The elephant in the room
Why should I use a Real Estate agent? To be honest, when looking around, you would be forgiven for asking yourself what do they do that you can’t do yourself?
When I entered Real Estate back in 2007, the landscape was very different, the agent held the key to getting your property in front of the buyers, through the agency website, email newsletter (if they were really progressive) and the weekly property paper, some of them were even giving that TradeMe website a go.
Fast forward to now and those avenues are still the same ones used by most agents, however, serious buyer don’t look in the property paper anymore, why would they, the properties would have been available online at Trademe Property or RealEstate.co.nz for the best part of a week by the time the paper is printed and ready for collection or arrived as an insert in your paper, if you still get one.
In fact, it’s an industry dirty little secret that agents mainly still recommend the use of print advertising to build their own profile. At $550 a page, you should expect a bit more return than one nosy neighbour at your inconvenient open home.
The value the agent used to bring, is all but gone!
Most of the advertising avenues that are available to the agent are accessible to the private individual too, at least the ones that work, the agent also no longer acts as the information source for the buyer.
Often they are in fact a bottleneck as they withhold information in exchange for buyer contact details, after all, if they can’t sell them your property, it would be nice to try and sell them something else.
Buyers don’t want to wait, so they look online or even worse, move on to the next property.
So why should you hire me
I don’t do any of the things mentioned above, in fact I do the opposite, I am totally focused on how I can add value to both the seller and the buyer. Over a period of 24 months, starting in 2014, I monitored and analysed marketing results, measured return on investment, surveyed buyer behaviour, generated statistics and invested heavily in developing new skills and effective marketing strategies.
These are the top 5 outcomes:
1: I don’t do open homes!
Serious buyers don’t go to open homes – it’s a brave statement some might say, however, I actually have the numbers to back it up.
Of the 40 properties, I sold from mid-2014 to late-2015, only 2 out of the 40 were sold to buyers who viewed at an open home, and 38 were sold to buyers who viewed privately.
In the 18 months since discontinuing open homes and doubling down on my new process, I have sold another 120 properties. That’s right, I have tripled the number of properties I have sold in the last 18 months using my new system compared to the 18 months prior using the standard Real Estate method that every other agent uses.
2: I don’t do paper advertising!
As much as throwing money out the window sounds like fun, I don’t think many of us would actually do it. That’s why I don’t recommend paper advertising to my clients. The holy grail of marketing is attention and paper just doesn’t have anyone’s attention anymore.
Over the last 7 years, I have been asking people where they have found the property they enquired on, a staggering 95% now say that they found it online (Facebook, email, Realestate.co.nz, TradeMe Property, Google etc.). That leaves 5% who saw it in the window of the real estate office, saw the for sale sign or saw it in the paper. Seems silly then, to spend the vast majority of your marketing budget on something which yields very little, if any, result.
3: I don’t withhold information in exchange for contact details!
People are so used to being able to just get whatever information they need at the click of a button.
No one wants to wait for the agent to get back to them with a two-page flyer in a day or two.
That’s why we direct people to our website where you can access the information immediately and without interruption.
This gives them an opportunity to start their due diligence process and in turn, ensure the property is a good fit for them before arranging a viewing.
4: Nothing rivals the reach and results of an effective digital media campaign!
Without a shadow of a doubt, social media is taking over our attention (if not our lives) on a daily basis more than 2 million Kiwi’s access Facebook and more than half who discover a new product or brand that interest them will investigate further. As we can all testify to mobile has become the way most of us consume our information.
As mentioned before in this blog, the holy grail of marketing is attention, what we specialise in is creating engaging marketing campaigns that capture people’s attention, a great example was the sale of 51 Tudor Street, Motueka $30 marketing campaign resulted in a sale in less than a week at a price which well exceeded the seller expectations.
The most beautiful thing about digital marketing is that you can measure and analyse every part of a campaign, you can split test your ads to see which one is performing better, and you can alter the campaign part way through and you can target the campaign down to very minute details so you are not wasting money showing your advert to people who don’t care.
What other agents and private sellers struggle with is the fact that getting people’s attention is only part of the buyer journey these days, it’s what we do next that really sets us apart.
5: No frills, no gimmicks. I am an amazing negotiator, and I always get results.
My ability to negotiate deals in all price bracket is very well documented, with 1000+ happy past customers and close to $200 million worth of properties sold. You could say I have had a bit of time to sharpen this skill.
Most agents look at negotiation as the interaction that happens from the offer is made to the deal is done.
I see it differently, to me, it starts when you decide on the method of sale. It involves the advice I give you on how to present your property, in fact, every part of the process from the first interaction the buyer has with your property online or through me plays a part in the outcome of your sale.
This approach has seen me exceed my client’s expectations time and time again and develop an uncanny ability to sell properties that other agents fail to sell.
A huge part of my negotiation strategy is to generate buyer competition, this again ties back to how you approach not only the marketing but the entire sale process.
Generating competition is one area where there is no substitute for experience, and it is, without doubt, one of the key areas where private sellers lose out, generating multiple offers is an art form and a skill you have to learn.
If you want to learn why choosing the wrong method of sale could easily cost you thousands of dollars. Check out our blog post Method of sale, It’s not brain surgery, but….
It’s the right way to do things, that’s why I do it.
I have a very simple philosophy in life which is to treat others in a way I would expect to be treated if I was in their shoes. The same goes in my business, I always aim to deliver a service which I would be happy with if I was in your shoes, and it upsets me when I see others in my profession proclaiming they are offering the best service and value to their customers when clearly they are not.
That’s why I make every effort to market for the year we are in and not just get stuck in the same old rut.
I will continue to develop, test, learn and analyse new and innovative ways of adding true value to my customers and I really encourage you to join me on this amazing journey.