Now that 2021 draws to a close, it’s time to revisit some of the most important things we’ve learned this year. (And there were certainly a lot of them!)
Here I’ve narrowed it down to 12 takeaways from the columns I’ve written over the past 11 months including startling statistics, innovative marketing strategies, pithy commentary from the Inman community – plus two classic commission defense scripts that never go out of style.
1. Why you should follow up on leads from buyers – immediately
How many leads from buyers have you failed to follow in 2021? Divide that number by two. That’s the number of leads you missed in 2021 by not tracking all of your buyer leads.
According to the NAR 2021 Home Buyer and Seller Generational Trends, 51% of all buyers owned their old home. For baby boomers, these numbers vary between 65 and 86 percent.
Therefore, if you want to take more ads in 2022, start following at once on each of your potential buyers. At least 51% live in a house they own.
This is especially important because 82 percent of the time, the first agent who meets the salesperson face to face when they are ready to make a transaction gets the list, according to the NAR 2021 Profile of Home Buyers and Sellers.
2. The script that kills the Zillow objection
Ever since Zillow invented Zestimate in 2006, agents have struggled to overcome the objection: “But Zillow says my house is worth more!”
With Zillow leaving the iBuyer business because its algorithm is unable to accurately predict future selling prices, Kimberly Doseth came up with a script that kills Zillow’s objection once and for all:
“If Zillow’s Zestimate didn’t work for Zillow, then it won’t work for you.”
Use this script whenever a customer references Zillow’s Zestimates in the future.
3. The Marketing Message You Need To Take Advantage Of A Block List
Glennda Baker of Glennda Baker & Associates in Atlanta has created a powerful way for listing agents to capitalize on a hot ad long after it’s sold. When Baker received 38 offers on one of her listings, she contacted neighbors living near her listing. Here is the marketing message she used.
“We had 38 offers on our list and we have a new owner. These 37 other buyers are still looking to buy in your neighborhood, and one agent knows what every buyer looking for in your neighborhood is willing to pay, and that’s me.
You can use this marketing message for postcards, circle prospecting, cold calling, door to door, social media, YouTube, and other video platforms.
4. How to generate 10-20 buyer leads before your ad hits the market
Jimmy Mackin, CEO of Curaytor, recommended marketing at every stage of the SEO cycle. Because everyone loves getting inside information, here’s how Mackin leverages it in his email marketing campaigns:
Subject line: “I am about to meet a potential seller. “
Body: Not sure if that’s okay with you, but I’m about to meet a potential seller this afternoon at 2pm. Properties like this are currently selling in days with multiple offers.
Call to action: If you are in the market, I can add you to my VIP list. As soon as I can share the information with you, I will. (This may be when you hit the “Submit” button to upload the list to your local MLS.) If you are interested, let me know.
Then bring the responses you received to your SEO meeting. If you’ve already lined up 10-20 buyers who have expressed an interest in viewing the property, the list should be yours!
5. The recently sold email campaign, redesigned
Another email campaign that has worked well in 2021 for Curaytor’s clients is to ‘market your marketing’. For example:
Subject line: 35,230 people viewed the house at 123 Main Street.
Body (Use storytelling to describe what happened): The house was listed for 12 days, received 23 offers and is under contract with a cash offer of $ 28,325 above the asking price. It sold 8 percent more than other comparable homes in the area.
Mackin explained that the delta between the average selling price of your listing versus the average selling prices of comparable homes in the same area is your value proposition.
The following three tips can be used to help you improve your SEO, generate leads from social media, and create videos for your email or other digital marketing campaigns.
6. What buyers want – even more than videos
It’s no surprise that buyers place photos, detailed property information, virtual tours, as well as comparable and pending sale information as their most sought-after features.
What’s surprising, however, is that according to NAR, 67% of buyers wanted floor plans (# 3 on the list below.) Even more surprisingly, interactive maps ranked higher than videos. (52% versus 47%).
So, if you haven’t already, plan to provide floor plans and interactive maps on all of your listings in 2022.
7. Where to look wthe hat is the most searched on google
Here’s how to easily find this information. Check out the first page of Google search (“Your City” for real estate for sale). For example, when I searched for “Austin real estate for sale,” Google generated a list of highly searched terms on the first page of its results.
- Is It Worth Buying A Home In Austin?
- Is Real Estate In Austin Too Expensive?
- What’s the best neighborhood to live in in Austin?
- Is Austin, Texas expensive?
- Austin Real Estate Market.
- Homes For Sale By Owner Austin, Texas.
- Homes Under $ 100,000 in Austin, Texas.
- Foreclosures Austin, Texas.
- South Austin homes for sale.
- Austin, Texas.
This is the most recent list of what receives the most number of searches on Google for your market area. Use these topics to produce blog posts, videos, and social media posts.
8. The “5 best lists” and how to generate them
Long before videos became mainstream, “Top Five” lists ranked very well in Google search. They rank even higher if the “Top Five List” is posted as a YouTube video. Personalize the five categories below by replacing “zone” with the name of your city or local market.
- The top five things you should know before moving to your area.
- The five best things to do for fun in your area.
- The five best places for (pizza, burgers, dessert, etc.) in your area.
- The top five advantages (and disadvantages) of living in your area.
- Top 5 Things You Didn’t Know About Living In Your Area
An easy way to generate the top five lists is to ask your customers what they love, hate, or find fun living in your area.
Once you’ve shot your video, post it on social media and any other digital marketing channel you use. You can also upload it to Otter.ai, a transcription service that offers 10 hours of free transcription per month. Also use the transcript as a basis for additional blog and / or social media posts.
9. How to avoid the risk of waiver emergency inspections
One of the thorniest issues when you’re in an overheated market is that buyers forgo all possibilities of inspection. This is a problem for both the listing agent and the sales agent.
The reason? If there is a serious issue that was not disclosed or only emerged after closing, it is a pending trial. Here’s how to avoid it:
- Encourage sellers to have their property inspected before listing it.
- Ask sellers to complete disclosure documentation before listing the property. Be sure to share both the disclosure statement and the inspection report with the buyer’s agent when he first shows the property or with the first counter-offer on the property.
10. The best self-care tips you need in 2022
Taking care of yourself is not selfish. It is the lack of self-care that is selfish. According to Stephanie Lanier, Lanier Property Group, it’s critical that agents are proactive when it comes to their personal care. It is important that they understand:
When to apply the brakes before hitting the wall. If you wait until you hit the wall, it is much harder to put the pieces back together. What’s selfish is keeping bumping into the wall and creating a wreckage or disaster that everyone has to keep piecing together.
Finally, two classic commission scripts that have stood the test of time and that you will no doubt be using throughout 2022.
11. How to really answer the question of the commission
Here’s what to do when asked, “How much commission do you charge?” “
Agent: What matters most to you, how much commission you pay or how much you’ll earn on closing?
If they respond by saying “How much will we bring in at the close”, here’s what to say:
Agent: Let me show you how our unique 18 point marketing plan helps you get the highest possible price in the shortest possible time.
12. The one word you should never use when it comes to commissions
When it comes to commissions, never use the word “discount” again!
This technique works for agents who can position themselves as “premium agents” rather than “discount agents”. Back this claim with a “premium marketing plan” that describes the services you and your business provide that set you apart from the competition.
Here’s what to say when a seller mentions one of those companies that charge a flat rate or minimal fee.
Agent: Seller, I only work with sellers who want to achieve the maximum net price for their property using the services described in my Premium Marketing Plan. If you would prefer to work with a limited service agent who does not provide this level of service, I would be happy to recommend you.
While everyone loves discounts, no one wants “limited service”. For 2022, never use the words “discount” and “commission” in the same conversation again.
Again, the most important step you can take in 2022 to do more business is to immediately schedule a face-to-face meeting with every lead you generate. This also includes staying in regular contact with past clients and those in your referral database.
Remember, 73% of buyers and 82% of sellers deal with the first agent to meet them in person. Make sure this agent is you!
Bernice Ross, President and CEO of BrokerageUP and RealEstateCoach.com, is a national speaker, author and trainer with over 1,000 published articles. Check out their broker / manager training programs designed for women, by women, at BrokerageUp.com and their new agent sales training at RealEstateCoach.com/newagent.