Will these techniques work for a Realtor

9 replies
I just stumbled onto this site and like what I see. I'm curious about one thing though: all of this seems directed toward people who do internet marketing. I'm a Realtor and want to know if these techniques will work for me with direct mail. I have only a few specific goals:

1. Write letters which stimulate people to take action and contact me directly via phone.

2. Move only qualified (people with the money and desire to act now) to contact me.

3. Ensure that the people who do contact me know that I work only with motivated buyers.

4. Communicate only with specific demographic groups who I believe can act (doctors, lawyers, hi-net worth individuals). I know this is more a function of my mail list but will these techniques be successful with this group?

I'd like to hear your thoughts on this.

Thanks
Steve
#realtor #techniques #work
  • Profile picture of the author Kevin Lam
    In short, yes. Just make sure you're tracking everything. When doing direct mail, try to do split-test with a small group. Try to see which ones get a better response/conversion before going full fledge.
    {{ DiscussionBoard.errors[675541].message }}
    • Profile picture of the author Kay King
      In a good market, those techniques might work.

      I don't think it's effective to target random high earners - these folks usually have bought before and have an agent they are loyal to or an agent in their neighborhood or social club.

      More effective is to target a neighborhood of homes with a long term campaign (like a year) of bi-weekly letters giving real info on comparables available, sales in the area, staging tips, etc.

      I've done this myself with a partner years ago and it worked well for us in a good market. We were lucky as our first two listings in that target area sold in days and that gave us a big boost in business. That was years ago but when we tried it again in a different area after an economic downturn, it didn't work as well and was marginally profitable considering the time involved.

      Currently the RE competition is fierce and even top agents who sell millions a year (before this market) tell me they are taking on anyone interested in buying either now or in the future. They hope to gain future sales when the economy eases by creating a bond with "lookers" now. A friend who worked in the past only with high end properties now gets her sales from first time buyers at the low end of the price range.

      Working with only pre-qualified and ready to buy customers makes sense in a good market. Right now, unless you have the experience and can prove you are getting sales now, it may not be the best strategy to have such high requirements for customers.

      What's important is to do anything and everything you can think of these days. A good direct mail campaign could get your name in the minds of people and if you seem to know what you're talking about, it could help in the future if you persist with it.

      Developing a strategy is important but I think you need to base the plan on what sector of the market in your area still has activity rather than what price range and type of buyer you would prefer to work with.

      My broker once laughed at me when I took on the listing for a development of low end building lots for sale. They were priced at 8-12K each and way below the price range I usually worked in. He thought it was a waste of time but changed his mind when I began selling 20-30 of them a month. You have to work where the money is still flowing - no matter what the price range is.

      kay
      Signature
      Saving one dog will not change the world - but the world changes forever for that one dog
      ***
      Please do not 'release balloons' for celebrations. The balloons and trailing ribbons entangle birds and kill wildlife and livestock that think the balloons are food.
      {{ DiscussionBoard.errors[675736].message }}
    • Profile picture of the author elsvirtual
      You may want to look into direct response techniques to beef up your campaign. Your techniques may work but you've got to word them right and have at least a 2 step system in place to prequalify those leads.

      But congrats on thinking out-of-the-box. Notice how most realtors do the same thing every other realtor out there is doing? It's a monkey-see, monkey-do mentality out there in realty world.

      I just had a client who places ads in Harmon Homes every month. In March, she decided she wanted something different. We decided on a classic direct response advertorial. She was nervous because it was so different but she called the day after the ad ran so excited because her website was getting so many hits.

      And of course, the people hitting the website were leaving their contact information as well. So now she's got a ton of new leads to market to...all from one little ad.

      Welcome to the world of marketing!

      Evy
      {{ DiscussionBoard.errors[675744].message }}
  • Profile picture of the author comusher
    Yes they will work for you but you need to pay attention to who you are sending and what.
    I worked for a realtor and we spent a considerable amount of time creating a database of homeowners in our area. You would be surprised with home many deals and listings we were able to get by contacting them and saying "we sold your neighbors home" and in rental areas "a great new rental property on the market"

    Track what you do so you know ones worked and which did not.
    {{ DiscussionBoard.errors[675972].message }}
  • Profile picture of the author wrcato
    You bet. It will work very well with the real estate market, Especially with the market the way it is now. Do you plan on writing your own copy?

    I'll Write Your Sales Letters. Your Auto-Responder Letters. Even Your Letter to your Mom.
    And Get The Results YOU Want!
    Gaurenteed.
    Ok, that sound like I am begging.
    Signature

    William Cato
    Sit Down, Have A Cup Of Coffee
    and read my blog http://www.2ultra.com
    follow me on Twitter
    www.twitter.com/wrcato

    {{ DiscussionBoard.errors[676026].message }}
    • Profile picture of the author steve_sellers
      Thanks to everyone for their comments. I felt the direct mail approach would be successful if the right message was used. Now I'll order a couple of the books in forum discussing best copywriting books and begin the process.

      Best wishes,
      Steve
      {{ DiscussionBoard.errors[679025].message }}
      • Profile picture of the author jmidas
        Steve, what you are describing is simple direct reponse marketing. And, yes, it does work. My advice, if you are unfamiliar, is to go out and get as much Dan Kennedy stuff as you can find. You dont need his expensive courses right now - just his paperback books at Amazon or BN.com. They are only 10 bucks each, buy all 6 or 7 that he has and devour them.

        And to Kay: good marketing works in any market - up or down. To say that direct response only would work in an up market is simply wrong. No doubt, you will have to work a little harder. But, up or down market, DR beats any other marketing hands down. Especially for real estate.
        {{ DiscussionBoard.errors[679042].message }}
  • Profile picture of the author Keeslover
    Steve, remember it's all about the client and what you can do for him...not about pictures of you and your name plastered everywhere like all the other realtors do. Focus on the benefits you bring and you'll stand out naturally anyway.

    If you're interested, PM me and I might have a couple of ideas for you.

    Melody
    {{ DiscussionBoard.errors[680194].message }}
  • Profile picture of the author TheMagicShow
    If you understand direct marketing and internet marketing -- then any niche or industry can be your customer. Learning both of these crafts and studying the masters from each unique style can -- and will separate you from your competition.

    The most important thing is to always test, make sure that your actions are getting results.
    Signature

    " You can either give a man a fish and feed him for a day OR teach him how to catch a fish and it will feed him for a lifetime"

    {{ DiscussionBoard.errors[680232].message }}

Trending Topics