Wednesday, May 25, 2011

Some Thoughts on Leads

Interesting points from Stephen Pacinelli speaking at the RE/MAX R4 Convention.
"It’s not what you say about you, but what other people say about you that
counts, testimonials and reviews rule the world, and that’s what
‘world of mouth’ is all about." says Stephen Pacinelli
  • Lean into testimonials and reviews – According to Nielsen 
    Research Company, 90 percent of people trust peer recommendations,
    but only 14 percent trust advertisements. 

  • Be aware of your rankings – If consumers are weeks from
    starting the buying or selling process, chances are they’ll start
    searching for an agent on Google. If they search "real estate agent,"
    one key result in the list of suggested searches is "real estate
    agent reviews." These sites are in their infancy, but they’re not
    going anywhere.  Setting up profiles on most of these sites is free.

  • Make reviews part of your process – Ask clients to visit your
    profiles on the one or two websites you've chosen to focus on 
    after each transaction closes. Pick just one or two, because clients
    aren’t going to visit seven websites to write reviews.

  • Use – Which is the best agent review site to
    focus on? It’s hard to say, but can give you 
    current information about how much traffic these sites are
    receiving. Create profiles on the one or two that are most popular.

Tuesday, May 3, 2011

Property Management

The secret is out, real estate prices declined a bit over the past 4 years or so!

No doubt the past few years have seen a few changes to our market.  While most of the changes would fit into the "I didn't need that" category, a few opportunities have come to light.

One of these, is the rental market and the opportunity to provide these services for your clients.  In PA, the services need to be provided through a broker, but therein lies a great opportunity for the agents of today.

Your office provides the framework for the property management, including all the not so fun work of collecting rents, calling in repairs, etc.  You get to:
  • Increase your range of services - It is pretty simple here, the more topics and tools you can offer someone the more people, clients, and profit you stand to make.  The rental market is starting to grab the headlines, be prepared!
  • Engage with future buyers - The vast majority of the rental market includes those who want to buy, but just are not ready.  With a well thought out, but simple follow-up plan, who might these folks turn to?
  • Learn the property management business - so when you're ready to build your investment portfolio you or your office will have the right tools in place.
Opportunity lurks out there, are you or is your office providing the tools for today's client?