November 20, 2008

John Surge says:
Welcome, we will get started in just a moment.

John Surge says:
The chat will last 45 minutes and be open to any questions or comments on marketing and growing your real estate business.

John Surge says:
OK, let's get started. Looks like we will have a small group today so please feel free to dig in and ask everything that's on your mind.

John Surge says:
By way of introduction, my name is John Surge and I am the President of Hobbs/Herder. I have worked with Don and Greg for the last 18 years and my specialty is helping agents and companies develop successful marketing plans.

John Surge says:
Who has the first question?

farnhamm says:
I am struggling with whether or not I should re-launch my farm campaign when it seems like every appt will be in a position where I can't sell their home for what they need to. It'll just cost me time and money to list these

farnhamm says:
Hi John! (by the way, sorry ) {smile_smiley}

Dave Kinskey says:
What strategies are best for capturing buyers on a web site? I give buyers access without registration to my site to browse the MLS and get some inquiries, but since addresses have been published on our public IDX for a couple years now, the inquiries are much less than they used to be. Offer something for contact info?

Ron says:
I read somewhere that instead of advertising listings in a r.e. magazine write a personal or bio about yourself to promote your services, what would you suggest? And would you consider doing this in a smaller newspaper?

John Surge says:
Farn, great question. Hi Farn :-) I would first have you look at what your short-term and long-term goals are. Is it conceivable that every home is short? Is that your concern? The best strategy would be to continue your marketing so that you pick up market share long term. In the short term, be highly selective with the listings you take. Be increasingly bold and straightforward. Don't take overpriced listings from sellers who don't have a grip on reality. Is that helping? We could cover some more on this topic.

Ron says:
What would you do as far as advertising if you were new to r.e., (3 months) to get listings? I want listings!

farnhamm says:
Knowing that we'll be in this similar buyer's market for at least the next year I have a hard time spending all the money the campaign takes to run knowinig that the piece of that pie that can actually list their home in this market is so small ... and those who are in a position obviously would only be doing so as an ABSOLUTE last case scenario if they had to. Nobody wants to list in the mkt if they don't have 2

Dave Kinskey says:
No, I have my own website which shows up high (often top 5) in search engines such as Google for our area of Fargo, ND and Moorhead, MN region.

John Surge says:
Ron, sounds like you have not been to a Hobbs/Herder seminar. Is that accurate? In general, yes, we coach agents that spending money on running ads of houses is not the most beneficial use of advertising dollars and that your dollars are better off spent promoting you and your personal brand.

Dave Kinskey says:
Farnhamm, sounds like the perfect time for sellers in your market to sell and move up in price range, while soft conditions are also affecting the homes they would buy. If they wait until their home is worth more, the high priced homes will be even a further spread based on appreciation... If both homes go up 5%, the higher priced home becomes more expensive.

Ron says:
John, no I haven't, I must have read that from your site or one of your publications.

John Surge says:
Ron, I would develop a target market and build a marketing campaign to attack that market. This is a pretty invovled marketing question, but a quick, short answer would be a consistent and strong direct mail campaign to a target market that is not dominated by one or more agents complemented by a strong neighborhood oriented website.

Dave Kinskey says:
5% increase on a 200,000 home would be $10,000 in appreciation on that home, while the same 5% on a $300,000 home would be up $15,000. Waiting costs them $5,000.

John Surge says:
Ron, probably. But, yes, in most instances we try to have agents steer away from what we see as a money sink on house advertising.

farnhamm says:
I totally agree and have been thinkinng about this. Should I try to research with my title company which homeowner's may actually be in a move up position and only market them right now?

Dave Kinskey says:
I would target the first and second time price range owners in your area, with information on why it's a great time to buy, even though it seems a bad time to sell, but that helps them on the buying end.

John Surge says:
Farn, I think the more info you have and the more targeted your messages, the better. If you can, I would continue marketing to your total target market fairly consistently and then augment that marketing with your specialized target marketing. This is if you have the budget for staying power to build marketshare a little more long term.

farnhamm says:
Actually my thoughts have been to market to these homeowner's that they should consider renting their homes out for now, take advantage of this buyer's market and then sell their home a year or 2 or 3 down the road. I would like to think with the right research I could find a good portion of the owners that may be in a position to break even on a rental?

farnhamm says:
That's the problem John ... unfortunately the budget is dropping quicker than I'd like

John Surge says:
OK, Dave, back to you. The position in Google, what types of leads is that generating for you?

Dave Kinskey says:
If you can catch people early enough who are "upside down" on their mortgage, and they need to sell, you can guide them through applying for a short sale to prevent foreclosure, which is even worse on their credit. You still put the home on the market and get paid a commission, negotiating with the bank.

John Surge says:
Farn, yes then, go more niche targeted. The idea of getting data on the homeowners and then targeting them with the right message is on point.

Dave Kinskey says:
Most people start on the MLS home search on the web site. They can call or fill out a form for more information, or fill out a form for me to do a custom search report and the option of automatic home update reports, checked daily on MLS for their search criteria. I don't require an address or phone number on my form. Some provide it and some don't, so I have some blind leads with only e-mail addresses.

Dave Kinskey says:
Advertising my web site in each home ad in the Real Estate Book also drives some people to my site.

farnhamm says:
New Question:

John Surge says:
Well, you need to work on your stickiness. Have you been to the Gateway, Dave? Are these mostly out of town buyers?

Dave Kinskey says:
It would be nice to capture sellers more often. Offering a free CMA doesn't do much and everyone offers that. No, I haven't been to the Gateway. Mostly in town buyers, plus some out of town buyers...who are more "sticky" leads usually, if they are planning an immediate move.

farnhamm says:
I have been wanting to start a "Customer Care Program" for my past clients where I call and tell them I'll be calling every 6-8 weeks with a short and quick update for their neighborhood ... just to tell them the newest listing or sale. My fear is that almost all the calls will be giving them information that will depress them. ....... What could I call them about every 6-8 weeks to still make the "Customer Care Program" work?

John Surge says:
Dave, OK, so you have to think whether a high position on Google with local buyers/sellers really is that big of an advantage. YOur site does not strongly brand you or help the person get to know you. It's possible they are using your search and then using other agents. I would think about improving the branding of your site and then think like a buyer or seller. What info would they trade their information for? CMA is not good. Has to be more compelling.

Ron says:
What is the Gateway you have mentioned?

John Surge says:
Farn, first of all, kudos for thinking about such a program. Too many agents don't do a good job of developing a system for keeping in touch with clients (it's interesting that in real estate we call them "Past Clients"). I don't think it's your job to not deliver information. People want information. And there are always some good things that are happening if we look at things from all perspectives. I think, too, some of the heavy lifting of this contact can be done by mail and email. You're moving in the right direction.

John Surge says:
Ron, it is a 3-day business building, lead generation and marketing seminar we do that, if I must say so myself, is outstanding. We hold this six times a year and the next one is in Las Vegas the first week of December. Check out http://www.hobbsherder.com/gateway

John Surge says:
How are we doing? Is everyone getting their questions answered? Any follow ups?

farnhamm says:
Brochure question: I just had my first baby boy! Should I update my writing and brochure if it's only 3 years old? B/c of the slow market I have really been wanting to do some clever but still "tastefull" marketing to my sphere ... trying to pull on their heart strings that I need to feed my baby. Your thoughts ...

farnhamm says:
yes, thank you John!

Cedric Choi says:
I am just reading for now. I liked your thought about offering something on the website that compels people to call or e-mail. An offer people cannot refuse.

John Surge says:
Farn, well, three years is a long time. After three years, I think at least a mild update would be in order. Your idea to your sphere could work--it's always the line between tasteful and clever that's hard to pull off. I don't think people will choose you to benefit you so I would try to spin the advertising to them. The biggest key is consistently being in their consciousness so they are referring you.

John Surge says:
Hi Cedric, good to have you on board. What we like to teach is that these types of offers on websites can be tested. A website combined with other marketing can drive traffic for the offer. These offers can be tested until you find the sweet spot.

farnhamm says:
Yes, I agree. It always seems like I have created "RAVING FANS" as we are closing on the homes and I feel like I do a good job of keeping in touch (I know I should call more), but I am just very disappointed with the amount of referral business.

Dave Kinskey says:
Any stategy for personal phone contact, both for brief topics and how to best contact people in this busy day and age. Evening hours are limited often with client appointments and it's hard to reach many people at home. Is it a bad idea to touch base with past clients at their work phone?

John Surge says:
OK, everyone. We have about 10 minutes left. You've asked some great questions.

Cedric Choi says:
My feeling is to put an offer on our home page to talk, chat, e-mail directly with our experienced professionals about what to do in this challenging environment.

John Surge says:
Cedric, I think that's good. Come up with a name: A Complimentary Economic Review or something that works for your target market.

farnhamm says:
Work phone is good idea Dave, people say they don't want to talk at work but we all know they really do. The answer % is 31% at home in the evenings and 29% during the day on the their cell or at work. Keep your nights for yourself and your family! John probably has better wisdom on this, but these are my thoughts

Dave Kinskey says:
Getting written testimonials give you ammo for advertising, with their written permission to use the comments. Ask for it at closing and talk with them about it earlier in the buying or selling process. Have a form to give them or mail to them. If you don't get it back within a few weeks (providing a stamped, self-addressed envelope), send another copy, but I don't hassle people after two attempts. I get a lot of great comments.

John Surge says:
Farn, I would agree, but I would also agree that the heavy lifting should be done with mail and email. I also don't think voice mails are bad. If you make contact with people, it should be to offer them something like new info on your website.

Dave Kinskey says:
Also talk with clients about how you'd like to take a photo of them at closing, to mentally prepare them and make sure they don't show up unshaven and in sweats, etc. And ask permission to use the photo in advertising or your web page of testimonials.

farnhamm says:
GOOD IDEA ABOUT THE PHOTO

John Surge says:
Dave, good ideas. I think testimonials and case studies can provide powerful material for marketing.

Dave Kinskey says:
I tell them I'm a bit of a "papparazzi" and want to take a few photos to make sure I get a nice one with open eyes, nice smile, etc.

Dave Kinskey says:
I use their full name, including last name. It makes it more "real" than just first names. And sometimes someone who knows them sees the web page or they tell someone they are on my testimonials page.

Ron says:
Thanks for the info. John. I will check into Gateway.

John Surge says:
OK, everyone. I want to thank you for taking the time to join us today. I hope you enjoyed this service from Hobbs/Herder. It's our goal to stay in touch. What inspires us every day is the success of our clients.

Dave Kinskey says:
Thanks, John.

John Surge says:
Great, Ron. I know you will love it. Give us a call for a special deal for Las Vegas.

farnhamm says:
Thanks John! - Matt Farnham (Las Vegas)

Cedric Choi says:
See you at Gateway.

John Surge says:
Great, Cedric. See you there.

John Surge says:
Next chat is Dec 18 at 9 pacific and noon eastern. Goodbye until then!

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