The 14-Step Listing Marketing Plan & IVR Systems

Chapter 4: The 14-Step Listing Marketing Plan & IVR Systems

Introduction

Effective listing marketing is crucial for real estate success. This chapter will delve into a structured 14-step marketing plan designed to maximize exposure for your listings and generate leads. A core component of this plan is the integration of Interactive Voice Response (IVR) systems. We will explore the scientific principles behind each step, the practical applications, and the theoretical underpinnings that make this approach effective.

4.1 The Basic Fourteen-Step Marketing Plan for Listings

This comprehensive plan is designed to generate both seller and buyer leads, contributing to overall sales volume and profitability. Consistent application of these steps, regardless of market conditions, is key to maximizing your reach and conversion rates.

1. Staging and Pricing Strategies:

   • Scientific Principle: This step leverages principles of behavioral economics and prospect theory. Staging aims to prime potential buyers by creating an emotionally appealing environment that aligns with their aspirational lifestyle. Proper pricing is crucial to attract the maximum number of qualified buyers, while avoiding the pitfalls of overpricing (leading to stagnation) or underpricing (leaving money on the table).
   • Practical Application: Professional staging services, comparative market analysis (CMA) utilizing statistical techniques like regression analysis❓❓ to determine optimal pricing.
   • Example Experiment: Conduct A/B testing with two similar properties, one staged and priced using data-driven CMA, the other not staged and priced based on intuition. Track showing requests, offers, and final sale price to compare effectiveness.
   • Formula: Price Elasticity of Demand (PED) = (% change in quantity demanded) / (% change in price). Understanding PED can inform pricing strategies to optimize for maximum revenue.

2. For Sale Sign, Rider Signs, and Directional Signs:

   • Scientific Principle: This utilizes the concept of visibility and localized marketing. A well-placed sign acts as a constant reminder to potential buyers in the immediate vicinity. Rider signs highlighting key features (e.g., “Open House,” “Pool”) can further attract attention. Directional signs guide potential buyers directly to the property, minimizing barriers to access.
   • Practical Application: Strategic placement of signs based on traffic flow and visibility, use of high-quality materials and design for visual appeal, compliance with local regulations.
   • Related Concept: Geofencing - create a virtual perimeter around your listing that triggers ads on mobile devices when potential buyers enter the area.

3. Tube or Box with Flyers and Distribution of Flyers in Neighborhood:

   • Scientific Principle: Frequency and targeted distribution enhance recall and awareness. Consistent exposure to the listing through flyers, coupled with distribution within the neighborhood, targets individuals most likely to be interested (local residents or those seeking to move into the area).
   • Practical Application: High-quality, visually appealing flyers containing key information and compelling imagery. Strategic distribution routes to maximize reach.
   • Example Experiment: Track the number of calls or website visits originating from the flyer’s unique IVR code (discussed later) to measure its effectiveness.

4. Flyers in House/Home Book/Comment Cards:

   • Scientific Principle: Provides detailed information and gathers valuable feedback. Flyers within the property reinforce key features and benefits during showings. Home books offer comprehensive information for potential buyers to review at their own pace. Comment cards provide a structured mechanism for collecting feedback on the property’s strengths and weaknesses.
   • Practical Application: Professional-quality flyers, well-organized home books with clear and concise information, anonymous comment cards with specific, actionable questions.
   • Data Analysis: Use statistical analysis (e.g., sentiment analysis on open-ended comment responses) to identify common themes and areas for improvement.

5. MLS (Multiple Listing Service):

   • Scientific Principle: Maximizes exposure to a broad network of real estate professionals and potential buyers. The MLS acts as a centralized database, allowing listings to be disseminated to a wide audience through agent networks and public-facing websites.
   • Practical Application: Accurate and complete listing information, high-quality photographs, compelling property descriptions optimized for search engines (SEO).
   • Relevance Metric: Track the number of views and inquiries generated through the MLS platform.

6. Web Listings with Virtual Tour (Strategic Placement on Your Site; Put the IVR Number for the Listing in the Property Description Field):

   • Scientific Principle: Enhances online visibility and engagement. A well-designed website with prominent listing placements, coupled with immersive virtual tours, attracts and retains the attention of potential buyers. Including the IVR number ensures that online inquiries are captured and routed efficiently.
   • Practical Application: Professional website design, high-resolution photographs, interactive virtual tours, SEO optimization, responsive design for mobile devices.
   • A/B Testing: Test different website layouts and content formats to optimize for conversion rates (e.g., inquiries, showing requests).

7. House Featured in “Marketing Vehicle” (Calendar, etc.):

   • Scientific Principle: Consistent brand reinforcement. Featuring the listing in marketing materials like calendars or newsletters keeps the property top-of-mind for potential buyers and reinforces the agent’s brand.
   • Practical Application: High-quality design, targeted distribution, integration with other marketing channels.

8. Open House Program:

   • Scientific Principle: Creates a sense of urgency and allows potential buyers to experience the property firsthand. Open houses generate foot traffic and provide an opportunity for direct interaction with potential buyers.
   • Practical Application: Effective advertising (online, signs, flyers), strategic timing (weekends), well-staged property, knowledgeable and engaging agent present to answer questions.

9. E-mail/Fax/Voice Broadcast (with your web address):

   • Scientific Principle: Targeted communication and direct response marketing. Email and voice broadcasts allow agents to reach a specific audience with tailored messages, driving traffic to the listing and website.
   • Practical Application: Targeted email lists, compelling subject lines, personalized messaging, clear call-to-action.
   • CTR (Click-Through Rate): Track the percentage of recipients who click on the link to the listing in the email.

10. Track Showings/Collect Feedback:

    • Scientific Principle: Continuous improvement through data analysis. Tracking showing activity and collecting feedback provides valuable insights into the property’s appeal and areas for improvement.
    • Practical Application: Automated showing management systems, feedback forms (online or paper), analysis of feedback data to identify trends and patterns.
    • Statistical Analysis: Use regression analysis to identify the factors that most strongly correlate with positive feedback and offers.

11. Target Marketing:

    • Scientific Principle: Segmentation and personalized messaging. Target marketing involves identifying specific buyer segments (e.g., first-time homebuyers, families, investors) and tailoring marketing messages to their unique needs and preferences.
    • Practical Application: Demographic and psychographic analysis, targeted advertising campaigns (online, social media), personalized email marketing.
    • Conversion Rate: Track the percentage of leads from each target segment that convert into sales.

12. Weekly Seller Updates:

    • Scientific Principle: Maintaining transparency and building trust. Regular communication with the seller, providing updates on marketing activities, showings, and feedback, fosters a strong working relationship and builds trust.
    • Practical Application: Structured reporting format, clear and concise communication, proactive problem-solving.

13. Property Caravans:

    • Scientific Principle: Leveraging the power of peer influence and professional feedback. Property caravans allow other agents to preview the listing and provide valuable feedback, potentially leading to increased exposure and referrals.
    • Practical Application: Organized caravan schedule, clear property information, opportunity for agents to provide feedback.

14. Creative Marketing Ideas (10K, Cable show, etc.):

    • Scientific Principle: Differentiation and attention-grabbing tactics. Creative marketing initiatives, such as sponsoring a local 10K race or hosting a cable show showcasing the property, can generate significant buzz and differentiate the listing from the competition.
    • Practical Application: Innovative and engaging marketing concepts, strategic partnerships, careful execution.

4.2 Interactive Voice Response (IVR) Systems

IVR systems are a powerful tool for capturing leads and providing instant information to potential buyers.

• Definition: An IVR system is an automated phone system that interacts with callers using pre-recorded voice messages and touch-tone input. In the context of real estate, it provides property information 24/7 and captures caller information for follow-up.

• Why IVR Systems are Effective:

  1. Anonymity and Convenience: Callers are often more comfortable listening to a recording than speaking directly to a salesperson initially. This lowers the barrier to entry and encourages more inquiries.

  2. Lead Qualification: IVR systems capture caller phone numbers and the specific listing they inquired about, providing valuable information for lead qualification and targeted follow-up.

     • The system inherently captures initial interest. This provides a baseline to work from.

  3. 24/7 Availability: Information is available around the clock, catering to different schedules and time zones. This ensures that no inquiries are missed, even outside of regular business hours.

  4. Efficiency: IVR systems handle initial inquiries, freeing up agents to focus on higher-value tasks like buyer consultations and negotiations.

  5. Conversion Rates: Studies suggest that a significant percentage of IVR leads can be converted to closed sales, making the system a cost-effective marketing tool. The provided document states that 10-20% of calls can result in a sale.

  6. Data Collection: IVR systems track call activity, providing valuable data on marketing effectiveness and lead sources.

  7. Seller Benefit: Showcasing the use of IVR systems in listing presentations demonstrates a commitment to innovative marketing and enhanced❓ customer service, attracting potential sellers.

• Advertising Listings with IVR Ads:

  • Placement: Include the IVR number and a brief explanation of how to use the system in all marketing materials, including signs, flyers, websites, email blasts, and print ads.
  • Example: “Call our FREE, 24-Hour Talking-Ad Hotline For Information On This Property @ 1-800-555-1212. When prompted, enter the property’s 5-digit code.”

• Recording the Talking Ads:

  • Timing: Record the ad as soon as the listing paperwork is finalized.
  • Delivery: Use a clear and upbeat voice.
  • Content: Include the following information:
    1. Address
    2. Town/City
    3. Number of Bedrooms
    4. Number of Bathrooms
    5. Square Footage (with source)
    6. Featured Amenities (pool, hardwood floors, etc.)
    7. School Information
    8. Neighborhood Information
    9. Website URL
       * Note: Do not include pricing information in the initial recording. This allows the Buyer Specialist to use that as a conversation starter.

• Tracking the Calls:

  • Reporting: Utilize IVR reporting features to track call activity by source, allowing you to identify the most effective marketing channels.
  • Optimization: Use this data to allocate marketing dollars more efficiently.

• Call-backs:

  • Prompt Response: Assign a Lead Coordinator or Buyer Specialist to monitor the IVR system and call back leads immediately.
  • Scripts: Use pre-written IVR scripts to guide the conversation and convert leads into buyer consultations.
  • MREA Script Example: “Good afternoon, this is _ with the _ Group at Keller Williams Realty. This is just a courtesy call. I noticed that you called on our listing at 123 Elm Street. I just wanted to know, did you get all the information you were looking for?…”

4.3 Integrating the 14-Step Plan and IVR Systems

The IVR system should be integrated into several steps of the 14-step plan:

• Step 2 (For Sale Sign): Include the IVR number on rider signs.
• Step 3 (Flyers): Prominently display the IVR number on flyers.
• Step 6 (Web Listings): Include the IVR number in the property description.
• Step 9 (Email/Fax/Voice Broadcast): Include the IVR number in all communications.

By seamlessly integrating the IVR system, you can ensure that potential buyers have easy access to information and that all inquiries are captured and followed up on efficiently.

Conclusion

By implementing the 14-step marketing plan and leveraging the power of IVR systems, real estate professionals can significantly enhance their lead generation efforts, increase sales volume, and build a strong brand. The key is to consistently apply these strategies, track results, and adapt to changing market conditions. The use of data-driven approaches, as highlighted through scientific principles and practical examples, provides a robust framework for success.