Lunch & Learn. Mobile Marketing

We will be hosting a lunch and learn with the Greater Providence Board of REALTORS as a part of their technology series. This class will be on mobile marketing. Did you know that more time is spend online on mobile devices than on laptop or desktop computers? If you are not currently using mobile as a part of your marketing strategy then you are losing out on business.

Topics will include, mobile websites, text response codes and qr codes.

Where: GPBOR office, 365 Eddy St Providence, RI.

When: Thursday May 24th @ noon. Light lunch will be served.

Please call the board office to reserve your space. 401-274-8383

RI REALTOR Safety Alert

I spoke with a client in Rhode Island this week who alerted me to a situation where a guy was posing as a potential buyer as a means to meet up with female REALTORS. Red flags were immediately raised and she felt uncomfortable. This was followed up by a couple of strange voice mails. She came to find out that he had been contacting another young female agent as well. We hear stories everyday of crazy and disturbed people. Female REALTORS can be seen as easy targets. Lets make sure we are aware of safety concerns for our colleagues and take steps to prevent potentially dangerous situations.

• never meet a client for the first time at a vacant property
• avoid visiting vacant properties like foreclosures alone, there may be potential squatters
• meet with unknown potential buyers in public places
• if you feel uncomfortable with a situation please report it to the police

Visit NAR’s safety field guide for more tips and strategies to keep your office safe. Click here for their field guide.

Most Common Mistakes REALTORS Make on Facebook.

I can’t think of many REALTORS these days that don’t have at least a personal facebook page. Although social media can be a great way for you to stay in front of your friends, family, previous clients and maybe even reach some new ones, you must avoid some of the most common mistakes REALTORS make to be successful.

Here are some of the most common mistakes…

1. It’s not all about you. Many REALTORS want to post their new listing on their wall and wait for comments and offers to come in. Keep two things in mind here, if you are not interacting ie commenting and liking other peoples posts then you are less likely to receive that interaction as well. On average people move every 7-10 years. Most of your friends and family could care less about your new listings because they are not looking. People do not go to facebook to look for houses. Look to build relationships not sell houses.

2. Linking. I see so many updates about a new listing and there is either no link to more information about the listing or it links to another site like a postlets, trulia, realestatebook.com etc. If you are going to post new listings to your facbook page, link them back to your website or your companys website.

3. Maintain a professional image. If you want to be trusted with major life decisions then do not act a fool on facebook. Don’t post photos of how intoxicated you are, don’t check in from the beach everyday in the summer etc. Facebook should be more personal than business but you need to maintain the image of a professional.

Think of linkedin like a chamber of commerce after hours event. Semi formal, business minded folk looking to meet new contacts, clients etc. Now think of Facebook as a family or friends backyard barbecue. A good chance to mingle and build relationships, not jam your business down their throat.

Beat The Winter Blues.

Does your business suffer from the Winter time blues? Many industries in New England suffer from lackluster sales, some flat out close their doors for the Winter. But, what about real estate sales? Does it make sense to take a break during the Winter and regroup in the Spring? NO!

Winter Sales.

If you look at the historical data for single family homes sold in Rhode Island you will find that the 2nd and 3rd quarters are almost always the busiest in terms of total units sold. But, what about 4th and 1st quarters which the winter months fall into? Well, lets look at 2009 for example.

• 2nd quarter 09′ 2,004 units sold.
• 3rd quarter 09′ 2,333 units sold.
• 4th quarter 09′ 2,208 units sold.
• 1st quarter 10′ 1,365 units sold.

So more units sold in 4th than 2nd quarter and only a slight dip from the third quarter. With a little more of a drop off in the 1st quarter of the year. But, as you can see people do buy homes in the Winter.

Why you should work year round:

Most REALTORS are struggling now as it is, can you afford to take a few months off? Also, what about your listings, do you tell your sellers they should not list their home with you during the Winter because you are not going to be marketing their property? Do you withdraw contracts during the Winter?

Know the buying cycle:

The average home buyer spends more than four months looking for a home. Do the math. Those sales in the Spring are a result of people who start their home search in the Winter. They are looking for homes in the Winter, and more importantly many of them have not found a REALTOR yet…

Your Chance to Stand Out:

The best time to advertise and market yourself and your properties is when others cut back. This gives you and your listings a greater chance to make an impression and stand out and gain market share.

The Winter Itch:

The Holidays and winter season is often what motivates people to move. Young families have gatherings at the Holidays and decide it’s time for more space. Older folks throw out their back shoveling snow and decide its time to downsize and buy a condo in Florida. This is a great time to market your self to potential sellers.

Winter Staging:

Showing a property in the Winter can have its drawbacks. You can’t experience the outdoor living spaces like decks & patios, you don’t have the fresh smell of flowers in bloom etc. So, take some steps to make your sellers properties more appealing to potential buyers. Make sure walkways are clear and accessible, the lot and home is well lit, cut back on the Winter clutter and have an album of photos of the yard and property in the sprint and summer months.

Beat The Winter Blues:

So don’t catch a case of the Winter blues this year. Remember results in this business are not overnight, but the successful ones market themselves and their properties year round.

For some ideas on how to market yourself this winter please feel free to contact us for more information.

Tips for Planning Your 2012 Budgets.

Planning Your 2012 Marketing Budgets

Well, it’s almost here…the end of the year! Once you get all of your holiday shopping done and your year end paperwork over to your accountant, it’s time to start thinking about your 2012 budgets. Here are a few tips to establishing a marketing budget and key things to consider when planning your marketing strategy for the upcoming year.

Budget: How do you come up with a budget? Well, on average successful businesses spend between 5%-10% of their projected gross revenue on marketing and advertising. Where you fall in here depends on your type of business, how long you have been in business etc. So, take a look at your numbers for the last few years and try to project what your revenue will be for the upcoming year and divide that by 5%-10% and that should give you a good starting point for your budget, you can choose to divide that up monthly or quarterly if you wish.

Target Audience: Once you have crunched the numbers for your budget it’s time to consider what your biggest target audience will be for the upcoming year. For instance are you targeting business owners, first time home buyers, seniors etc. Once you identify your ideal client and target market this should help you identify which sources of marketing and advertising will be best for you.

Cost per 1,000 impressions: How do you determine if a media purchase is a good deal or not? First, you identify your target market and look for mediums that reach that audience. Then you take the total audience and divide that by 1,000. Now take that number and divide it by your total advertising cost to determine your total cost per 1,000 impressions or cpm. Click here to view an article on cpm and industry averages.

Other Considerations: Some other things to consider are your cost per lead or cost per action such as a filled out form, phone call, website visit etc. You may also want to learn how to calculate your customer acquisition cost and lifetime value of a client to help you evaluate your ROI.

What’s trending for 2012?

Search Engine Marketing: With lean economic times it’s important to get the most out of your marketing budget. I always say theres no better way to reach your audience then to be where they reach for you. Positioning yourself on the first page of search engine results pages for key terms prospects use to search for your type of business will prove to be a great investment for you and your business.

Time to go mobile: With the amount of time spend searching online on mobile devices overtaking the amount of time searching online form laptop and desktop computers it’s time for you and your organization to go mobile. Learn more about mobile marketing.

ROI Tip: If you are a business that relies on referrals for a large portion of your business then do not ignore the power of marketing to current and previous clients. Help to facilitate the growth of your word of mouth marketing team.

Have a prosperous 2012!

Sincerely,

Spectrum Marketing Group

2011 REALTOR of the Year, Kent Washington Association of REALTORS

JENNIFER R. BOVE

2011 REALTOR® OF THE YEAR KENT WASHINGTON ASSOCIATION OF REALTORS

Jennifer R. Bove, Team Manager for The Martone Group RE/MAX Properties, was selected the 2011 Realtor® of the Year for the Kent Washington Association of Realtors®.  This award is given each year to a member for their Association involvement, Realtor® spirit, business achievements, and civic community activity.  Jennifer excels in each of these categories.

Jennifer pours all her energy and dedication into everything she does, whether it’s volunteering for the Association, training her fellow agents, or doing fund raisers for various charities.  She has been recognized with many awards over her ten-year career as a real estate agent, including her most recent recognition as a 2011 Five Star Professional Award for real estate agents in Rhode Island given by Rhode Island Monthly Magazine.  This award is given for exceptional service and overall satisfaction as indicated by clients, peers and industry experts.

Jennifer was honored October 12^th at the Kent Washington Association of Realtors® Annual Meeting, Installation, & Recognition Dinner.  She will also be one of five Realtors® of the Year who will be recognized on October 20^th at the Rhode Island Association of Realtors® Installation & Recognition Dinner, where one of the five will be announced as the 2011 State Realtor® of the Year.

The Martone Group is proud to have this outstanding agent as part of our team, and we wish her the best of luck on October 20^th.

Are You Optimized for Mobile Search?

Consider The Facts:

Consumers spend on average 81 minutes per day searching the internet on their phone versus 71 on their computer.

48% of all US consumers use mobile devices to search online to research products and services.

Here is what you get when you advertise in The Real Estate Book…

• You and your listings in over 20,000 magazines in your local market!

• You and your listings automatically updated on over 30 websites!

• A mobile enabled website for each one of your listings!

• A call tracking phone number!

• A text response code for each one of your listings!

• A QR Code for each one of your listings!

Your Marketing Investment…

Featured Listings start at $50 per issue. (no mobile marketing)

Small Space Option: $110 per issue (everything included)

Half Page Package: $250 per issue. (everything included)

Full Page Package: $410 per issue. (everything included)

Sign up now for five issues and get your sixth issue free!

Don’t Miss the September Sales Issue

Ads are due September 12th for the…

September Sales Issue!

Please submit your ads via ams or email to ads@marketmorehomes.com

In print,  online, mobile search, direct mail, social media apps and more. We are more than just a magazine, we are a multimedia marketing platform for real estate professionals. We are more of what you are looking for.

EXIT Reatly RI Annual Cornhole Classic

Come join EXIT Realty RI for a fun filled day at Slater Memorial Park to help raise money for Habitat for Humanity.

Where: Slater Memorial Park, 401 Newport Ave Pawtucket

When: Sat. Sept 27th

Teams of two, $40 per team. Can be male female or co-ed, we are all equals in cornhole. You must register by Sept 9th. Click here for registration form.

View the rules at www.playcornhole.org

There is zoo, play areas, food, drinks, raffles, games and prizes.

First place team wins $600

Second place team wins $300

Third place team wins $100

Can Technology Replace The Real Estate Agent?

Recently I saw a local REALTOR proclaim on facebook that because of electronic signatures the only time he will have to see the buyer and seller is at the closing table. Well, this got me to thinking… What is the value of an agent in a real estate transaction in the information age? Can technology replace the real estate agent?

Once upon a time…

All across this region potential homebuyers needed a real estate agent because they were the gatekeepers of precious information. Like what homes are for sale? How much? How old? Taxes?  Beds? Etc… This information was printed monthly in big catalogs and distributed to the brokerages. The agents were instructed not to hand them out to clients, of course they always did. But, this access to the MLS database was a crucial role in the value of an agent or brokerage.

Then…

The information went online. At first just to the REALTORS – then to the consumers. Now homebuyers can access all the information they need before engaging a real estate agent on thousands of different websites. In fact most consumers spend about 2-4 months looking for homes in local print and dozens of real estate websites before engaging an agent. Are we going to approach an age where they never have to engage the agent and go straight to the homeowner and then straight to the closing table???

It’s possible that technology may make this a more popular option in the future. However, according to NAR…

FSBO sales nationally have been on the decline since 1997.

• 1997 – 18% of sales
• 2008 – 13% of sales
• 2009 – 11% of sales
• 2010 – 9% of sales

Although the lack of overall sales has squeezed many agents out of the business it does not appear that technology is assisting in the decline of full time agents.

Beware of FSBO’s on popular websites, entry only MLS submission and direct entry (flat fee) MLS entry.

The value of an agent in the digital age

Access to information may not be your biggest asset anymore… So what is? Your value must be in your expertise and your service. We live in a highly diversified economy and peoples lives are hectic. They do not have the time to become an expert in real estate, regardless of how much they can research on the internet.

According to the NAR 2010 study, buyers want a real estate professional to…

1. Help them to find the right home – 51%
2. Help negotiate the terms – 14%
3. Help with price negotiations – 12%
4. Help with the paperwork – 10%

According to NAR 2010 stats – Here’s what  sellers want most from a full service agent -

1. Help me price the home competitively – 22%
2. Help find a buyer for the home – 21%
3. Help seller market the home to potential buyers – 20%
4. Help sell the home in a specific time frame – 19%

1. You are the expert, tout your expertise and provide exceptional service to make their purchase as smooth as possible.

2. Become a Referral Source. Align yourself with the best of the best. Become someone they trust by introducing them to reliable attorneys, lenders, contractors, insurance agents etc.

3. The average FSBO home sold for $59k less than one listed with an agent in 2010. View Source. Know the facts, it still pays to use a REALTOR.

To learn more about how succeed in a down market download our white paper “7 Habits of Top Agents”

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