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Connect with foreclosure buyers on Craigslist

Posted by Anne-Marie McReynolds on Wed, Jul 02, 2008
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 Download FREE information-packed Podcast (1 minute and 49 seconds) and capture more leads on Craigslist.

 

Advertising on Craigslist requires smarmy headlines that bait attention-deficit buyers to stop, look and click.

So why bother listing on a never-ending scroll of regional classifieds?\ Two words: instantaneous response.

"In one weekend, I posted two open house ads for two properties and got 300 visits back to the client's site," John Pruitt, PropertyMinder iMarketing Consultant, says.

Craigslist patrons are diehard bargain hunters. Chances are, they're not working with a REALTOR®. And foreclosured properties are real estate deals (or steals) in a buyer's market.

Capitalizing on this frenzy (and increasing your bottom line) requires aggressive ad display. Lure visitors back to your real estate website with pictures. "If a prospect wants property specs, he'll have to click on links in your ad," Pruitt says.

The goal is to drive Internet consumers back to the your PropertyMinder website. More traffic increases search engine results rankings on Google, Yahoo! and MSN.

What works: aggressive display with a strong call to action.

Red headlines, yellow highlighting, writing in all caps (i.e. shouting) are all tricks of the trade that succeed in grabbing a prospect and focusing his attention on what you have to offer.

It’s easy to make fun of these ads, but they’re widely used because they can convince visitors to take action. Tabloid headlines arrest our attention, if only for sensationalism.

Just ask Jeffrey DeJesus of RE/MAX Westlake Investments: "My website traffic has increased from 100 to 1,000 visitors per day -- with only 12 listings on Craigslist." DeJesus, a long-time PropertyMinder client, specializes in auctions, bank owned properties, foreclosures and shortsales.

Fact: Pitching like a used-car salesman increases click-through rate.

Loss-leader advertising

Have you seen those ads in for properties that are listed for well below what you'd expect to pay? For example, "$105000 Bank Foreclosures (Hayward/Castro Valley)." The ad, though, features four pictures of different properties. Of note, the advertiser concealed the exact location and details of each individual property.

And for $105,000, there's zero 'pix appeal'. But agents aren't necessarily trying to sell these fixer-uppers (to be polite). It's the 'ol bait-and-switch scheme....

With no info, a visitor must contact the REALTOR® directly (or visit their real estate website). Once on an agent's website, potential buyers are more than likely to click-through various properties (or do an integrated MLS search). Bingo!  PropertyMinder collects and stores data about all client activities. This technology gauges buyer motivation. A broker can then suggest relevant listings that match their search criteria.

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Are you marketing to your referral base 100%?

Posted by Anne-Marie McReynolds on Fri, Jun 27, 2008
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How do you invest your most valuable asset—time?  What's the ROI? 

Cost-cutting is a mindset for bootstrapping REALTORS®. Gone is the day of diversifying advertising with no analytics. Re-thinking your real estate marketing strategy means eliminating expensive traditional practices (i.e. direct mail) that give you a 2 percent response rate. 

Make no mistake, REALTORS® are entrepreneurs. To make a net income in real estate, your marketing costs must be under 7 percent.  As a self-employed salesperson, your livelihood depends upon your ability to close a deal.

Having a startup mentality means identifying the right people and working to earn their trust and permission. "Earn the right to send them a newsletter or a regular update or a subscription to your blog. NOT talk about what matters to you, but to give them information (real information, not just data) that matters to them," says Seth Godin, bestselling author of "Permission Marketing."

The upside: Permission is priceless.  

"The experienced professionals get most of their business from people who have done business with them already," says Patricia Kennedy, author of The Irreverent Guide to Real Estate.

"Because the lender or agent did a superb job, every time the client hears the word 'move' or 'real estate,' they think of their professionals like you think of Kleenex when you're about to sneeze."

Who's who

Your contact base can be divided into three groups:
  1. A-list
    Clients who have given you a referral at some point in your relationship.
  2. B-list
    Clients who have done business with you but haven't referred you.
  3. C-list
    Contacts who haven't done any business with you yet.
Every prospect counts, but not all clients are equal.  By rewarding loyalty, an agent can earn more referrals. Get off the D-list!  Don't waste your time blogging on the World Wide Web when your sphere of influence promises a better rate on return.

Rewards Points

When it comes to the A-list, communications can't be automated. Leverage your personal relationship to provide buzzworthy information.  This communication, however, must be anticipated and relevant. Give them a selfish-reason to respond. For example, share any exclusive deals or special offers with your top tier clientele (e.g. tickets to sporting events, concerts and amusement parks; reservations at a new restaurant, discounted hotel stays and deals on family vacation packages). Think creatively. 

Bottom line: word of mouth puts you in demand.

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Does your website get less than 300 hits a month?

Posted by Anne-Marie McReynolds on Tue, Jun 24, 2008
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At least 40 percent of real estate websites generate 250 hits per month. The average Realtor® website gets 450 hits, according to a recent survey of PropertyMinder clients with AccelerAgent sites.

PropertyMinder announced today an intensive personal training program for real estate professionals.  The technology-marketing (TECH-MAR) clinic helps agents achieve a winning online presence and become home marketing experts in five weeks.  Download a free TECH-MAR catalog.

In 2003, PropertyMinder started offering the Fast Track Coaching Program exclusively to its clients. With training, agents captured 20 percent of site visitors as qualified leads. Based on best practices, TECH-MAR helps agents take advantage of Web 2.0 Internet marketing techniques and profit from online buyer trends.

Designed for new users, this cost-effective program shows real estate professionals how to optimize their websites for search engines and generate traffic to their lead capturing sites by adding a real estate blog and building online social networks.

TECH-MAR courses help agents re-think their Internet marketing strategy, eliminate costly traditional marketing practices, and gain competitive advantage. By harnessing the power of client tracking technology, a broker can provide an Internet buyer with specific information of great value to the customer and close more sales.

As an industry innovator, PropertyMinder has already helped more than 30,000 real estate agents and mortgage brokers leverage new technologies to secure success in an ever-changing market. TECH-MAR clinic instructors are Internet marketing specialists who have studied the impact of technology on real estate.

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Get benefits of a real estate blog without blogging

Posted by Anne-Marie McReynolds on Wed, Jun 18, 2008
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Real estate is a face-to-face business. You're not selling a product, per se; you're selling your services. So how do you build rapport online and turn a stranger into a lifetime customer?

In an automation era, replete with automated follow-up campaigns, people long for personal attention and authentic communication. That's the point of need.

Rethinking real estate websites, a blog is a conversation starter.

Like any exchange, there's the requisite give and take. As interest ensues, quality interactions lead to personal relationships. Recognizing the value of these relationships is essential to your business.

By frequently providing quality content, a REALTOR® gains credibility. The blog platform gives an agent a channel to market her greater knowledge base. Since potential clients prefer doing business with agents they "know" and respect as experts, blogging agents generate more leads than non-blogging competitors.

Know your target audience

For 40-plus consumers, blogging does not yield the same ROI. "They are not yet embracing social networking or blogs, despite what recent hype would suggest," according to a survey by ThirdAge and JWTBOOM.

"This audience values word-of-mouth recommendations, expert opinions, trusted brands and privacy online."

What's more, "boomers...are interested in connecting and interacting with others in their community around shared interests and common life experiences."

Niche Marketing

Seniors Real Estate Specialists® best target the midlife market. REALTORS® "counsel clients age 50-plus through major financial and lifestyle transitions involved in relocating, refinancing, or selling the family home."

Following suit, capitalize on your ability to provide a unique service that is of great value to the customer; go after a niche market and minimize short-term competition.

To increase brand awareness online, develop a relationship with influential bloggers in your niche market and post a comment on their websites. By including a link to your real estate website in your comment, you automatically drive traffic back to your site. A relevant and informative comment can be as little as 140 characters and still have the desired effect.

Proactively building quality backlinks is an effective alternative to blogging.

Location, Location, Location

Think hyper-local. Type in the following phrase in Google's search: "your city real estate blogs" (i.e. "San Jose real estate blogs"). Frequently posting comments on the resulting blogs will increase your online presence.

Reach new customers by also listing yourself in local search engines, such as Google Local and Google Maps and YellowPages.com.

Although some of these sites cost money (e.g. Yahoo! Directories and Business.com), this annual fee maintains the quality of the directory and helps legitimate businesses like yours get found.

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How to nurture real estate leads on and offline

Posted by Anne-Marie McReynolds on Wed, Jun 18, 2008
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So a prospect clicks through your website and views a few properties.

Your PropertyMinder site automatically captures his name and e-mail. What does your follow-up campaign look like? An automated message perhaps?

In an attention deficit marketplace, response time matters – but not as much as what you say and do next. Leverage client tracking technology to turn a cold call into a warm call.

Lead Intelligence

Internet buyers are “informed, anonymous and in control,” according to REALTOR® Magazine.

They spend an average of 4.8 weeks investigating homes and neighborhoods before contacting an agent, according to the CALIFORNIA ASSOCIATION OF REALTORS®.

“They’ve already done basic research and need a salesperson who can take the relationship to the next level,” REALTOR® Magazine says.

PropertyMinder collects and stores data about all client activities. This technology gauges buyer motivation. A broker can then suggest relevant listings that match their search criteria.
With Client Analyzer, PropertyMinder extends its client tracking capability. This tool can interpret and display client activity in an easy-to-read graph.

Following up with relevant material that your prospects value can move real estate leads up the permission ladder, converting prospects to clients to lifelong customers. As trust grows, profits grow. Agents selling to Internet buyers are likely to work only 2.2 weeks with a buyer before selling a property (vs. 7.1 weeks traditionally).

Target Prime Prospects

Traditional marketing starts with collecting phone numbers of potential prospects. Internet marketing begins with collecting their e-mail addresses.

Visitors are more likely to share their e-mail address in exchange for valuable information or discounts.For example, buyers tend to respond positively to Multiple Listing Service (MLS) updates via e-mail, and most homeowners appreciate knowing which homes are selling in their neighborhood and for what price.

To attract prime potential prospects -- those who have lived in the same home for more than five years, an agent must anticipate homeowners' needs. By becoming the local maven of home maintenance (i.e. contractors, landscapers, inspectors, etc.), an agent can build relationships and earn referrals.

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Maximize your 'pix appeal' and profits

Posted by Anne-Marie McReynolds on Thu, Jun 12, 2008
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120 Green Street, Santa Cruz, CA

If a picture is worth 1,000 words, then save your breath and show me. Don’t tell me.

A property’s “pix appeal” or attractiveness in photos posted in online listings, lures buyers and drives sales. “The photos are the most important thing,” says Linda Charman, broker/owner of Vanguard Realtors in Santa Cruz, Calif.

“I do not post a listing without 9 pictures.”

Charman, who hires a professional photographer, posts the maximum number of photos on PropertyMinder. “Savvy agents realize that quality visual content, like professional photography, reaps a much higher return on marketing investments," according to a survey by VHT, Inc., a provider of visual marketing services.

Tell a story

To capture leads, an advertisement needs to transform a house into a home. Storytelling pictures help depict a resident’s lifestyle.

Take 120GreenSt.com as case in point. 25 photographs illustrate the amenities of a four bedroom/three bath estate with separate guest quarters. The photographer walks the viewer through the home – varying her composition and point of view. This effect causes site visitors to linger.

“ The more you have to look at, the longer they stay on your site,” Charman says.

120GreenSt.com could go even farther in its storytelling. In addition to a map, panoramic photos of cross streets give buyers a sense of place and an entry point into the community.

Photo essay

The following shot list includes the kinds of pictures necessary to showcase a property and win listings.

  1. Overall: A wide angle or aerial photograph that establishes a scene.
  2. Detail: A close-up shot.
  3. Sequence: A series of photographs with a beginning, middle and end. In the example of 120GreenSt.com, a sequence of pictures from the point of view of a visitor touring the property helps direct the user experience.
  4. Signature: An image that features an amenity or asset of property.

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How to put RSS feed on your site

Posted by Anne-Marie McReynolds on Mon, Jun 09, 2008
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This tutorial will show you how to setup an automatic RSS Google NewsFeed.

Please click here to visit the Google page and customize automatically updated feeds.

1. Select whether you would like to have your feeds displayed horizontally or vertically.

2. Enter in the keywords that you would like to search for.

3. Select Preview to see a list of matching sites.

 

Select Generate Code when you are finished.

You will now need to copy the entire code from the Google page and paste it into your HTML editor.

4. From your HTML editor, save as a HTML file and save to your desktop.

5. Login to your Realtor Toolkit and go to the Website Editor.

6. Scroll down until you see the Custom Files Manager.


7. Under the Main Folder, select Browse to find the HTML file that you just saved on your computer and select Add that file into your Custom Files Manager.

8. You will now see the HTML file under your Main Folder. Select Get URL for that file.

9. Copy the URL and go to the Your Links section of the site.

10. In the first box, enter in the order that you would like your new link to show on your homepage. In the middle box, enter the display name of the link on your homepage. In the last box, paste the URL that you just copied.

Scroll down to the bottom of the page and hit Submit.

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Agents and Realtors: What's your job?

Posted by Anne-Marie McReynolds on Thu, Jun 05, 2008
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PropertyMinder is proud to have served Linda Charman and Vanguard Realtors for over five years. We design virtual office websites to meet the needs of REALTORS®. Our Internet marketing tools help her work smarter and faster – giving Charman more time to build lasting relationships with clients.
“You have to prove your value to a client,” says Linda Charman, broker/owner of Vanguard Realtors in Santa Cruz, Calif.

A role model for a staff of 20 full-time agents, Charman inspires confidence in a low-trust era.

Winning listings and moving properties requires transparency. As Broker of Record, Charman's best known for mastering organizational flow. “In a county with only 74 sales in April, we had six transactions,” she says. The average price of a single-family home that month was $710,742, according to the Santa Cruz Association of REALTORS®.

Buyer power

During a soft market, one-on-one coaching helps maximize buyer power. “It’s like training for a marathon,” Charman says. “If you’re physically and mentally fit, the whole process is easy."

In the beginning, Charman reviews the entire Buyer Agent contract –- all 10 pages -- with clients “and waits for questions. In the heat of an offer, people are not paying attention,” she says.

“And I never put anyone in my car unless they’ve been pre-approved by a lender.”

Charman believes it’s her job to make sure buyers are qualified. She even goes as far as to teach buyers how to write a "really clean offer letter."

“What good are agents ... if they don’t get you to the finish line?"
Linda Charman is featured this month in REALTOR® magazine.

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5 Tips for Submitting an Offer on Foreclosures

Posted by Anne-Marie McReynolds on Wed, Jun 04, 2008
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  1. Make sure to read all instructions in MLS.

    Most REO (Real Estate Owned) agents will attach a list of instructions for all agents to read before submitting an offer on a bank owned property. Please keep in mind that agents handling the bank's listings are subject to bank requirements. Documents and disclosures may need to be signed prior to submitting your offer or the asset manager won't even look at the offer.
  2. Submit the offer with the required mortgage pre-approval letter from a preferred lender.

    Most banks that have foreclosures in their inventory will require buyers to have a pre-approval letter from a lender in their own system. This does not mean your buyer can not use a lender of their choice -- but the bank will not review your buyer's offer unless this step is completed.

  3. 'Submit your best and final offer.'

    If your buyers have their hearts set on purchasing the bank's property, advise them to submit their best offer in writing as soon as possible. Calling the listing agent to see how many offers she has on a particular property may yield a response such as "submit your best and final offer." Plus, the listing agent may be too busy to get back to you in your client's time frame. Many REO agents have hundreds of listings at any given time -- along with others that they are in the process of listing (BPO stage).

  4. Be considerate to the listing agent and their staff.

    The Golden Rule applies with listing agents: "treat others as you would like to be treated." An agent may likely have 50-150 escrows running at any give time. Being patient and considerate will help you gain an advocate in the negotiation process. Keep in mind, the agent is at the bank's mercy. They want to close the deal as badly as you do.

  5. Get all required signatures back immediately on counter offers.

    As soon as the bank submits a counter offer, the pace of the transaction speeds up -- even if it took them 3 weeks to review the initial offer on the property. The quicker you respond, the better off your client will be. In order to secure your buyer's position, get all signatures back immediately or the bank will consider other offers. Note: the bank may also require a "wet" signature -- an original signature on paper rather than a faxed or e-mailed copy.

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Close More Sales with Twitter

Posted by Anne-Marie McReynolds on Wed, May 28, 2008
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Agents selling to Internet buyers are likely to work only 2.2 weeks with a buyer before selling a property (vs. 7.1 weeks traditionally).

92 percent of Internet buyers find their agent on a Web site, according to the California Association of REALTORS (CAR).

69 percent of Internet buyers said response time was extremely important.

Whoever meets their need for instant gratification seals the deal -- and earns referrals. "97 percent of Internet buyers said they would use the same agent again (vs. 50 percent traditionally). They're twice as likely to give a referral," CAR says.

To gain a competitive advantage, Internet REALTORS® use Twitter to keep their tech-savvy clients in-the-know.

"Twitter is a method that allows you to communicate en masse to all of your agents about business information in real time," according to the WAV Group.

"Brokers who are responding to each and every lead within 10 minutes have a 250 percent greater lead to close conversion rate than those who are not responding quickly," writes Glenn Houck, co-founder of LeadQual, LLC.

Micro-blogging

Twitter is a free social networking and micro-blogging service that allows users to send "updates" (or "tweets"; text-based posts, up to 140 characters long) to the Twitter website, via short message service (SMS), instant messaging, or a third-party application such as Facebook.

Best Practices

1. Announce price changes, rate changes, new listings and open houses to your clients with one message. Information is delivered to a buyer's phone in real time (as a text message).

2. Promote your blog.

"Since I started using Twitter, I have more than doubled my blog traffic," says Chris Brogan, social media guru.

3. Business intelligence.

"Why? Because you can use it to hear what your customers, clients and users are saying about you," says Joel Burslem, marketing director of Inman News. TweetScan searches for keywords through the Twitterstream (i.e. "Realtor").

What is TwitPic?

TwitPic lets you share photos on Twitter -- from your phone or through the site itself.

For example, 3 Oceans Real Estate "tweets":
http://twitpic.com/16vj <- Seen on lytton and waverley, palo alto ca

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