Sales Mastery
2023 Independence Title Education
Location…Location…Location
What
To Consider
• Where do you want to work?
• What type of property do you want to sell?
• Who will you be helping most in the market?
Where To Begin
• Suggested farm area 500 - 2,000 homes
• Begin with 200 - 300 homes
Determining the Turnover Rate – Let’s do the math
Turnover Rate is determined by dividing the number of SOLD homes in a 12 month period by the TOTAL number of homes and multiply by 100 to reach a percentage.
19 (homes sold)
300 (total homes)
100 6.33% Turnover Rate
• A suggested budget - $2 per household per month for marketing = $24 per household for the year.
• This marketing can involve direct mail that is delivered once a month or every other week during certain times of the year. It will also involve just listed/just sold campaigns and community events for the neighborhood.
Example: 300 Households x $24 = $7,200
https://www.inman.com/2022/06/24/5-things-to-know-before-choosing-a-geographic-farm/?message_id=28174570.6790
Multiply the total sales volume for the area by your average commission rate, average sales price and your split.
19 x $400,000 - $7.6 Million
https://www.inman.com/2022/06/24/5-things-to-know-before-choosing-a-geographic-farm/?message_id=28174570.6790
If you are consistent in your marketing and adding value to a neighborhood, then you should be able to gain a minimum 10 percent market share of the listings available in the coming year. Example:
2 x $400,000 - $800,000
https://www.inman.com/2022/06/24/5-things-to-know-before-choosing-a-geographic-farm/?message_id=28174570.6790
• MLS Public Record/Tax Search
• Realtor Property Resource (RPR)
• Remine (Austin & Houston only)
• ReiSource from Independence Title
Farming with ReiSource
• Geography & Map Search
• Mortgage Information
• Property Information (% equity)
• Distressed Deals
• Foreclosure Information
• Owner Occupied/Absentee
• Print Mailing Labels & Export Data
Geography
Common Geographic Searches:
County
Map Search (you draw parameters)
Subdivision Zip Code
*Note: School District is NOT a searchable field REiSource.
Farming is a long-term, forward-looking approach and an overall game plan of any organization or any business with the fundamental goal of achieving a sustainable competitive advantage by understanding the needs and wants of consumers.
The “Marketing Rule of 7”
A principle that asserts that a potential customer needs to see or hear a marketing message at least 7 times before they will take action and make a purchase.
First Contact – Introduce Yourself
• Introduce yourself with information relevant to them
• Do you live in the neighborhood?
• Have sold in the neighborhood?
• Years of area experience
• Market expertise
• Service offerings
• Provide valuable content, i.e.
• Market Stats specific to the neighborhood, area, metroplex
• Appreciation
• Days on Market
• Buyer Demand
• Offer more information/service with Call to Action
• Visit my Facebook Page for a full Market Update
• Curious about your home’s value? Call/text/email me your address for a free comparative market analysis
Give and you shall receive.
• Military Discounts
• Faculty at your nearby school
• Doctor’s office
• Host Neighborhood Events
• Builders
• Roofers
FINDING OPPORTUNITES
… people know you how they know you. Meaning, they think of you as their:
• neighbor
• friend
• cousin
• former co-worker, etc
FINDING OPPORTUNITES – APARTMENT RENTERS
FINDING OPPORTUNITES – APARTMENT RENTERS
Make It Personal!
Don’t just be one of hundreds to wish them a Happy Birthday on
• Market Conditions
• Housing Inventory
• Appraisal Gap
• Seller Leaseback
• The Housing Shortage • Loan Limits
Swipeable Infographics
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Format of Infographic
Swipeable Content to an Instagram Story
Select a multipage infographic
Tap Share and select Save All 3. Post the individual photos to the social media post
Nearly half of all buyers use open houses as a source of information in the beginning of the process.
-National Association of Realtors
MARKETING STRATAGIES
“Successful people are simply those with successful habits.”
– Brian Tracy
It’s
all
about the follow-up!
• Leads are 9x more likely to convert when follow-up is within 5 minutes. – Ziff Davis
• 73% of all leads aren’t sales-ready. – Marketing Sherpa
• Nurtured leads produce 20% more sales opportunities. – DemandGen
• Companies that nurture leads generate 50% more sales at 33% lower costs. – Marketo
• Emails sent for lead nurturing purposes have a 90% higher click-through rate. – Hubspot
• Personalized emails increase conversions by 10% on average. – Aberdeen
Call Your Leads Same Day
• It takes an average of 8 cold call attempts to reach a prospect.
• 80% of lead conversion requires 5 follow-ups AFTER the first meeting.
• 44% of people working in sales give up after ONE followup.
• Email is almost 40 times better at acquiring new customers than social media.
• After a presentation 63% of people remember the stories. Only 5% remember the statistics.
What information do you need for a CRM?
• Cell phone number
• Email address
• Mailing address
• Physical address
• Birthday
• Where they work
• Names & ages of children
• Names & ages of pets
• Home purchase anniversary date
• Mortgage details
• Current home vs dream home
• Hobbies & interests
• Favorite holiday
• Last discussion
• Name of referrals given
• As much information as possible!
People in Your CRM
• Past Clients
• Current Clients
• Business Owners
• People You Know Personally
• People in Your Professional Network
• PROSPECTS
• FSBO’s
• EXPIRED’s
• FARM AREA
• EVERYONE YOU KNOW
CREATE OPPORTUNITIES TO MEET PEOPLE
MAKE A PLAN
Select activities that best fit your target customer and where you want to grow!
• Host an Event
• Run a Contest
• Just Listed/Pending/Sold Marketing
• Face to Face with Sphere
• Handwritten Notes
• Sphere Calls
• Sphere Pop-bys
• Business Pop-bys
• Social Media Posts/Videos/Ads/Blogs
• Social Medial Personal Messages
• Open House
• Monthly Newsletters
• Farming Post Cards
• Farming Door Knocking
• Unsolicited CMAs to Farm Area & Sphere
• Welcome New Neighbors
• Social Events
• Market to Expired Listings
• Market to FSBOs
• Website Leads
• Cold Calls
• And Many More!
EXECUTE
EXECUTE YOUR PLAN
EXAMPLES OF DAILY ACTION ITEMS
• Make a minimum of __ contacts (M-F)
• Post on Social Media
• Read (or listen to) a growth book for 20 minutes
• Workout or walk for 30 minutes
• Gratitude Journal / Affirmations
• Write 5 handwritten notes
• Research market updates
• Learn 1 new thing that will make you a better REALTOR
• Work on any monthly action plan items that need to be addressed (ie. Birthdays, open house, etc.)
• Set your desk/office up for the next day (be able to walk in and get straight to work)
EXECUTE YOUR PLAN
EXAMPLES OF MONTHLY ACTION ITEMS
• Mail birthday cards to members of my sphere who have a birthday that month on the 1st Monday of every month.
• Do 4 open houses
• Distribute my Monthly Newsletter to my farming areas
• Go LIVE on social media twice a week
• Host an event – several low-cost option that give you a reason to reach out to your SOI.
FINDING GROWTH OPPORTUNITES
EVALUATE YOUR BUSINESS EVERY QUARTER
• What’s working?
• What’s not working?
• Am I on track to complete my annual goals?
• What do I need to improve on?
• In what areas do I need help?
Do Your Research
• Research your desired areas to determine viability.
• Research your farm areas and identify the type of properties in your market.
• Research your options for marketing material.
• Research the cost of the marketing activities you want to implement.
• Research the demographics of who you’re marketing to.
Identify Your Marketing Activities
Select the marketing activities that you want to focus on this year.
Add marketing activities to your plan and challenge yourself as your business grows.
CREATE PROCESSES
• Add dates to your calendar for sending out your marketing material
• Update Your CRM everyday (Feed It)
• Find Activities that will put you in front of people
• Keep Up with the Market
