When inventory is low and houses are selling fast it's only natural to save some time and money on marketing your listings. However, this is also a time when competition to get the limited sellers to sign with you becomes more fierce. Instead of relaxing your marketing efforts completely, here are five marketing ploys you still need when houses are selling fast.
1. Encourage Referrals: A big part of your business comes from referrals. In fact, recent stats show 89% of a real estate agent's clients are generated by referrals, yet only 41% spend any time or money on drumming them up. This is the perfect time to reach out to past, happy clients and ask them to remember you when friends or family are selling. You can invest in gift cards, drop off a note with some of your business cards, send an email to see how they've settled into their new home, or simply give them a call.
2. Ramp Up Social Media: You don't necessarily have to invest in ads on social media. It is more important to keep your posts regular and make sure they are engaging. Listing posts and just solds are common, but finding new and better ways to engage your followers is key. With the extra time you have on your hands keep an eye on your community and post events, new store and restaurant openings and general interest articles to share with people. This shows your involvement in the area which ads to your status as a local expert. You can also share little stories about yourself on social media from a new pet to coaching soccer. This makes you more approachable and likable and is even better if the events are taking place in the community you work.
3. Share a Newsletter: Take some of that money you are saving on marketing your listings and invest in a friendly, folksy newsletter. It takes a lot of work to research and find info to write your own, so instead just look for an affordable service that provides lots of info home owners will enjoy from entertaining to DIY projects and send them out weekly, bi-weekly or even monthly as a little reminder you are there.
4. Become an Expert on Follow Up: Part of getting more referrals comes from being an expert at following up with clients. Just because they've moved and the deal is complete doesn't mean you should cut off all communication with them. Make sure you follow up with every client and check to see they are settling in happily. There can be growing pains and little surprises with any move and being there to assist shows you care and want them to be happy. They might have simple questions, encountered little hiccups like a missing garage door opener or even be uncertain how to work the security system. If you can assist with these issues you are even further ensconced in their good books and referrals are that much more likely.
5. Reach Out to Other Cities: A lot of agents forget they can assist agents in other cities with their relocation clients. Having a knowledgeable agent they can depend on makes it easier for them to find ideal homes in less familiar areas. Having you to help them ups their game in the eyes of their clients and helps you gain some new business in the process. Send out eflyers to cities you'd like to work with either in your state or out of state to meet new agents and get your message out.
Investing time and a small amount of money in these marketing ploys will help you grow your business. Realtour offers affordable newsletters that are also available free with your eflyers, single property websites and photo shoots. You can also use our eflyer text only templates to create an eblast to reach out to agents across America for relocation business. Our email lists make it easy and affordable. Create your free account today and get marketing.