REALTOR® University

Wednesday, July 25, 2007

Niche Marketing

If you look at the marketing that most agents are doing you will find that they try to be everything to everybody. I'll list your house, sell your house, help you buy a house, work with you as an investor and on and on. We are tempted to try and capture the entire market.

But think about it, can you truly be an expert on everything? You would be better off if you figure out who you want to work with and focus the majority of your marketing efforts on those people.

But who are they? You need to figure out your focus area. Start by making a list of all the different groups you belong to or connections you have to people. Do you want to work with sellers or buyers? Military relocations or a certain school district could be your focus. If you are going to concentrate your efforts on a specific subdivision now you need to know everything about it. What are the homes like, who were the builders, price ranges and sizes, market statistics, etc...

Next you have to develope a marketing plan. In addition to becoming a neighborhood expert you need to find out how to reach those people. Join the Home Owners Association or the PTA, and develope your marketing materials to address local concerns specifically. Make your content memorable. People won't call you for their real estate needs unless they remember you.

Commit to contacting your market 2 to 3 times a month for the next year. If you can't afford to mail out that many times then make your list smaller. Consistency is the key when establishing yourself as the local expert.

Sunday, July 15, 2007

Lead Generation

Many people get into real estate thinking that all they have to do is get their license and sit back and watch the money roll in. Well, if you haven't gotten your license yet, think again. And if you have your license you have probably realized by now that people aren't pounding down your door trying to give you money.

Having a real estate business is all about lead generation. You must generate new leads every day if you want to be successful. New agents come out and, if they are given the right guidance, they prospect consistently until they have generated a seller or buyer contract or two, but then they get busy dealing with inspections and title stuff and they forget to prospect.

Bad move! Remember, the clients you get today result in a paycheck in the next month or so.

Stay focused, prospect daily and set yourself up for success. For prospecting ideas, sign up for my business tips newsletter.

Friday, July 13, 2007

The Will to Succeed

What does it take to be successful in Real Estate?

A positive attitude..No one wants to work with a negative person.

Persistence...People will tell you no multiple times before they say yes.

Determination...You have to believe, "Failure is not an option"

Focus...There are many things trying to distract you from your goals.

Strong Work Ethic...The greatest thing about real estate is you are your own boss. The biggest drawback about real estate is that you are your own boss. You have to have the strength to get up and get busy.

Visit often or subscribe for tips to help you build your real estate business. Until next time...