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P034 Geographic Farming: a few best practices that maximize listings
Manage episode 237001757 series 2328612
[00:00:00] Hey this is Beatty Carmichael and I wanted just to do a quick introduction to this audio so it makes more sense. We provide services to help people as you know generate sales and referrals from both their personal contacts and also a neighborhood type of environment. Let's call it geographic farming and in both scenarios there are different types of best practices that will drive increased results because ultimately the only thing we can do is keep you always there in front of those folks with a with content that that encourages them to choose you. But ultimately in the game of real estate it's about relationships. And so if you can establish a relationship you're going get far less results than if you can. And so this particular call is what I call a client engagement call. I try to reach out to all of our clients at least once in the early stages with their tenure with us and just make sure that they're focused on best practices.
[00:01:04] That's what this call is all about best practices in making a geographic farming type of arrangement work best. So I hope you enjoy it and hope you get a lot out of it. Thanks. So right now what I want to do on this call is I want to cover best practices. The best practices that drive results. Some of these best practices or depending on kind of what service you're worth it. We have several services but most you know somewhere in the mix this is also where the guarantee lies. I won't be really covering the guarantee stuff just make sure you if you want to make sure that you qualify for the guarantee if needed.
[00:01:52] Just make sure you re not interested. Go on the I know your routine and like well you really got to be negligent to make that work.
[00:02:02] Yeah you really do. But you'd be surprised how many agents are negligent because they go at that. I'll forget and that it is a kind of partnership. But let me cover at a high level. Some things and then I want to come down to activity level and then just kind of make sure that you're pointing the right direction and what we see and believe are the best things to do so at a high level. Homeowners choose an agent for three reasons. They know you and like you they know why they should choose you. And you happen to be top of mind at the moment that they're thinking about choosing an agent. So no one they know and like you is really kind of your responsibility we can't do anything to foster that because that's the whole idea of a relationship. The Numbers 2 and 3 they knowing why they should choose you and they are your top of mind. So at the moment they're actually thinking about choosing someone you come to mind. That's what our program really works on. It's more like a stool with three legs if you take one of those legs out there still is not real effective. So that engagement on your end is going to be really kind of a key factor in the big scheme of things to drive most results. I want to share some examples of what other people have done for that personal engagement factor because it can takes off.
[00:03:42] It can take all types of forms and shapes. There is no one size fits all. So one of our clients His name is Nelson and he's targeting a community of about fifteen hundred homes. He was just one of many agents there when he started with us. He was you no nobody in terms of listing No no know what rank was he in terms of agents within the community. And he started with us. And at the same time he also started to promote the community Facebook page that was there out of fifteen hundred homes. There was only 200 people on the Facebook community page. So he's a door knocker. And he made a habit of trying to doorknock at least three times a year obviously as he got busy. He wasn't able to keep that pace up. But one of the first things he did in doorknocking once he started with us is he started to promote the Facebook community page. Hey we got the Facebook community page for horse thief Canyon you know log in and become a member stay in touch with all the news out of whatever it is. So getting out there and doorknocking and just putting door hangers on everyone's home. He got the membership up to about 800 on the first go round is now over a thousand.
[00:05:02] And between that and what we did in the mailbox in 18 months he was at 22 percent market share of all of the listings and 18 months later he was about 50 percent market share. Now what he also did is the administrator of the Facebook community page was kind of tired of managing it and so he asked if Nelson would take over it and Nelson said sure. So what Nelson did is every time a new person came on Facebook community page or joined then he would do a private message with them and just welcomed them to the community page let them know hey I'm a realtor here I live in the area. This is a great page and if you have any real estate needs a site you know he would then also add them as a friend to his personal Facebook page then he use that as a communication platform to say top of mind all the time. Anytime he listed a home in that community he would always put out a just listed are actually he would put out a just list coming soon just listed open house under contract sold. So he got five touches for every house and people disagree seen him all the time always with activity always in horse thief Canyon and between what we did for him and what he was doing there.
[00:06:33] It just ballooned his business. So that's one way of a personal interaction a second wave of personal interaction not one of our clients but a great story nonetheless. Marley. More like excuse me. Marla is over in Washington state and she's in an area called gadget and she's a mom with three kids. She's just started a real estate business about a year. About the time that all this started and she's living in a community of three to four five hundred homes that most people just were not really friendly and no one really knew their neighbors. They didn't get out they didn't socialize. Everyone just kind of stayed to themselves. And she wanted to know more people. So she said I want to have a get together and bring people to the house. It probably helped my real estate business but I really just want to know people as a mom with kids. So she started saying. Who do I invite. And she realized it's always awkward to go to a party when you don't know people and you don't have anything in common and therefore you don't have anything to talk about. She said Why don't I invite people who have a home business because they always have something to talk about and they want to share it with others. So she invited people you know more advertiser marketed to the neighborhood invite people over if you have a home business especially come over you'll be able to share it with everyone in the group.
[00:08:02] And let's just get to know each other 20 or 30 people showed up on their first one. It was so successful she started doing it every month. She called it this gadget social and in somewhere between a year and a year and a half she's at like 35 or 40 percent market share of all the homes going on the market. And when I started talking to her about that it hit me what the beauty of it was she's got network marketers that she's attracting and they're the ones who are always talking and networking with other people. So. So that's one way to engage. Another way you can engage is you can do community drives. OK. So like a food drive for the hungry clothing drive for the homeless pet food drive for the abandoned pets and the local humane society you know to anything that taps into the different heartstrings of all the various people. And you would have those drives you would promote it you become now the kind of a community caretaker you get people to bring everything to one location on a certain day you know bring your clothes on this date to this location and then you're there. And so now when they bring it you're able to meet them face to face.
[00:09:23] They've been seeing your stuff they like you they trust you. It builds that trust. And so now you're engaging with the community. Another aspect that you can engage with is like a community social Saturday especially at the community where your targeting has either a green space or if it's all together and served all spread out. If it's a if it's a tight community you know like they're all in and scratch it sound for example and then you would invite them to you know free ice cream at the local park bring your kids come out and visit with your neighbors. You know maybe you will have some like music and bring food and grill out if you want but we're going to have a social there. And so that brings people together all the people in the neighborhood you're organizing it. And at the ice cream truck that you rent and pay for you know you're there and you're meeting the people as they come by or whatever the event may be you're there and you're meeting the people and now they're putting a face and a name. They've been senior postcards. Now they get a chance to meet you sir. Now in all these cases whenever they get the postcard they go oh yeah I met that guy. I like him. Does that make sense. And does any of this resonate.
[00:10:49] Good. So these are gonna be the most important things we believe that you can really do. Because here's what we have found. First off let me ask you Have you done any marketing to the farm that you're doing with us right now.
[00:11:08] The specific number addresses I sent to you I have not. I isolated this. OK. Go ahead. I did get those from a predictive analytics and there's. This systemically supposed to be more. More likely to go on. Yeah yeah yeah.
[00:11:30] So the predictive analytics are all good. The ones that we've looked at and kind of measured and I can't say we've been an expert at it but just in casual anecdotal. Let's see how good the list is. This list is a year old. Now let's see how many of those people actually went on the market compared to the turnover rate of that area and they seemed to kind of be around double the turnover rate which is what the goal of analytics is. ISO if you haven't met him the biggest challenge that we've experienced is that they get to know you. My experience is this. And especially as you go west and your west. So this is going to play to you in most cases. Give you a little background. We would mail just direct response cards to homes in the south got great responses overall. And the further west we start to go the fewer of the responses we would get. So we started to study it and analyze it. We actually participate in a market research group with an MBA college level class and they use us as a case study and do surveys and everything else with people and what they what they conclude is what we thought but all everything mashed up is there's an element of what we call trust. And I've coined the term trusting community a trusting community is a community that trusts you individually as a realtor as someone that they can trust.
[00:13:11] Okay. So the way that you build a trust is you've got to either be there all the time for a period of time so that you're very familiar and they constantly see you and recognize you and differentiate you from others not necessarily different your skill but maybe you have a unique color scheme for your marketing a unique catch phrase something that you just kind of stand out or trust is built because they personally match you. And this is why that personal meeting. Why you know so much focuses on all these things that you do to touch personally. So if you haven't met them the biggest hurdle to get good results is to get them to trust you. That's good. That's number one and that's where the emphasis on all these other things I've shared are going to be really important. Figure out one or more things that you can do and that can help guide you in terms of just brainstorming how to execute on any of these. If some of them resonate but that's going to be I think that's going to be the tipping point between you're going be really pleased with the results or not there's going to be your level of engaging them to build up their trust level.
[00:14:28] I did. I did do a door knock campaign. I did a mailer and then I did a door down campaign. And then I followed it up with a letter. Then they had my picture and the first line was remember me. Yeah I love it.
[00:14:43] Yes. Anything like that. You know one of the other things to do is to the best of your ability if you do engage personally you can do a social type of event of some sort. Then make sure you make a list of all the people you've actually met. You'll have their addresses already and just send a handwritten note. John and Jill. It was great meeting you at the cookout. You guys are a lot of fun. And I would love to. You know whatever it is just two three sentences drop it in the mail on your professional thank you note letter. Fold over thank you note or something but it's your real estate and letterhead so now it's coming from you professionally. But it's all personal. And now that's a one two hit and go. I really like this guy. He's classy and that makes it they'll make a big impact on that relational aspect.