Archive for the ‘FEATURE ARTICLE’ Category

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.

All A-Twitter About Nothing

Friday, August 15th, 2008

The latest and greatest is not always the best and most useful.  This can be especially true of some of the more recent social networking innovations like Twitter (www.twitter.com).  This minimalist  texting / mini-blogging medium ideal for quick and easy connection with your friends and colleagues has caused quite a stir lately.  From a business enhancement perspective however, it appears to be one more “cool tool” looking for a problem to solve.

Twitter is a free service that enables you to send short text messages (maximum of 140 characters) to your “followers” -other people who use Twitter that have specifically chosen to receive your messages.  Think of this as a one-to-many (or in some cases, one-TOO-many!) instant text message.  You can send updates or messages (“Tweets” in Twitter parlance) via the Twitter Website, email, your mobile phone, IM or a special free program on your computer called Twhirl (www.twhirl.org).  As a follower of someone else’s Twitter messages you can receive them on all or any of these devices (i.e. mobile phone, IM, email, Twitter Website, etc.) as well as in the form of an RSS feed.  Twitter is also like a mini-blog since it aggregates all your updates which you can put on your Website or within your regular blog.

So, why bother Twittering? 

Well, from a purely social networking perspective it is easy, fast and very convenient given all the means to send and receive your short Tweets.  It’s also very addictive and completely free, not counting text messaging fees if you use Twitter to send or receive on your mobile phone.  As a serious business communications or marketing tool, I still have doubts.  First of all, the 140 character message limitation puts a severe constraint on any kind of meaningful communication in a business context.  You also have to build your base of “followers” in order for them to receive your Tweets.  At this time one would be hard pressed to say that any sizable base of potential real estate customers are currently using Twitter.  And while one-to-one private messaging is possible, Twitter was really designed for one-to-many communications which makes private discussions about properties or offers somewhat problematic.

Real Estate Twitter Not So Tweet…

In various blog discussions about the business uses of Twitter, some suggest that it is a great way to keep agents within a brokerage or members of a team up to date.  I can see how this might work if you personally help each person set up their mobile phone to receive your Twitter messages, otherwise forget about it.  Agents have a hard enough time just following their email consistently.  For the purposes of this article I interviewed Andy Kaufman of Williams Realty in Berkeley, CA (www.myeastbayagent.com), who is arguably the Twitter “Guru” of real estate agents.  Over the past year and a half he has amassed nearly 2,100 followers (what he refers to as his “online village”) and really loves the social networking aspects of Twitter.  When asked if he has actually seen any new business from it during this period he said he is currently working with one prospect he met thanks to Twitter.  However, he feels the biggest business benefit is meeting other REALTORS® who use Twitter and developing referral relationships as a result.

While Twitter may be the next great Web 2.0 application that is out of this world (NASA recently used Twitter to keep fans of the new Mars Lander up to date on its adventures), its use as an effective earth-bound business tool has yet to be proven.

To Capture Or Not To Capture – That Is The Question!

Tuesday, July 22nd, 2008

A recent column by Teresa Boardman titled “Consumers Don’t Want to be Captured” on Inman News about whether or not agents should capture people’s personal information generated a firestorm of commentary.  It also demonstrated pretty darn clearly how divided the real estate industry is over this topic!

The people who commented fell pretty much into one of two categories:  Gatekeepers versus Free-Willers. 

Gatekeepers are the “command and control” types who feel the need to monitor and manage each interaction.  This is typically done by restricting access to their site, requiring visitors to register to see valuable content, hence divulging personal information most would prefer to keep private until a decision is made.  The end result here is people registering under a wide array of aliases (apparently Brad Pitt and Bud Weiser are interested in the same kinds of properties!) if not being scared off altogether.

On the other hand, Free-Willers rely on the premise that if they provide enough valuable and compelling content, visitors will see their site as an indispensable resource, and register of their own free will (hence, the nickname for this group of thinkers).  The result here is they may not get as big a pond to go fishing in, but the fish are much more willing to bite!

The Lead Capture Argument

I was fascinated reading the back and forth volleys the two sides in this written battle were lobbing at each other!  Both had arguments based on everything from statistics to studies to consumer psychology.  There were agents who avowed they would never do it another way and agents who had tried it both ways, and there were a very few agents that tried to walk a careful middle ground.  Some were getting, ummm… “testy” would be an understatement in defense of their particular position.  There were doubts expressed about the success of drip campaigns, there were questions about the conversion rates from lists.  You can read the whole series here: http://www.inman.com/buyers-sellers/columnists/teresa-boardman/consumers-dont-want-be-captured

But, here is what it boiled down to for me:  the title of the article is 100% correct.

Think about it – NO ONE wants to be captured.  The very word “capture” is threatening!  It basically says “Come to my lovely website, where I will hold you hostage for the rest of your days.”  Fortunately, there is a way to make it work for everybody, internet consumer included!

What Both Sides of the Capturing Leads Argument Are Missing

Sorry, Gatekeepers – your way may have worked in the past when the internet was new and there was less competition on it, and the threat of misuse of personal information was not a daily concern.

Sorry, Free-Willers, but it really is ok to ask people for information.  You just have to do it in the right way.

Yes, everyone agrees you need to have compelling and valuable content to draw visitors, but forcing them to register to see it is simply a symptom of not knowing how to deal with the online consumer.  Most agents attempt to “take charge” of the interaction by getting the visitors’ information and continually probing them thereafter (and space aliens can do it more gently than some real estate agents I know).  What these agents need to understand is the difference between a “lead” and an “inquiry”:  95% of qualified online inquiries (they are not “leads” yet) are just trying to gather information and are not ready to open up about their needs.  However, the other 5% who are ready to do something within a short time frame (actual leads) still want to remain in control and be assured that their privacy will be protected.

This does not mean that you should not feel free to ask your visitors about their current status or intentions.  One of my Online Dominance students has a simple yet highly effective means to do this – he asks them to pick a self-rating:

  • A = I am looking to sell or buy now
  • B = Will probably want to do something in the next 6 months or so
  • C = Just looking and not ready to make any decisions. 

When people answer A or B, he then asks their permission to contact them with updates they would find useful.  He then determines what this information may be by judicious use of search and request forms scattered about the site.  However, regardless of their answer, they have full run of his site.

Capturing Leads for Sales versus Marketing

A number of Gatekeepers expressed the opinion that they are in the business to sell and make money and site visitors should inherently understand and accept that, hence be willing to play by their rules.  Well, here’s the problem with that mindset (and this is going to blow some minds) – a real estate website is NOT about Sales.  It’s about attracting visitors, providing good information, positioning yourself as an expert in your niche, in other words… it’s about Marketing!  

These are two completely different undertakings, yet are so easily mushed together by the average real estate agent.  I’ve been teaching these principles for over 13 years and it still amazes me how this is such an “aha!” moment when agents really get it.

Your Turn to Comment!

So tell me, what are your thoughts about capturing leads?  Do you do it, and if so, how?

Almost Like Being There – Google Street View Now Available to Agents!

Wednesday, July 2nd, 2008

The use of Google maps has long been a listing display enhancement feature for many real estate agent Websites in one way or another.  However, it wasn’t until very recently that Google’s latest mapping innovation, Street View, was made available to individual agent sites as well.

Street View is the newest feature of Google Maps that allows you to literally see a 360 degree “street view” of any location that has been map-enhanced in this way.  The best way to see this for yourself is to use Google Maps to view any of the cities that have Street View enabled (go to http://maps.google.com/support/bin/answer.py?answer=68384&topic=11640 for a list of cities where Street View is currently available – 40 as of this writing).  Then click on the “Street View” option in the upper right hand corner of the map Web page.  Those streets that have been continuously photographed (at street level) will show up in blue outline.  When you click within any of the blue outlined streets, a little person icon shows up along with a window containing the actual street view image.  You can rotate this image by simply dragging your mouse left or right with the mouse button held down.  You can also “travel” along the street by clicking the direction arrows imposed in the image.  Google even uses a pointer under the icon to indicate which direction you are looking relative to the rest of the map as you rotate the image.  And, these street view photos are high resolution images which can be blown up to near full screen size for incredible clarity.

Up until just recently, Street View was not available to 3rd party users of Google Maps (like individual agent sites, or property search sites like Zillow).  However, on ­­­­March 27th, 2008 Google formally released the Street View API (Application Programming Interface).  These are the instructions Web designers need to plug Street View capabilities into 3rd party Google Maps.  Well it didn’t take long.  Literally within three days of the API’s release, individual agent sites were starting to incorporate Street View into their listing’s Google Maps.  To the best of my knowledge, Kevin Tomlinson of Miami Beach, FL had the first agent site to feature Street View for his listings.  You can see an example of how he uses Street View by going to www.kevintomlinson.com/condo-map.php (be sure to zoom the map a bit to see the roads more clearly).  You can expect to see many more agent sites incorporating Street View.  This is also true for many of the listing aggregator and search sites.  In fact, Trulia.com just announced that they were incorporating Street View into the maps of the areas that have it available.  If you are interested in using Google Maps Street view on your site, check with your Web developer, chances are they already know how to do it.

Google really pulled off some magic with Street View.  Using a battalion of vehicle-mounted roving cameras that take 360 degree view photos, they have shot many of the streets of the largest U.S. cities.  This technique along with a highly intuitive user interface gives the sensation of really “being there” to the person viewing the map.  The implications for potential buyers getting a better feel for the surrounding neighborhood of a listing are immediately apparent.  This also begs the question if this is a good thing for all listings.  All you can do is hope that the day the Google Street View Mobile drove past your listing, a bunch of overstuffed garbage cans or an old junker wasn’t nearby and became irrevocably incorporated into the scenery of your new listing. 

Best Practices… Says who?

Thursday, June 12th, 2008

Says me!  Everyone has their idea of what works and what doesn’t.  And, considering the overwhelming quantity of webinars and e-courses and cd sets and ebooks out there on everything from “Real Estate Staging” to “How to Conduct Webinars” (seriously!), apparently Everyone wants you to pay for them to tell you what they think.

So how the heck are you supposed to figure out who is worth paying for their opinions or not?  It’s almost as confusing as, say, a Democratic presidential nomination :o )  OK, political jokes aside, this can be serious given the investments some of these classes require.  Well, here’s my suggestion – like with anything else, do your due diligence. 

Don’t just jump at a topic that seems interesting to you.  Find out what kind of experience the presenter has, their qualifications for presenting on the topic.  Someone may have great ideas, that should work, usually, in theory, if a black cat circles counterclockwise around a mulberry bush while the planets are aligned properly…  In other words, if the background of either the practice or individual seems way too far fetched for you to get behind, then it isn’t for you.  You need to have a basic acceptance of the premise to start with before you get any value out of it.  Similarly, be sure to find out about the presenter’s approach and philosophy.  For instance, someone may know how to make a ton of cash off people but if their approach is brutish, or just not the way you would want to be treated, then don’t wate your time or money.

So, who is to say what are the Best Practices for Online Communication?  Says me!  Or well, me and my years and years (and years…) of experience.  Plus the fact that these practices have been proven by countless agents and brokers who use them to operate successfully everyday.  So read on – see how these resonate with you.  And of course – yes, the obvious plug is coming here – if these do work for you, consider trying out Online Dominance and see what else my years of experience can help you with!

(more…)

Three Ways To Turn Your Web Forms Into New Business Generators

Thursday, March 27th, 2008

by: Michael Russer (a.k.a. Mr. Internet®)

REALTOR® Magazine – March, 2008

Your Website forms are the most direct way for your site visitors to contact and interact with you —they are literally the doorway to new online business. Unfortunately, this door is slammed shut for most agent sites. Getting prospects to complete your Web forms (with accurate information) is not hard once you know how. In fact, here are three proven strategies that will have your visitors actually excited about filling out your forms…

(NOTE: the following assumes that you are giving your visitors something of value in exchange for completing the form.)

STRATEGY #1: Tell them they don’t have to complete it!

One of the biggest mistakes that Website owners make with their forms is insisting that the visitor provide full contact information. This is the old “gate keeper” mentality that essentially says: “I’ll give you the information you want if you tell me who you are.” This simply does not work well with the online consumer who initially enjoys the anonymity the Net affords them and in fact can drive them away. And, this is the primary reason why so many consumers enter blatantly false information on Web forms.

Here’s an entirely different approach. Put the following copy above each and every form on your site and watch what happens:

We understand that you may be in the information gathering stage and may not be ready to open up about who you are or your real estate needs at this time. If you are not comfortable providing all your contact information that is perfectly okay. Just enter your email address so we can send you the material you requested.

(NOTE: make sure that the only mandatory field on your Web form is the email address)

Human nature is a funny thing. Tell people they have to do something and they’ll dig in their heels. Explicitly tell them they don’t have to and chances are they will complete all of it —with accurate information. Now put yourself in their position, how would you relate to a Web form if you saw that copy directly above it?

STRATEGY #2: Reassure them of their privacy

Privacy is extremely important to online consumers. The more you can explicitly reassure them that their information will be kept safe and not abused, the better. In addition to the copy above (in STRATEGY #1) add the following (on every form):

Please be assured that your privacy will be kept sacred and your information will never be shared with any third party.

By the way, you should also have a link to your formal Privacy Policy at the bottom of every page of your Website.

STRATEGY #3: Give them visual cues to complete your form fields

It’s been shown anecdotally that if your form fields have a pale yellow text area color, online consumers will often take that as a cue to complete the field, even if it is not mandatory to do so. Another aspect of this is to have your Web designer make your forms visually appealing and fun to use. Form design is one of the most overlooked areas in Web design with potentially the highest payoff. Don’t settle for plain vanilla forms. A little thought invested into the design of your Web forms can give you a big return.

The Mother of All Web Forms…

A couple of years ago I created a very special kind of form called a MOVA Assessment. This was by far my biggest form and it was designed to engage homeowners who were thinking of selling their home. (CLICK HERE
to see an example)

NOTE: this is a live form on the Web that has been pre-filled in for demonstration purposes. See what happens when you hit the “Submit” button at the bottom.

You will see that this form incorporate every aspect of the three strategies mentioned above —and quite successfully so. The feedback I’ve received so far is that if a homeowner completes this form, there is about a 95% chance that they will turn into a listing. Now just imagine you are a homeowner thinking of selling. Review this form and the questions it asks, and just as importantly, how it asks them. As a potential seller what are some of the conclusions you are coming to about the agent that supplied this form? And, was it a burden or opportunity to take the few minutes to do it?

The forms on your Website shouldn’t be an intimidating barrier to having online consumers engage with you. Instead, make them your welcome mat, a friendly inviting threshold that will help turn casual visitors into serious clients.

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. You’ll see his column on REALTOR® Magazine Online every month and in the magazine quarterly. 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 March 2008 issue of REALTOR® Magazine by permission of the NATIONAL ASSOCIATION OF REALTORS®. March 2008. All Rights Reserved other than mentioned above. Mr. Internet® is a registered trademark and IEC™ and Ask Mr. Internet!™ are trademarks of RUSSER Communications.

Google Gears Up for Online Applications

Saturday, February 23rd, 2008

REALTOR® Magazine PRINT EDITION – February, 2008

It’s no secret that search engine behemoth Google is muscling in on Microsoft’s territory with its suite of online applications called Google Apps. One of the big drawbacks of using these application tools is that you can only work on them when you are online. That is about to change in a big way…

Free Software Applications On Demand

Google Apps is an online suite of applications including email, chat, calendar and document creation (word processing, spreadsheets and slide presentations). Google Docs is the part of Google Apps that allows you to create, edit, share and manage these documents all through your Web browser for free. Do these online word processor, spreadsheet and slide applications have the same bells and whistles as Microsoft Word, Excel and PowerPoint? Not even close. However, for many people and businesses they have enough to get the job done and, in addition to no cost, have the added advantage of allowing collaboration with multiple parties through the Web. Also, you never have to worry about backup because everything is stored on the Google servers.

The problem is, very few people are always online which is a big limitation to the practicality of using these applications. Google in its prescient wisdom recognized this early on and has started a beta program to address this issue for its Google Docs applications and for any other online application from any vendor.

Putting Online Applications Into High Gear

Google Gears is an ambitious initiative that promises to supercharge the ability of online applications to work just like the ones installed on your computer. It is essentially an open source browser extension which enables web applications to provide offline functionality using the following JavaScript APIs (Application Programming Interface):

• Store and serve online application resources on your computer

• Store application data on your computer in a fully-searchable relational database

• Run asynchronous Javascript to help your online applications run faster

The importance and impact of Google Gears cannot be overstated. It is the last piece of the online application puzzle that will finally bring online applications into the mainstream as viable software alternatives to the ones you install on your computer. And remember, Google isn’t just creating this for their Google Docs suite of applications. They are building it so any vendor offering online applications can provide offline functionality. No wonder Microsoft is concerned.

Google Gears is still in beta testing and will eventually be released as a finished product. When it is stand back and watch the entire world of online applications suddenly become viable (and much less costly) alternatives to traditional “shrink wrap” software we’ve all come to love / hate for so long. And when that happens, everyone wins.

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 2008 issue of REALTOR® Magazine by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright © 2008 All Rights Reserved other than mentioned above. Mr. Internet® is a registered trademark and IEC™ and Ask Mr. Internet!™ are trademarks of RUSSER Communications.

Boost Site Profitability by Measuring Visitor Behavior

Wednesday, December 19th, 2007

REALTOR® Magazine – January, 2008

Measuring your Website visitor statistics is obviously important because it tells, among other things, whether or not your site is well-trafficked. What these statistics don’t show however, is what the visitors are actually doing when viewing any of your sites pages. Measuring that behavior is critical to fine-tuning your site’s ability to turn clicks into closes. Fortunately, there are several very easy and clever ways to do this…

Heat Maps – Determining What’s “Hot” and What’s Not

Crazy Egg (www.crazyegg.com) is a relatively new and highly affordable service that allows you to track visitor behavior on any page of your site in the form of “Heat Maps”. Think of a heat map as a visual overlay showing where visitors are physically clicking on a page. The brighter (i.e. “hotter”) a spot is on your page, the more people are clicking on it. For example, click on the each of the thumbnail images below to see how this looks full size. The one to the right is what the www.sunnyvailrealestate.com Website home page looks like. The one on the left shows the heat map overlay of visitor “clicking behavior” on that page.


This heat map not only shows the concentration of clicks, but quite literally, where the mouse was when they clicked. It will even show you evidence of people trying to click on things that are not clickable (but perhaps should be). These heat maps are typically generated over a test period for a fixed amount of time or a set number of visitors.

The reason these heat maps are so important is that they provide deep insight as to what visitors find valuable on your site, and just as importantly what they don’t. One student of mine used heat maps to discover that what she thought was an “irresistible offer” on her home page was anything but from her visitors’ perspective –almost no one was clicking on it. This gave her actionable insight to change her irresistible offer into something more… well, irresistible –then tracking visitor behavior again to see if it worked any better.

You can try Crazy Egg for free, just go to www.crazyegg.com and sign up. During the registration process it will ask you which pages you want to track and then give you a special snippet of code to place on each page to be monitored (a simple one minute task for your Web person). Then all you do is indicate whether you want the test to terminate after a certain period of time or after certain number of people have visited your site. When the test is done you can view your heat map to see what’s hot and what’s not on those pages. Then by all means, make adjustments to the less popular parts of your site to make them more valuable in the eyes of your site visitors.

As powerful a tool as heat maps are, they are not the only way to monitor your visitor behavior…

Looking Over the Shoulder of Your Visitors

Robot Replay (www.robotreplay.com) is an innovative service (currently free) that will record user sessions of your site pages in the form of videos. These videos will show visitor mouse movements, where they clicked, moving from page to page, form interaction –including where on your forms they simply give up, etc. What you see in these videos is like looking over your visitors shoulders as they peruse your site. You can see demos of this by going to the Robot Replay Website at www.robotreplay.com.

Like Crazy Egg above, it just takes adding a single line of code to the pages you want to monitor (and yes, you can use both Crazy Egg and Robot Replay at the same time). This service is currently in beta testing and can be a bit quirky at times. However, once they work the bugs out I see this as an awesome tool to really understand what your visitors do when they land on your site. SPECIAL NOTE: since this service will show everything your visitor does, including partially completing forms, it is probably a good idea to modify your Privacy Policy to indicate that your site is doing this kind of monitoring. Check with your legal advisor to be sure.

Just tracking your site statistical analytics (unique visitors, page views, referrals, etc.) is no longer enough to ring every last ounce of business producing potential from your Website. Once you monitor the very behavior of your visitors, only then will you have the insight necessary to stay on the path of incremental improvement that will maximize your site value.

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. You’ll see his column on REALTOR® Magazine Online every other month and in the magazine quarterly. 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 2008 issue of REALTOR® Magazine by permission of the NATIONAL ASSOCIATION OF REALTORS®. January 2008. All Rights Reserved other than mentioned above. Mr. Internet® is a registered trademark and IEC™ and Ask Mr. Internet!™ are trademarks of RUSSER Communications.

5 Best Practices for a Profitable Real Estate Website

Wednesday, October 17th, 2007

by: Michael Russer (a.k.a. Mr. Internet®)

REALTOR® Magazine – October, 2007

Ever wonder why so few REALTOR® Websites even come close to reaching their potential for generating new business? It’s not for lack of site traffic, I know lots of agents who have all kinds of traffic but no new business to show for it. The answer lies in the fact that most sites are not built according to proven best practice standards. Which means other than looking good and having lots of generic information, most agent sites miss the mark in terms of truly engaging with the online consumer. Here are five best practices that if incorporated into your Website will make a huge difference in its ability capture your visitors’ attention and generate considerably more profit for you…

1 – Target, Target, Target

I’ve said it a thousand times and I’ll say it again: targeting your Website for a specific niche market is the most powerful thing you can do to make your Website truly effective as a lead generation tool. The vast majority of REALTORS® make the mistake of using generic Websites that try to “speak to everyone” which results in engaging no one. Your site must be able to answer the question: “What’s in it for me?” from the perspective of a specific target market, otherwise your visitors will simply ignore it.

Here are some examples of highly targeted Websites:

•    www.skiptheoutfit.com (this has to be one of the most unique target markets I’ve ever seen!)

•    www.goarmyhomes.com

•    www.nosnownaples.com

Targeting is so important that without it, the following four best practices will have little impact on improving your site’s ability to generate business. With it however, these next standards will make it that much more powerful…

2 – Web Copy That “Speaks” To Your Visitors

Effective Web copy starts with headlines that grab your visitor’s attention, otherwise they are not likely to read much of your other copy. Most REALTOR® Websites incorporate no headlines at all –and that is a huge lost opportunity. Your headlines need to be crafted in such a way that they reflect the “emotional profile” of your target market. For example, headlines designed for 1st Time Buyers are very strongly worded and typically tap into the fear and excitement of buying their first home. Headlines written for the sophisticated luxury buyer or seller on the other hand are much more subtle and refined often stroking the ego of this particular market segment.

Also, the body of your Web copy should create a one-on-one conversation between you and your visitor. They should feel that you are speaking with just them, as if you are sitting right next to each other. In my experience it seems that most agent Websites are written in either first person (“I”, “me”, etc.) or third person (i.e. about you, as if you were a celebrity). If you really want to connect with your visitors, have your copy written in second person, where there are lots of “you”, “your”, “yours”. This may seem like a minor point; however from the perspective of your Web visitors it makes all the difference in the world.

3 – Keep Your Site Internet Empowered Consumer (IEC) Friendly

If you are not careful, your site could end up driving visitors away rather than engage them. Here are some standards of Web design to help make sure your Web visitors feel welcome and safe:

•    Privacy Policy – having a privacy policy can go a long way to making your visitors feel safe on your site. To see an example of what one looks like just go to http://blog.onlinedominance.com/privacy-policy/

•    Don’t Require Visitors To Reveal Who They Are – if you have forms on your site make sure that they let the visitor know that they are not required to fill everything out. Consumers use the Internet because it affords them a sense of anonymity. Take that away by insisting they complete all the fields (especially the contact information ones) and you will likely drive many of them away. Human nature is really interesting. Tell people they have to do something and you will find a load of resistance. Reassure them they don’t and they probably will just because they like your friendly approach.

•    Have Your Forms Give Instant Feedback – when a visitor completes a form, have your site instantly show a confirmation / “Thank You” page. This adds to the perception that you “heard” their request, thus feeling more connected. Your site can also fire off a confirmation e-mail as well, however it is important that they see immediate feedback.

4 – Keep Your Site Navigation Simple

We all know that a confused mind says “NO!” That being the case, many real estate agent Websites are hearing a lot of “nos” because their home pages are offering way too many options. At most you want your site’s main navigation menu to offer no more than seven choices. Within each of these main menu options you can have submenus, just don’t go overboard with those either. Also, avoid having your visitors work too hard to find what they want. Ideally, all your content should be within three clicks reach from the home page.

5 – Visitor-Friendly Look & Feel

Make sure the look and feel of your Web design is consistent throughout the site. It should also be appropriate for your target market. For example, less sophisticated target markets (1st Time Buyers & Sellers) can have a more light-hearted design approach. More sophisticated ones (Luxury, investors, etc.) require a more refined and stylish look.

Ideally, have your site located to show up in the center of the browser window and designed to fit (without horizontal scrolling) for monitors set at 1024 x 768 pixel resolution or greater. Lastly, make sure your Web designer has your site conform to W3C standards and use appropriate Cascading Style Sheets (CSS) to globally control the look and feel of your site. (NOTE: don’t worry if you didn’t quite understand that last sentence, just make sure your Web designer does!)

52 More “Best Practices”

The five best practices given above will go a long way in helping make your site into the online lead generation machine it was meant to be. However, these are really just a few of the 57 real estate Website best practices and standards we’ve outlined in a new book I co-authored with my Web designer Brad Carroll of Dakno Inc.. It’s called The Real Estate Success Guide – 57 Proven Elements Every Successful Website Must Have. We wrote this because no one else had bothered to define and outline these important Web standards before. It also contains a handy checklist for your Web designer (written in their language of Web technology) which you can just hand to them to make sure your site maintains the best standards possible to help ensure the highest levels of online profitability.

In every profession imaginable there are well-defined standards of practice to help insure a consistency of excellence, no matter who is providing the service within the respective field. Why should it be any different for real estate Web sites? The simple answer is, it shouldn’t.

NOTE: Mr. Internet®, RUSSER Communications, its staff and officers receive no compensation whatsoever from any third party vendors 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. You’ll see his column on REALTOR® Magazine Online every month and in the magazine quarterly. 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 October 2007 issue of REALTOR® Magazine by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2007. All Rights Reserved other than mentioned above. Mr. Internet® is a registered trademark and IEC™ and Ask Mr. Internet!™ are trademarks of RUSSER Communications.

How to Recruit Top Agents Using the Web

Friday, October 12th, 2007

by: Michael Russer (a.k.a. Mr. Internet®)
REALTOR® Magazine – November, 2007

In any market, recruiting top sales talent is always a top priority for success-minded broker owners and managers. In today’s challenging markets fraught with so much uncertainty and discontent, smart recruiting can yield a veritable gold mine for your company. What very few companies realize however is that the most powerful way to tap into that gold mine is through the Web. Here’s how…

Three of the Biggest Recruiting Mistakes Companies Make on the Web

Most Web-based recruiting efforts I’ve seen are little more than a one page advertisement about how great the company is. This is not a very effective approach. Here are the three biggest “sins” committed by brokerages attempting to use the Web to recruit:

1. Use the corporate consumer site as a recruiting platform – if you want to powerfully connect and engage seasoned agent recruits you need a Website dedicated to just that. To do otherwise “dilutes” your message to them and your consumers.

2. Talk about how great your company is – let me say this as delicately as I can: They don’t care! Potential recruits only care about what your company can do for them —period! Far too many companies and managers confuse features vs. benefits when it comes to recruiting online or offline for that matter.

3. Fail to engage – “Call us for an appointment!” or asking them to fill out a Web form to schedule one is hardly a compelling call to action. There is a huge gap between a seasoned agent’s first thoughts of switching companies and risking an interview with you. This is a long sales and trust-building process that requires far more sophisticated levels of safe, discretionary Web engagement before they are willing to set that appointment.

Fortunately there is an approach using the Web that powerfully addresses the above issues and provides a highly systematic way of generating a steady stream of seasoned recruits for your company. The first critical step however is understanding potential recruits from within an online context…

Agents Are Online Consumers Too

Just like your real estate consumers, recruiting prospects enjoy the ability to “shop” for brokerage alternatives using the anonymity and convenience of the Web. Pushing them to reveal who they are or setting up an appointment before they complete their “information gathering” is a big mistake which will only push them away from you. Instead, you can use their need for information gathering (i.e. checking out the alternative company options available to them) to help them come to their own conclusions that your company is the best option.

To achieve this goal of beating your competitors for the best recruits requires a separate Website dedicated to the recruiting process. Here are some of the critical elements necessary for a Web-based recruiting system:

• Make it about them – everything within your recruiting site needs to answer the question “What’s in it for me?” from the perspective of the seasoned recruit. And it needs to do so in a unique and powerful way that differentiates you from your competitors. Avoid the temptation to talk about how wonderful your company is, instead focus on how they can have an extraordinary career that focuses on making more money, having more free time off and enjoying more what they do. You can even tease them with ideas on how they can create a powerful “exit strategy” that will pay them big dividends for when they will retire. If this sounds a bit like coaching, that’s because it is. They will only care about you and company once they know, really know you care about them. Each bit of Web coaching content can be tied to a “contact point” that steps them through the process of eventually setting up an appointment once their trust level is built up.

• Engage them, don’t “tell” them – you recruiting site copy should be written in 2nd person (i.e. lot’s of “you, your, yours”) and ask open-ended questions that causes your recruiting prospect to think about their career in ways that they may never have considered before. The use of a well-designed “Career Assessment” is ideal for this purpose. Remember, when you (or your site) “tells” them something, they will take it with a grain of salt. By asking the right questions, your site will facilitate them coming to their own conclusions that your company is a superior option. The most powerful form of persuasion is helping people come to their own conclusions.

• Constantly reassure them – from the perspective of the typical seasoned recruit, exploring other company options can be a risky pursuit. It is incumbent upon you to have your recruiting Website constantly reassure them that you will maintain the highest levels of discretion and confidentiality. This includes having a link to your Privacy Policy on every page and language on every Web form that essentially says: “We understand that discretion is of upmost importance to you as you explore your career options. Be assured that if you are not ready to open up about who you are at this point that is perfectly okay, our staff will completely respect your need for privacy.”

• Have an automated follow up system – when recruits request addition information from your site, put it in the form of a series of “coaching” emails. This is effective drip marketing where every message they receive from you will be considered highly valuable and unique to your company.

Just like online real estate consumers, your online recruiting prospects need time to build trust in you and your company and be convinced that you offer them the best option. Eventually they are likely to contact you for an appointment. When that happens, your dedicated recruiting Website has done its job and then it’s time to enter into the “sales & closing” phase of the recruiting process when you meet them face-to-face.

Driving Traffic to Your Recruiting Website

Forget about using search engine positioning to drive any meaningful traffic to you recruiting site. Very few if any veteran agents will use a search engine to look for alternative brokerage options. Let’s face it, unless you are in a humungous market, they already know you exist as an option. Here are the steps to driving traffic to your site:

1. Determine Your Target Market – this means generating a database of names and home addresses of every agent in your market place you feel meets your criteria and will be compatible with your company culture;

2. Create a Compelling Drip Postcard Campaign – I suggest an 18 piece campaign that is sent out to your database every three weeks (to their home, not their office!) Now this next part is important. The whole purpose of the postcard campaign is to have them go to your recruiting Website, perhaps to receive a complementary business assessment or special coaching tip. Don’t make the mistake of highlighting the benefits of joining your company. If you do, the postcard will be “round filed” instantly. They must go to your recruiting Website if you expect it to do the heaving lifting of the recruiting process for you.

3. Use An Attention Getting Postcard Design – you can send 11.25″ x 5.75″ super jumbo two-sided, four-color fully laminated postcards with addressing and postage for about 75 cents apiece through Expresscopy.com. This is an incredible service at an unbeatable price. And, if designed appropriately, this super-sized postcard really gets their attention.

Now you can try to create your own recruiting Website and back-end marketing and tracking systems yourself, but I don’t recommend it. It’s a lot of work and takes an enormous amount of planning and programming to pull it off correctly. Fortunately, there is a turnkey solution that can get you up and running with a fully customized Web recruiting system in no time…

The Industry’s First Web-based Recruiting System

TheCyberRecruiter.com is the industry’s first comprehensive system to utilize the power of the Web in the recruiting process. I was so impressed when I saw a demonstration of their system and how closely if followed my principles for online engagement that I became an advisor to the company. The folks at The Cyber Recruiter will create a customized recruiting Website designed to fit the culture of your company. These sites focus heavily on the career of the recruit and have many points of “engagement” that help build trust so that calls to action (i.e. setting up an appointment) is a natural outcome of the process.

You can see an example of their recruiting sites by going to www.palosverdesrecareers.com. As you review this site you will see that the focus is primarily on the recruit. It even gives them free coaching on how to improve their business, without any commitments of any kind. In addition to the site, The Cyber Recruiter system has a complete Web-based recruit tracking system and also provides live group coaching on how to most effectively use the system and how to “close the deal” once you meet with the recruit. One of the founders of this service is Jon Cheplak, one of the most experienced and well-known names in real estate recruiting.

Is this a perfect Web-based system. No, but it is the closest to it I’ve yet seen. Part of my role as an advisor to the company is to help them incorporate even more powerful Web methods and strategies to turn recruit clicks into solid hires for your company.

Now Is The Time

Uncertainty in the market place breeds discontent. Discontent is a powerful initial lever to have great seasoned agents look at other affiliation options. Today’s environment is a huge opportunity to gain enormous market share —if you do it right and take action now. Incorporating a well-designed Web-based recruiting system is not only right thing to do, it’s the strategically smart thing to do.

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. You’ll see his column on REALTOR® Magazine Online every month and in the magazine quarterly. 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 October 2007 issue of REALTOR® Magazine by permission of the NATIONAL ASSOCIATION OF REALTORS®. November 2007. All Rights Reserved other than mentioned above. Mr. Internet® is a registered trademark and IEC™ and Ask Mr. Internet!™ are trademarks of RUSSER Communications.


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