Archive for the ‘FEATURE ARTICLE’ Category

Photo Blogging Your Way to the Top of the Search Engines

Monday, February 1st, 2010

Photo blog from your cell phone...There is no question that blogging can be a powerful tool to help you and your Website stand out from the crowd and generate new business. And, as many have already discovered, it can be time consuming and a lot of work —until now.

Here’s an innovative way to post compelling content to your blog in just seconds that will also help propel your site to the top of the search engine results.

Photo Blogging: Cell Phone to Blog Post in 90 Seconds Flat

Photo blogging is a way to leverage what you do best every day, look at properties and use your cell phone, to create fresh search engine relevant content for your blog even several times a day.  Here’s how it works:

STEP 1 – Snap a cell phone picture of a listing in your market area

STEP 2 – Compose an email with the address of the listing as the subject line and just a sentence or two describing the property.

STEP 3 – Send the email to a special address that once received will instantly post your subject line as the blog post title, insert the photo and follow it up with the descriptive text as the main body of your post.

There you have it, about 90 seconds total (unless you are all thumbs like me, then figure 2 minutes).  And what is really cool is that you haven’t broken your daily routine to do it.  And no more staring at a blank computer screen trying to figure out what to post while you could be out, well… looking at property.

Now at this point you are probably thinking “Awesome, I can do that!  Ahhh, what’s that special address I need to send these emails to?” As you might have guessed, there’s just a little bit of set up you have to do before you start photo blogging yourself silly…

Getting Started

The first thing you want to do is set up a free account at Posterous.com.  Once set up, you will be able to send your cell phone posts to post@posterous.com and it will “know” who sent it (it also works with email sent from any device, including your computer).  Now if this is far as you go, Posterous will automatically create your blog and handle updating it via your emails.  However, if you want to maximize your “Google Juice” that a frequently updated blog can give you and have a look & feel that is consistent with your brand, then there are a few other things that you want to do:

  1. Create a sub-domain from your main Website domain that points to your photo blog.  For example, if your main site domain is “LuxuryMountainHomes.com” then you may want to set your photo blog URL as “photoblog.LuxuryMountainHomes.com” with links to it on every page of your site.  By doing this, search engines like Google will attribute the new photo blog content to your entire site.  And since you used the property address as the post title, your site’s relevancy for your market area increases with every submission.
  2. Have your Web designer modify the look and feel of your Posterous blog to be consistent with that of your main Website.

By doing the above, you now have a way to constantly be adding high-relevancy blog content to your site throughout the day, day-in day-out without breaking a sweat.

IMPORTANT: if you already have a blog with more traditional content, be sure to make your photo blog separate from it.  Not everyone subscribed to your current blog will want to receive your photo blog posts throughout the day.

Remember, the main benefit of a photo blog is quickly and easily adding search engine relevant content to your site on a regular basis, not necessarily to inform a reader base.

From $250K to $600K Average Sales Price in Just a Few Months

Walter Burns is a condo specialist with Weichert Realtors in Hoboken, NJ.  Thanks to his social media efforts (a large part of which is his photo blogging) his average transaction prices have soared from $250,000 to over $600,000 in short period of time.  You can see his photo blog by going to http://photos.livingonthehudson.com/.  You will notice that in addition to his photo blog he has a traditional one as well, both of which are seamlessly integrated into his main site www.LivingOnTheHudson.com.  If you examine both, you will see that the frequency of his posts to his photo blog is far greater than his regular one.  And for good reason, it’s so darn easy!

Whether you are brand new to blogging or a seasoned social networking pro, photo blogging is one tool you should be using on a daily basis.  If you can take photos and text with your cell phone, you can photo blog.

NOTE: Mr. Internet®, RUSSER Communications, its staff and officers receive no compensation whatsoever from any third party vendors (unless he/they are directly involved with the creation and/or improvement of a vendor service or product), and make no recommendations as to the suitability of the products or services mentioned in this article. Always thoroughly investigate any product or service before trying or purchasing.


Mr. Internet is the alter-ego of Michael J. Russer, an internationally recognized Internet speaker, trainer, author, and strategic consultant to the real estate industry. He’s dedicated to helping real estate professionals leverage their people skills into profit on the Internet. Send your Internet questions to help@askmrinternet.com or you can visit his Website at http://www.russer.com


This article is reprinted in its entirety from the February 2010 issue of REALTOR® Magazine by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright © 2010. All Rights Reserved other than mentioned above. Mr. Internet® is a registered trademark of RUSSER Communications.

There is no question that blogging can be a powerful tool to help you and your Website stand out from the crowd and generate new business. And, as many have already discovered, it can be time consuming and a lot of work —until now.  Here’s an innovative way to post compelling content to your blog in just seconds that will also help propel your site to the top of the search engine results.

Photo Blogging: Cell Phone to Blog Post in 90 Seconds Flat

Photo blogging is a way to leverage what you do best every day, look at properties and use your cell phone, to create fresh search engine relevant content for your blog even several times a day.  Here’s how it works:

STEP 1 – Snap a cell phone picture of a listing in your market area

STEP 2 – Compose an email with the address of the listing as the subject line and just a sentence or two describing the property.

STEP 3 – Send the email to a special address that once received will instantly post your subject line as the blog post title, insert the photo and follow it up with the descriptive text as the main body of your post.

There you have it, about 90 seconds total (unless you are all thumbs like me, then figure 2 minutes).  And what is really cool is that you haven’t broken your daily routine to do it.  And no more staring at a blank computer screen trying to figure out what to post while you could be out, well… looking at property.

Now at this point you are probably thinking “Awesome, I can do that!  Ahhh, what’s that special address I need to send these emails to?” As you might have guessed, there’s just a little bit of set up you have to do before you start photo blogging yourself silly…

Getting Started

The first thing you want to do is set up a free account at Posterous.com.  Once set up, you will be able to send your cell phone posts to post@posterous.com and it will “know” who sent it (it also works with email sent from any device, including your computer).  Now if this is far as you go, Posterous will automatically create your blog and handle updating it via your emails.  However, if you want to maximize your “Google Juice” that a frequently updated blog can give you and have a look & feel that is consistent with your brand, then there are a few other things that you want to do:

a) Create a sub-domain from your main Website domain that points to your photo blog.  For example, if your main site domain is “LuxuryMountainHomes.com” then you may want to set your photo blog URL as “photoblog.LuxuryMountainHomes.com” with links to it on every page of your site.  By doing this, search engines like Google will attribute the new photo blog content to your entire site.  And since you used the property address as the post title, your site’s relevancy for your market area increases with every submission.

b) Have your Web designer modify the look and feel of your Posterous blog to be consistent with that of your main Website.

By doing the above, you now have a way to constantly be adding high-relevancy blog content to your site throughout the day, day-in day-out without breaking a sweat.  IMPORTANT: if you already have a blog with more traditional content, be sure to make your photo blog separate from it.  Not everyone subscribed to your current blog will want to receive your photo blog posts throughout the day.  Remember, the main benefit of a photo blog is quickly and easily adding search engine relevant content to your site on a regular basis, not necessarily to inform a reader base.

From $250K to $600K Average Sales Price in Just a Few Months

Walter Burns is a condo specialist with Weichert Realtors in Hoboken, NJ.  Thanks to his social media efforts (a large part of which is his photo blogging) his average transaction prices have soared from $250,000 to over $600,000 in short period of time.  You can see his photo blog by going to http://photos.livingonthehudson.com/.  You will notice that in addition to his photo blog he has a traditional one as well, both of which are seamlessly integrated into his main site www.LivingOnTheHudson.com.  If you examine both, you will see that the frequency of his posts to his photo blog is far greater than his regular one.  And for good reason, it’s so darn easy!

Whether you are brand new to blogging or a seasoned social networking pro, photo blogging is one tool you should be using on a daily basis.  If you can take photos and text with your cell phone, you can photo blog.

NOTE: Mr. Internet®, RUSSER Communications, its staff and officers receive no compensation whatsoever from any third party vendors (unless he/they are directly involved with the creation and/or improvement of a vendor service or product), and make no recommendations as to the suitability of the products or services mentioned in this article. Always thoroughly investigate any product or service before trying or purchasing.


Mr. Internet is the alter-ego of Michael J. Russer, an internationally recognized Internet speaker, trainer, author, and strategic consultant to the real estate industry. He’s dedicated to helping real estate professionals leverage their people skills into profit on the Internet. Send your Internet questions to help@askmrinternet.com or you can visit his Website at http://www.russer.com


This article is reprinted in its entirety from the January 2010 issue of REALTOR® Magazine by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright © 2010. All Rights Reserved other than mentioned above. Mr. Internet® is a registered trademark of RUSSER Communications.

How to be Instantly Creative For Greater Profits

Saturday, November 28th, 2009

Tap into your inner Thomas Edison...Don’t think you are creative?  Well, think again!  The fact is, most REALTORS are quite creative otherwise they would never last in this very demanding, ever changing industry. It’s not the lack of ideas that’s the problem; it’s just a matter of using the right process to access them.  And here’s one of the most powerful methods there is to turn on your inner Thomas Edison and tap into the creative well of others too…

Harvesting Great Ideas via Bubble Charting

The quickest way to turn off your creative flow is to try to make a list of ideas.  Why is this so bad?  Because by its very structure a list has an enforced priority (i.e. 1st item, 2nd, and so on…), which causes your mind to evaluate ideas rather than just let them come out.  Ideally you want a way to capture your ideas as quickly as they appear without interruption or judgment getting in the way.
Bubble charting is a very simple mind-mapping method I learned in a writing class 25 years ago that has absolutely transformed how I generate ideas and organize my thinking.  It is so powerful that I use it many times each week to help me run and grow my business.  Here’s how it works:

  1. Take a blank piece of paper and draw an oval in the center.  Then put the name of the topic in this oval for which you want to generate tons of ideas;
     
  2. For each idea you think of (never mind if it’s any good or not –remember, no judgment at this stage of the process) simply put it anywhere on the page and draw an oval around it an arrow from it to the central topic oval;
     
  3. When you have ideas that relate to other ideas just do the same as in step 2. above except draw the arrow so it connects the two ideas.

When you are done, your page might look something like this:

 

Bubble Chart Example

 

In the real world however, if you are using pencil and paper, or a white board, it is more likely to look like this:

 Real world bubble chart example

 

It’s not about being “pretty”, rather getting as many ideas (good, bad or otherwise) out as quickly as possible.  While paper and pencil or white board is fine for bubble charting exercises, these mediums don’t make it particularly easy to edit, share or even store your creative work.  Thankfully there are tools available that make the bubble charting process much easier and even “pretty” when you are done!

Bubble Charting and Mind-Mapping Tools

I never thought a computer-based mind-mapping tool could ever replace the ease and free flowing nature of paper and pencil —boy, was I wrong!  After using some of the tools mentioned below my bubble charting / mind-mapping capabilities have exploded with additional speed, ease, sharing and storage for future use…

  • MindGenius – (www.MindGenius.com) this is my absolute favorite mind-mapping tool, and unfortunately it is the most expensive (over US $200).  This is a PC based software that you download and install.  Once you get the hang of it you will be able to generate bubble charts and mind-maps at lightning speed.  By exporting your mind-maps as images or PDFs you can easily share them with others.
     
  • MindMeister – (www.MindMeister.com) similar to MindGenius but is Web-based instead and much less expensive (there is even a free version).  However, this particular solution is a case of “you get what you pay for” as it is a bit clunky and slow when generating mind-maps —not a good thing when ideas are flowing like the Mississippi.
     
  • LovelyCharts – (www.LovelyCharts.com) this is a very elegant and well designed Web-based flow charting and diagramming solution that can easily be adopted for bubble charting.  In fact, we use this in my company when bubble charting ideas for our students.  And with a free version, the price is right.
     
  • Virtual-WhiteBoard – (www.Virtual-WhiteBoard.com) this is the least elegant of these tools since you have to literally draw your bubble-charts manually.  However, what makes this particular solution unique is the ability to have real-time collaboration among different people each of whom can add to the bubble-chart with everyone seeing the results.  Once again, there is a free version of this service to try out.
     
  • MicroSoft Office 2007 – both Word and PowerPoint give you the ability to create “smart charts” that resemble bubble charts.

The above are just a few examples of the many computer-based mind-mapping tools that are available to you.  However, the key to using a computer-based tool to help you bubble chart or mind-map is that you don’t want to think about how to use it during the process.  With this in mind, MindGenius is the hands-down winner.  You simply type your ideas, and it creates the mind-map for you.

Whether you bubble chart / mind-map with a pencil and paper or use a sophisticated software tool, you can greatly enhance the results by inviting more people to the party…

Throw a Brainstorming Party to Generate Tons of Ideas

By adding more people to the brainstorming process you will have access to ideas, solutions and strategies that you could not even imagine otherwise.  But like everything else, there is a process to get the most from your group brainstorming without it turning into a fat-chewing session:

  • Gather a group of friends & associates who truly want to help you (30 minutes max)
     
  • Assign one person as the “Recorder” (i.e. will create the bubble chart as the ideas are voiced)
     
  • Provide plenty of beer / wine and pizza (lower inhibition lubricates the creative process —just don’t allow anyone to drive home under the influence however!)
     
  • Give the rest of the “rules” to your group:
    • Keep a rapid fire pace
    • No editing or criticizing! (nothing shuts down a brainstorming session faster than this)
    • The more “out of the box” the ideas are the better.

You want to make the above process fun and fast-paced.  By doing so, you and your group will likely generate more ideas in just a few minutes than you could do by yourself over six months!  And remember, not all the ideas will be good.  In fact some will be quite awful.  That’s okay, because you can always edit the ideas and select the best ones after everyone goes home.

Speaking of “ideas” here’s a clever one that one of our students came up with to use social networking to help him brainstorm an idea.  He simply went on Facebook and started a “contest” for all his Facebook friends to come up with the best ideas for a particular problem he was working on.  In short order, the ideas just came flying in and he didn’t even have to buy beer or pizza.

Innovative ideas, when properly implemented, is what typically sets one person apart from the rest of the pack.  Using the methods described above you will have an endless supply of great ideas to choose from.  And once you have them the only thing left to do is brainstorm how you plan on putting them into practice…

NOTE: Mr. Internet®, RUSSER Communications, its staff and officers receive no compensation whatsoever from any third party vendors (unless he/they are directly involved with the creation and/or improvement of a vendor service or product), and make no recommendations as to the suitability of the products or services mentioned in this article. Always thoroughly investigate any product or service before trying or purchasing.


Mr. Internet is the alter-ego of Michael J. Russer, an internationally recognized Internet speaker, trainer, author, and strategic consultant to the real estate industry. He’s dedicated to helping real estate professionals leverage their people skills into profit on the Internet. Send your Internet questions to help@askmrinternet.com or you can visit his Website at http://www.russer.com


This article is reprinted in its entirety from the November 2009 issue of REALTOR® Magazine by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright © 2009. All Rights Reserved other than mentioned above. Mr. Internet® is a registered trademark of RUSSER Communications 

Syndicate Your Listings to the World

Monday, October 12th, 2009

Syndicate Your Listings Everywhere...These days you may be tempted to think of your listings as more of a millstone than an opportunity to generate more business.  The reality is people have not stopped buying homes, just how they do it is changed.  Therefore the more you are able to expose your listings to as many online portals as possible, the greater the chance you (and the listing) will meet a viable buyer.  Here’s how to simplify the process of syndicating your listings for maximum impact and least cost…

Postlets.com – One Click, Many Destinations

Postlets.com is perhaps the best known listing syndication resource for the residential real estate industry that also happens to be free.  Once you set up an account you can enter in as many listings you want via user-friendly forms.  The information you enter includes descriptive text, photos and external links.  Once entered you can choose a listing Web page theme (there are 10 in the free version of Postlets) that best fits your particular listing.  Each theme will automatically enter your photo and contact information from your account settings.

Postlets helps you distribute your listings online several important ways:

  1. Syndication – upon submission, your listing information will automatically be posted on twelve different online classified ad databases and search engines including GoogleBase, Trulia and Zillow.
     
  2. Manual Posting on Classified Sites – Postlets creates a Web page from the listing content you entered and the theme you chose.  It allows you to easily copy and paste the HTML code from the Listing page into sites like Craigs List, eBay etc.
     
  3. Widgets – these small applets can be put on your Website, blog, Facebook etc. that will allow visitors to instantly see the entire listing Web page for each listing you have uploaded into Postlets.  (NOTE: Postlets hosts each listing Webpage for free).

That’s a lot of online territory Postlets helps you cover with just a few clicks of the button.  And Postlets will even allow you to insert your Google Analytics code in the HTML code so you can track visitor statistics for each of your listings.  Postlets also offers a Pro version ($10 or less per listing depending upon the number you have) offers greater features, eliminates 3rd party advertising from the listing Web pages and may, in some circumstances, allow automatic upload of listing info from your MLS.

So what’s the downside?  Well think about it; if you have a lot of listings it takes a lot of time to load, annotate and post them even with the help of a great tool like this.  We’ll cover how to handle this particular issue after we look at a few other syndication options…

ListingsToLeads.com – Craigslist Supercharger

Putting your listings on Craigslist can be a powerful way to generate buyer inquiries, if your posting can standout head and shoulders from the rest of the crowd.  ListingsToLeads is a service similar in approach to Postlets except that it allows you to create a richer listing template.  The templates can be customized with your brand and they provide room for more calls to actions (very important if you want the visitor to actually contact you!) and links back to your own site.  Once again however, this is technically not syndication to Craigslist because you must manually copy and paste the HTML code of the generated listing page into a Craigslist add.

Currently ListingsToLeads works only with Craigslist, however they claim that properly positioned using rich Web-based adds will greatly increase your listing to inquiries ratio over sites like Trulia and Zillow.  Pricing for ListingsToLeads is similar to the Pro version of Postlets.  However, your account does include access to live weekly training about how to leverage the subtleties of having your listings standout on Craigslist.  And, if you are a broker looking to automate the process of generating a unique Craigslist Webpage for each listing you may find that ListingsToLeads can upload all your listing data directly from your MLS.

Other Ways to Syndicate Your Listings

In addition to the methods above, there are several other methods of syndicating your listings.  For example Website template vendor Point2Agent.com provides syndication of listings manually loaded into the agent’s Point2 site.  In fact they claim to have the largest syndication network in the real estate industry with full statistical reporting of visitor traffic to each of your listings.  Not bad for a $9.95/mo Website.  Also, it appears to be a trend that some MLS’s are providing syndication services as well.  So check with yours to see if this service is available.

Getting your listings to as many points of online viewing as possible certainly doesn’t hurt.  However, this is only half the battle if you want this effort to really pay off in a higher inquiry-to-listing ratio.

How to Syndicate Listings For More Business With Less Effort

If you really want listing syndication to generate business for you then don’t bother doing it yourself.  What DOES work is hiring a VA who understands the various syndication services and how to position each listing so they stand out from the crowd and never go stale.  This means creating great copy, lots of professional looking photos and constantly paying attention to the statistical reports so your various listings can be tweaked for maximum inquiry generation.  This is not an easy job and it takes ongoing commitment and focus to really pay off.  If you try to manage the listing syndication process yourself you are only inviting frustration and the loss of revenue that could have been generated if you were out selling.

Listing syndication is a wonderful thing.  However, like everything else online, there are no silver bullets to help you stand above the crowd.  If there were, then everyone would start using it and soon no one would stand out.  The only way for your syndicated listings to really do their job of generating inquiries is to have someone constantly work to keep them fresh, eye-catching and the descriptive copy compelling.  Otherwise your listings will be just so many waves on the sea of homes available online.  There may be thousand of those waves, but they’ll all look the same.

NOTE: Mr. Internet®, RUSSER Communications, its staff and officers receive no compensation whatsoever from any third party vendors (unless he/they are directly involved with the creation and/or improvement of a vendor service or product), and make no recommendations as to the suitability of the products or services mentioned in this article. Always thoroughly investigate any product or service before trying or purchasing.


Mr. Internet is the alter-ego of Michael J. Russer, an internationally recognized Internet speaker, trainer, author, and strategic consultant to the real estate industry. He’s dedicated to helping real estate professionals leverage their people skills into profit on the Internet. Send your Internet questions to help@askmrinternet.com or you can visit his Website at http://www.russer.com


This article is reprinted in its entirety from the September 2009 issue of REALTOR® Magazine by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright © 2009. All Rights Reserved other than mentioned above. Mr. Internet® is a registered trademark of RUSSER Communications.

How to Use Virtual Seminars to Generate Real Business

Monday, July 20th, 2009

Virtual SeminarsThe fastest way to establish yourself as “The Expert” in any field or specialty is to give seminars.  When people attend a seminar some part of them has already accepted the speaker as an expert, otherwise they would not have shown up.  REALTORS putting on seminars is nothing new.  However, traditional seminars are expensive and time consuming.  Thanks to the ever evolving Internet, there is a much more powerful and easier way to put on seminars for nearly any size audience at a fraction of the cost of renting a room.  Here’s how you get the most new business bang for your seminar buck…

Virtual Seminars – Better Than “Being There”

A virtual seminar is a live event with a main speaker (you) where your screen is viewed via the Internet and your voice is heard through the phone or computer speakers.  Another more common term for virtual seminar is Webinar.  The advantages to you and your audience (i.e. prospects) are many:

  • Convenience – your prospects don’t have to get into a car and go somewhere (nor do you).  They can participate right from the comfort of their home or office which means they are more likely to attend;
     
  • Control – attendees will have less fear of being “overpowered” by a sales pitch because they are not physically present and can click off at any time;
     
  • Interaction – most Webinar systems give the speaker the ability to interact directly with attendees using real time polls, “hand raising” to ask questions verbally or type questions;
     
  • Feedback – some Webinar solutions allow you to automatically launch a survey immediately after the seminar ends.  This is a great tool to receive candid feedback to gauge how well you did, how you could make it better and expression of interest (i.e. buying signals);
     
  • Cost – if you choose wisely, you can put on a Webinar for a fraction of the cost of a traditional seminar;
     
  • Content – if your Webinar system allows you to record your sessions, then you have a ongoing source of updated multi-media information for your Website or blog.

At this point you may be wondering “Okay, great –but does it really work to generate new business?”  Let me put it this way, as a professional international speaker for nearly 15 years, I can attest to the business generating power of seminars.  And in the last six months or so, Webinars have been my only method of delivery.  They have empowered me to make more money reaching more people with just a fraction of the effort and time of traditional seminars.

You too can use Webinars to establish yourself as The Expert, reach far more prospects and convert more of them into clients.  The key is to follow the Webinar success guidelines detailed below that will save you many missteps and propel you to Virtual Star status in no time…

Webinar Logistics – The Right Tools

Here are the things you want to have in place before announcing your first virtual seminar:

  • Webinar System – the one I recommend is GoToWebinar.com from Citrix.  It has all the bells and whistles, it’s easy to use and best of all it is much less expensive than most of its competitors.  They offer a very reasonable “all you can meet” pricing model either by the month or annually.  This means you can use the system as many times you want, with as many people as you want (up to 1000) at any time.  This works out to be far less expensive than being charged $/person/minute typically used by other Webinar providers.  You can even try it free for 30 days.  Do not confuse GoToWebinar.com with GoToMeeting which is made by the same company.  GoToMeeting does not offer the ability to launch polls or surveys, has no way to register attendees or provide after session reporting and is limited to 16 people at a time.  IMPORTANT: practice using GoToWebinar until you are totally comfortable on how to operate its main functions —your first Webinar is NOT the time to do this!
     
  • Internet Connection – make sure you have a reliable broadband connection because you will be broadcasting your voice and your computer screen.
     
  • Cordless Phone Headset – during a Webinar people will hear your disembodied voice and see whatever you are sharing on your computer screen —that’s it!  This means your voice has to do the heavy lifting to keep the group engaged their energy up.  The easiest way to do that is to stand up and move while you are talking.  This automatically imbues your voice with that extra dose of energy and enthusiasm.  Only a cordless headset can give you that freedom.  HelloDirect.com has many to choose from, I personally prefer the GN950e which gives you 350’ of cordless freedom and you can also use it as a cordless computer headset as well (i.e. microphone / headphone pair).

Setting Up Your Webinar

Here are the things you want to do to set up your Webinar so you have no surprises when it comes time to put on your show:

  • Schedule day & time – set the time, duration and date that works best for your prospects.  Try to keep the duration to no more than one hour until you develop strong confidence in your presentation skills.  Also, be aware of what time zone you are using.  Obviously use your local one if all your attendees are local.  Otherwise for North America, use EST / EDT which attendees outside of the Eastern Time Zone can calculate for their own time (at least you hope they can :o )
     
  • Describe the webinar – give your Webinar a title and description. Make sure your Webinar title is very compelling and attractive to your intended audience; otherwise they will not even bother to read on or register.  Also, it is crucial that the Webinar description copy needs to bullet point the benefits they will receive by attending.
     
  • Add panelists – these are people that either present with you or help you present (more on this later).
     
  • Customize the Webinar theme – this is the look and feel of what attendees will see when they first login and when they receive your email announcement.  You can change the color, upload your logo and your photo.
     
  • Set up registration form – these are the questions (mostly contact info) that your attendees will need to fill out to register.  Avoid mandatory fields whenever possible (GoToWebinar forces mandatory name and email address, everything else is optional).
     
  • Set up your post-Webinar survey – think through the questions you want your attendees to answer and be sure to ask if they would like to schedule an appointment with you (the call to action).
     
  • Set up you polls – polls are a way to get attendees to anonymously interact with you and each other in real time.  They are typically used for larger audiences (50+).  If you expect to use them, set them up well in advance of your Webinar and be sure to practice using them with a friend.
     
  • Set up your email reminders – determine when email reminders are sent to the registrants (which are fired off directly through the GoToWebinar system) and what they will say, which you can modify.

Once you have your Webinar set up, you are now ready to announce it.

Announcing Your Webinar – Getting People to Register

There are two primary ways to announce your Webinar:

  1. Email – GoToWebinar will send you an HTML email announcement which you can then forward (with some additional words of your own) to your prospect list.  This message contains the Webinar registration link.  CLICK HERE to see an example of an email announcement that was sent out to members of the Maryland Association of REALTORS not too long ago.  We used the basic format generated directly by GoToWebinar and then modified it slightly before sending it out.  Notice the attention-grabbing title and benefit bullet points.  We received close to 1,000 registrations because of this email announcement!
     
  2. Web – you can post the registration link (using suitable promotional copy) on your Website, blog or social media sites you belong to.

Don’t hesitate to use affiliate relationships (title companies, mortgage lender, attorney’s etc.) to help spread the word.  In terms of emailing the announcement, we have found that three times over about a 45 day period works best, with the last one just a few days before the Webinar date.  You can log into your GoToWebinar account at any time to see who has registered, who they are and if they had any pre-attendance questions.

Pre-Webinar Preparation

Here are some things you want to have ready before your Webinar goes live:

  • Prepare your materials – make sure that you have pre-loaded any Websites and/or your PowerPoint presentation well in advance of launching your Webinar;
     
  • Adjust your screen resolution – make sure your screen resolution is set to 1024 x 768 especially if you have a high-resolution screen.  Otherwise your attendees may have a hard time viewing details on your screen.
     
  • Make a friend a “panelist” – it is very important to have someone run the typed in questions via the Q&A box of GoToWebinar that knows your content and can answer most questions.  There is no way you can do this yourself and keep your presentation flowing smooth and sound professional.  When your friend logs in as a panelist be sure to make them an “Organizer” (right-click on their name) so they can see and respond to the typed Q&A questions.

I’m going to save the details of how to deliver a high-performance and engaging Webinar for a later article.  However, just to get you started remember these things:

  1. Have a killer opening – briefly introducing you and why they are there (keep it benefit oriented) in a way that will grab them immediately;
     
  2. Give an overview – tell them what you are going to cover (stress benefits);
     
  3. Give the presentation – keep it benefit oriented and allow for audience interaction which is much more engaging than just listening to someone.  NOTE: don’t overwhelm your audience with PowerPoint slides.  Use as few as possible and fill in the blanks with your personality and words;
     
  4. Review what you just covered – stick to three main points and the benefits they received from learning them;
     
  5. Close with call to action – thank them for attending and be very clear what it is you want them to do (be sure to remind them to complete the post-Webinar survey too).  In addition to establishing you as The Expert you want to use this opportunity to have them take action that will cause them to eventually become your clients.

Just doing those five steps will put you light-years ahead of even some very seasoned speakers.  Many speakers who are perfectly comfortable on stage do not do well on Webinars simply because they either didn’t prepare or haven’t realized that it is an entirely different communications medium.  CLICK HERE to view how I used GoToWebinar to present to hundreds of MAR associates last April.  Watch and listen carefully how I used the five steps above.

Thanks to the Internet and the latest in affordable Webinar systems, having prospects come to the conclusion that you are “The Expert” has never been easier or more fun.  The best way to learn is use the tips and advice given above and then just jump right in, don’t wait.  There is a whole new world of business-generating opportunity waiting for you!

NOTE: Mr. Internet®, RUSSER Communications, its staff and officers receive no compensation whatsoever from any third party vendors (unless he/they are directly involved with the creation and/or improvement of a vendor service or product), and make no recommendations as to the suitability of the products or services mentioned in this article. Always thoroughly investigate any product or service before trying or purchasing.

This article is reprinted in its entirety from the July 2009 issue of REALTOR® Magazine by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright © July 2009. All Rights Reserved other than mentioned above. Mr. Internet® is a registered trademark of RUSSER Communications.

Bright Shiny Objects and Other Things That Glitter

Sunday, May 10th, 2009

Bright Shiny Objects --that don't work...This past week alone I had conversations with the senior management of two medium-sized real estate companies that hammered home just how desperate some firms are getting.  They each mentioned how they were thinking of training their sales associates on how to use social media (i.e. FaceBook, Twitter, etc.) which of course “everybody” is doing.  When asked if their sales people were even responding to the online leads they already had, the answer in both cases was an unsurprising “no”.  Hey, if our sales associates can’t figure out how to make it in today’s market, let’s give them some bright shiny objects, at least it will take their mind off the fact they’re drowning…

Giving a Ritalin deficient sales force yet one more thing to distract them from the disciplines of doing real business, is like giving a crack addict a brand new pipe.  Social media is not some kind of silver bullet that will solve all their problems.  In fact, for most of them it will substantially add to their frustration and probably hasten their exit from the business. “RDR” (Realtors Don’t Read) is common refrain.  And if you believe that is true, consider the natural sequitur “RDW” (Realtors Don’t Write).  Social media certainly can complement one’s marketing efforts, if (and this is a big IF), one is a very good writer with some semblance of a unique and engaging “voice”.  Out of the million or so Realtors still in business I wonder how many fit that profile.

This is just one more example of how typical real estate management responds to desperate times with desperate Hail Mary, spaghetti-on-the-wall measures, rather than with something so few seem to exhibit —leadership.

The Real Crisis in Real Estate

Imploding housing values, constricted credit markets, skittish consumers and an overall deep recessionary economy are simply part of a cycle.  A nasty one for sure, but just a cycle.  Barring an extinction level event, people will always buy and sell real estate.  Currently, sale volumes may be lower and the methods of how we help them with the process certainly change, but business will continue.

There is indeed a crisis in the residential real estate industry, but this current cycle does not define it —it instead has revealed it.  Boom times tend to mask flaws.  And as Warren Buffet so aptly put it, “It’s only when the tide goes out that you learn who’s been swimming naked.”  This market has made it very clear that skinny dipping has been a favorite pastime for the management of most residential sales companies.

Getting caught with your pants down during a market down turn is due to one primary factor —lack of strategic leadership.  Having been intimately involved with residential real estate for over 33 years, it has always been clear to me that this is one of the most reactionary industries there is.  Strategic thinking and execution are so rare that it almost takes my breath away when I am fortunate enough to witness it.

The very foundation of successful strategic thinking and its execution in this industry is sales force accountability.  It doesn’t matter how brilliant your ideas or how shiny the new objects you provide your people.  If you don’t hold them strictly accountable to implementing your strategic vision you will fail, every time.  Yet accountability is the anathema to the body-shop model of hiring and managing sales associates found in the vast majority of companies.  And it is precisely these companies that find themselves in dire straits and most likely to name the economy as the source of their woes.

It was interesting that one of the brokerages I spoke to actually bragged about how they hold their salespeople accountable and explicitly denied providing “bright shiny objects”.  Yet when I asked them how they expected social media training would convert to new business for their people, or how they would even measure it, they responded with “We don’t know.”  Hey, if it glitters…

The current market cycle is an incredible once-in-a-generation opportunity to take significant market share if only because so many are frantically reacting.  To do that requires strategic thinking, superb execution and holding your salespeople accountable.  They need to understand that this is a serious business, not a pastime.  You can give them that perspective and the means to thrive even in the worst of today’s market.  However, if you fall into the trap of providing solace through the glitter of bright shiny objects, you are merely forestalling the inevitable.

Google vs. SkyNet

Sunday, May 3rd, 2009

Google's Worst Nightmare...If you are scifi aficionado then you are doubtless familiar with the evil Internet-based artificial intelligence called SkyNet which is bent on destroying humanity (i.e. Terminator).  While definitely not evil or conscious, the next major evolutionary step for the Internet IS here.  It’s called Wolfram/Alpha and it is a major game changer for Google and a potential life changer for everyone else.  Here’s why…

Google’s primary mission is to index the world’s information and make it immediately and freely accessible to anyone with an Internet connection.  Many people on the planet use it every day because finding the information we want when we want it is really useful.  However, we’ve actually had search engines since the early days (circa 1994) of the Internet.  Google just happens to be the best at it.   However, any search engine has limitations as to what it can do with the information it finds.  In most cases it only returns references to documents that may contain the information you are looking for.

This is where Wolfram/Alpha provides a quantum leap over any search engine no matter how good (or rich).  In addition to indexing the Web, it also curates the information and codifies it so that it is “computable”.  That is, it allows you to ask regular human questions regarding just about anything that has a specific answer and it will provide you that answer plus abundant supporting information.  Now this is where it gets really interesting, the answer may or may not be found anywhere on the Net, which is irrelevant because Wolfram/Alpha computes the answer in real time.  Since all the indexed information in Wolfram/Alpha is computable, this also means you can ask questions about relationships between any number of things and it will spit out the answer.

The folks at Wolfram Research call it a Computational Knowledge Engine.  This can be a bit tricky getting your head wrapped around this one (a typical malady associated with quantum leaps :o ), so here’s a demonstration video featuring Steven Wolfram (CEO of Wolfram Research) at a Harvard University gathering just last Tuesday.

Now Everyone Can Access Expertise For Free…

Google gives us information, but is not capable of really telling us much about that information and its relationship to anything else in the world.  Wolfram/Alpha on the other hand gives us access to expertise that is limited primarily by our ability to ask the right questions.  Now all the rapidly growing petabytes of information on the Internet has suddenly become a whole lot more valuable —in ways that no ordinary search engine could ever hope to duplicate.  The technology behind Wolfram/Alpha is nothing short of astounding and represents hundreds (if not thousands) of man years of development in computational knowledge areas that are highly proprietary (i.e. Google with all its might and money is not likely to dupicate this one).

So how is this going to affect your real estate sales business.  I honestly can’t say for sure at this time.  But I do know this, it will affect your business and just about everything else we do from this point on.  Information by itself is not knowledge.  Instant access to expertise that understands nearly endless relationships between bits of information is the most valuable kind of knowledge.  Wolfram/Alpha totally redefines the bromide “Knowledge is power.”

NOTE: Wolfram/Alpha is currently in restricted Beta but will be released to the public later this month.  Keep an eye out in this blog as I will keep you up to date as I fully explore Wolfram/Alpha specifically with respect to it’s impact on the real estate business.

Why Most Training Fails Miserably —And What to Do About It

Wednesday, April 22nd, 2009

In this market your sales associates are looking to you more than ever for training.  With the order taking days long gone, they certainly have the time for it and many are getting desperate for the “silver bullet” that will magically turn their dire situation around.  We all know that silver bullets don’t exist and real change requires hard work, dedication and commitment.  Yet most training programs, even started with the most sincere intentions, are doomed to fail even before the very first lesson is taught.  Here’s why and how you can make any training you provide totally effective and with a lot less stress…

First, let’s define what we mean by effective training.  Effective sales associate training occurs when their behavior permanently changes to align with what is being taught.  Based on this metric, most real estate sales associate training fails miserably.  Either your training efforts are a frustrating exercise of “talking to a wall” or at best, you have information transfer but little or no implementation.

Kids Are Easy, Grownups Not So Much…

Training adults has never been easy.  Unlike kids, most adults abhor change and long-term behavioral change is the very essence of effective training.  And, the accelerating pace of technological innovation and procedural complexity within the real estate industry makes this task that much more formidable.  Yet the increasingly competitive environment makes effective training a top strategic priority.  Without it, your company is not likely to make it through the current tough market cycle intact.

There is a very powerful and proven way out of this mess.  And to best understand how and why it consistently works requires that we first examine how most training is done today.

There are three basic categories of training for real estate sales people:

  1. Licensing – for the purpose of obtaining or maintaining a license to help people buy and sell real estate for compensation.  Real estate schools, brick and mortar as well as online, currently fulfill this need.  It should be noted that the word “training” in this context is a bit of a stretch.  As the purpose of this kind of instruction is not so much to change one’s behavior as it is to help them achieve the objective of becoming and remaining legally licensed.
     
  2. Basic Skills – to help new sales people a) work effectively from a procedural standpoint (i.e. understanding listing and sales processes, forms, procedures, regulatory requirements, etc.) and b) develop fundamental sales skills that will enhance their ability to generate new business and see it to fruition.
     
  3. Strategic Skills – to help experienced sales professionals develop attitudes, skills and behaviors that will maximize their long-term business growth and success.  This kind of training can include team building, marketing, business planning, use of technology and the Internet, etc.

It is with this last category, Strategic Skills training, that the industry struggles with the most because it requires the greatest amount of behavioral change from the students.  Yet until a sales professional’s long-term strategic behavior changes in accordance with what is being taught, no training has occurred.  It is the change of the sales person’s behavior, not the passing of tests that determines the efficacy of any training initiative.  And most strategic skills training initiatives fall far short of this goal.  The stakes are very high because effective training of strategic skills will also have the biggest impact on your company’s competitive positioning and bottom-line.

The Power of Collaborative Training

There are currently three approaches to training strategic skills being employed.  Perhaps it is best to think of them as hierarchies, with each subsequent approach subsuming the previous one and adding something extra to enhance training results (i.e. long-term behavioral change).

Training 1.0 (Immersive Curriculum)

All training requires a well thought out curriculum with specific learning objectives.  Many large sales organizations and franchises invest heavily in this type of strategic skills training.  Delivery can be both in the classroom or online, synchronous (live instruction) or asynchronous (self-paced), or a combination of both.  While this kind of instruction can measure whether a student understands what is being taught, it does not enforce the ongoing implementation of what was learned.  Therefore, given most adults’ proclivity for avoiding change, the impact of this training model is very limited (just ask any trainer).  It is akin to throwing information at a wall and seeing what sticks.  What is sorely lacking here is ongoing accountability that will ensure what is being taught is also being used.

Training 1.5 (Immersive Curriculum + Accountability)

This is the model used by most of the coaching companies that work independently of the sales organizations.  In addition to teaching strategic skills, these groups (Brian Buffini, CKG International, Mike Ferry, Tom Ferry, etc.) provide a means by which the student is held accountable for implementing their new strategic skills.  While an effective means of achieving long-term behavioral change, this training model has some serious drawbacks.  These include expense (often $400 – $1000 /mo or more) and lack of scalability.  Even the largest of coaching organizations have been able to attract barely 1% of the REALTOR population.  And, in times of down-cycle markets, substantial student attrition occurs when high-cost coaching is one of the first things to be let go as budgets are squeezed.

Training 2.0 (Immersive Curriculum + Accountability + Exclusivity + Collaboration)

This emerging training model addresses all the limitations of earlier ones by leveraging typical sales person behavior rather than fighting it.  It accomplishes this by incorporating the following:

Exclusivity – Not all sales people are ready to be trained.  There are three kinds of “cats” in any sales organization…

  • Cool Cats – these are the ones that see today’s challenges as opportunities, are committed, coachable and willing to collaborate and share ideas with others.  They are much more interested in having a career selling real estate rather than just a job (represent only 5% – 10% of the sales force);
     
  • Tom Cats – these are the “fence sitters” who tend to blame everything and everyone for their problems.  They are not coachable or committed to a real career and think of their business as simply going from one transaction to another (represent about 85% – 93% of the sales force);
     
  • Fat Cats – these are the “old-timers” who are typically very successful but not at all coachable and probably will retire within 3 – 5 years (represent 2% – 5% of the sales force).

The key to success in the Training 2.0 model is to work only with an organization’s elite group of “Cool Cats”.  Sales people want what they can’t have and this type of exclusivity leverages that behavior.

Collaboration – This is where all the “Cool Cats” collaborate, brainstorm and support each other to succeed in the implementation of what is being learned.  This innovative approach allows each individual to tap into the collective IQ and creativity of the entire group.  What emerges is an esprit‘d corps that powerfully enhances the ability to change student long-term strategic behavior.  It is also a way to quickly generate and implement strategic solutions that simply would not have emerged from any one individual.

Accountability – Each “Cool Cat” signs an Accountability Agreement that stipulates the special privileges, responsibilities and accountabilities (including specific consequences) as being part of the elite group.  Any member that fails to hold themselves accountable is removed from the group without hesitation.

Immersive Curriculum – To achieve true scalability, training must be provided online both in synchronous (live group coaching) and asynchronous (self-paced video lessons) formats.  It must also provide a way for students to prove that they have implemented what they learned in each lesson.  Implementation is the first step toward long-term behavioral change.  This approach also allows the curriculum to be disseminated for far less per person than a typical coaching program.

My company has used variations of this Training 2.0 model for the benefit of many real estate sales organizations since 2000.  I developed an “eTEAM” training protocol that involves forming elite groups of sales professionals that are the “Navy Seals” of doing business online within the brokerage environment.  A company’s “Cool Cats” are given a chance to self-identify and apply to join the eTEAM.  Each application is scored by measuring the commitment level of the applicant and their willingness to work with others.  Accepted applicants must then sign the eTEAM Accountability Agreement and pay for their own training.  Once formed, a broker’s eTEAM meets once a week and is facilitated by an eTEAM Leader whose job is to make sure the group works collaboratively and each member is held accountable for implementing what they learn.

The eTEAMS grow over time since some of the “Tom Cats” within the organization that see the success and benefits of being an eTEAM member will eventually seek to join.  Perhaps most importantly however, this Training 2.0 approach turns the typical sales person entitlement mentality into one of commitment and responsibility resulting in long-term positive behavioral changes in a highly scalable manner.

Traditional methods of strategic skills training clearly do not work well if at all.  And, there are no silver bullets.  The industry needs a model that addresses these issues and leverages the power of collaborative networks (both online and off), enforceable accountability and use of the latest online training platforms.  This emergent Training 2.0 approach incorporates these capabilities and provides a proven way to get sales people to change their long-term strategic behavior (for any kind of training) while adapting to rapidly changing competitive environments.

Then again, you could stick with the way you are doing training now and expect different results —but we all know where that leads to.

Your Online "Silver Bullet"

Thursday, February 5th, 2009

Despite the title of this article I am not a big fan of the term “silver bullet”.  It implies that if you do (or purchase) just “one thing” the sky opens up, the birds start singing and all your business problems will suddenly disappear.  There is no such thing.  However, if you implement what I’m about to share below you will realize the closest thing to a “silver bullet” to doing more business online that has ever been offered in the real estate industry.  And, it won’t cost you a dime…

The Amazon River of New Business

Even in today’s toughest markets, the Internet is still the “Amazon River” of new business that most sales people either ignore, or haven’t a clue on how to fish.  In fact, most business is lost with the very first email a sales associate sends as a response to an online inquiry.  How you reply to an initial online inquiry will ultimately determine whether or not you are going to do business with them.

Remember, the online consumer is someone you can’t see, shake their hand, check out their body language or even hear the sound of their voice.  They prefer shopping for properties and services under the veil of anonymity provided by the Internet.  Any attempt to impose traditional (i.e. face-to-face or on the phone) sales techniques with this consumer will only serve to drive them away from you.

Crafting an appropriate response to an initial online inquiry requires understanding what is important to the online consumer:

  • Privacy – everybody who does anything online is concerned about privacy;
  • Staying In Control – this means they want to be in control as to when and how much they reveal about their needs and wants;
  • Unrestricted Access to Information – consumers use the Internet because it gives them instant access to tremendous amounts of information while remaining anonymous. Being required to reveal who they are to receive information will only frustrate them.

Critical First Response Email Script

Let’s apply what we know about the online consumer and create an email first response “script” that will attract the consumer rather than repel them.

Now assume for the moment that you just received an inquiry that looks something like this: 

Most sales associates (if they bother to respond at all) typically start probing for more information and/or attempt to qualify “Jane” -which is exactly the wrong approach.  The following is a script that is specifically designed to “speak the language” of the online consumer and is the closest thing to a “silver bullet” you can find online:

Put yourself in the position of being “Jane”, who just sent the inquiry to a REALTOR.  When you get this kind of response back, how are you feeling?  What does this response say about the sales professional who sent it?

You will note there are two versions of the Critical First Response script above depending upon whether or not the consumer provided their phone number.  Many sales people think that if the online consumer provides their phone number in their initial inquiry, then that is an open invitation to call them.  Ironically, that is typically not the case.  The second version of this script shown above helps you address this situation.  Just send the response, wait 24 hours and then give them a call (assuming of course they did not explicitly ask you to not call them).  You will find that by doing this the reception you will receive at the other end of the phone line will be considerably warmer.

By using this script you will immediately change the relationship you have (or could have) with the online consumer.  And, your ability to convert them into new business goes up tremendously.  In case you have any doubts about the efficacy of these scripts, I receive emails from sales associates all the time who tell me how well it works.  Here’s just a couple I’ve received recently extolling the power of this approach:

I thought Charles’ offer to take me deep sea fishing was quite generous until he said that as a direct result of using these scripts he earned an extra $100,000 in commission in just 3 months.  Oh yeah, almost forgot to mention that about 70% of the closings in his market are REO and Short Sales -without question a rather tough place to do business.

Here’s another sales associate who was so excited when she saw the results of using this script that she shared the consumer’s response with some of her fellow associates:

The first part of the consumer’s response to Talley’s reply is very instructional (highlighted section).  You will see that she explicitly voices the very things we discussed earlier that are important to all online consumers.  It’s as if it came from the mouths of babes!

If It Ain’t Broke Don’t Fix It!

These scripts are easy to implement.  Simply create an email signature for each version of the script, making sure that your spelling and punctuation is correct.  DO NOT be tempted to alter these scripts by even one word (other than of course your contact and PS: copy).  Invariably, when sales people “tweak” the text they introduce their unconscious bias’ into the copy that typically reduces its effectiveness.  I’ve heard some sales associates complain that the scripts don’t “sound like them”.  Chances are they don’t, otherwise they wouldn’t be having the problem of converting online inquiries into closed transactions!

Success with online consumers is all about understanding human behavior.  By applying this understanding in a practical way via “Critical First Response” email scripts you greatly increase your chances of turning casual inquiries into serious new business, no matter how tough your current market is.  While not a “silver bullet”, they certainly are the next best thing.

 

NOTE: Mr. Internet®, RUSSER Communications, its staff and officers receive no compensation whatsoever from any third party vendors (unless he/they are directly involved with the creation and/or improvement of a vendor service or product), and make no recommendations as to the suitability of the products or services mentioned in this article. Always thoroughly investigate any product or service before trying or purchasing.


Mr. Internet is the alter-ego of Michael J. Russer, an internationally recognized Internet speaker, trainer, author, and strategic consultant to the real estate industry. He’s dedicated to helping real estate professionals leverage their people skills into profit on the Internet. Send your Internet questions to help@askmrinternet.com or you can visit his Website at http://www.russer.com


This article is reprinted in its entirety from the January 2009 issue of REALTOR® Magazine by permission of the NATIONAL ASSOCIATION OF REALTORS®. January 2009. All Rights Reserved other than mentioned above. Mr. Internet® is a registered trademark and IECTM and Ask Mr. Internet!TM are trademarks of RUSSER Communications.

Extreme Niching

Friday, September 26th, 2008

OK, all you non-believers out there!  There is yet more evidence that not only does selecting a niche market increase your success, but that the more extreme you go with it, the better off you are.  I have been preaching this for years, yet there is a stubborn majority out there that refuses to listen.  Or, there’s the even more guilty segment who do listen and fundamentally agree, but keep putting the decision off saying they are too busy to make changes now and other lame excuses.

My Niche Back Up Singer

Well, I’m tired of it – my voice is hoarse and my fingers numb from repetition.  So, here ya go… read this article recently posted on Inman News by Lai Saetern: Real Estate Niches Stretch from Nudists to Celebs and the follow up, Real Estate Jobs with Dogs and Logs . Lai’s articles escort us to specialty niches in every corner of the country, ranging from nudists to celebrities to military to dogs (puts a new meaning on the phrase “in the dog-house”, but hey – everyone needs a place to call home, right?).  The point of the article is to describe the extraordinary successes the agents/brokers are enjoying in these highly specialized and somewhat unusual markets.  Now, why would that be?

Oh, and by the way, two of the featured agents in these articles are students of mine.  OK, that’s enough of a rest for me, back on my soapbox for my favorite subject… 

REAL Men (and Women) DO Eat Quiche – AND Have a Niche

One of the number one reasons I hear people quip as a counter argument is “Well, that may work for some people, in a perfect world.  It would never work in my area.”  And another, “But if I limit my market, I’ll exclude so many people – think of all the business I’ll lose!” 

Well firstly, the agents in these articles are REAL people operating under the same market conditions you are, not fictional fairytale characters in a in some distant land once upon a time (though if you think about it, some of those characters would make downright horrific clients!).  And if it works in every region from Florida to New York to Texas to California to Maine, as Lai’s articles show it most certainly does, what makes you so special (or not?) that it won’t work in your neck of the woods?

And speaking of necks of woods, as you know, I travel all over the place giving my schpiel, and I have discovered that over 98% of audiences (representing over 10,000 agents per year) don’t niche!  This leaves a huge opportunity open for those who do to eliminate most of the competition out there.  Besides, you don’t actually have to select just one niche to specialize in!  If you are reluctant to, in your perspective, “limit yourself”, you can specialize in more than one niche – as long as you have separate sites for each target market.

Finally, by wrapping a targeted service brand around a niche provides you with a handy dandy automatic, and lucrative, exit strategy when you are ready to move on.

So, please, do us all a favor, and stop with the lame excuses.  Stand up with the really successful agents and get yourself a niche!

Short Sales as a Niche Short Sighted

Thursday, September 4th, 2008

Sad to say, the number of people trying to short sell their home to avoid mortgage default or foreclosure increases daily.  One may think a savvy real estate agent would look upon this situation as an opportunity to specialize in the short sell process, and garner a fair amount of business by doing so.  However, let’s take a look at the bigger picture…

The Short View on Short Sells

Basically, a short sale is a desperate measure for desperate times – for all parties involved.  The person selling their house is obviously in severe financial distress, and the lender is just looking for a way to cut their losses on a loan gone bad.  The sales prices on short sold properties are well below market value, requires a terribly complicated process, and the time involved for the deal to be completed is painfully long.  These factors combined have to make you wonder if the time you need to invest is worth the payoff.  Trying to make up for it though sheer volume will simply add the headache of tracking and maintaining all these deals to the heartache inherent in the situation.  In other words, it’s a lot of work and hassle for little return.  Wouldn’t it be better worth your time to focus on a niche that would garner less work and greater return?

The Long View Ain’t So Pretty Either

The realities of the short view on short sales aside, let’s take a look at the longer term view.  If you’re like most agents, a fairly decent percentage of business comes from either returning customers or referrals from happy clients.  Well, people who are forced to short sell their homes are neither happy, nor are they likely to be buying a home again for a long time given the hit their credit will take.

Also, although all prognostications say we have yet to hit the bottom of this mortgage crisis, the fact remains that it is ultimately a short-lived situation.  In a year or two, the market will level out again and a new normal will be established.  Short sells will be a beast of the past instead of the everyday occurrence they are now.  Where will that leave your niche, the specialty for which you are known?  You’d be coming’ up short, my friend! 

Primary vs. Secondary Niche

Now, all this is not to say you can’t glean some benefit from the current situation.  After all, most the people who have been backed into the short sell corner genuinely need the assistance of an experienced professional broker or agent to help them through this difficult time too.  There is no reason you should not be ready for the opportunity.  If you see enough value in short sells in your particular area, go ahead and develop short sales as a niche – BUT, do it as a secondary niche to your primary target market.  It would be a short-sighted mistake to rely on short sells as a long-term business strategy.


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