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Tag Archives: Claremore Real Estate

Your Reputation Counts

For good or bad, our behavior becomes our reputation. What we do communicates to others who we are. As much as the marketing world wants us to believe we can all spend enough money to define the reputation we want the world to see, it is not that simple.

In high school, one long-ago Fall in Bear Creek, Alabama, a classmate kept telling our basketball coach about all the things he was going to do to prepare for the upcoming season.

Note, it was not what he had done yet (which he could have been doing all summer). Instead, he was essentially bragging about what he was going to do.

Coach Roberts listened calmly, then replied, “Don’t tell me, show me.” That was all he said. Then he turned and strolled away. Coach wanted to see that actions matched the promises. The words alone did not make the case or sell the idea. And too many promises of great effort go unmet.

Of course, you already know actions speak louder than words. I’m guessing my classmate did too, but he still needed a reminder.

LOUDER ACTIONS

However, to expand that concept, I would like to submit that many actions speak much LOUDER than other actions. For instance, which are you known for?

•Posting listings… or marketing and selling listings?

•Blame the economy… or work daily to overcome the economy?
•Blame the homeowner… or lead and manage the property’s sale?
•Monitoring the project… or managing the project?
•Doing whatever the client or colleague asks… or finding out what they really need?
•Closing sales… or helping clients find the right service or product?
•Work that is “good enough”… or work that is really right?
•Learning about the client’s needs and goals as you work on the project … or before you start the project?
•Acting professional… or being professional?
•Great talker… or great “doer?”
•Nice person… or polite, effective professional?
These things are not that different, yet they are very different too. Which do you want to be known for? What do your actions communicate about you?

If your reputation is not what you desire, are you doing anything different to change or improve it? If not, why not?

YOU KNEW THIS, BUT…

I’m guessing I’m not telling you anything you don’t know and have not heard for years. Yet, if this is such common sense, why we do we see so many so-called professionals not follow this common sense approach?

My opinion, for what it is worth, is that this approach takes work. Too many are looking for short-cuts or they are willing to accept someone else’s advice that you can write a check and get a short-cut. Work is a four letter word. It is also an action that creates a great reputation. However, not everyone is interested, even if their reputation suffers and they are trying to cover that issue with slick material and fancy resumes.

Remarkable behavior, over time, builds a strong reputation. Once built, reputations can be difficult to change. That can be good or bad, but either way you are building that reputation every day. Even from inaction.

Be sure you behavior is positive, professional, and so client and company focused it leads people to literally remark to others about the great work and deeds you do. This will communicate your value more than any words!

Posted by Glenn Phillips

 

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Buyers Aren’t Buyers Long!!!

Of late I have heard many agents talking about their buyers or how many buyers they have. First of all, no one owns any buyers. Buyers are free to choose to buy from any agent. Agents may think they have buyers but if they leave the office after or showing appointment that didn’t result in a contract being written, they are ‘on the loose’.

Despite our best efforts to instruct them otherwise, they will call on FSBO’s, call another agent off a sign, (especially if they can’t get a hold of you) or they might drive by an OPEN HOUSE and decide to go in. What harm could that do? This story repeats itself almost daily. I hear lots of whining about disloyal customers or ‘buyers are liars’.

Even car salesmen understand that you rarely get more than on shot at a customer. That’s why they press so hard to sell you something when they have the chance. The point is, most people who are serious buyers aren’t going to last long in this market of abundant inventory, good values, and low interest rates.

The trick is to separate the prospects from the suspects and work with the prospects. This is an important skill to acquire and sometimes the agent needs to know how to downgrade a prospect to a suspect or to the lowest bottom feeder and time waster, ‘the lookyloo’.

I might add that sometimes someone that makes a big deal out of being a cash buyer may have to be downgraded. I have found them to be really difficult.

Allen Stout, Broker

 
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Posted by on March 15, 2011 in Real Estate

 

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Is Classified Advertising Dead?

Published on Friday, February 25, 2011, 2:52 PM Last Update: 8 hour(s) ago by Craig Proctor
Category: All Articles » Marketing and Farming
You’ve probably heard it said that classified advertising is dead or at least dying.

Major newspapers are suffering a decline in the number of subscribers to the daily print editions. These days, with free lead generation vehicles such as Craigslist so readily available, many agents actually believe it’s criminal to spend money on classified ads, especially when the number of readers is declining. Seems logical, right?

Well don’t count on it. I’m still a big believer in classified advertising as a source of good quality leads, especially for those buyers moving to a market and first time buyers. Why? Because it still works. And it is still the least expensive way to generate leads from people ready to buy real estate now. This is especially true if your major newspaper also posts your classified ad on their website. Now that’s the best of both worlds. Over the years, I’ve found that many people moving to our market not only search online, but either subscribe to the major newspaper or buy it on newsstands. And my classified ads are designed to get those buyers to raise their hands and contact you for more information.

The mistake many agents make is looking at their advertising dollars as a fixed expense of their business like rent, but this is the wrong way to look at it. If you ran a $300 ad and it got you $6,000 in business, did the ad really cost you anything? Of course it didn’t – it actually earned you $5,700 (i.e. $6,000 minus $300). If you hadn’t run the ad, this decision actually would have COST you $5,700.

Similarly, if you ran the same ad on Craigslist and you got $2,500 in business, while this would be great, it still wouldn’t be better than paying to run the $300 ad because the paid ad actually returns you more money every time it runs.

You don’t need to become a financial wizard to do this kind of analysis. It’s really very straightforward. The most important thing is that you’re aware of the implications of what you’re doing so you can make informed and financially profitable decisions about the ads you run.

Of course the only way for you to know whether the money (and time) you spend in any of your marketing is costing or profiting your business is to test, so every classified or Craigslist ad you run must have a direct response component to it so you can measure the results via your hotline and/or website.

You should test not just which ads to run, but also where, which days, how often, etc. You have to look at a number of factors together in order to get a full and accurate picture: media cost, # of responses and quality of responses (i.e. how many of the prospects from this ad actually turn into clients.)

There’s no argument that all of you should be taking advantage of the free lead generators, but that’s definitely not all you should be doing. The nature of these free vehicles is that the leads you will generate will not be as qualified – you’ll have to work harder (spend more time) sifting and qualifying them, so to a certain extent it’s a trade off. The bottom line is that you should be both taking advantage of Craigslist AND investing in classified ads.

Remember, not all ads work all the time in all markets. So testing small is critical to maximizing your returns – both in the free and paid vehicles. When you do invest in paid classifieds, remember to ask each of the publications about remnant space. This is space they otherwise cannot sell and they would rather run your ad with some revenue than run unpaid filler. Take your time and investigate your options and you can profitably generate lots of leads no matter where you run.

 
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Posted by on March 8, 2011 in Published Articles, Real Estate

 

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