Archive for September, 2007
eAgent Introduces a New Forum
· CommentsYou’re probably aware of eAgent. According to their own description, the company is a marketing firm for residential real estate agents. But, this post isn’t really about eAgent, except to say that their online marketing does drive a good number of consumers to their website.
A New Way to Increase Your Internet Exposure
The interesting thing is that the company has very recently added a Forum to their website. It will be interesting to see how the online community responds. Right now, there isn’t a lot of chatting on the forum, but they do have 540 users.
The forum is set up geographically, with categories for the major cities across the US and some in Canada. The idea is that consumers and real estate professionals can participate in the forum to “discuss everything real estate related”. And, you don’t have to be an eAgent customer to join the forum.
If the traffic on the forum really takes off, it could be a good way to get some additional exposure on the Internet.
eAgent customers are identified with an icon on their posts, but if you’re not a customer, keep in mind that the Username you choose should reflect the fact that you are an agent. That way, it will be obvious that you’re there in an expert capacity, not another consumer trying to be helpful.
When you register, you also have the opportunity to add a bio, web address, blog address, and an RSS feed - using the feed from your blog would be a good idea.
Certainly, it’s too soon to tell how effective this forum will be in connecting consumers and real estate professionals, but it would be a good thing to keep an eye on!
How to Help Your Clients During Negotiation
· CommentsNegotiating Is Stressful
Negotiating the sale of a home can often be more stressful than other types of negotiations because a home is a very personal item, for both buyers and sellers. Keeping your cool as the objective outsider is one challenge. The other is keeping your clients focused.
Here’s Some Information That Can Help
Let your clients know that, according to the experts, even people who consider themselves to be expert negotiators frequently accept a deal too quickly. Staying calm, knowing your alternatives and being sure of the market value can all contribute to a winning negotiation for both sides.
As the expert in the transaction, you can make sure your clients know exactly what their alternatives are if a particular negotiation doesn’t result in a contract. You also have the opportunity to use tools like real estate market statistics to make sure you and your client know exactly how much leeway you have in terms of the price issue.
Being the cool head in the negotiation will be much easier when your client has complete faith, not only in you, but in the process itself.
A high school teacher took his class on a field trip to the library. As he was waxing eloquent about all the great things about libraries, books and reading, one of his students asked a question.
Pointing to a long shelf of thick books all of a similar design, the student asked the teacher what that could possibly be. The teacher replied, “That’s the Encyclopedia Brittanica.”
The student turned to his instructor with a look of disgusted amazement on his face, and said, “You mean somebody actually printed it all out?!?!?”
For me, that’s right up there with the question, “Was Paul McCartney in a group before Wings?”
According to Rismedia, and as reported in REALTOR® Magazine Online, buyers and sellers are demanding more service from the real estate professionals they choose to work with.
As your clients get busier, they want assistance in each stage of the real estate transaction, including finding the right mortgage, title insurance, appraisers, and so forth. You, like many real estate professionals, may be providing this type of support already. The question is: Are you making the most of that fact in your marketing?
If you’ve established a brand, is your one-stop shop approach part of your real estate brand definition? If not, this would be a great time to update your value proposition!
Related Reading:
Slow Markets Make for Nervous Buyers and Sellers
Slow markets make everyone nervous. Sellers are afraid their homes won’t sell, or go slightly batty trying to hold out for an unrealistic price. Buyers are afraid their new home will depreciate the minute they sign the closing papers, and at times they have so many choices, they often take forever to make a decision.
What can you do to help counteract these problems? Give your clients facts they can use to set realistic expectations and to make decisions with confidence! For example, what if you could easily do the following types of things:
- Help your buyers choose neighborhoods by showing them which neighborhoods have a history of increasing appreciation, or those where prices have bottomed-out and are starting to rebound.
- Help your sellers stick with a marketing plan based on a clear understanding of typical days-on-market and price trends in their neighborhood.
You may be thinking: “Sure, that would be great if I had all day to compile statistics and make pretty charts!!”
Altos Research to the Rescue!
Luckily, you don’t have to buy an eyeshade and sleeve protectors. Altos Research is doing the work for you:
“Altos Research has developed a unique technology platform that gathers real estate data, analyzes it in real time and creates analytical reports for local markets. The patent-pending system gives you a snapshot of important trends in today’s market: prices, supply and demand, and insight into where the market is heading.”
The market information Altos Research provides is updated weekly. You can’t get more current than that. If there’s a change in your marketplace, you’ll be the first to know about it and respond to it, leaving your competitors in the dust.
And, with the power of the market information behind you, you’ll make a big impression on your prospects, before they’ve even met you!
You can get an overview of the type of market information that is available by reviewing the Altos website page geared for consumers. Then, check out the information for REALTORS®. You’ll have access to information:
- For Your Website: Charts that can be easily added to your website with no coding knowledge required. These charts are “live”, meaning that they update every Monday right on your website.
- For Your Clients: Multi-page reports are available in PDF format so that you can e-mail them, or print out hardcopies to distribute. The reports are branded with your photo and/or logo and contact information, and they include analysis notes in addition to the chart data.
Pricing for access to the market statistics vary depending on the coverage area. As of this date, pricing ranges from $19/month to $150/month and up. The service is not available nationwide - yet. Areas are being added regularly, so even if you don’t see your market listed in the coverage areas, be sure to call to verify availability.
4 Great Reasons to Become a More Knowledgeable Market Expert!
- Increasing the stickiness of your website. What better way to motivate people to return to your site than displaying valuable information that updates weekly?
- Improving your competitive edge. Offering this type of in-depth market information will quickly peg you a step above your competitors.
- Strengthening your negotiating position. Whether you’re working with buyers or sellers, you’ll have solid information to backup your negotiating position. In fact, you might just leave your counterpart in the transaction with their mouth hanging open.
- Offering better service to your clients. To me, this information isn’t just unique website content or a great marketing tool. I think you’ll see your market area in a completely different light, and you’ll be able to give your clients more valuable advice than ever before!
