Just do it, and do it well

You don’t necessarily have to aspire to be one of the top 10% of agents who dominate the market. You just need to know what works, have a realistic plan and execute with conviction and energy!

1. Know your niche market.
2. Know your inventory.
3. Know the comparables.
4. Be yourself and market your service like crazy.
5. Always work for the best interest of your clients.

Getting up to speed is the price to be paid for long-term success. Once you have the knowledge and expertise, the energy to maintain that plateau is the easy part.

Knowing your market trend

The “month of inventory” as measured by the supply/demand for homes and sometimes referred to as absorption rate is a much-improved indicator of market swings. It’s a formula that takes the number of weeks it takes to sell the current inventory at the present rate of sales. Using a moving 3-month average sales against current inventory help to moderate the sudden swing in the supply/demand ratio as a meaningful tool in gauging the market.

Market statistics and charts

The real estate board has monthly reports and charts allowing you to create custom reports to provide to clients and customers. You can make full use of the info and blend your reports, newsletter, etc that you can provide to your clients. How you do this could very well differentiate you from your competition.

You board’s MLS systems make it easy for you to keep abreast of recent listing activity, with reports showing expirations, new listings, cancellations, sold listings and price changes. You must be watching these reports on a daily basis.

If a buyer or seller who is not sure yet if he wants you to represent him, your knowledge of the market will give you a better chance to win over your client

Competing for listings

A properly prepared comparative market analysis (CMA), will allow you to communicate to your seller on pricing their property for sale. It is easy  to spot trends and understand the difference in value between homes in a subdivision, neighborhood, or between different locations in city. A similar house on the other side of town might sell for 10 percent more than your target property.

Site influence like T-junction, arterial road, etc all have an impact and affect the value of a home. A home in a cul-de-sac rather than on a busier through road, views of the mountains or ocean is valued differently. Have a strategy to counter clients who are considering the service of a top producer. Your best answer to convince your client is your service – you have to prove that you deliver “extraordinary service”

Attracting clients with your knowledge

Once you have you are equipped with comparative info on your market, you can talk with confidence and use your knowledge to attract new clients. And one of the best places to do that is on the Internet. Market yourself and your service aggressively as the expert for your niche market.

WordPress is an easy to use platform  that you can easily create internet sites where you can share your knowledge. Adding a splattering of MLS listing displays, creating neighborhood, subdivision and town/city guides that potential buyers are seeking will set you apart from your competitors.

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What is Organic Search Engine Optimisation (SEO)?

Organic Search Engine Optimization (SEO) is the process of increasing the amount of visitors to a website by obtaining a high-ranking placement in the search results page of a search engine (SERP). The higher a website ranks in the results of a search, the greater the chance that website will be visited by a user.

Building Online Traffic

Traffic is the life-blood of your business, and the source for new clients for your real estate business. Online visitors looking for real estate are looking for “homes for sale info”, and for sellers, they are looking for info on homes similar to theirs that are for sale.

The question is “How do you get them to visit your website?

Home buyers when searching online for MLS listings, generally they have an area in mind, the type of homes they are looking and a price range they can afford.

If a home buyer is looking for a townhome to buy in Richmond, he or she will likely use search phrases like “Richmond townhomes”, “Richmond townhouses”, “Townhouses for sale in Richmond”, Richmond townhome listings”, etc. And, if a buyer is looking for townhome in Terra Nova or Steveston, the search phrases are likely to be “Terra Nova Townhouses”, “Townhomes in Terra Nova”, “Steveston townhouses”, Steveston townhomes” , etc.

If you are a Richmond Realtor with your website(s) on Page One of Google for such keywords and phrases, your visitors will spend time to view homes for sale info on your website(s). You will likely receive many emails from home buyers and sellers, inquiring about the homes they are interested to view or get more info about the homes.

Organic SEO and paid or sponsored ads

Over 75% of online visitors click on natural listings than pay-per-click or sponsored links. Organic search is natural search, and online visitors perceive these links are more relevant to them and provide them with more accurate search results.  Organic SEO is important to all online marketers as it is free!  The only cost to you is your time spent on improving your search results. Or, if you pay someone to do the work for you, it cost you money to have SEO done for you. The subsequent cost to maintain your serch ranking is relatively low.

Organic search is a long-term answer to your efforts to improve your page rank on Google search.

Google Page One Ranking

Page one Google ranking can be achieved for your website over time with content rich info found on your site. The content pages of your site should be linked to other pages, and well-structured with a common theme. You site should also have links from other relevant sites which help to increase your chances of being found by Google.

Unlike Google Adwords and other pay-per-click ads you can use to pull in online traffic to your site, Organic SEO is a slow process and takes time to show up on Page One on Google search. When it is done correctly, Organic SEO is cost effective and helps to drive traffic to your site. When use in combination with PPC ads, you get more online traffic, and more new leads to work on.

Blogging and niche marketing

You can check the visibility and Google Page One ranking of your website by doing a Google search. If you cannot find your website on Page One of Google search for the most commonly used search phrases, you will not likely get too many leads from online visitors. If your site is not on Page One of Google search, you have few online visitors.

Add content to your site… lots of content!

Your site needs to have lots of content… informative and useful content online visitors like. You want to attract buyers who are looking for info on homes for sale in your area.

Do you have info on your website that help to project your image and win the trust and confidence of online visitors?

Keywords and phrases for your niche markets

When you are marketing yourself as a Burnaby Realtor, you should be a niche marketer. You should use narrow phrases likeCapitall Hill Realtor,Vancouver Heights Realtor, Capital Hill townhouses, Vancouver Heights duplexes, etc . When you promote your niche, you gain knowledge about your niche market and respect from your online visitors.

Posting regular and interesting updates in your niche markets is essential to building you image as a North Burnaby Realtor.

Monthly market updates on properties that were sold in your niche markets, new listings info, and general market activities are info home buyers like to read. Any new developments, interesting news about the neighborhood you can share with your online visitors?

Off-line marketing, flyers and real estate papers print ads should be used in conjunction with your online marketing.

You must be wondering how long this will take? Or, after how many pages of blog postings before your site shows up on Page One of Google search?

If competition is moderate, there is a good possibility that you can achieve Google Page One ranking on some of your keywords and phrases after posting 30 or more blogs. Try this out and find out for yourself how long it will take you to get the result you want.

Tomorrow, we will discuss about Backlinks, Social Media Marketing and Google Page One strategy.

Useful Google tools for online marketing

Google is the undisputed Search Engine leader for internet marketing.

• Google has more real estate searches and more unique visitors.
• Google is the most-used search engine for real estate information and services

Some of the Google tools that you can use to promote your real estate business online are:

• Google AdWord
• Google Places
• Google Alerts
• YouTube
• Google profile

Google AdWords

Google AdWords is a “cost-per-click” paid service which is an effective lead generation tool for Realtors. You can determine your costs based on your own objectives. You pay only when a prospect clicks on your ad to visit your website.

You can measure your return on investment (ROI) with conversion tracking data, and you can modify or halt your campaign at any time. You can target your users by location, allowing you to reach home buyers and sellers specifically within your service areas.

There are resources online where you can learn how you can allocate your budget and the returns from your investment on Google AdWords.

Google Places

Google Places is a FREE service, and lets you personalize what the searcher sees. It’s like a Yellow Pages ad but better because you can include photos, information about how you market homes, or whatever you want to post relevant info to your customers. This is one of the most important Google tools that can boost your page ranking on Google Search.

Google Alerts

Google Alerts let you know what bloggers, the press, or the general public is saying about you, your brokerage or a subject. Enter a search term in Google Alerts. Whenever a news story, blog post, or video is added to the Internet, Google alerts you. Use it to find out what people are saying about you or what your competitors are doing, or to keep abreast of changes in the industry.

YouTube

You Tube is a powerful tool – the one you probably know best. There are Realtors who use YouTube to show off their properties, but it can be used in many creative ways to market information, about your neighborhoods, homeowner how-to videos, and many other possibilities.

Google Profile

A Google profile is a link leading to your personalized information page about you and your services. While not directly driving traffic to your website, any customers that remember your name will be able to find your business or website by doing a Google search using your personal name. A Google profile is just another way to help online searcher find you.

In summary, you can read more about the above Google Tools and other Google Tools that can improve your online exposure.

Branding for success

Branding takes time and it is a slow process. Branding is building your image online and Branding recognition by online visitors relies on consistency and repetition.  Branding is about building your image and creating a perception that you are the best in your market, regardless of the market conditions.

Your website needs to convey the message to online visitors that you are the real estate expert for your area. You need to win them over with your real estate knowledge and experience, and provide proof of your outstanding performance with third party testimonials about your excellent service.

When in contact with home owners, the more questions that you are able to answer directly and preemptively the more trust you will build.  Trust leads to contact, and contact leads to relationships.

Building Trust

When an online visitors land on your site, are you projecting yourself as a responsive, knowledgeable and capable Realtor that buyers and sellers can count on to:

1. Clearly answer their questions.
2. Provide expertise and guidance.
3. Offer savvy opinion.
4. And make the whole experience as low stress as possible.

Online visitors are looking for Realtors who can attend to their needs, able to help and guide them on their search. Your website should have relevant and useful contents which focus on your online visitors needs.

In our next article, we will discuss “long tail” or “organic Search Engine Optimization” and why this is important to you.

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Why you need an effective website?

Just having a website about you or your business is not good enough. There are literally millions of websites on the internet, and there are thousands of real estate websites in your area. Competing for online visitors is the goal of every serious real estate agent in your area.

A good and easy to use website is critical to your online success!

In spite of the fact that over 80% of the home buyers and sellers use the internet to look for info online, most real estate agents are at a loss as how to market their business online. The biggest problem faced by real estate agents is learning the use of the internet to effectively market their business online.

Having a company website, or just a personal website that is not updated and optimized is as not going to cut it to be notice online. If your website “cannot be found on PAGE ONE  of Google Search for real estate key-words or phrases in your area, you are out of luck! So, getting your website on PAGE ONE of Google Search is critical to your online marketing success.

What you need to be on Page One of Google Search?

There are two things you must have to rank on PAGE ONE on Google:

1. Having relevant and useful “website contents” on your website, and
2. Search Engine Optimization.

Your website needs to provide useful and relevant info home buyers and sellers are looking!

Home buyers or sellers are “searching the internet for information”. Home buyers are looking for “homes for sale” information, while home sellers are “trying to find out how much their homes are worth”.

If your website  is optimized and rank well on various Google Search terms for real estate in your area, online visitors can find you. And, if your website provides them the information they are looking, presented in an easy to use format, you have a good chance connecting with your online visitors.

Your Brand online

What is the message you are projecting online? What can home buyers and sellers learn about you? Do you portray yourself as a knowledgeble local agent who can be trusted to help them with their realty needs?

Your website must provide relevant homes for sale info, buying or selling tips, neighborhood info, market activities in the neighborhoods, sales trends, etc.

The website you need

You can choose to get a website hosted by the more prominent real estate website providers like MyRealPage, Ubertor and Pixilink.

Your website should have enhanced MLS search and leads capture functions through your local real estate board’s MLS Reciprocity Agreement.

For example, a home buyers looking for homes for sale info in Richmond, Burnaby or North Vancouver will find the MLS information they are looking.

If a buyer is looking for townhouses for sale in Burnaby with a $450,000 budget in mind, the buyer will likely click on the link showing the price range of “$400k-$500k”. And for a buyer who is looking for townhomes for sale in South Burnaby, he or she would check the homes listed for sale under “South Slope Listings”

Leads Capture

When home buyers fill out the “request for showing” or “request for more info” form, they are required to provide their names, phone numbers and emails. By contacting you, you learn what they are looking and you can start working with them to find the homes they want to buy.

In our next article, we will discuss ”how to promote your services online”.

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Why you need to market your service online?

With over 80% of home buyers and sellers using the internet to look for information, the internet is the first point of contact for many home buyers and sellers with their Realtors.

Do you have a website? And, is your website currently generating buyer and seller leads you can work on?

Internet marketing for Realtors

If you are not currently set up to take advantage of the power of the internet, you are missing some great sales opportunities. Online marketing is important for the following reason:

1. Over 80% of home buyers use the Internet for research and to search for listings and services.
2. Internet home buyers make better clients.
3. It saves time and is more cost effective than most traditional forms of marketing

In the folowing articles of this series on “Internet Marketing For Realtors”, we will discuss how you can use various online tools to promote your business on the internet.

Search Engine Optimization

Google Search is the single most important Search Engine you can use to promote your business online. Your real estate business will only serve you well if online visitors from your area can find you. You internet strategy should target home buyers and sellers in your area.

The articles in this series will discuss the steps required in launching your website(s), online tools you can use and how to build your website to attract online visitors. Organic Search Engine Optimization is the key to your internet marketing success.

Below are 2 videos explaining what SEO is about:

1. What is SEO and how does it work?  http://youtu.be/tqg3F-8jBec
2. How to Grow Your Business with SEO.  http://youtu.be/B4w8vDiUv_o

The references and examples used in the following articlles are for Realtors in Greater Vancouver, Fraser Valley and Chilliwack. The MLS serch, key-words and phrases are in reference to the local real estate markets in the lower mainland of Vancouver.

Internet Marketing is cost effective, relatively inexpensive and can help build your brand online in a relatively short time.

The cost to promote your business online is just a fraction of what you spend on print advertisements.

Imagine… having a system that works for you 24/7, 365 days a year! Will 3 to 5 new home buyer and seller leads a week change your life?

In Part 2 of this series, we will discuss “what you need on your website to attract online visitors”.

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Below is a very helpful article about using referrals to build your real estate business written Toby Welch that was published by REM Online.

Are you making the most of your past and present clients to get referral business? The dream of a phone ringing relentlessly with nonstop referrals can be a reality if you implement an effective referral strategy.

The 2010 Realtor Technology Survey Report by the National Association of Realtors in the U.S. shows that 88 per cent of Realtors consider referrals to be a “very important” aspect of generating leads.

Many Realtors agree that staying in touch with clients once the transaction is over is key to getting referrals. By keeping your name uppermost in people’s minds and doing so in a positive way, clients are more apt to recommend you when someone asks if they know a Realtor who will do a kick-butt job. Read the full article.

Leads from referrals have a higher conversion probability than leads received from ad calls, sign calls, or any other cold sources.  So, investing time to build a relationship can lead to future sales and referrals from your new prospects. In addition to a personal call, emails and sending newsletters, consider stopping by to personally meet your new leads in their home. Once they get to know you, they’ll find it more difficult to choose someone else to represent their interests.

Systematic follow up

A consistent follow up plan is essential to enhance the sense of personal connection through an a series of phone calls and emails follow up. It takes, on average, four to six calls for you to leave a lasting impression. Between calls and personal visits, communication through personal notes and e-mail messages are great ways to stay in touch with your prospects.

Real estate market updates, customer testimonials and letters from satisfied clients are great ways to keep in touch with your past clients and referrals. Share interesting information on your company’s activities that are deemed worthy of circulating to your list of pat clients and referrals. Treat referral leads as if they’re  already your clients by adding them to your newsletter list, and to insider mailings that share real estate news and reports from your office.

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What’s your 2012 Resolutions?

2012 is just round the corner and we all want to hit the ground running. There are signs that 2012 for the real estate business in Greater Vancouver and Fraser Valley will be more challenging. With slower growth and economic uncertainties around us in BC/Canada, south of the boarder, across the pacific and Atlantic oceans.

Activity has gone down since May, 2011 and we are hoping that 2012 will come through without too much disruption to the local market, especially from China. In recent months, the property markets all across China were under tremendous stress. In many places prices had dropped 30% or more.

We should take stock of what’s happening around us and chart our New Year’s resolutions for 2012:

1. Discard what’s not working and move on

Take stock of the things that are not working and decide what works for you. Success in this business has a lot to do with how we spend our time doing the right things. If you are into social media, how your networks helping your business?

Having more face time with customers and old-school newspaper advertising are vital to our business. Print advertisements are relevant and read by home buyers and sellers. We have to be seen online and offline to be successful in our business. We cannot hope to be successful if we are “secret agents” that nobody knows us!

2. Move to a new company

Business models change with time and new ones are developed. Current 100% model works great the past 25 years and it will work well in the next 25 years. With the internet and technology, a further refinement in the business model has evolved. A “no-fee model” offered by Team 3000 Realty helps to eliminate your monthly fees all together!

3. Marketing online

More home buyers and sellers are searching for info online. Learn what online marketing is all about and subscribe to real estate blog sites like “real estate tomato”, “blood hound” “active rain”, etc. Blogging is important and should be the primary tool you should us to market yourself online.

4. Invest in new equipment

If you you have not been using a digital camera, it is time to buy one and use it to take pictures for your blog postings. Do you need a new printer or computer? Beside your smart phone, will an ipad help you on the road meeting with your prospects? Invest in the equipment you need.

5. Set realistic goals

Are your goals realistic? Draw up a business plan and work out the budgets for advertising and marketing to achieve your goals. What did you achieve in term of sales and commission earned for 2011? What are the goals you are on target, and what are those that you did not do well?

These are the 5 resolutions you can work with and if you follow through with each it will be an accomplishment.

The Internet Has A Profound Impact On The Real Estate Business

With the internet, buyers and sellers have more access to information and property listings than they ever have before.  The exposure an agent gets from the internet accelerates and shifts the public recognition of the Agent from his or her Brokerage to the the Agent. The internet helps to build the Personal Branding of an Agent.

The costs real estate agents paid to be in business

The real estate industry in Greater Vancouver and Fraser Valley have around 13,000 agents. These agents are paying around $400 to $1,000 monthly admin, desk and franchise fees to their brokerages. With an average number say around $500 a month, these brokerages are collecting around $6.5 million in fees from their agents. The annual fees paid by real estate agents to their brokerages come to around $78.0 million. Find out how one company helps to put this money back into the agents pockets.

They are effectively paying RENT to their brokerages to be in business.

Real Estate For Realtors

Revolutionary new system

A totally new approach to the real estate business is now in place. A no-fee system is available through Team 3000 Realty, a Richmond based real estate brokerage.

This new business system developed by Team 3000 Realty could change the industry the way how 100% commission brokerages changed the real estate business 30 years ago!

The business system from Team 3000 Realty includes the following initiatives:

• The company’s MLS® Search Portal generate leads from home buyers and sellers.
• The company offers to process real estate transactions for real estate agents across British Columbia.
• No admin, desk or Franchise fees payable by for “life-time” members.
• Opportunity to own your real estate business as a “Strategic Partner”.

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The real estate industry before 1978

The real estate brokerages were mostly national and international franchises that offer to train new agents and share 50% of the commission earned by a new agent. Agents who were in the business longer and achieving certain sales volume were paid a higher split. The top producers in the brokerage could keep up to 90% of their real estate commission.

The second wave

The 100% commission brokerages like RE/MAX (since 1978) and Sutton (since 1981) offered a much more attractive deal to the agents compared to the national franchises. The agents who left these traditional franchises were allowed to keep 100% of their commission, but they had to pay a monthly fee from $400 to $800 to be associated with Sutton and RE/MAX.

Within about 10 years, the transformation from split commission arrangement was almost complete. Today, all   national real estate franchises follow the system of the 100% brokerages. They charge a monthly fee to cover expenses for admin, desk, franchise, etc. For new agents who join them, they have to sign a contract whereby they are trained by the brokerages and they also pay 25% of their commission to the brokerages.

The third wave?

Read the next segment… the impact of internet on the real estate business and the third wave that will change how the business is done.

Note: We welcome any feedback on any info here that are deemed in-accurate and need revision. The author is a Strategic Partner of Team 300o Realty

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