Level Up Your Business

Reach out to your past buyers

This is an interesting one. Many of you wouldn’t consider calling a buyer who you just sold a house to in the past few years to see if they want to sell. It would almost seem crass but let me change your thinking. Chances are, they have no idea how much their house value has increased over the past year or so. A touch-base call to see if they are still happy in their current house will open a lot of conversations and you will be surprised how many people might entertain making another move once they know how much equity they’ve built up recently. Once people move into a house, they can become fickle. Have you ever seen a new subdivision where before they even lay down the grass the homeowners are putting their house up for sale? It happens. Call everyone you’ve sold a house to in the past couple of years and ask if they are still happy in their house. If they say yes then plant the seed about how much their house is worth now. Don’t be surprised if they call you back in a week or two after they’ve pondered your conversation to ask you to come by to do a CMA because they may consider moving. This is a great strategy to uncover listings and possible referrals. Our business is all about relationships, so stay in touch after the sale.

Systemize but individualize your communication

It is important that we use every technology at our disposal to stay in touch with our sphere. First off, every person in your CRM system should be set up on an automated email marketing campaign. Perhaps you are sending potential buyers updates on all new properties that fit their profile. Perhaps you are sending potential sellers updates on new competing listings in their area. Perhaps you are sending past clients market updates on recent sales in their area. These campaigns should be templated and automated so you aren’t constantly reinventing the wheel. The beauty of CRM systems is that you can easily personalize your emails to the specific recipient, so you only send them high-value information that is important to them and you can reference their name throughout the email to make it sound personal.

Engage frequently with buyer prospects

As a first step, all potential buyers should be receiving property emails from you with new listings that meet their profile. Sounds simple, but most agents have a “set it and forget it” attitude. They set the buyers up to receive property updates and then expect buyers to call them when they see something they like. I consider this order taking, not sales. How do you know if the properties you are sending them still meet their needs, or that their needs haven’t changed since your original conversation? When you set potential buyers up to receive new listings, make sure you call them periodically to make sure the properties you are sending them fit their criteria. Perhaps they want you to send emails more/less frequently, perhaps they would prefer a different price range or location. Having these ongoing conversations builds trust and keeps your buyers’ dreams alive. You are constantly replanting seeds. Emails are a great first step, but phone calls are the personal connection that take it from a transaction to a relationship.

Step up your farming efforts with QR codes

So many agents are operating “hit and run” businesses these days where they buy leads, close the transaction, and move on to the next client. They are destined to repeat year 1 of their business repeatedly. Tremendously successful agents spend time, money and effort cultivating their reputation in their chosen geo farms. It is a longer-term approach to a successful business, but it is worth it. This is the difference between marketing and prospecting. It is so much nicer when potential clients call you because they recognize and trust you from your consistent marketing. Having said that, now is the time to get more creative to combine your print and digital marketing campaigns. Have you noticed that QR codes made a resurgence during the pandemic? Restaurants started using QR codes to direct diners to online menus rather than using printed menus. Store fronts posted QR codes on their doors to direct people to their websites for online shopping during closures. People have become “QR code curious” these days and they are so easy to use. Agents are adding QR codes to their printed postcards as an easy way to direct homeowners to a specific website for listing details, or to a branded CMA page to get a home value, or to a social media platform. Simply google “QR Code Generator” for free options. It is a great way to modernize and marry your traditional print marketing with cool digital strategies.

Shoot more videos

Video brings your digital marketing to life. It is easier to build and maintain a relationship with someone when they can see you to make the connection. Social media platforms prefer video, so if you want to increase your traction on social media, video should be a main component of your marketing efforts. The great news is that you can take great video with your phone, a gimble and a microphone. Here are some examples:

• share your virtual open house videos
• share a coming soon video standing in front of a property you just listed
• cherry pick the best room in a new listing (e.g. great kitchen, games room, or staycation backyard) and invite people to contact you if they would like to see more.
• share testimonial videos from your clients
• share videos of you interviewing local merchants, so people can get a sense of what it’s like to live in the area
• share videos of you interviewing suppliers (e.g. stagers) with helpful tips for buyers and sellers

In my view, video is no longer optional it’s mandatory. It may be time to upgrade your phone with a better camera. Lighting and audio are critical. Remember, your reputation goes out with every video, so practice, practice, practice

Double down on client reviews

We all have raving fans, but most of us do a terrible job at collecting client reviews and showcasing them to the community. Online reviews are critically important. Research shows that 88 percent of consumers trust online reviews as much as they do recommendations from friends and family. Let’s face it, we all research everything online before we buy. It is no different when someone is considering hiring an agent. They do their homework first. What will they find about you online? This underutilized gem may very well be the most important way to indirectly increase your conversion rate from prospect to client. How wonderful would it be to go on a listing appointment and discover the client was pre-sold on you before you got there. How do you get reviews?

• Ask for them. Make it part of your closing checklist.
• Make it easy – send them a direct link to post a review.
• Follow-up – people are busy and it may slip their mind. If they don’t post a review, remind them in two weeks.

Save more money

In this bumper year you will bring in a lot of money, but you must remember that this gravy train won’t last forever. Instead of taking on more debt, bigger houses, and fancier cars, consider paying off your debts and putting money into your RRSP/401K. Instead of buying a bigger house, why not buy an investment property to set you up for financial freedom? All too often real estate agents reach out to us to ask for help because they are tangled up in debt, or equally as bad, they are behind in their taxes. 2021 can be and should be the year that you get your financial house in order, wipe out your debt, and make substantial financial investments in your future. Simply put, make hay while the sun shines, but put money away for a rainy day.