, on nice paper. It is not unreasonable to earmark 1 to 1.5 percent of the sales price for the marketing of a home.
The same is true of your typical seller who refuses to spend $1,000 on an ad to will sell their home in less than month. They’ll regret that mistake when they lower their price by at least $1,000 because their home is still on the market. It’s your job to sell homes, but also to educate sellers on how you’ll sell their home faster by using professional marketing.
[Ed note: Copyright Stan Barron. Reprinted with permission. If you, or someone you know wants to sell a house, please give Stan a call at 512-345-8585.]
Whenever a client of yours moves, we all know the one thing they must do: Change their address.
This presents a HUGE opportunity for you to help them with this chore and accumulate a lot of names on your database.
Here’s a quick and easy strategy to WOW your clients and build your business by sending out “Change of Address Post Cards”.
Linda Denovan, a Top Agent from Lake Havasu City, AZ, understands the relationship-building power of this strategy first hand:
“As a closing gift for my buyers I create a note card with a photo of the front of their new home. I make return address labels for the envelopes and add stamps.
On the back of the note cards is printed “Made especially for …. from Linda Denovan” with MY phone number.
My information then goes out to all of their friends when they mail the cards showing off their new home. In addition, I let them know they can “re-supply” their note cards or return address labels at any time. Not only does it make a great gift but my clients think of me whenever they send a card AND the recipient does too!”
Let’s take Linda’s idea and “kick it up a notch”…
How To Use The “Change of Address
Post Card System” To
Clone Your Best Clients…
This strategy leverages off the TRUST your buyers have with their contacts so your mail is seen in a more positive light than when you farm for clients. And if you liked working with your buyers, chances are their friends will be great clients too.
Studies show that people make friends and tend to associate with others just like them. So this is a laser-targeted approach to cloning your best clients. If you didn’t enjoy working with a client, this strategy can still work to find the “gems” out there who are ready to buy or sell.
Here’s how to execute this viral list-building system…
STEP 1: Get a great PHOTO of the home
Linda sends out note cards in envelopes but I’d suggest sending out a post card with an eye-catching photo of the home on the one side and the new address on the other.
If you really want to impress your clients, make it an outstanding photo. Why?
Because it does TWO things: First, it shows you care enough to continue to provide great service after the transaction (your clients will remember this and tell others). And two, it demonstrates your skill at getting a great photo of a home. This is a subtle way to have your buyers think of YOU when it’s time for them or their friends to sell their home.
If you’re strapped for time you could use an image of a house, with a headline, “We Moved.” But remember, buyers want to show off their new home, not just their new address…so try to make it look good.
STEP 2: Make a great OFFER
Having your name and number on the cards will help you give you an “introduction” to your clients’ friends. But an even better approach is to include an OFFER for free information on the card so you can maximize your opportunity for business from this strategy. What could you offer?
A FREE market analysis for SELLERS
A FREE list of homes for BUYERS
A FREE report for “Saving Thousands When Buying A Home”
The possibilities are limitless…
STEP 3: MAIL the post cards
You’re best bet is to mail the post cards FOR your clients, this way you know they’ll get out. And it gives you a reason to ask for the names and addresses of their contacts (which by the way you can use to start sending their friends your helpful and informative Service For Life issue every month).
Or, you can give a stack of the post cards to your clients. One bit of advice: make it easy for them to send it out by putting the stamp on the cards for them. They’ll appreciate it and more importantly… the post cards are more likely to get in the mail so your offer gets seen.
Want an EXAMPLE post card?
OK, here’s a “Change Of Address Post Card” a number of agents are using with great success, along with my notes on what makes a great “direct response” post card.
ANATOMY Of A “Change of Address Post Card ”
(Note: click the image and zoom in to see the detail)
QUESTION: Can you e-mail the “Change of Address” notice? Yes, but with a few important caveats…
Your buyer needs to send the email so their friends recognize the “From Name.” Or, if you send the email to their contacts…include your buyer’s name in the “subject line” of the email so it gets opened and read.
Still include a great photo of the new home in the email. Use a system that can produce full-color HTML emails with the photo, new address, and your offer…or have a link to your website with the picture and this information.
You could email AND mail these notices to your buyer’s contacts. Chances are they can easily send a mass email, so printing and mailing the physical post cards will be seen as a more valuable service to them. And your offer will be seen by more people if sent by mail.
After a few weeks, ask your clients if they got the post cards in the mail and if they need any more printed, or ask them if the emails were sent. Then continue to follow-up with your clients and their contacts (if you have their mailing/email addresses) with a monthly real estate newsletter that is not all about real estate – so it’s welcomed and valued instead of trashed.
[Ed note: This article is a small excerpt from the "Fast-Track to Success" Turn-Key Real Estate Business Building System. To learn more click here.]
