Why You Need to Jump on the Video Bandwagon


There is no question that real estate marketing needs to focus on visual marketing. Potential buyers want to know what the house looks like – on the inside, the outside, the neighborhood and more. The good news is that the Internet makes visual marketing easier than ever. Your challenge is to stand out from the competition and stay ahead of the curve. And that means video.

Here are some Web video stats for you:

  • ·        More than 1 billion unique users visit YouTube each month.
  • ·         More than 89 million people in the U.S. will watch an online video today (1 in 3 Americans).
  • ·         76% of marketers plan to add video to their sites, making it a higher priority than Facebook, Twitter and blogs.
  • ·         Web users spend twice as long on pages with videos on them.
  • ·         Online video accounts for more than 50% of mobile Web traffic.
  • ·         Only 1 in 4 real estate listings include a virtual tour or video.

Real estate research and thought leadership experts at WAV Group produced a paper in May titled “Video Marketing: The Secret to More Effective Lead Generation.” In the paper, founding partner Marilyn Wilson states, “From first sight until purchase, real estate is a visual experience for the consumer. Video is the tool that combines visuals and information.”

If only 1 in 4 listings include a video, then including this element will surely help you stand out from the crowd. And they don’t have to just be listing videos. A joint study by Google and the National Association of REALTORS® found that 86% of buyers who watched real estate videos did so to find out more about a specific community. This was followed by 70% who watched house tour videos.

It might sound daunting, but including video in your marketing mix doesn’t have to be a huge undertaking. Even a 3-10-second video of a room shot with your smartphone will give a client a better idea of what the space really looks like than a still photo.

The point is to start incorporating video into your marketing, however small at first, so you can familiarize yourself with the practice. As it becomes a regular feature for you, you can expand into different types of video – full home tours, community overviews, past client testimonials, educational “how-to” videos – and you should start seeing results. 

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Improve Your Real Estate Marketing by Being More Confident


Did you know that, according to research, the natural human state is to be shy and cautious? While some of us are born with more outgoing personalities, skills like confidence, leadership and public speaking are things we learn along the way.

Honing these skills will make you a better real estate professional. Who you are and what you, personally, can provide for your clients is the most important step in your marketing plan. You want to project the image of a confident, capable person. The best way to project that image is to be confident and capable.

A plethora of resources exist about how you can teach yourself to be more confident. Here are a few strategies:

1. Be aware of, but don’t give in to, negative thoughts.

According to author and confidence expert Becky Blalock, the average human has 65,000 thoughts a day, and 85 to 90 percent of those thoughts are negative. It’s easy to get caught in this loop and let your thoughts bring you down. But if you are aware that your brain works this way, you can push aside those negative thoughts and replace them with positive ones, knowing that thoughts are just thoughts, but reality is what you make it.

2. Step outside your comfort zone.

Nothing teaches confidence more efficiently than doing something, and then knowing you can do it again. If we stay within our comfort zone, it will get smaller and smaller, and we will feel more fear about new experiences. If we go out and pursue new experiences, we are much more apt to feel confident that we can handle whatever comes along next.

3. Bounce back from failure.

“I have not failed,” said Thomas Edison. “I’ve just found 10,000 ways that won’t work.” We only fail when we don’t learn from our experience and we don’t get back up to try again. If we focus on learning, as Edison did, failure is just part of the process, and our self-confidence is not attached to it. Measure yourself by your efforts rather than your results.

4. Surround yourself with the right people.

“Your outlook – positive or negative – will be the average of the five people you spend the most time with,” Blalock says. “So make sure you’re hanging out with people who encourage you and lift you up.” When people you respect recognize your strengths, you believe them. You work harder to prove them right, and this makes you work better and feel more confident as a result.

5. Be prepared.

There’s nothing worse than going into a situation where you don’t know what you’re doing. Do your homework, research, know everything you need to know about the situation. You will automatically feel more confident because you have some idea of what to expect. This will also enhance your credibility.

How about you? What tricks do you have up your sleeve for feeling and appearing confident? Share them with us below!

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Why Relationship Marketing is the Future of Real Estate Marketing


In late July, the real estate game changed again. Zillow bought their primary competitor, Trulia, for $3.5 billion (yes, billion with a B!). Real estate expert Brad Inman says that Zillow has effectively “checkmated” the real estate industry.

“In my view, this is checkmate,” Inman said. “Soon, Zillow will control the chessboard, like Amazon does the publishing industry. The only meaningful consumer destination, Amazon, after many savvy moves, now controls pricing, merchandising, the data and the market. Soon, Zillow will control the pricing, the listings, the merchandising and, for sure, the consumer.”

It’s been established that 95% of all consumers begin their real estate search online. So, now that Zillow has taken the lead as the destination for people searching online for homes, what does this mean for REALTORS®?

First off, it’s no secret what Zillow is trying to do — they are positioning themselves to get in front of the consumer before you, the agent, has a chance to market to them. In turn, they will sell you leads, when the leads are people who are living in your backyard. (This seems kind of wrong to me.)

Some agents might just bite the bullet, which will prove to be a very expensive way to market their services. But if you’re going to pay for leads from Zillow, at the very least make the most of them. That’s why relationship marketing is important today more than ever.

We can’t outspend Zillow when it comes to marketing dollars — their marketing budget alone dwarfs most of our entire incomes. So don’t waste your money there. Instead do the one thing Zillow can never do — have relationships with your clients.

REALTOR.org found that 73% of home buyers who used an agent said they would use the same agent again. Plus, 39% of sellers said they found their agent through a referral from family or a friend, and an additional 25% of sellers worked with an agent they had used in the past. You’re already laying the ground work — why chase “new leads” while ignoring the ones you already have?

Start focusing on your past clients. Create relationships with them so they trust you, and know they can trust you again. Continue to provide them with valuable information about their neighborhood, owning a home, the real estate market. Make sure they know that you are there when they need you. If you establish a relationship with them, they will remember you, they will likely use you again, and they will pass your name on to their friends and family.

Zillow has ensured that the days of traditional online lead-chasing are over. So take advantage of what you have that big companies don’t – the human touch.

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Are "Pocket Listings" Good for the Real Estate Market?


When the real estate market starts to heat up, especially in times like the present where inventory is lower than expected, homeowners have more options when it comes to selling their houses. This is where the pocket listing sneaks in.

The National Association of REALTORS® (NAR) doesn’t have an official definition of the term, but essentially a pocket listing is one that is not on the MLS, for a variety of reasons, including:

  • The homeowner wants to sell the house quickly.

  • The listing agent hasn’t completed the MLS paperwork yet.

  • The homeowner wants to keep the sale quiet.

  • The agent wants to build buzz around the impending sale and posts a “Coming Soon” sign, physically or virtually.

  • The agent knows he or she can bring in a buyer, and thus keep the entire commission without having to split it with the buyer’s agent.

Using a pocket listing can benefit the seller, if he or she is looking to sell quickly or quietly, without an extended marketing period, open houses, and untold numbers of feet trampling through their house.

It can also benefit a potential buyer, if the buyer is a lucky one who knows the listing agent. This happened recently to my brother in a Kansas suburb of Kansas City, MO. He made offers on three houses but wasn’t able to secure a deal on any of them, as they all sold for more than their listing prices. His REALTOR heard about a house that would be coming up for sale soon and told my brother about it. My brother looked at the house and made an offer on the same day. Apparently the homeowner wanted to sell it quickly, and accepted my brother’s offer, without the house ever being listed on the MLS.

This situation certainly worked out well for my brother, who finally was able to purchase a house in the neighborhood where he wanted to live. He didn’t have to worry about being involved in a bidding war, because the seller accepted his first offer. (Which was larger than most buyers would typically make the first time, because he knew the market well by this point.)

The sticky part of the equation, though, involves you, the real estate agent. Because most likely, this situation works out the best for you more than anyone else involved, especially if you end up getting the full commission. As a REALTOR, you are bound by a code of ethics to secure the best deal for your client. But a pocket listing inherently restricts the pool of eligible buyers. Also, the seller doesn’t know how many potential buyers there might have been had the house been put on the market, nor what price the house ultimately would have sold for.

Some real estate professionals are concerned that the practice also hurts the housing market. Homes not listed on the MLS are not figured into comparable properties for appraisals, other sales or mortgage refinancing. It also distorts the housing inventory.

“Statistically it appears that we are getting back to very balanced market conditions,” said Lawrence Yun, chief economist for the NAR. “However, the sentiment out there is that we still have a shortage of inventory, and I think that is due to the prevalence of pocket listings in some markets.”

Opinions on the practice vary – some think it’s perfectly fine, some do it in only special circumstances, and some see it as unethical or even approaching illegal.

What do you think about pocket listings? Sound off below!

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Are business cards still relevant for real estate marketing?


My husband is a handyman. He doesn’t own his own business, but he does odd jobs for people when they need it. We were at a neighborhood garage sale a few weeks ago, chatting with the homeowner, and it turned out that she had a tree in her backyard that had fallen down, and she needed it cut up and disposed of. My husband said he could take care of it for her. She was thrilled.

“Do you have a card?” she asked.

Wah-wah (à la Debbie Downer).

We had been talking about getting some made for him, but hadn’t gotten around to it. He gave her his number, she punched it into her phone and called him, so then they were connected. But, oh, wouldn’t her first impression of him been so much better if he had been able to hand her a professional business card with his name and number? The situation would also have been less awkward. And she would have had a reference point for being able to suggest his services to any of her neighbors or friends. Instead, she didn’t call him, and we think his not having a card had something to do with it.

It was, unfortunately, a clear example of why business cards are still such an important part of our culture and how they can work for anyone.

According to Pew Research, 91 percent of American adults own cellphones, with 56 percent owning smartphones. We become so caught up in emerging technology that sometimes we forget the power of a tangible reminder in our hands.

So, why are business cards still so important?

1. Business cards are the fastest and easiest way to give someone your business contact information. No writing, no punching in numbers, no trying to remember someone’s name to look them up later on LinkedIn.

2. Digital device usage varies. Not everyone has a cellphone, a little less than half of those have a smartphone, and even those who do have smartphones use them to varying degrees. You can’t count on everyone you meet to use technology to the same degree you do.

3. Business cards aren’t dependent on battery or signal strength. Maybe you’re on a camping trip in the mountains and you strike up conversation with someone. You can’t call them, but you can hand them a card.

4. Business cards are a marketing tool. You never get a second chance to make a first impression. When meeting someone face-to-face, cards provide the first exposure to your brand. They can also be kept, passed on and referred to over and over, extending your brand message every time.

Technology is a good thing, but remember that just because you CAN use it for everything, doesn’t mean you should. In your real estate marketing, it is important that you maintain a personal relationship with your clients. Talking to them face-to-face and giving them tangible reminders of what you can do for them – including business cards, postcards and newsletters – keeps you top-of-mind and helps your business grow.

For more information on the business cards, postcards and other personalized printed materials offered by The Personal Marketing Company, visit us at www.tpmco.com.

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‘Think like a fish’ to improve your real estate marketing


This past weekend I went camping with my family, where my husband was able to pass on the time-honored tradition of teaching his son to fish. After two locations and several hours in the hot sun, they got a few nibbles but no fish. At which point my husband passed on the traditional fishing advice – if you want to catch a fish, you need to think like a fish.

He convinced our son to wait until it got dark, because catfish will become more active after the water has cooled down. He said they needed to get the right bait, because catfish will go after smelly food. He also said they needed to use weight on the line so that the bait would sink, because catfish hang out along the bottom of the lake. The boys put those tactics to practice, and not 30 minutes later my son was gleefully holding up his very first catfish.

The age-old advice was still sound. Once they started thinking like the catfish, they soon caught one.

The same rationale can be put to use in real estate marketing as well — If you want to “catch” clients, you need to think like them.

Some real estate professionals rely on their listings as bait, waiting and hoping for a nibble. But as my son found out, that is not usually the most effective way to catch a fish. You need to be more proactive. You need to go to where the fish are, learn how they behave, learn what they like and dislike.

Start by doing a little thinking and a little research. 

What is your niche? Who is your target audience?

(Catfish)

What are your target audience’s likes and dislikes? What attracts them? What turns them away?

(Catfish like smelly food.)

What are the habits of your target audience? Where do they live, work, eat, shop, and play?

(Catfish stay by the bottom of the lake.)

What are their motivators? What drives them to do what they do, make the decisions they make?

(Catfish are more active at night when the water is cooler.)

If you take the time to learn about your potential clients, you can learn to think like them. Then you can use that knowledge to put yourself in front of them, so that they don’t have to go out of their way to discover you. And that is sure to generate better returns than just sitting and hoping for a nibble.

What “tricks” do you use to get to know your audience? Leave a comment below and share your ideas!

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