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Welcome to…<br />RI 403: Personal Promotion<br />

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2007 NAR Profile Home Buyers and Sellers<br />

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What are they looking for?<br />93% looked for Homes <br />21% Area Information<br />5% Real Estate Company<br />3% Real Estate Agent<br />

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2007 Profile of Buyers and Sellers<br />

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How the Buyer found the house<br />

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Why Clients Chose Their Agent<br />You should know the client / customer’s expectations as well as their needs*<br />

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Generation<br />170% Growth in 35-45 year olds in past year<br />Average age of a user is 32<br />Majority are College Graduates<br />Largest increase of users are those over 55 in the past year<br />175 million active users<br />Average users have 120 friends<br />18 million update daily<br />Over 3 Billion minutes spent on Facebook daily<br />Source: http://www.facebook.com/press/info.php?statistics<br />

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Section One<br />Learning Objectives<br /><ul><li>Learn the differences between Business and Promotion expenses

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Learn how and where to invest your money to get the optimal return on investment

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Projecting your future income

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Identify additional sources of business</li></li></ul><li>Exercise One<br />Defining Business <br />and Promotional Expenses <br />

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Developing a Budget <br />Business Expense: Those Expenses incurred as a “cost of Doing business.”<br />Promotional Expense: Income producing expenses incurred in an attempt to generate leads and attract business.<br />Page 1<br />Page 1<br />

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Business vs Promotional Expense<br />_P_ Development Brochure<br />_B_ Add Fax<br />_P_ Mailings Development<br />_P/B_ Postage<br />_P_ Newsletter<br />_B_ Digital Camera<br />_P_ Newspaper Ad*<br />_P/B Printing<br />_B_ Outside Assistance<br />_P_ Web page<br />_B_ Convergence Device<br />_P_ Internet Service<br />_B_ Cell Phone<br />_B_ Computer<br />15% to 20% of your Gross Income should be invested into Promotion and Marketing*<br />Page 1 and 2<br />Page 1 and 2<br />

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Budget Framework<br />Rocks<br />Vacation, Private Schools<br />Debt<br />Insurance, Utility, Loans<br />Personal<br />Entertainment, Groceries<br />Tax Payment<br />Estimates / Quarterly Payment<br />Charitable Contributions<br />Tithes, donations, etc…<br />Business Promotion<br />Promote Yourself<br />Business Expenses<br />Dues, MLS, Equipment<br />Savings<br />401, Investments, Basic<br />Monthly Salary<br />Pages 3-7<br />Pages 3 and 4<br />

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Marketing Requires <br />Adequate Funding<br />Don’t try to outspend “mega producers”<br />Start with people you know, who know you; your neighbors, and your sphere of influence. Here are a couple of easy and inexpensive ideas that work.<br />

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Section Two<br />Learning Objectives<br />Upon completion of this section<br /><ul><li>Participants will be able to structure a personal promotion and marketing plan

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Develop a personal budget and personal business goals

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Identify market factors effecting their markets</li></li></ul><li>What is Personal Promotion<br />It’s the process used to establish yourself as “the” person to contact when a consumer wants straight forward, results oriented real estate services.<br />Page 8<br />

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What is Marketing?<br />Marketing is the sum total of all that is done to promote the sale of a service or product<br />

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Immediate Business<br />1. Regular and Consistent Contact<br />2. Consistent Format<br />3. Periodic Personal Contact<br />4. Follow-up and Ask for referrals<br />5. Generate Clients from Listings<br />(not “Use your sellers”)<br />Page 9<br />Page 9<br />

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Prospecting examples:<br />Open House<br />Door Knocking<br />Telemarketing (Cold Calls)<br />Client Parties<br />Networking events<br />Social Functions<br />Community Events<br />Seminars<br />Booths at events<br />Teaching and Speaking opportunities<br />Any more?<br />Page 8<br />

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Will Buyers and Sellers Settle for the Cheapest Solution?<br /><ul><li>In the absence of perceived benefits… Cheaper is the most likely alternative

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Be prepared to demonstrate the benefits buyers and sellers will receive by working with you.</li></li></ul><li>The benefits of your services must equal or outweigh the cost of <br />your services<br />Yes<br />NO<br />YOURFEE<br />Lots of benefits<br />Not enough benefits<br />Cost<br />

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What’s your USP?<br />(Unique Selling Position)<br />What makes you different?<br />How would I benefit if I chose your services?<br />You better have answers when the questions begin!<br />

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You Must Avoid Appearing Like Everyone Else<br />What Makes You Different?<br />How do you demonstrate your <br />Unique Selling Position? <br />Page 10<br />

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“What we hear and see over a prolonged period of time we tend to believe is true”<br />Spatial Repetition helps embed your <br />message in the heads of your target <br />audience and creates TOMA (Top Of Mind Awareness).<br />

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Your name should become the name buyers and sellers think of when it comes to Real Estate<br />TOMATop Of the Mind Awareness<br />

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Slogans from the Past<br /><ul><li>Plop, plop, fizz, fizz oh…

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How do you spell relief?

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When it absolutely positively has to be there overnight…

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It takes a licking but keeps on ticking

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The Un-Cola.</li></li></ul><li>Who Are They?<br />Page 10<br />

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Express Your Uniqueness<br /><ul><li>Create a slogan

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Incorporate your name with your slogan

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This ties your name visually with what makes you unique

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It will give you a position in the customer’s mind</li></ul>Page 12<br />

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Where as some clients / consumers prefer seeing a photograph of the agent, it is not always necessary and sometimes can distract from the actual message.<br />

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Tools for Branding<br />1. Logo Design <br />www.eLance.com<br />www.HobbsHerder.com<br />www.gimp.org<br />www.Picnik.com<br />2. Slogan<br />3. Your Real Estate Image<br />4. Color and Style <br /> 5. Personal Appearance<br />6. Stay Consistent <br />Branding presents consumers with a consistent vision or image*<br />Page 12<br />

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Self Evaluation<br />Who is the your specific audience?<br />What image do you want to project?<br />What Does your Brand say?<br />Are you accomplishing your goal?<br />

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Three Secrets of Success<br /><ul><li>The first secret is to anticipate your consumers needs… and deliver just a little bit more than they expected from you

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The second secret is to know your market and be ready to provide solutions when problems arise.</li></li></ul><li>Three Secrets of Success<br /><ul><li>The Third Secret: Accept that we have entered the age of the never satisfied consumer</li></li></ul><li>Some Examples of Slogans<br /><ul><li>The Neighborhood Specialist

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The Condo King

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The Affordable Housing Specialist

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Second Home Specialist

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Investment Property Specialist

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First Time Buyer’s Expert

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Lots Exclusively

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For Personalized Service</li></li></ul><li>Section Three<br />Learning Objectives<br />Upon completion of this section<br /><ul><li>Participants will be able to describe and select their niche market.</li></li></ul><li>There’s a Market for Everyone<br />Whether you are associated with a full service percentage based brokerage; an Ala Carte provider, a Discount Brokerage or a real estate consultant there is an abundance of ready and willing buyers and sellers seeking the type of services you provide.<br />

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The Best Way to get Started is to:<br /><ul><li>Decide what you like to do best

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Decide what you’re best qualified to do

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Decide which geographic area to work

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Find out what people want so you can better serve their needs</li></li></ul><li>To get what you want, your customers must get the feeling:<br /><ul><li>You really like what you do

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You do what you do efficiently and effectively

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You care about them

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You are providing them with quality services</li></li></ul><li>Marketing Involves Three Major Steps<br /><ul><li>Informing: Explaining what services you have to offer

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Persuading: Demonstrating the benefits of your services or products

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Reminding: Using spatial repetition to tell them over and over again</li></li></ul><li>Be Creative!<br />Your Turn: Name some others<br />

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List Your Creative Ideas<br /> ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________<br />

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Niche Marketing<br />What is a Niche Market<br />Specific Group versus General Public*<br />Advantages<br />Easier to make personal contact<br />Database management<br />Focus on marketing dollar<br />Disadvantages<br />Smaller pool of prospects*<br />May alienate some consumers (luxury homes)<br />Page 13<br />Page 13<br />

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Questions About Your Niche<br />What do I know about my niche?<br />What do we have in common?<br />Am I comfortable with them?<br />Where can I find them<br />How do I reach them?<br />What do they need?<br />How can I help them, where other’s can’t?<br />If I select a niche can I change it?*<br />Choosing a niche is not like choosing a geographic farm*<br />Page 14<br />

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Mix Things up a Little<br /><ul><li>A combination of direct mail and e-mail is good for niche marketing because it delivers timely and useful information to specific markets

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Postcards are effective and inexpensive direct mail pieces. They can be used in between major mailings </li></li></ul><li>Begin with Points of Difference<br /><ul><li>Establish Your Credibility

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Deliver a Pre-Listing Package

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A personal letter from you

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Testimonial letters from Raving Fans

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Production figures

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Number of families helped

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Feature your Performance Statistics</li></li></ul><li>To make sure the competition doesn’t win over your clients; provide them with an Award Winning Experience<br />

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Let’s look at some good vs. bad marketing ideas<br />

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How Important is Photography?<br />

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Personal Brochures<br /><ul><li>A recent picture

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A head and shoulder shot with your eyes prominent

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Associations, education, accomplishments

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Elected positions, awards & honors, and family background

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More importantly, don’t forget your Website and your E-mail address</li></ul>Page 16<br />

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Use Color<br /><ul><li>Color attracts 50% more attention than black and white.

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Black and white attracts more attention than not mailing at all

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If the content is consistently superior they will look forward to receiving your mailers.</li></li></ul><li>Neighborhood Expert<br /><ul><li>By delivering quality information, you become their real estate expert

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Headlines draw attention and cause prospects to read your e-newsletter

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You only have 3 to 5 seconds to capture the readers attention

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Keep your opening short and interesting.</li></li></ul><li>Introduce yourself as the Neighborhood Real Estate “Expert”<br />Palmerston North Subdivision<br />2008 Marketing Update<br />Last year 36 homes sold for an average of $249,000 at 98% of the asking price. The average square footage was 2,590 and the average days on the market were 110. Presently there are 2 homes for sale and 1 under contract.<br />

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Introduce your Services to your Sphere of Influence<br />Valuable Coupon<br />ONE FREE HOUR OF REAL ESTATE CONSULTATION<br />Coupon is Fully Transferable Valid until 12-31-2009<br />$125.00<br />Value<br />

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Technology<br /><ul><li>Get out of your comfort zonetry something new

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Today’s buyers and sellers are 35, today’s agent is 55. Our buyers and sellers grew up with technology and expect their agent to be tech-savvy. </li></ul>Page 18<br />

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What is Technology’s Role<br />It’s a tool to provide better service<br />It’s a Lead Generator <br />Advertisement Necessity <br />We only use 10% of our available software on our PCs<br />

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The Human Factor<br />Don’t assume they prefer e-mail<br />Get a face to face meeting as soon as possible<br />Meet with Client when getting Documents Signed<br />Remember technology is a tool and not a replacement for YOU!<br />Be Patient<br />Use the PHONE<br />

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Who is On-Line?<br />NAR Statistics (2006) On-Line Consumers<br />38% are between 25-34 years of age<br />67% are Married<br />17% are Single Females<br />8% are Single Males<br />Median income is $70,700 per year<br />

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What are they looking for?<br />93% looked for Homes <br />21% Area Information<br />5% Real Estate Company<br />3% Real Estate Agent<br />Webpages should be your electronic brochures and relocation packet*<br />Webpages should not contain a log of movement…*<br />

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On-Line Personalities<br />Easily Dazzled<br />Information Hungry<br />Usually between 23 and 44 years old<br />Want Constant Interaction<br />Typically not very loyal<br />Easy to get information to<br />Want Tech Savvy Agent<br />

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Permission Selling<br /><ul><li>Starting now begin collecting e-mail addresses and permission to use them from everyone you meet

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A good way to collect e-mail addresses is through your web site. Have an opt in feature.

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Ask prospects to allow you to send them monthly articles of interest.</li></li></ul><li>List Building<br />Go to:<br /><ul><li>http://www.constantcontact.com

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Browse the selections and tutorials to acquaint yourself with some innovative ideas on how to use mass e-mail newsletters and bulletins.</li></li></ul><li>NAR Opinion of CAN SPAM<br />E-mail is to be used for:<br />Responses to Inquires<br />Contact Clients and firms involved in a transaction<br />Remain in contact with former client<br />Promote Property Listings<br />

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Virginia Required Internet Rules (18VAC135-20-190)<br />Agents name and licensed status must be disclosed on all solicitations or business related pages and e-mails.<br />Brokerage Name, address and phone number must appear on all webpages in the first viewable section.<br />Both must disclose all the locations in which they hold a license.<br />

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Internet Rules I<br />All internet advertisement is under the direct supervision of the Broker.<br />Instant messages are exempt so long as previous disclosures have been made.<br />Chat Rooms – Disclosure must be made in ever instant that business services, recommendations or solicitations is to be made.<br />

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Internet Rules II<br />Banner Ads – Disclosure link must be disclosed on the banner itself, can be a hyper-link.<br />Cannot show listings “For Sale” if they are under contract or sold.<br />NAR Rule – “REALTOR” cannot be used with any adjectives <br />

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Webpage Example: Good<br />

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Brand new look...Same great information<br />Correct and up-to-date information is your most important weapon when you sell your home. That’s why Brooke Miller has updated the look of her award winning web site: <br />www.BrookeMillerHomes.com. <br />It has a great new look but it is still filled with the information you need. <br /><ul><li>Visit the “Communities” tab for her latest Neighborhood Market Reports.

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Visit the “Properties” tab for recently listed and recently sold properties in your neighborhood.

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Quickly and easily order one of Brooke’s Special Reports.

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Easily contact Brooke via e-mail.

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And so much more.</li></li></ul><li>Brooke Miller Real Estate, LLC<br />

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Webpage Example: Not So Good<br />Even if you’re proficient with the computer, you should consider hiring someone is to do your webpage*<br />

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Working it Out<br />Refer to budget and make adjustments<br />Don’t be a “lone ranger”<br />Get help, as needed:<br />Other agents in your office<br />Virtual Assistants<br />Industry Blogs<br />Past Clients<br />Others?<br />Make sure you have current and accurate information and data*<br />Page 25<br />

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Social media is people talking<br />with other people on the internet!<br />

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Swanepoel Reports<br />“Failing to make a decision (to change) is simply not an option – the market will make one for you.”<br />(2008Swanepoel Report)<br />“Generation X and Y are growing up with a poor perception of the real estate industry.”<br />“They believe they can and should fix it.”<br />(2008 Swanepoel Report)<br />www.TheAgentTrainer.com<br />

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The What and Why of Real Estate 2.0<br />www.TheAgentTrainer.com<br />

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Rule Number One<br />Send e-mail only to those who have “opted-in”<br />

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Marketing is a Conversation<br />www.TheAgentTrainer.com<br />

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The What and Why of Real Estate 2.0<br />Swanepoel: “87% of Brokers feel that servicing smarter and more informed consumers as their largest concern”<br />Marc Davidson, 1000 Watt Consulting: “How long can a trillion dollar industry sustain disregard for the iPOD, MySpace, Facebook, YouTube, Starbucks, text messaging and brand conscious consumers?”<br />www.TheAgentTrainer.com<br />

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Real Estate 2.0 Vernacular <br /><ul><li>“Friends”

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IM or Instant Messenger

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Links

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Lurkers

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Mashups

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Permalinks

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Trackbacks

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Podcasts

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RSS</li></ul>Blogs<br />Social Media<br />Wiki<br />Widget<br />Aggregation<br />Avatars<br />Posts<br />Comments<br />Subscribing<br />Tags<br />

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Must Read Sites <br />www.AgentGenius.com<br />www.Inman.com<br />www.VARBuzz.com<br />http://sethgodin.typepad.com<br />http://narblog1.realtor.org<br />Your Local Newspaper<br />You Local Association&apos;s Blog<br />

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www.LowesRealtorBenefits.com<br />

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www.postlets.com<br />

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Video<br />With video, you can make your <br />“first impression” perfect every time!<br />

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FlipVideo<br />

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Video – Where and What<br />Create videos for multiple uses<br />Corporate welcome message<br />Your clients recommending you<br />Product Demo<br />Listings<br />Communities<br />Niches<br />

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Video – Where and What<br />Redistribute videos in multiple venues<br />Website<br />Yours and others<br />Newsletters<br />E-mail campaigns<br />CDs<br />

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Blogs<br />Video<br />Podcasts<br />Photo Sharing<br />Mapping<br />Social <br />Networks<br />Resources<br />

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Benefits of Blogs<br />Blogs are effective at<br />Spreading a message<br />Establishing credibility and authority<br />Connecting groups of interested readers<br />Networking<br />Giving a brand a human face<br />Reaching a wide audience<br />Getting exposure<br />

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How Do You Get Started?<br />Find a Publisher – if you want to publish<br />Wordpress<br />Many websites offer one-click install of blog software<br />Activerain offers a free blog to REALTORS® at www.activerain.com<br />

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Publishing with RSS<br />How are they read?<br />Through Internet Explorer<br />Through E-mail<br />On a BlackBerry<br />On a computer<br />Through Instant Messaging<br />Widgets<br />

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Promoting your Blog<br />On all marketing materials<br />Website<br />E-mail signature <br />Brochures<br />Notes to clients<br />Share articles<br />Have property search on blog<br />

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www.TopProducer.com<br />Page 24<br />

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Active Agent for Outlook<br />http://www.sonomaenterprises.com<br />

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Pat Zaby’s Respond Software<br />www.PatZaby.com<br />

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Microsoft Outlook<br />

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www.RealFutureCRM.com<br />

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Rule Number Two<br />Always honor user requests to opt-out. <br />Make it a simple process and include <br />a Web site address in every message <br />that allows the user to opt-out. <br />

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Rule Number Three<br />Confirm everything by e-mail: The initial opt-in, requests, and changes <br />in the customer profile. <br />

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Rule Number Four<br />Avoid asking for too much information. Instead, structure your program so that you gain more information over time.<br />

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Rule Number Five<br /><ul><li>Give and you shall receive

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Customers give you their e-mail address in exchange for something of value

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Be creative and follow through by delivering real value to the recipient with every message.</li></li></ul><li>Rule Number Six<br />Your list is an asset that only <br />you can use; do not sell or rent it. <br />

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Rule Number Seven<br /><ul><li>Develop and post a privacy policy for your Web site

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It reinforces how valuable they are to you and fosters confidence in your integrity.</li></li></ul><li>Rule Number Eight<br /><ul><li>Respond to customer e-mail inquiries promptly.

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Believe it or not; the average response time to return an e-mail is 54 hours</li></li></ul><li>What did you learn today that can enhance the way you promote and grow your business?<br />