Real Estate Results Newsletter
AUGUST, 2007
Welcome to the August edition of the Real Estate Results Newsletter. In this month’s newsletter:
 Use the Sub-Prime Fiasco to Reinforce Your Value as a REALTOR®
According to the Associated Press, and as reported by NAR, nearly 2,000,000 mortgages will have a rate adjustment this fall, which is anticipated to cause huge increases in home foreclosures.
Talking about how you might want to respond to this situation is not my area of expertise. However, depending on how many homeowners in your area might be in trouble, this might be a good time to brush up on Reinstatement, Forbearance, Short Sales, etc. As a real estate consultant, providing information on how to avoid foreclosure will help to establish you as a counselor, not just a sales person.
It’s also a good time to reinforce the fact that REALTORS® are just as concerned as their clients about people ending up in trouble with their mortgages. This Sub-Prime information page at REALTOR.org has some great links to help you explain the situation, and what the NAR is doing to support legislation that will control deceptive lending practices.
There are links on that page to consumer education pages that would be helpful to your clients. And, you can also get several educational brochures that will help homeowners understand today’s financing options. PDF files can be downloaded for free, and printed brochures are available through the REALTOR.com store.
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 Introducing Yourself: The Key to Turning Acquaintances into Clients
Introducing yourself. It’s something you do every day. But, have you ever thought about how you introduce yourself? how you could make your introduction more effective?
There’s a great article at Realty Times about mistakes to avoid when people ask what you do for a living. It’s really your opportunity to make a lasting impression, so make sure it’s a good one!
Some people create something that is often called an “elevator speech” because it’s a concise explanation of what you do that you could use effectively in the amount of time it takes to ride in an elevator.
This is also a great time to use your brand definition. You do have a brand, don’t you? Take a look at this example of making your real estate brand come alive when you explain what you do. This sample assumes that you’re talking to a friend, and that the conversation would flow without necessarily asking questions.
But, I agree with the author on Realty Times that asking a question is a great conversation starter. The objective of both examples is for you to engage the person you’re talking to, not just give them a lecture.
If you don’t have an effective way to introduce your business, you’re losing clients!
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 Using Your Website to Increase Direct Mail Response
Many agents I speak with are very frustrated with the response to the direct mail postcards they send out to their farm areas. And, in fact, many savvy agents are moving more of their budget to Internet marketing, and doing less print marketing.
But, if you want to make direct mail work, what’s the best way to accomplish that? The answer: set up “irresistable offers” on your website. While you’re doing that, you’ll improve the lead generating capability of your website, too!
Why send postcards to get people to visit your website? Because it’s a 24/7 marketing partner. And, because people in your farm area are much more likely to visit your website than they are to call you in person. There are various levels of website promotion:
- There’s the agent that includes their web address with the contact information on a postcard. This will not get people to visit your site.
- There are agents that include a call to action on their direct mail pieces. Usually this takes the form of: “Visit my website for all your real estate needs”. This might get a few people to visit your site, but I doubt it.
- There are some agents who place an offer a home buyer or seller can’t refuse on their websites, and then include a call to action on their direct mail. Something like: “Visit www.mywebsite.com to get your free Neighborhood Discount Coupon Book!”
So, how do you construct one of these offers that your prospects just can’t refuse? Check out this article by Michael Russer, who as far as I know, invented the phrase “irresistable offer”. Then, go out there and make up one of your own!
By the way - Don’t forget to check out the link to Blog Action Day above- thousands of voices talking about the same issue on the same day. It just might make a difference!
Until next month...
Kathleen Allardyce
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