Mastering Real Estate Marketing: Listings and Lead Capture

Chapter: Listing Marketing and Lead Capture

Introduction

This chapter delves into the strategies and tactics required to effectively market real estate listings and capture leads. It covers marketing methodologies to attract buyers and sellers.

Marketing Your Listing: Selling the Property

The ultimate goal is to sell listings quickly, at the best possible price, and with minimal complications. Marketing efforts, though aimed at attracting buyers, must prioritize the sale of the listed property.

Engaging Other Agents

Fellow real estate agents are a valuable resource, as they work directly with potential buyers and seek efficient, smooth transactions.

Methods for Engaging Other Agents:

• Networking: Engage in networking within your Market Center.
• Digital Brochures: Convert property brochures to PDF files and email them to:
  • Agents in your Market Center
  • Leading agents in the area
  • Agents targeting specific demographics
• Open Houses & Meetings: Host broker open houses, peer group meetings, or networking events at the listed property.
• Agent Caravans: Participate in agent caravans.
• Educational Events: Organize agent-focused classes or seminars within the property.
• Incentives: Offer higher commission splits or cash bonuses to the agent who secures a deal.

Leveraging the Internet

Online marketing is pivotal for listing exposure.

Optimizing MLS Listings:

• Ensure the MLS listing is comprehensive and accurate, with high-quality images.
• Image Quantity: Aim for a minimum of six (6) images, with top agents often using fourteen (14) or more. Research suggests a positive correlation between the number of images and click-through rates.

Virtual Tours & Videos:

• Implement virtual tours and videos. Listings with virtual tours often rank higher in search results on listing aggregators.

Listing Syndication:

• Utilize listing syndication services to distribute listings across multiple platforms.
• Example Platforms: Keller Williams Listing Service (KWLS) and Realtor.com syndicate to platforms such as GoogleBase, Trulia.com, MSN.com, and The Wall Street Journal Online.

Creating Dedicated Websites and Blogs:

• IDX Integration: Participate in IDX (Internet Data Exchange) to allow website visitors access to local MLS listings.
• Featured Listings: Highlight listings on the homepage.
• Individual Property Websites: Create websites for specific properties (e.g., 123mainstreet.com).
• Property Blogs: Create blogs for listings (e.g., 123mainstreet.blog.com). Caution: Avoid disclosing information that could negatively impact negotiations.

Yard Signs

Traditional yard signs remain effective, especially when strategically placed.

Best Practices:

• Visibility: Ensure the sign is visible and legible.
• Corner Lots: For corner lots, place a sign on each street.
• Maintenance: Keep the sign clean and in good repair.
• Brochure Availability: Ensure the brochure box is consistently stocked.

Sign Riders:

• Use sign riders to attract attention.
• Example Messages: “Complete Remodel,” “Home Warranty,” “Move-In Ready,” “Coming Soon.”

Marketing for Buyer Business

Listings can be leveraged to generate leads beyond the specific property. The goal is to attract potential buyers even if they are not interested in the initial listing.

Creating Compelling Marketing Materials

Ensure marketing materials are attractive and appealing to capture attention.

Key Considerations:

• Staging: Clean and stage the home before photography and MLS listing.
• Design: Use design principles to create strong marketing flyers and postcards.

Strategic Information Disclosure

Be strategic about the information revealed in marketing materials to encourage inquiries.

Buyer Qualification Factors:

• Attractiveness of the house
• Suitability to their needs
• Location
• Affordability

Balancing Information:

• While attractive photos and feature lists are essential, avoid providing excessive details that might lead to disqualification.
• Example: Omitting the price and address in initial marketing can prompt potential buyers to contact you for more information.

IVR (Interactive Voice Response) Systems:

• Use an IVR system to provide property information (price, address) via a recorded message.

  • Formula: Lead Quality = f(Attractiveness, Information Desire); where f represents a function.

MLS Data

Provide comprehensive data on the MLS, as buyers at this stage are typically working with an agent.

Follow-Up Strategies

Consistent follow-up is crucial for converting leads generated through marketing efforts.

Addressing the “No Listings” Scenario

Agents without listings can still leverage marketing opportunities.

HUD (Housing and Urban Development) Homes

Market HUD homes, which are generally open for any Realtor to advertise (subject to specific regulations).

Benefits:

• Quick Sales: HUD homes often sell quickly.
• Opportunity to Show Similar Homes: Even if the HUD home is under contract, agents can show prospective buyers similar MLS listings.

Collaboration with Other Agents

Partner with agents who lack the time or resources to market their listings effectively.

Important Note:

• Always obtain written permission from the listing agent before advertising their properties. Failure to obtain permission is a violation of MLS rules.

Systematic Marketing

Developing a Coherent Marketing Plan

Create a structured marketing action plan with clearly defined goals. Integrate marketing activities with prospecting efforts.

Foundational Marketing Plans:

• The 8 x 8: Intensive campaign for new contacts.
• The 33 Touch: Ongoing relationship building.
• The 12 Direct: Targeted marketing to unfamiliar contacts.

Mets vs. Haven’t Mets

• Mets: People you know.
• Haven’t Mets: People you don’t know.

Conversion Ratios (Based on the Millionaire Real Estate Agent):

• Mets: 2 closed deals per 12 contacts annually with a 33 Touch program. (Conversion Rate_Mets = 2/12)
• Haven’t Mets: 1 closed deal per 50 contacts annually with a 12 Direct program. (Conversion Rate_{Haven’t Mets} = 1/50)

Calculations:

To determine the number of contacts needed, use the following formulas:

• Number of Mets Needed = (Deals from Mets) x 6
• Number of Haven’t Mets Needed = (Deals from Haven’t Mets) x 50

Example:

To close 36 deals, with 30 from Mets and 6 from Haven’t Mets:

• Number of Mets Needed = 30 x 6 = 180
• Number of Haven’t Mets Needed = 6 x 50 = 300

Three Key Strategies for Systematic Marketing

1. Target Your Audience:

   • Identify your target audience:

     • Geographic farm
     • Niche farm (shared interests/backgrounds)
     • Income ranges
     • Home values
     • Age demographics
     • Specific neighborhoods
     • Up-graders/Down-graders
     • First-time home buyers
     • Retirees
     • Investors
     • Relocating employees.

   • Determine their knowledge level.

   • Define the purpose (repeat business, referrals, reputation).
   • Identify the call to action.
   • Define the desired impression.
   • Create a special offer.
   • Provide a tangible service guarantee.

2. Be Consistent and Repetitive:

   • Maintain consistent communication to stay top-of-mind.
   • Consistency Impact: Consistent 8x8 and 33 Touch programs leads to tangible results.

3. Don’t Overthink It:

   • Prioritize consistent execution over perfection.

The 8 x 8 Plan

An intensive marketing and prospecting blitz designed to make a strong impression on new contacts.

Core Principle: Contact new Mets once a week for eight weeks.

Basic 8 x 8 Plan (Adapted from The Millionaire Real Estate Agent):

• Week 1: Introduction letter, personal brochure, market report, business card.
• Week 2: Community calendar, market statistics, recipe card, or inspirational card.
• Week 3: Alternate mailing piece.
• Week 4: Phone call: Introduce yourself and inquire about questions related to the mailouts and any potential leads.
• Week 5: Free report.
• Week 6: Real estate investment or house maintenance tip.
• Week 7: Refrigerator magnet.
• Week 8: Deliver a small gift (e.g., movie tickets, gift certificate).