The Death of Personal Marketing ?

Quote:

Originally Posted by AZBroker

In my experience with real estate, the majority of people who utilize the services of a real estate agent rarely seek out "Experts". Instead, when the decision is made to use the services of a professional real estate agent (outside help) to buy or sell a home the decision of who to use is most often influenced by referrals, word of mouth and/or other forms of marketing (Internet, Signs, etc.). When a homeowner chooses to use the services of a professional landscaping company (outside help) for complete landscaping I would expect a similar selection process. In many sales scenarios once a short list of candidates has been determined I would expect the prospective client to shop the candidates for the deal (not necessarily the cheapest price) they like the most.

What should us real estate agents be doing to get on the short list?

Quote:

Originally Posted by realtor

What should us real estate agents be doing to get on the short list?

The short answer is...

...stick with the basics. The marketing message needs to answer the prospect's spoken/unspoken question of "What's in it for me?". When the answer is right you'll be on the list.

Here are two real estate specific examples:

"Why should I hire an agent to sell my home when I can do it myself?" (Translation = WIIFM?)

"Why should I hire you to sell my home instead of Agent X? (Translation = WIIFM?)

Quote:

Originally Posted by AZBroker

The short answer is...

...stick with the basics. The marketing message needs to answer the prospect's spoken/unspoken question of "What's in it for me?". When the answer is right you'll be on the list.

Do you think in the future if you're not an 'expert' you'll be out in the cold?

Quote:

Originally Posted by susana

Hard to say. If you have good credentials and can communicate well (phone and print), I don't see why you'd have a problem setting yourself up as an expert.

The definition of credentials that I can relate with is "letters depicting recognized skills, competency or status". How do you define credentials and for salespeople without credentials how do you recommend they set themselves up as an expert?

Quote:

Originally Posted by Realtor

What should us real estate agents be doing to get on the short list?

Realtor,

I'd advise you to look beyond just the basics and learn some more sophisticated and effective marketing methods than the worn out basics.

Just look around you. How many tens of thousands of Realtors are beating their heads against the wall working the basics hard and starving to death?

Is it because they just aren't working? For some, yes. But thousands upon thousands are working their tail off and getting nowhere.

Is it because they have the wrong message? For some, yes. But frankly, there are only so many ways to say you sell real estate, period.

Is it because they are scatter shooting instead of concentrating on a target market? For some, yes. But there are thousands diligently farming their chosen neighborhoods and selling zip.

Is it because they can't differentiate themselves? Yes. How can you differentiate yourself when you do and say the same thing as one million other people?

Why do the real estate schools have enough new candidates looking to get their real estate license to stay profitable? Because real estate has one of the highest failure rates of any sales profession because every soul does the exact same thing. In many parts of the country it seems that every other person you meet has a real estate license. They're easy to get. The real estate schools and firms promise big money. 70% failure rate.

If you do exactly what the majority does why do you expect a different outcome?

Quote:

Originally Posted by pmccord

I'd advise you to look beyond just the basics and learn some more sophisticated and effective marketing methods than the worn out basics.

It has been said that greatness comes from executing the basics (fundamentals).

In my experience the majority of real estate agents who wash out do so because of a failure to understand and/or execute the basics (fundamentals) in any or all of the following core areas: business, marketing, selling, real estate.

I'd advise you to learn and apply the basics BEFORE moving on to more sophisticated methods.

Quote:

Originally Posted by pmccord

Is it because they have the wrong message? For some, yes. But frankly, there are only so many ways to say you sell real estate, period.

You ARE sending the wrong message if that message is about you (so many ways to say you sell real estate) instead of focusing on what's in it for the prospect. Again, back to basics.

Quote:

Originally Posted by AZBroker

Gentlemen, this is a football. -Vince Lombardi

"Not so fast, not so fast You're going to fast." Max Magee

Quote:

Originally Posted by pmccord

"Not so fast, not so fast You're going to fast." Max Magee

I believe many people would say the same thing when presented with the basics.

P.S. In my previous post "skillful" execution/application of the fundamentals was intended.

The problem salespeople have is that they are lost in a sea of salespeople, all selling the same thing, to the same people, at basically the same price, using basically the same message.

You can use different pictures, different words, different color paper, a different phone, or different color pen, but it still comes down to you've got a 70% chance of failing in real estate if you do what everyone else is doing.

I work with a lot of Realtors, some extremely successful, some on the verge of washing out of the business when I start to work with them. Most of the successful ones discovered early in their career that emulating what wasn't working for others wasn't going to get them anywhere. The ones struggling begin to put their career in order when they come to the realization that spending hours walking their farm--right behind two other Realtors from the two brokerages down the street--isn't going to generate enough income to sustain them.

Does everyone I work with end up making a lot of money? Of course, not. Some get into using new methods and decide they just aren't comfortable using them. Some get in thinking it's going to be easy and when they find out its work decide it isn't for them. Some, when the methods don't produce immediate results run off looking for the miracle cure.

Now, do I advocate dropping everything and moving straight to the more sophisticated marketing methods? No. When one institutes these methods there is a ramp-up time of weeks or more likely months. Obviously, the Realtor has to continue doing the marketing they are doing to eek out a living until the new methods kick in. But the object is get away from those worn out methods as quickly as possible and to start making money. The goal isn't to make a living, it's to make an extraordinary living.

Quote:

Originally Posted by pmccord

The problem salespeople have is that they are lost in a sea of salespeople, all selling the same thing, to the same people, at basically the same price, using basically the same message.

I do not know any successful real estate agents that match that description.

Quote:

Originally Posted by pmccord

You can use different pictures, different words, different color paper, a different phone, or different color pen, but it still comes down to you've got a 70% chance of failing in real estate if you do what everyone else is doing.

If the blind (figuratively speaking) choose to follow the blind that is their choice and they will reap the consequences.

Quote:

Originally Posted by pmccord

Most of the successful ones discovered early in their career that emulating what wasn't working for others wasn't going to get them anywhere.

Most successful salespeople I know chose carefully the role models and methods they emulated.

Quote:

Originally Posted by pmccord

But the object is get away from those worn out methods as quickly as possible and to start making money.

If a salesperson can't cold call effectively does that mean that cold calling is "worn out"? If a salesperson can't create effective direct mail pieces does that mean that direct mail is "worn out?" If a salesperson doesn't understand or cannot skillfully execute any of these "worn out methods" does that mean that Personal Marketing is dead?

The Death of Personal Marketing ?

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