Can't sell your home? With the number of sellers on the market, compared to the number of buyer-its no wonder. I have been successful this year using the following strategy learned in my marketing 101 class.
Instead of relying solely on email and the internet and other social networking arenas, maybe its time to pick up the phone and actually network with your colleagues. Yes that's right, I'm referring to good ole fashion human interaction! It worked for me on my last 3 closings!- maybe it can work for you!
Sale 1- I was talking to a colleague in another office about coordinating a neighborhood broker open. We were discussing potential buyers and showings we recently had and she told me of a realtor who made an offer on her clients home, but it was too low for her seller to accept. She told me to call the other realtor because she thought my home would be perfect for the other client and in a price range more in line with the client's price range.
I picked up the phone, called the other realtor, subsequently invited her to my broker's open and 2 weeks later her buyer bought the home. Home sold by networking with other realtors and picking up the phone.
Sale 2- After an office meeting, I was networking in my office and asking if anyone had a buyer for a home that was not on the market yet. Two people sid they were working with relocation clients and would love for their clients to see it. Although it was not yet formally on the market, one of the clients fell in love with it and the rest is history. Again this home was sold by networking with other realtors.
Sale 3- Realtor was looking at homes with a client and drove by one of my listings. She called me for the price of the home. I was on the phone at the time, but called her back within 2 minutes to give her the information she needed. Although the home she was looking at was out of her price range, I shared with her another listing that I had that was in her price range. She immediately went to see it and 3 weeks later her clients made an offer.
When interviewing a potential realtor in selling your home, I recommend that you should ask these additional relevant questions?
How long does it take for the realtor to answer his phone or email? What is his responsiveness time? If the realtor isn't available, is there someone else that is going to answer his calls? Does he pick up the phone on the weekends?
Is your realtor aggressive in marketing your property to his colleagues?
Now don't get me wrong, I'm not saying that the internet is replaceable, but I do want to point out that even in the age of technology, human interaction and responsiveness is something that can't be replaced or replicated.
This is strategy 3 in my series or tips for selling/ buying your home. If you would like to read more posts in my strategy a week series, I have include them below for your convenience.
Strategy 2- Why you should hire a local realtor when buying a home?
Strategy 1- Why you should take pictures of your home in all seasons
If you want more information regarding specific real estate sales in the Buffalo Grove, Long Grove, and Lincolnshire area, please do not hesitate to call me at 847-602-5435 or email me at info@buffalogrovehomes.com I am available 24/7 to make appointments!
This certainly helps when a home isn't on the MLS yet...and I suppose that not all other agents are good at searching the MLS for appropriate homes for their buyers, so this extra effort is a good thing. Nice going.
Thanks for the post. I agree that we should not forget about networking with other agents in promoting our listings. It is easy to forget these days.
Good post! I agree this is a must in my market area as I am located in a small town with one of the brokers not being an mls participant. In the age of Internet marketing I think we sometimes find ourselves forgetting to put the human touch on things. Best wishes.
It makes you how homes ever sold before computers, cell phones and faxes.
Great post.
This is where having a good relationship with your fellow realtors comes in handy. Great post.
Here in Fl people are rude and even insult you so it's just harder! Trust me I've tried.
Kenia
Judy. No SEO involved, not rocket science, pick up the phone and call brokers you have successfully worked with in the past. Have a conversation about both of your hot properties and hot buyers and don't be surprised if there is a simple fit for one or another.. client or offering.
I like this postr and if more people followed your advise instead of listing with the nephew , aunt , bowling buddy I would do a lot better , Thanks for the post
Relationships and marketing. This is what real estate really is. You are right, it is 101.
Great advice! You have been great at it! Asking the question further, 3 fold helps you dig deeper into what they are looking for. NOt being afraid to ask at all is spectacular! KM
Kenia....
Not sure what part of Florida you are in... I am out and about cold-calling and networking at various events all day long, 5 work days a week and have yet to run into people who are being outright RUDE. Maybe you and I could do some marketing together, if you are in the Orlando area, I would be happy to introduce you to some nice people! Let me know. Seriously...
Judy great post it reminds us that in these times that we must go back to the basics of networking. Congratulations on those 3 great sales!
Great blog! Thank you for sharing Judy!-Dinah
Suzanne, yes sometimes I use this as a good thing and tell people about it before it is listed. People think they are getting to look at something before anyone else a virgin listing. For the ones that are listed already, sometimes clients don't tell their realtor that they want to see it for none other than a typo or another mistake. The extra added human touch always helps me!
Michael- it makes me think of another idea... After a successful closing, maybe you should write a short note to the other realtor telling them how much you appreciated working with this individual
Hope- this is especially important in your market. Thanks for visiting
Ron- internet is important, but should not be used exclusively
Judy, its great to read a post where someone is advocating good old networking habits! It is something we all (including me) should be doing more, bravo on a great post!
Hi Judy,
Sounds like you have been busy and successful recently. Networking is effective and should not be neglected, our marketing must be made up of several different approaches.
I would like to believe that our colleagues are intelligent enough to search the MLS listings often for properties that might meet the needs of their clients! :)
Best wishes to you Judy. Hard work will always achieve superior results.
Hi Judy, Thanks for this post. The networking thing can be invaluable as a tool. Good job.
Kelly, sometimes the realtors just let their clients search and tell us which houses they want to see. So maybe a home is missed by accident! I try to network so my home won't be missed.
Victor- Yes I think so too. Lots of my greatest friends are realtors and I love to network with them.
Kenia- its too bad people are rude... Once you set up a network of nice ones, it will be great. Melissa- thanks for responding... maybe you could help Kenia meet some of the polite ones... That's what networking is all about!
Steve- That's 100 percent correct... I couldn't have said it better myself!
Charlie- If the family member doesn't do a good job and network the right way, the seller may change to you... Sometimes its better to be the 2nd realtor.
Cynthia, I network all day long.. sometimes it works and sometimes it doesn't. I have to tell you a lot of my networking is at my kids baseball games and the local grocery store. You wouldn't believe how long it takes me to shop!
Richard and Bill- thanks for visiting.. yes hard work does pay off... sometimes!
Everything works in this market .. thank you!
People now need someone to hold their hand. That is the old school marketing. We have pushed it forward with our slogan "Old Fashioned Service With Today's Technology". You would be surprised how many people rally around the face to face marketing at this time in the market.
Great Old ideas renewed... I think that is why my broker opens are so good for me. Besides the fact I feed em well.
It is time like these when we look back as really see what works and what does not. 76% of our business...both buyers and seller comes from people we know. With $51 million in sales, that is a serious stat to ignore. We tend to forget the hand that feeds us. Sadly, that rate is close to 100% right now as we go through this crap. Thanks.............
Thanks for sharing!
It's imperative that agents are working together for buyers and sellers. We only have each other during these tough times. Networking is the key and practicing good business!
Best wishes for a sucessful 2008!
Joyce Logan, Real Living HER Realtors, Columbus, Ohio
Judy: Excellent advice! I routinely do that with follow-up calls, etc. but, the other benefit to doing that is that when you do have a cross-sale with one of these agents whom you've spoken with in the past, the relationship is a whole lot better! Congrats on that little gold star!
Hey Judy,
You said it - Marketing 101:
for listings, find the buyer for the property,
for buyer agency, find the property for the buyer,
if 'the tools' aren't moving us to those goals, then they are just distractions,
Take care, happy selling! Laurie
Judy- Well said. Sometimes it's just the good old face to face tht works best. I also find that networking with my peers leads to better transactions due to the "comfort" of knowing someone. It's always good to hear, oh I like working with ______ they are so professional. Kind of like a little gold star! Congratulations.
Thank you Judy,
This is a great post. I think that so many people get carried away with the internet and other methods that don't include contact that they forget that we are in the business of sales.
Networking with other agents, buyers and seller is a dying art. Also, it's something that FSBOs don't realize is a requirement for the best results. Thank you for the reminder to all of us.
Best regards,
Mike
I agree. I have told other agents in my office or other agents I know about a listing and have got showings on a home. I have not resulted a sale but its another way to market a property.
Ah how easily we forget the basics. It's critical in today's real estate world to find a productive balance of the basics and new technology. Great post.
Judy,
Very Nice article, I guess you are right good old fashion communication. Back to the basics of good colleague networking, I will keep that in mind as I just got another listing.
Keep blogging good old fashion info!
Thanks
Fantastic...there is no Magic Bullitt!
How true, I remember when email was the way to communicate. It's been almost 15 years now and email has evolved to something opposite from what it was designed for. Traditional ways of real estate prospecting are becoming more effective.
Judy, good reminder. You can always catalyze good possibilities when brainstorming with other agents. It doesn't hurt to call all your customers either.
Zane- great and catchy slogan.. I love it.
Charles- I feed them well too. If you feed them, they will come ...
Tim... Crap is too mild of a word
Joyce- you said it... we need to network even more during these hard times
HI JUDY!
I like your slogan, very strong! I imagine you may be right about talking to one another on the phone. Sometimes you just have to have contact with the human form!! Thanks for sharing your views!
Great post! My office is now hosting two networking meetings a week and let me tell you I can already notice a growth in my business.
Rachel- what a great idea- I'm going to bring it up to my boss.
It is always a good thing to network. You never know who might know someone else. All the best.
Talking to human beings to market a home . . . what a unique and innovative idea. LOL. Definitely something many need to remember in today's technological age.
Your post was a real awakening for me. I realized how much I'm relying on email flyers and emails rather than talking with the good agents in my community. thanks for a good reminder.
You bet...human contact...ahhhh yes...it works...we always do broker opens...feed them and they will come and they will see, touch and feel the house they will WANT to sell...homade french onion soup helps too !
You are so right! I am a mole when it comes to clients now. I love networking I love tech but Im finding I spend way to much time on the computer and less and less time talking with clients one on one. I agree its time to go back to the phone,lunches dinners, entertainment or belly to belly as some oldtimers in the office say. I agree. Im making it a point to make those calls 2-3 times a week. Adn making them when I know people will be home.
Thanks and its a great reminder !
Alison Creamer
www.Bzibee.com
RE/MAX Alligiance
Judy - Great advise! I network everywhere I go - from local supermarket to HS Soccer games, football games, baseball games, cheer leading advents, PTA meeting & community functions! So I am always wearing my "game face". Personnel interaction gets you places - For the negative individuals perhaps we can shed some light there way!
Mandy
I completely agree with you! What ever happened to prospecting? The human touch is definitely the IT factor. I always insist on this on my marketing consultations and I am glad someone is on the same page.
Thank you!
Elayna
Designed 2 Impress, Inc.
Some real estate professionals are just scared to call another real estate professional. Maybe they see it as cold calling which a lot of people hate doing. But this is a well written feature post. Thanks for sharing it with us. Have a great weekend. Great post.
Judy~I agree completely! I was just in a meeting on Wednesday with another RE/MAX agent that "farms" a particular neighborhood and I have a Buyer who wants to be in that community. We chatted about a new listing she is going to get this weekend that she thinks will fit my Buyer's needs and price range...We're going to see it before it goes on the market this weekend! I hope to have a success story next week to share as a result! Thanks for the post and congrats on the feature.
This is great information! It's definitely something I'll keep around for reference in the future!
DM
Thanks for the idea. Another agent in my office had stated that he met with a group that did the same thing but I am going to say something to my broker and see if we can do it in our office.
Networking is definetly the ticket. I have even sold a home that the seller thought was in such a bad condition, she was just going to walk away! My next door cubicle agent Rose was trying to get it as a listing. Meanwhile, I had a cash buyer looking for a project. I told Rose to talk to the lady and ask her if we could only show it ONE time, she reluctantly agreed. My buyer LOVED it and made an acceptable offer! Win-win-win!
Judy- A star well earned! I'm surprised how often this works. We've become accustomed to taking all the traditional steps with our listings and yet tend to forget the power of word of mouth. My last listing went similar to the fashion you mentioned. I received a call from someone who hadn't seen the home on the net- or through the MLS. It was a friend of an agent I called.
Great post, those dreaded office meetings have become once again a collection of brilliant minds discussing local market and listings. With all the tech out there still a fellow realtors experience has not been matched in the real world, yet.
Good info, back to basics. Sometimes we forget to pick up the phone and talk.
Great job in reminding us to go back to the basics. It's true that every home must be sold twice! First to the showing agent, then to the consumer
Thanks for the reminder Judy. I think I've always done a pretty good job of staying in touch as personally as I can but I know I can do better. I believe that no matter how well I report by internet, that it's still very important to have that face to face or at least voice to voice contact.
Networking is the only way! One of our title companies have a monthly networking (called Nothing But Net") at our local Chamber of Commerce. We have agents from many different companies, where we share our listings and other information relevant to real estate. Many homes have been sold this way. Sometimes the perfect house gets passed over in MLS because there are so many. This really helps when you can pass out home flyers to other agents.
Judy, Great blog. If we'd actually practice the golden rule, which all REALTORS subscribe to, wouldn't life be much better. Sometimes we forget to treat our fellow REALTORS the way we'd like to be treated. I challenge all of us to work harder to do that. Thanks for the nudge.
Thank you for reminding us that a lower tech approach can be quite effective. ~ Evelyn
Great post, Judy. You're right on. Nothing beats the phone call for the personal touch, other than face to face of course.
Judy, I think networking and sphere are far higher ways to find clients than ANYTHING on the Internet. Great article!!
Judy,
This is an excellent way to promote a home. I have not tried this, YET. I have held borker's open houses but I believe this can work also. I very much enjoyed reading your blog. Thanks for the ideas!!
Great post Judy- There are no substitutes for being nose-to-nose toes-to-toes with people. It's the higest and best use of our time and the most effective. We all got too passive with technology and the current market taught us to get back to the basics. Thank for sharing and Greetings from Paradise.
Pippa- thanks for visiting... I will try almost anything in this market and this works for me...
Greg- Thanks for visiting.. We are so lucky that the weather in Chicago is paradise this week.
Pamela-Broker Opens is where I sometimes meet new realtors...
Gary- yes I do very well with my sphere also.
Gabe-thanks for visiting.
How long does it take for the realtor to answer his phone or email? What is his responsiveness time? If the realtor isn't available, is there someone else that is going to answer his calls? Does he pick up the phone on the weekends?
Hi Judy,
Those are good questions for consumers to ask. Thanks for your thought-provoking post. Your Sale 2 example make me wonder about the agents who decide to work from home. Do they miss out on some good networking opportunities?
Respectfully,
Bruce
I do see a lot of local agents emailing each other about their homes... So many can start coming through my email that I get to quickly deleting them. Picking up the phone and using a personal touch--- gosh, did YOU think of that, Judy?!! Brilliant!! thanks for this excellent, useful post.
In this world of tecnology a personal phone call meas a lot. There are a lot of realtors that don't answer their phone much. One of my buyers wanted to see a home on a weekend and I never did contact the realtor. The seller would not have been happy at all! I do call all my clients once a week to keep up along with e-mailing. You just can't replace that. Interacting with other realtors is very inmportant. Sometimes they just don't notice your lising on the MLS>
Wow! You actually want us to talk to other agents? Our competition? Now there's a novel idea! LOL Seriously, I never really thought of it that way. Altho I've had agents call me weeks after I showed one of their listings to advise me of a price reduction. That's pretty impressive follow up that I have not accomplished! A great tip to keep in mind.
Judy~This was a well deserved feature. You are so right! The phone is golden and to hear the voice on the other end gives you great confirmation when following up. Thank you for your example and for keeping us all in check on something that should be so simple.
Julie- thanks so much for checking in with me.. Its so nice to see you back... Now that email is sometimes overused and abuseed, sometimes a phone call is just the thing to learn more about information about what the other realtor is looking for.
Thom and Ray- other agents are my clients, not my competition... I look at it very differently.
Mara- Thanks for visiting... I love technology, but sometimes a phone call is what is what's needed the most. I have an assistant, but I don't let her make follow- up calls since this is when I can shmooz with other realtors
Bruce- yes, I think we will lose a lot of this networking if we all work from home, but if you come in for meetings and network there, sometimes that is good enough.
Judy networking is certainly important. I think most people feel more comfortable doing a deal with someone they know well and has a good personality.
Judith - Great info from an excellent agent. Networking and face-to-face interaction will always be key in real estate, regardless of what technologies and tools come in and out of vogue.
Nothing beats bumping bellies with the public for drumming up sales. I think it often is the significant piece of the puzzle that gets neglected in thes 2.0 world. Especially given the sea of listings out there, people need a reason to find yours. Why not be that reason? The tech stuff is a pre-requisite anymore, but there is one reason why a good agent will always be necessary. We are dialed into the community. This doesn't only mean market knowledge, but we know which branches to shake to get the buyers to fall out of the tree. The guy in the office who still uses a typewriter and types with his index finger is still selling houses because he has never forgotten that this is a people business. You can't hide behind a monitor all day long and expect to thrive. Terrific post, Judy.
So when you coming out this year?
This business will always be about human interaction, there are just some things that the Internet cannot replace. Thanks for sharing your success stories with us. I find Broker Opens are also a great way to expose my listings.