Three decades ago, potential clients were reached by print advertising, mailings and landline phone calls, or by going door to door. Leads took a lot of time and investment and there was no real way of targeting the people most interested in what you had to offer. While those older methods are still used, technology is leading the way as digital lead generation methods take over in ways that were previously unthought of. In today’s digital world, you can connect with potential clients while they are at home or work, in the gym or anywhere; they are frequently online using both desktop and mobile advertising strategies. While some of these strategies won’t cost you much money, they will all cost you some time, but the payoff can be significant because you are spending money on the people who have the most interest in what you have to offer. Here’s a few strategies for driving warm leads in the digital age.
Free Digital Advertisements Using these “free” strategies, real estate professionals can cast a wider net for their properties, and your brand.
Paid Real Estate Advertising -Pay Per Click and Remarketing While these are both paid strategies, they are really central to real estate marketing operations in the modern brokerage. Google AdWords, while widely used, has become quite expensive and so the addition of remarketing can have the effect of delivering you a lower cost per lead, and more leads that are really “warm”. These strategies will drive interested parties to your website where they can use the MLS search to further locate homes. Once they are doing this you have a good chance that it will be your team that gets the call when they see something they like. If they don’t contact you on their first visit to your website, remarketing will ensure that they are reminded of their interest in your listing as they travel around the Internet. Only people who have visited your website at least once will see these ads and since they’ve already shown an interest, the chances are much higher that they will contact you the second time around. In Google, the cost of remarketing clicks is usually much less than AdWords clicks and so this has the effect of driving down your overall cost per warm lead. Winning the Warm Lead Game More than most people, real estate agents understand that you have to kiss a lot of frogs to meet a prince. Having an active lead funnel is key to that and your leads have to come from as many sources as you have time and resources to cultivate. It’s one of the reasons why a brand like Weichert invests so much money in lead generation and a call center that scrubs those leads even further to only pass the most qualified ones on to the agent. Not only does this take some of the financial burden of advertising off the broker’s shoulders, but the complexities of modern digital advertising are handled by experts to your benefit and the leads your agents receive are only the most likely to lead to a transaction. You can read more about our lead network operations at https://www.weichertfranchise.com/real-estate-lead-generation/ or by calling the Weichert Franchise Team today at 877-567-3350. Original content posted on https://www.weichertfranchise.com/blog/top-ways-increase-warm-leads/
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Running a real estate brokerage has its share of expenses. Payables—large or small—are a necessary part of doing business. Expenses like rent, office supplies, insurance, furniture etc. are easy to understand and manage. What is less obvious are the investments in marketing, advertising and technology that many brokers spend thousands or even tens of thousands of dollars on each month. The temptation to periodically cut these expenses requires a much more considered analysis that can’t be based completely or even in some cases, primarily on pricing. Conversely, you shouldn’t drop precious budget dollars on every new shiny thing that comes on the market.
Necessity Of Large Expenses You must build and advertise a reputable brand to draw clients to your listings, competing with more well-known franchised brokerage names. Brand building for the independent brokerage can quickly eat away at your budget, especially when figuring all your advertising expenses. According to data published in 2012-2014 by the Association of Real Estate License Law Officials, U.S. real estate agents and brokers spent approximately $8.9 billion on residential advertising in 2015. That’s a substantial amount of money, yet an important expenditure if you are to compete for listings and credibility in your local market. Let’s not forget our need for technology, and its ever-increasing role in real estate. Other than general IT set up and maintenance, customer relationship management (CRM) is a large, yet crucial, cost of doing business that can help streamline much of the real estate process in a busy brokerage. CostOwl reports that in 2018 inhouse CRM costs range from $100 to $1,000 per user plus maintenance, support, updates and potential customization, while web-based CRM systems run $50 to $100 per user every month with lesser fees for smaller brokerages. Expense Analysis Revisited As you know, with some business items, using a less expensive version works just as well and saves money. But this isn’t necessarily true for larger purchases. Of course, you want to spend money that provides the most value and significant benefit to your brokerage. It’s always a good idea to consider your bottom line when factoring in a new or recurring expense, but there is a difference between purchasing a store name brand to save money on office supplies versus buying a bargain basement real estate CRM technology because it has a lower up-front cost. In the case of a CRM for example, between increased labor in transferring data, lost production time and price of a new system, it’s more cost effective to choose the right CRM system for your brokerage from the start. One that provides high value, and is right for your operation, rather than choose a system based primarily on price. When you are part of a franchise, such as Weichert, you typically have the added benefit of a CRM that they’ve already vetted or customized. The Weichert CRM, for example not only provides top tier real estate features such as contact management, marketing automation, open house management, and mobile app access, but its internal workflow has been designed to echo the best practices brokers and agents are taught on their roadmap to success. Your ability to integrate a CRM into your operations is just as important as the CRM feature set and this is not an area to pinch pennies. Look At The Whole Picture Why be penny wise and pound foolish, as the saying goes? Look at the whole picture of expenses in a way that incorporates a wider view of their utility. Once you’ve made these decisions, give these expenditures a chance to prove themselves. Advertising mediums can be tagged to understand how much additional sales you are getting from expenditures on each. Technology can be judged to large degree on the utility it provides to you and the feedback of your team on its usefulness and ease of use. Budgeting more for items that can have big payoffs in the long run, such as specifically targeted brand advertising or an efficient CRM system can increase the brokerage’s long-term income and reduce their operating costs in a way that more than offsets the cost of the advertising or system. Gain Access To Systems That Work At least some of the headaches’ associated with expense management and analysis can be helped by having some deep, expert experience in your corner. Having the resources of a franchise system behind you can save you tremendous time vetting options and more time being productive. Not only do you instantly gain a brand name that matters, input from your coaching team and fellow franchisees about many of the most agonizing expenditures you face is always just a phone call away. Could your brokerage benefit from this? Learn more at weichertfranchise.com or call 877-533-9007. Original content posted on https://www.weichertfranchise.com/blog/stop-seeing-red-smarter-view-brokerage-expenses/ 2/20/2018 Understanding The Difference between Facebook And Instagram For Real Estate MarketingRead NowSocial media has taken over marketing in recent years, with 69 percent of the public using social media of some sort. You may do all your brokerage’s social networking or elect to turn that over to a marketing specialist. Whatever you choose, it’s imperative that you understand the demographics of each social platform to wisely spend your marketing time and money, while carefully branding your brokerage.
Facebook has emerged over the last 13 years as a powerhouse among the social networking platforms. According to Pew Research Center’s Social Media Fact Sheet, 68 percent of adults in the United States use Facebook. Facebook acquired Instagram—a newer social site—in 2012. Its use is becoming more popular at 28 percent of U.S. adults and amassing over 800,000 users to date, trailing far behind but still second to Facebook. Part of Instagram’s growing popularity is the ease of post and paid ad sharing between the two sites. Facebook Friends Facebook may already be central to your marketing plan for its wide range of demographics and the sharing of all types of media—photos, messages and video—across desktop, mobile and tablet formats. Its use is split almost evenly between males and females. Many view it as a networking forum for older adults, but that’s not a well-rounded picture of this versatile site. While Facebook does attract a larger share of the over 49 crowd than other social sites, Pew Research Center’s data indicates that ages 18-29 are big Facebook users (88 percent) with those ages 30-49 close behind in usage (79 percent). Content should be engaging in more than one way, so create a mix of videos, images, information and calls to action that elicit user interaction to get followers. A little tasteful fun goes a long way on Facebook. Instagram Images Facebook purchased Instagram back in 2012, and it has retained most of its unique nature. Both social sites share photos, videos and messages, but Instagram features images first and foremost, allowing the user to add numerous digital filters, as well as use image hashtags and geotags. You can create your own hashtags for events, open houses and more to gain traction. Since December 2017, users can follow hashtags, so your image hashtags need to be relevant, retain your style, and be interesting to grow your followers. Instagram’s newest rollout—Stories—is a Snapchat-like feature that is quickly growing in popularity. Instagram is primarily intended for use on-the-go with a smartphone, appealing to younger users. In fact, Instagram’s core users are ages 18-29 (59 percent) with a higher percentage of women of any age favoring the site. Ages 30-49 make up 33 percent proving this network is a haven for those ages 49 and younger. As a real estate broker, structure your Instagram posts around interior design, as that is a favorite topic on this platform. Has a local or national celebrity viewed a listing or sold a home using your brokerage? Snap a photo and post it (with permission), as celebrity and entertainment posts are hot. Visual consistency and imagination go a long way toward building your Instagram following. Stand-Out Instagram Marketing Instagram is all about the aesthetics. To leverage marketing on Instagram that plays to your brand and brings in sellers and buyers, it helps to study a few real estate accounts of those who are rocking it in the world of Instagram marketing. Here are some tips to help individualize your brokerage on the Instagram platform:
Play Off Each Other Instagram is a logical choice to add to your marketing arsenal to attract more of the on-the-go Millennial masses and even some older groups. As they play off each other, using Facebook and Instagram together equals a robust social sales strategy. At the end of the day, a consistent approach to social media usage is just one part of your marketing and sales strategy. At Weichert, we have the systems that can help you pull it all together. Contact us at 877-533-9007to learn more or go to weichertfranchise.com. Original content posted on https://www.weichertfranchise.com/blog/understanding-difference-facebook-instagram-real-estate-marketing/ Online retail giant Amazon is searching for another location outside of the Northwest to build a $5 billion facility and hire up to 50,000 employees. While many would be hired from the direct vicinity, others would come from nearby regions or even out of state, making a move necessary for a percentage of employees. Could you capitalize on this influx of home buyers or renters if your town or city was chosen?
Relocation Clients Matter Of course, other companies don’t just start up in a new state, but transfer employees from an office in one location to an existing office in another state, sometimes due to mergers and acquisitions. The most recent movement trend research from the Worldwide Employee Relocation Council indicates that 49 percent of transferees were relocating for the first time due to a promotion or lateral move. First-time relocation clients require extra help navigating the ropes from selling their current home in one city to purchasing or renting a new home in the perfect location in another city. Create A Specialty In Relocation As a broker, you should be looking at all revenue sales streams for your brokerage. Making relocation a specialty taps into this lucrative market where few tread, providing you with valuable and consistent leads any time of year. Relocating buyers and renters want someone who knows the area well and can educate them on all the local amenities, services, schools, eateries and entertainment with an over-all knowledge of what makes the area tick. The challenge of course, is understanding how that business works and then getting the relationships with the corporate entities that do most of the relo in your area. These relationships are often under contract to other national real estate companies and it can be difficult for independent brokers to make inroads into this market. That’s where an affiliation with a large national real estate brand can be particularly helpful Weichert Workforce Mobility for instance, is Weichert’s national relocation company, responsible for managing relo services for companies large and small around the world. These opportunities feed our qualified local Weichert brokers in markets all over the country, providing yet another lead funnel in addition to Weichert Lead Network. Serving relocation clients requires some special knowledge and training. These clients require a reliable and stable brokerage they can trust with what, for many, is a daunting move. As a broker you must provide agents or teams who are interested in this section of the market with training to gain relocation designations or recruit those already relocation designated that have valuable experience in this field. Be The Go-To Relocation Brokerage Depending on your location, you can position your brokerage as the relocation authority and create messaging in your marketing materials—from advertising to social media—with that in mind. Work with various moving companies, house cleaners and other services to provide clients a streamlined transfer experience to reduce the high stress of making a big move. This way your brokerage is always the area go-to for organizations or referral agents with client relocation needs. This is a labor-intensive process and an additional expense at first, but will pay off in time. The Inside Track To Relocation The easiest way to get up and running is to join forces with a company that’s already in the business. Weichert Affiliates, for example, have the opportunity to qualify for leads through Weichert Workforce Mobility, a leader in the relocation business. If this is something you are interested in for your brokerage, maybe it’s time to take a look at a Weichert franchise. Call 877-533-9007 or go to weichertfranchise.com to learn more. Original content posted on https://www.weichertfranchise.com/real-estate-agent-recruiting/tapping-relocation-market/ 4/18/2017 4 Reasons Why Using A Real Estate Contact Management System (CRM) Helps With Your Lead Management StrategyRead NowIn the real estate industry, leads are everything. They’re what can build your business, help you grow, expand your team and increase profits – but too often, promising leads can get lost in the day to day frenzy of activity. This is where a real estate CRM system comes into play. These software systems are developed specifically for the real estate industry in order to help your team make the most of their leads. Here’s how:
Get the Most Out of Real Estate Lead Generation with the Weichert® CRM System The Weichert Franchising System combines decades of real estate experience and expertise with cutting-edge technology, real estate coaching programs and tools, including an innovative, easy-to-use real estate CRM system. Designed to support real estate agents and agencies that want to grow and succeed in a tech-savvy market, this system focuses on combining high-quality lead generation resources with streamlined customer service and real estate business management tools. For more information, please contact us today and see if the Weichert Franchise is a good fit for your brokerage. Original content posted on https://www.weichertfranchise.com/real-estate-crm/4-reasons-using-real-estate-contact-management-system-crm-helps-lead-management-strategy/ 3/21/2017 Instagram Live & Facebook Live – Using Social Media for Real Estate Lead GenerationRead NowIt’s no secret that social media is an invaluable resource for building brands, generating leads and effectively marketing yourself and your services to potential clients – but what does this mean for real estate? And how can brokers utilize this resource properly? Here are some insights from real estate lead generation specialists at Weichert on two of the latest capabilities added to Instagram and Facebook, and how they are being used to market homes through social media.
Using Instagram Live For Real Estate Sales – A How-To Guide This is a new feature on the Instagram app that allows you to stream real-time video. Unlike Facebook Live, these videos are deleted after each session, but you can also send them directly to individual clients using a direct message function. Instagram is a popular destination for younger home buyers, so if you haven’t built a following there for your agency, you should. On Instagram there are three types of videos that you can create:
You can customize the settings for these videos to select who can see them, whether comments are turned on or off and even evaluate the video’s success through the analytics capabilities. Simple, easy to use and effective, this is great for announcing a new listing or service, promoting a photo montage of a listing or even bringing attention to sales that you have recently closed. Once you get the hang of it, it’s easy and you can do it spontaneously right from your cell phone. Try to get creative with this medium, for example, encouraging feedback on a listing’s elegant kitchen or kid-friendly yard. Using Facebook Live For Real Estate Sales – A How-To Guide Similar to Instagram Live, Facebook Live allows you to create and post videos to your Facebook profile. It’s great for encouraging engagement, as you can invite viewers to subscribe to your video feed, so they’ll automatically get a notification when you next broadcast. You can also select who sees the video and monitor comments and results. This service is more business-orientated than Instagram Live, as it allows you to edit your video, add a call to action and even utilize Ads Manager for additional visibility. Simple to use and very interactive, this is a great medium for sharing information on how to buy or sell a home, the latest news in your industry and even doing live tours of listings. Again, it’s important to get creative in order to engage your audience. Try showing off great neighborhood attractions in areas where you have listings, or tips on how to move on a budget. Make Social Media Work For You and Generate Real Estate Leads Social media networks offer exceptional real estate lead generation potential – if they are used properly, consistently and effectively. At Weichert, we utilize industry leading technology, expert support and real estate coaching programs to assist our affiliates in developing highly effective online real estate marketing strategies. Keeping up with technology is a challenge for every broker, but we have the tools, training and resources to help you without getting in your way. Contact us today for more information on our services or to see if the Weichert Franchise Model is right for your brokerage. Original content posted on https://www.weichertfranchise.com/blog/instagram-live-facebook-live-using-social-media-real-estate-lead-generation/ |
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