Lead Generation and Marketing Plans for Real Estate Professionals

By Cheri Alguire

In pervious articles, we focused on targeting a niche, the WHO that benefit most from your services. Now we turn our attention to generating leads from that given niche and creating a marketing plan for success (the HOW.)

Once you have identified the WHO, you must set about a plan to communicate with them in order to capture that business. Don’t neglect a single person within the target. If you have singled out a particular neighborhood, for example, every waiter from every restaurant and every manager/owner of every business in that area should know your name and game. A branded, consistent image is essential, and you should carry—and leave it—wherever you go. The persona you present should be just as consistent: friendly, competent, and willing to help.

Master marketing blogger and author Seth Godin reminds us that marketing is simply a matter of spreading ideas—but that the very action of dispersing those ideas is a powerful force. He suggests that your marketing be a form of storytelling: let the consumer know you and your business through a memorable narrative. The story can be told in print, such as a glossy brochure or easily remembered business motto or slogan, but it also should be told through every visual image you present to the public as well: your website banners, stationery, postcards, etc.

Let’s use for example your target neighborhood again. You have identified the WHO in the niche and now want to reach them. They are a mix of upper-middle class singles and families, mostly professional, who support their neighborhood through school and community events. The neighborhood houses a city park, a few small, locally owned restaurants, and a scattering of businesses. What is your marketing plan to attract them? What story will you tell?

First, be visible. Be present in the neighborhood, supporting it. Live in it! If you are handing out flyers (or sponsoring?) the local half-marathon, everything that represents you and your business should be immediately recognizable: your logo, your colors, every image that tells your story. If you want to connect in this neighborhood, shouldn’t your photo on your website and promotional materials include an image of that park? If you are a runner, the consumer should see you in those shorts. A volunteer? Publish the image of your cause with you in it. To paraphrase the humorist, Nora Ephron, “everything is copy,” so get out there and get your story told with the real—and relevant--details of your life.

Second, be different. Seth Godin also warns us that “people only notice the new.” (ALL MARKETERS ARE LIARS, 2005.) The truth is, there are an awful lot of people who do what you do. So what do you do that is so different? Or how can you change what you do to be different? “Hot pizza, 30 minutes or less” is a differentiating distinction in a business of countless competition. You can’t “provide the best service” and be considered different from all the rest. But define the best service, and perform it, and you will succeed. We know of one real estate team that grew to become the top producers in their market by answering phone calls in five minutes or less, emails and text messages within ten minutes. They advertised this difference and delivered on it, convincing the public that they were interested in providing them immediate attention and service. Listing appointments included “the test:” potential sellers calling anonymously from a coded listing, only to have an agent return the call within five minutes and ask if they needed assistance on a particular home. Slam dunk.

Third, be active. Do not confuse having a “marketing strategy” with having an “action plan.” You must invest your time, effort, and dollars in securing the specific marketing resources which target your clientele and give you the best return on your investment. Big doesn’t always mean better, but then again, sometimes it does. Do your homework. Select media which fit both your budget and your goals. Then put your plan into effect.

Finally, analyze results. Track every lead to its source of origination. In that way, you can determine which marketing resources are working best, and which are most cost effective. You will know when and how (much) to change only if you track and account for your leads.

In the end, it is pretty simple: Tell your story well to as many people as possible.

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Coach Cheri Alguire has helped hundreds of Real Estate Professionals and Super Small Business Owners create a Lead Generation and Marketing Plan to really take their business to the next level of success. Find out more at http://www.CheriAlguire.com

Expired Real Estate Leads Scripts

By Cheri Alguire

With so many agents working on getting expired listings, my clients have been asking me to help them work on scripts during our coaching sessions for advice on how to deal with objections from expired real estate leads.

Remember, the expired listing is going to be bombarded with calls from other agents who are also trying to get the listing. It is very important to build rapport with the seller and to set an appointment. Once you are sitting with them, you will be better able to explain how you can help them get their home sold.

If you are using these scripts on the phone or even at their front door, always try to set an appointment to present your listing presentation when all decision makers can be present for as soon as possible. That same day would be great.

These are only some of the objections my coaching clients have received in the past few weeks. These are the responses we came up with to learn and use to handle those objections and questions. What kinds of objections and questions are you getting? Submit your question here http://www.prorealestatecoach.com/pages/contact-us.htm and we will get back to you on a specific response as well as include the best questions on a future Scripts posting.

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They say: “If I can’t get $xxx,000 for my house, I can’t afford to sell.”

You say: “I understand your concerns. Have you looked at what you will net if you get that amount? Let’s take a closer look at the numbers including what it is costing you each month that you don’t sell and have to pay for expenses with the property. Could I stop by and explain those numbers to you later today?”

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They say: “How come you did not sell it while it was on the market before?”

You say: “With the current market we are in, there are so many houses that are similar on the market. In order to get your house to stand out on the Multiple Listing System that agents use to search for available houses for their buyers, it is important to market it so that it stands out among the rest. Can I share with you how I market homes differently on the MLS than I do for potential buyers in, say, the newspaper? Can we meet later today?”

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They say: “Can you send me some information on your experience first.”

You say: “I would be happy to get you a brochure and some information on how I can help you get your home sold. I would hate for you to miss any time on the market, however. Can I drop it off with you this evening? That way you can get your home listed again as soon as possible. What time is best for you?”

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They say: “Have you ever sold a house in my neighborhood?”

You say: “Even though I have not sold a home in your specific neighborhood, my marketing philosophy is to really market the home’s strengths. I believe one of your homes strengths is being in the (insert neighborhood name) and it’s proximity to the elementary school. What do you think are your home and neighborhood’s best features? I would love to show you how I’ll fit those strengths into my marketing materials. Can we set up a time for me to come over and explain my marketing plan later this evening?”

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They say: “How about if we just list it with you for a month and try it out?”

You say: “With today’s current marketing conditions, it is taking longer for some properties to sell with the competition on the market. Let me explain the marketing plan I would use on your property and explain what I would be doing in the first month as well as the next months after that. I am sure you will be impressed. “

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They say: “I am frustrated that our house has not sold yet.”

You say: “I understand your frustration. With the changes we have seen in the real estate market over the past year, the average days a home is listed on the market has increased. One thing that I offer is an updated market analysis on a regular basis to make sure we have your home listed at the right price even with new homes selling and new properties being listed in competition with you. To help ease your frustrations, how often would you like to receive this information while your house is listed?”

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They say: “I don’t think our agent did their job.”

You say: “I am sorry you feel that way. I know your past agent and he is a good agent. However, what would you want from your next agent that would make it a better experience?”

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They say: “My last agent was not able to sell our house in 6 months, what makes you think that you can?”

You say: “I know it is frustrating that it is taking longer to sell your home than you anticipated. I have a marketing plan that has helped me sell (insert your numbers) % of my listings and my average days on market is (insert your numbers.) What do you think would help your home sell more quickly?”

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They say: “My last agent did not do much to sell my house. I think I am going to try it myself.”

You say: “I can understand your frustrations. Sometimes it seems like it would be easier to sell it yourself because you don’t see what your agent is dong to promote your house to the other agents in your area. Can I explain what I do to promote your house in the MLS and to other agents?”


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Real Estate Coach Cheri Alguire has helped thousands of Real Estate Professionals answer tough questions from Expired Real Estate Leads like these. If you have a tough question that you have trouble answering, submit it here: http://www.prorealestatecoach.com/pages/contact-us.htm and she will email you a possible script and post the most best questions in a future Scripts posting.

What is your Value Proposition and why do you need one?

By Cheri Alguire

YOU know how special you are. YOU know that you outshine the competition. The question is: does your potential client?

Helping clients understand the value you provide to them is essential in prospecting and keeping business. Let’s face it: consumers have plenty of YOU to choose from, and national research shows that they see very little difference among you. It is therefore up to you to be able to articulate and to demonstrate what it is that makes you their best choice; what it is that makes you unique and valuable.

First, know what clients want and know that those wants may change. You must identify what consumers expect and need.
NAR data from 2008 states that today’s buyers and sellers are selecting agents for a number of select reasons:

• They want a quick response.
• They want expert advice and guidance.
• They want a skilled negotiator.
• They want accurate market knowledge.
• They want a “track record.” (Reputation matters.)
• They want someone they can trust.

If you are able to show clients that you have expertise and skill in all of these areas, you have begun to prove your value.

In addition, a good buyer’s interview will help you determine your clients’ individual wants and needs. Listening is a key component in this step. If you can then paraphrase back to the clients what they have described, they become convinced that you know and understand them, and what’s more: that you are willing to accept their “requirements” and work accordingly on their behalf. (Also, be prepared to be flexible because those “must haves” might suddenly shift to “would be nice to haves,” while entirely new criteria surface as primary.)

Second, remember: it’s not about you. It’s about them.

A useful motto here for the real estate professional is: “check your values at the door.” You may take their criteria and show the clients the best of the best in that price range, only to find out that they are solely comfortable with homes more modest or unassuming. You may be appalled to discover that their top choice is across from an apartment complex or major highway, but if you remain non-judgmental and validate their reasons, you have proven your value as a listener to their needs. On the other hand, if you try to argue them out of their first choice or convince them they are wrong, (because obviously you are the expert!) then you risk alienating the clients you are supposed to serve, if not lose them all together.

Finally, know and verbalize exactly why clients should work with you.
And P.S. the answer isn’t “because I give good service.” You’d better give good service: that’s a bottom-line expectation of all consumers! What do you do above-and-beyond service?

Jeffrey J. Fox, in HOW TO BECOME A RAINMAKER, reminds us that we should always be able to answer the question, “Why should this customer do business with us?” Make it your mission to be able to answer that question for your business--the same way every time. And make the answer true.

That is a value proposition that sells.

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Coach Cheri Alguire has helped hundreds of Super Small Business Owners, Realtors, Coaches, and moms figure out their Value Proposition. If you would like help with your Value Proposition check out part 10 of the 17-Part eCourse at http://RealEstateBusinessPlanningGuide.com or contact us today at http://www.CheriAlguire.com

Niche Marketing Lesson for Your Business from a Burger Restaurant

By Cheri Alguire

Now in the current market and more than ever, you may be tempted to define your clients as any and every one who walks past you down the street. Everyone needs a place to live, right? Concerns over the economy and a desperate need for lead generation may persuade you to apply the salt-shaker method of marketing: sprinkle it all over and hope that something sticks! But this panic-mode thinking could be the biggest mistake you make all year, resulting in wasted time, money and resources.

In order to get the most of your marketing efforts, in this economy especially, you need to follow the rules of niche marketing. In-N-Out Burger fast food restaurants are a perfect example of niche marketing. Never meant to appeal to everyone, never meant to take over McDonalds’ or Burger King’s market share, this successful hamburger joint has a limited menu consisting of only three different sandwiches: the hamburger, cheeseburger, and the "Double-Double" (double meat/double cheese.)

Though times have changed since the chain opened its first restaurant in 1948 in Baldwin Park, California, little has changed at In-N-Out. The menu - burgers, fries and drinks - is still the same basic menu customers have always enjoyed. Have they expanded their menu to have other kinds of sandwiches and entrees? No. Loyal burger eaters know that when they want a good quality burger, IN-N-OUT is the place to go. They do not spend marketing money advertising the latest Chicken Sandwich Spectacular because they don’t have one. They focus on what they do best.
As a small business owner, what lessons can you learn from IN-N-OUT?

Now is exactly the time to refocus your time, money, and resources in a similar manner. When all three may be in short supply, it only makes sense to concentrate on your niche, the group of people most assured to bring you certain returns, the group of people you want to work with and concentrate on.

If you don’t know them already, choose who those people are.

• Who best benefits from the specific services you offer—and deliver--better than anyone else?
• Who already has benefited from your services and is now a “Raving Fan?”
• Who do you know who “talks up” your services and serves as your Goodwill Ambassador?

After you have determined the WHO, analyze the WHERE.

• What do these groups you have identified have in common and where do they come from?
• Are those who benefit most from your services within a certain age group? Geographic location? Job or organization?
• Those who are your Raving Fans are clearly past clients and referrals, but where do you find them now?
• The Goodwill Ambassadors are clearly your sphere, but where do you find them? The family tree? The immediate neighborhood? Church? Clubs?

Then of course, you must apply the HOW. How will you reach that target once you have identified it? If seniors are the most likely to respond to your services and inventory, you will probably not concentrate solely on internet strategies But similarly, if you have a Gen-X or Y population clamoring for your services, you need to be well established with the latest technologies, communication platforms including social media networking sites, and expertise. Know how to reach your clients and where to spend your time and money.

And remember your goals. If you are planning to double your business within the next five years, then the HOW must include the resources you will need to market to and service your niche.

Don’t succumb to the fear that if you don’t court every potential client, you won’t have any clients at all. Make your niche as carefully designed a part of your business plan as your budget. If you focus your time and resources and serving the burger-loving clients the best way you possibly can, you will attract more of the same. Leave the chicken-lovers to someone else.

This is the true key to Niche Marketing!

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Coach Cheri Alguire has helped thousands of super small business owners and real estate professionals find their niche. Find about her book Branding & Marketing Mastery or her business planning guides at http://www.CheriAlguire.com

Mother of the Year Video

I hope all you Real Estate Moms enjoyed Mother's Day. I enjoyed "Mother's Day Weekend!" (Why have a day when you can stretch it to three!)

I received this video in an email from a friend on Mother's Day. Watch it to the end and it will bring up an area where you can customize it.

CNNBC Mother of the Year Video

Make it a GREAT Year!!!

Moms on Facebook

By Cheri Alguire

“Why isn’t there a ‘Kids’ Day?” is the question I heard from my fifteen-year-old daughter this week. Doesn’t she know that her older brothers and all kids in the entire world that have ever asked this question before always get the same answer…”Every day is ‘Kids Day’!”

Happy Mother’s Day, Real Estate Moms! I hope you all have plans to enjoy your day!

The other day, my daughter walked into my office and exclaimed with surprise, “Mom! You’re on Facebook!” She thought Facebook was only for kids. Not anymore. The fastest growing demographic on Facebook is those 35 years old and older. Facebook, is no long, just for kids.

How about you? Which Social Media sites are you on? Facebook? MySpace? Active Rain? Linked In? Others?

I first joined Facebook when my son’s girlfriend invited me to join. I didn’t do anything with it for years. Then, about six months ago my brother found me on it and asked me to be his friend. He did tell me that he thought it was pretty disgraceful that he made up 50 percent of my “friends” and that he was my brother so he didn’t even really count! I decided it was time that I checked out this Social Media craze starting with Facebook.

According to Wikipedia, “Mark Zuckerberg founded Facebook with fellow computer science major students and his roommates Dustin Moskovitz and Chris Hughes while he was a student at Harvard University. Website membership was initially limited to Harvard students, but was expanded to other colleges in the Boston area, the Ivy League, and Stanford University. It later expanded further to include any university student, then high school students, and, finally, to anyone aged 13 and over. The website currently has more than 200 million active users worldwide.”

Even Oprah is now on Facebook!

Founded in February 2004, Facebook is a social utility that helps people communicate more efficiently with their friends, family and coworkers. The company develops technologies that facilitate the sharing of information through the social graph, the digital mapping of people's real-world social connections. Anyone can sign up for Facebook and interact with the people they know in a trusted environment.

As of May 2009 there are:

• More than 200 million active users
• More than 100 million users log on to Facebook at least once each day
• More than two-thirds of Facebook users are outside of college
• Average user has 120 friends on the site
• More than 3.5 billion minutes are spent on Facebook each day (worldwide)
• More than 20 million users update their statuses at least once each day
• More than 4 million users become fans of Pages each day

But, how about you? How do you use Facebook and why? Do you use it to keep connected with family, friends and clients? To locate old classmates? To network? What? Please comment and let me know how you are using Facebook or other Social Media. Or click on my Social Media Links on my website http://www.CheriAlguire.com and message me that way.

I look forward to connecting with you on Social Media and sharing more about how real people use it in their business and in their life.

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Coach Cheri Alguire is a coach, speaker and trainer who has helped thousands of Real Estate Professionals and Super Small Business Owners keep up on the latest business trends and take their business to the next level of success. Find out more at www.CheriAlguire.com

How is your “Busyness” Doing?

By Cheri Alguire

How is your Busyness Doing?

No, I did not mean “Business” but if you tell me how your “Busyness” is, I bet I can tell how your Business is doing. We too often spend far too many hours attending the busy-work of the business, which leaves us a day late and a dollar short of our goals.

What is on your to-do list for today? Are these items that will get you closer to your goals, or are they just things that you HAVE to do. I can almost bet that if you are getting up every day and just plowing through a seemingly endless to-do list, that your Business may be “surviving,” but you are not “thriving.”

An important way to tell if you are doing busy work or not, are ask yourself the following questions:

1. Which goal will doing this activity get me one step closer to?
2. Can someone else do this for me?

Sometime things don’t really need to be done at all. And sometimes, things need to be done, but just not by you.

You will need to prioritize those items that have to get done by you. If the majority of your business over the next five years will come from leads generated from referrals and sphere, then the “have-tos” are clear: contact and service well that group of people. Invest your time and money in that quadrant of contacts. Stay away from the nagging “to-do” list that says you need to update the expired system that you drafted two years ago and have failed to implement yet.

Next, ask some hard, frank questions of yourself and your business.

• First, can you reach your goals alone? In order to achieve the numbers you’ve put forward, do you need to expand your human resources?

• Second, do you need a different business model than the one you are currently using? (Told you they were hard questions!)

If you are looking to increase your production by half-again as much in the next five years, perhaps you can obtain your goal within the status quo. But what if you are looking to double your business in five years? Or quadruple it? Is it reasonable to think that you can succeed under the same manner and with the same number of people that you have been previously?

You know the answer: undoubtedly not. As a matter of fact, this can often be the tipping point of decline and/or failure in a business, when you fail to realize that you, alone, cannot be chief cook and bottle washer and grow your business. A team or staff to support you may become essential when planning for your future goals The E-Myth Revisited: Why Most Small Business Don’t Work and What To Do About It, by Michael Gerber, talks about this at length in his book.

It’s all about the numbers today in terms of goals and in terms of human resources. Plan accordingly.

That is why Part 9 of my 17 –Part Business Planning Workbook is on the numbers. You need to figure out what kind of Production you will need over the next 1-5 years in order to hit your personal goals. Your business is about supporting your life; it should not be your life.

If you are caught up in Busyness, your business has become you life, and is no longer just supporting it.

One question I get a lot doing my coaching and speaking is “How do you come up with the “numbers?” Maybe this will help:

WRITE THEM DOWN.

Next year’s goal: what is the magic number for closed production (in millions?) For your 2-year goal? For 3, and 4, and 5 years? What about gross and net closed commissions? Average Sales Price? Number of Transactions? Number of Listings? You must chart each out and write down the number.

For next year and the four to follow, what is the magic number for new listings, for example? Where will the business come from? What is the lead source? Referral. Sphere. Website. Farm. Expireds. What about buyer-generated sales? Where will that business come from? What are the lead sources? As you define these categories, you begin to identify your target market and where to spend your marketing dollars (and your time!)

Numbers tell you so much about your business. By focusing on your numbers and reaching your goals, you are able to plan your priorities, staff your Business accordingly and keep out of Busyness!

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Coach Cheri Alguire has helped hundreds of real estate professionals, super small business owners and Moms, keep out of Busyness and in a Business that is thriving. To find out more about Cheri Alguire’s Business Planning Guide visit http://www.realestatebusinessplanningguide.com/ or http://www.cherialguire.com/