How do you ๐ your #clientexperience? HINT: it probably isnโt some paradigm-shifting, comprehensive process or program. To the contrary, itโs more likely bite-sized, modest improvements that, when added together, tally up to more than the sum of the parts (paraphrasing Aristotle ๐ง). Stuff like:
โA better means of managing and replying to client communications (e.g. email, texts, DMs, et al.)
โClear(er) direction about upcoming steps of a transaction
โAccess to resources and FAQs concerning all-things real estate (e.g. โHow to ____โ or โWhen to ____โ)
The Natโl Association of REALTORSยฎ reported that 91% of buyers, for instance, claimed theyโd 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, itโs ๐๐๐๐๐๐-๐๐๐-๐๐๐๐ or bust!
Whatโs more, the cost of generating a new client far exceeds the cost (and profitability) of producing repeat and referral business. Itโs not that Iโm warning against lead generation (not at all!). Itโs 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 ๐
โ๏ธ Rising cost of materials ๐(e.g. lumber, paint, et al.)
โ๏ธ Feverish ๐ฅต levels of buyer demand
โ๏ธ Multiple-offer โmayhemโ (and, consequently, rapidly appreciating home prices ๐ท)
โ๏ธ Super low mortgage interest rates (and what to expect)
โ๏ธ Generational buyer/seller shifts: multi-gen households, pet priorities ๐ถ, and more.
In todayโs #MarketingStream episode, Iโm joined by Dr. Jessica Lautz @jessica.lautz, Vice President of Demographics and Behavior Insights at the National Association of REALTORSยฎ @nardotrealtor โand weโre 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 ๐ฃ for your message. Itโs like Tom Fishburne said:
โThe best marketing doesnโt feel like marketing.โ
So if your message is out of context, itโll gonna fall flat. On the other hand, if it addresses a problem, a perception, or a desire of the consumer, itโll cut straight through the noise.
Grab your notes ๐ and strap in for ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐๐ถ๐ป๐ด ๐ฆ๐๐ฟ๐ฒ๐ฎ๐บ, ๐ฒ๐ฝ๐ถ๐๐ผ๐ฑ๐ฒ ๐ฌ๐ฌ๐ฒ.
Watch the full episode here: https://geni.us/cZ38D6 (LINK IN BIO)
แดสแด ๊ฐแดสส แดแดษช๊ฑแดแด
แด ษช๊ฑ แดแด แดษชสแดสสแด แดษด แดสแด๊ฑแด ๊ฑแดสแดแดแดษชษดษข แดสแดแด๊ฐแดสแด๊ฑ:
๐ฅ ๐ฌ๐ผ๐๐ง๐๐ฏ๐ฒ
๐ง ๐ฆ๐ฝ๐ผ๐๐ถ๐ณ๐
๐ ๐๐ฝ๐ฝ๐น๐ฒ
The 2021 Real Estate Market Explained: Everything You Need to Know
โ๏ธ The #realestate inventory crisis ๐
โ๏ธ Rising cost of materials ๐(e.g. lumber, paint, et al.)
โ๏ธ Feverish ๐ฅต levels of buyer demand
โ๏ธ Multiple-offer โmayhemโ (and, consequently, rapidly appreciating home prices ๐ท)
โ๏ธ Super low mortgage interest rates (and what to expect)
โ๏ธ Generational buyer/seller shifts: multi-gen households, pet priorities ๐ถ, and more.
In todayโs Marketing Stream episode, Iโm joined by Dr. Jessica Lautz, Vice President of Demographics and Behavior Insights at the National Association of REALTORSยฎ โ and weโre 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.
Itโs like Tom Fishburne said:
โThe best marketing doesnโt feel like marketing.โ
So if your message is out of context, itโll gonna fall flat. On the other hand, if it addresses a problem, a perception, or a desire of the consumer, itโll 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: itโs ๐ฆ๐ฎ๐ฅ๐ญ๐ข๐ฉ๐ฅ๐-๐จ๐๐๐๐ซ ๐ฆ๐๐ฒ๐ก๐๐ฆ out there!
- Listing inventory is (extremely) low.
- Buyer demand is off-the-charts.
- Ergo, the marketplace is pretty-darn merciless.
In todayโs livestream Iโm 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 ๐), and more.
If youโre tired of writing-up โ๏ธ loosing contracts, this is a conversation for you!
Win Multiple Offers (with a BUYER-AGENT Report Card)
๐๐๐๐๐ ๐๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐; ๐๐๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐
It seems like all the scripts & dialogues about winning multiple offers are one-sided, only telling buyers how ๐ต๐ฉ๐ฆ๐บ can make ๐ต๐ฉ๐ฆ๐ช๐ณ offers more attractive to sellers but never about how the agent can leverage ๐ต๐ฉ๐ฆ๐ช๐ณ reputation in the marketplace to increase the odds of an accepted offer.
ATTN. ๐ข๐ญ๐ญ buyer agents... TRY THIS:
Create a ๐๐๐๐๐๐ ๐๐๐๐
based on your past successes (or failures) as a buyer agent. Make charts and graphs to display the following data points:
1๏ธโฃ Closed ๐ out of ๐ buyer sides, past ๐ months
2๏ธโฃ Cancelled ๐ contracts out of ๐, past ๐ months, due to ๐ช๐ฏ๐ด๐ฑ๐ฆ๐ค๐ต๐ช๐ฐ๐ฏ, ๐ข๐ฑ๐ฑ๐ณ๐ข๐ช๐ด๐ข๐ญ, or ๐ง๐ช๐ฏ๐ข๐ฏ๐ค๐ช๐ฏ๐จ issues
3๏ธโฃ 5-star testimonials and/or quotes from listing agents of past transactions
โด๏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 ๐๐๐๐๐๐ ๐๐๐๐
? Leave a comment, please :D