Real Estate

Guide to Up Your Client Experience (P.S. it's all in the little things)

Photo by Jason Pantana in Nashville, (12).jpg

How do you ๐Ÿ†™ your #clientexperience? HINT: it probably isnโ€™t some paradigm-shifting, comprehensive process or program. To the contrary, itโ€™s more likely bite-sized, modest improvements that, when added together, tally up to more than the sum of the parts (paraphrasing Aristotle ๐Ÿง). Stuff like:

โˆ™A better means of managing and replying to client communications (e.g. email, texts, DMs, et al.)
โˆ™Clear(er) direction about upcoming steps of a transaction
โˆ™Access to resources and FAQs concerning all-things real estate (e.g. โ€œHow to ____โ€ or โ€œWhen to ____โ€)

The Natโ€™l Association of REALTORSยฎ reported that 91% of buyers, for instance, claimed theyโ€™d use their agent again (or recommend them). However, only 13% of buyers actually re-hired an agent. So evidently the client experience extends way, way beyond closing! In other words, itโ€™s ๐šŒ๐š•๐š’๐šŽ๐š—๐š-๐š๐š˜๐š›-๐š•๐š’๐š๐šŽ or bust!

Whatโ€™s more, the cost of generating a new client far exceeds the cost (and profitability) of producing repeat and referral business. Itโ€™s not that Iโ€™m warning against lead generation (not at all!). Itโ€™s just that repeat/referral business appreciates over time. Moreover, every past client becomes a multiplier of future business opportunities (i.e., repeats/referrals).

Bottom line: the best way to grow your business is to win the unwavering loyalty of every client, every time!

Explaining Today's Real Estate Market ft. Dr. Jessica Lautz


The 2021 real estate market explained... Here's everything you need to know

โ˜‘๏ธ The #realestate inventory crisis ๐Ÿ 
โ˜‘๏ธ Rising cost of materials ๐Ÿ—(e.g. lumber, paint, et al.)
โ˜‘๏ธ Feverish ๐Ÿฅต levels of buyer demand
โ˜‘๏ธ Multiple-offer โ€œmayhemโ€ (and, consequently, rapidly appreciating home prices ๐Ÿท)
โ˜‘๏ธ Super low mortgage interest rates (and what to expect)
โ˜‘๏ธ Generational buyer/seller shifts: multi-gen households, pet priorities ๐Ÿถ, and more.

In todayโ€™s #MarketingStream episode, Iโ€™m joined by Dr. Jessica Lautz @jessica.lautz, Vice President of Demographics and Behavior Insights at the National Association of REALTORSยฎ @nardotrealtor โ€”and weโ€™re taking on ALL OF THE ABOVE! Inventory, purchasing, new construction, and more!

End of the day, #marketing is all about crafting a message that connects/resonates with the consumer. In fact, your marketing is just the megaphone ๐Ÿ“ฃ for your message. Itโ€™s like Tom Fishburne said:

โ€œThe best marketing doesnโ€™t feel like marketing.โ€

So if your message is out of context, itโ€™ll gonna fall flat. On the other hand, if it addresses a problem, a perception, or a desire of the consumer, itโ€™ll cut straight through the noise.

Grab your notes ๐Ÿ“‹ and strap in for ๐— ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜๐—ถ๐—ป๐—ด ๐—ฆ๐˜๐—ฟ๐—ฒ๐—ฎ๐—บ, ๐—ฒ๐—ฝ๐—ถ๐˜€๐—ผ๐—ฑ๐—ฒ ๐Ÿฌ๐Ÿฌ๐Ÿฒ.

Watch the full episode here: https://geni.us/cZ38D6 (LINK IN BIO)

แด›สœแด‡ ๊œฐแดœสŸสŸ แด‡แด˜ษช๊œฑแดแด…แด‡ ษช๊œฑ แด€แด แด€ษชสŸแด€ส™สŸแด‡ แดษด แด›สœแด‡๊œฑแด‡ ๊œฑแด›ส€แด‡แด€แดษชษดษข แด˜สŸแด€แด›๊œฐแดส€แด๊œฑ:
๐Ÿ–ฅ ๐—ฌ๐—ผ๐˜‚๐—ง๐˜‚๐—ฏ๐—ฒ
๐ŸŽง ๐—ฆ๐—ฝ๐—ผ๐˜๐—ถ๐—ณ๐˜†
๐ŸŽ™ ๐—”๐—ฝ๐—ฝ๐—น๐—ฒ

The 2021 Real Estate Market Explained: Everything You Need to Know

โ˜‘๏ธ The #realestate inventory crisis ๐Ÿ 
โ˜‘๏ธ Rising cost of materials ๐Ÿ—(e.g. lumber, paint, et al.)
โ˜‘๏ธ Feverish ๐Ÿฅต levels of buyer demand
โ˜‘๏ธ Multiple-offer โ€œmayhemโ€ (and, consequently, rapidly appreciating home prices ๐Ÿท)
โ˜‘๏ธ Super low mortgage interest rates (and what to expect)
โ˜‘๏ธ Generational buyer/seller shifts: multi-gen households, pet priorities ๐Ÿถ, and more.

In todayโ€™s Marketing Stream episode, Iโ€™m joined by Dr. Jessica Lautz, Vice President of Demographics and Behavior Insights at the National Association of REALTORSยฎ โ€” and weโ€™re taking about everything you need to know about today's real estate market. Inventory, purchasing, new construction, and more!

End of the day, marketing is all about crafting a message that connects/resonates with the consumer. In fact, your marketing is just the megaphone for your message.

Itโ€™s like Tom Fishburne said:

โ€œThe best marketing doesnโ€™t feel like marketing.โ€

So if your message is out of context, itโ€™ll gonna fall flat. On the other hand, if it addresses a problem, a perception, or a desire of the consumer, itโ€™ll cut straight through the noise.

Grab your notes and strap in for Marketing Stream Episode 006!

In today's discussion:

0:00 - Intro
2:42 - Introduction of Dr. Jessica Lautz
3:58 - Inventory Shortage in Various Market Places
7:20 - The Relationship Between Affordability and Inventory
8:45 - What would you tell a buyer that is competing against cash offers?
9:46 - What direction is the real estate market headed towards?
13:19 - Are there more buyers, less inventory or a mixture of both?
18:27 - What caused the housing supply shortage?
24:39 - How should agents be communicating with their customer base?
26:18 - What has changed with consumers and housing?
28:00 - How much of a birth-rate decline have we had?
29:23 - Did the pandemic cause a premium per square foot?
32:37 - Buyers Looking for Multi-generational Homes
34:49 - Outro

Strategies to Win Multiple Offers in Current Real Estate Market

In case anyone missed the memo: itโ€™s ๐ฆ๐ฎ๐ฅ๐ญ๐ข๐ฉ๐ฅ๐ž-๐จ๐Ÿ๐Ÿ๐ž๐ซ ๐ฆ๐š๐ฒ๐ก๐ž๐ฆ out there!

- Listing inventory is (extremely) low.
- Buyer demand is off-the-charts.
- Ergo, the marketplace is pretty-darn merciless.

In todayโ€™s livestream Iโ€™m joined by @brianscates (Minneapolis, MN) and @liveplaylovehalifax (Halifax, NS) to talk through tactics and strategies to win the contract: advising/prepping buyers, purchase-offer hacks, agent-to-agent scripts (and schemes ๐Ÿ˜‰), and more.

If youโ€™re tired of writing-up โœ๏ธ loosing contracts, this is a conversation for you!

Win Multiple Offers (with a BUYER-AGENT Report Card)

๐๐”๐˜๐„๐‘ ๐€๐†๐„๐๐“ ๐‘๐„๐๐Ž๐‘๐“ ๐‚๐€๐‘๐ƒ; ๐™’๐™„๐™‰ ๐™ˆ๐™๐™‡๐™๐™„๐™‹๐™‡๐™€ ๐™Š๐™๐™๐™€๐™๐™Ž

It seems like all the scripts & dialogues about winning multiple offers are one-sided, only telling buyers how ๐˜ต๐˜ฉ๐˜ฆ๐˜บ can make ๐˜ต๐˜ฉ๐˜ฆ๐˜ช๐˜ณ offers more attractive to sellers but never about how the agent can leverage ๐˜ต๐˜ฉ๐˜ฆ๐˜ช๐˜ณ reputation in the marketplace to increase the odds of an accepted offer.

ATTN. ๐˜ข๐˜ญ๐˜ญ buyer agents... TRY THIS:

Create a ๐’“๐’†๐’‘๐’๐’“๐’• ๐’„๐’‚๐’“๐’… based on your past successes (or failures) as a buyer agent. Make charts and graphs to display the following data points:

1๏ธโƒฃ Closed ๐— out of ๐˜ buyer sides, past ๐™ months
2๏ธโƒฃ Cancelled ๐— contracts out of ๐˜, past ๐™ months, due to ๐˜ช๐˜ฏ๐˜ด๐˜ฑ๐˜ฆ๐˜ค๐˜ต๐˜ช๐˜ฐ๐˜ฏ, ๐˜ข๐˜ฑ๐˜ฑ๐˜ณ๐˜ข๐˜ช๐˜ด๐˜ข๐˜ญ, or ๐˜ง๐˜ช๐˜ฏ๐˜ข๐˜ฏ๐˜ค๐˜ช๐˜ฏ๐˜จ issues
3๏ธโƒฃ 5-star testimonials and/or quotes from listing agents of past transactions
โœด๏ธ For extra credit, make a video for the listing agent and seller(s) explaining your due-diligence process to mitigate transactional complications

Remember, a seller may receive dozens of offers, but the only offer worth a penny is the one that closes. Work to position your buyers as the surest bet!

P.S. What else should go in the ๐’“๐’†๐’‘๐’๐’“๐’• ๐’„๐’‚๐’“๐’…? Leave a comment, please :D