Category Archives for "Marketing"

Real Estate Agents: STOP Wasting Your Marketing Dollars!

Real Estate Agents: STOP Wasting Your Marketing Dollars!

You may not know this, but I actively sell real estate. I’m in the trenches with you every.single.day. Managing two businesses can get a little crazy which is why I’m vigilant about managing my marketing dollars. There is no room in the budget for anything to be wasted! And, I think every.single.one.of.you should regularly monitor your expenses to ensure you’re not wasting your marking dollars (or any other dollars, for that matter)!

ASK YOURSELF: ARE YOU USING IT?

Each month I go through ALL the expenses. The first question I ask myself is “Are we using this?” 

If the answer is NO – then go deeper. WHY NOT? 

The answer to this should give you direction.

Are you not using a service because you haven’t taken the time to set it up?

Well for crying out loud, you are a business owner. SCHEDULE THE TIME. 

Does the product/service no longer fit your business? 

That’s a sign it’s time to take action and part ways. For example, I recently realized I wasn’t using a monthly membership anymore. I had just outgrown it. There wasn’t anything wrong with it, but it wasn’t a good fit for me and my real estate business today, so it was time to cancel it. Once you realize you need to take action – schedule time to make it happen. 

ASK YOURSELF: IS THIS MAKING YOUR LIFE EASIER?

I’m totally willing to pay for convenience. If you’re paying for a product or service that’s saving you time in any way – it’s like a good investment.

But, you might want to consistently make sure that you’re still getting the best price. 

For example, I had a problem with my voicemail system. I use BetterVoice to have multiple numbers so I can route calls based on lead source. We used to rely on it heavily. But, as different lead pillars evolved we’ve made changes in the way calls are routed to us. I still use it for sign calls – every single one of our signs have a Better Voice number on it and if I cancelled the service I’d have to print new signs. Yikes! 

However, I thought the $50/month price was a little steep considering how little we use it in comparison to the past usage. After speaking with customer service to resolve the problem I was having, I asked about pricing. Turns out, they could do better. Now I only pay $20 a month. It’s a small change, but so worth it! 

Don’t be afraid to switch services for a better price. 

If Better Voice hadn’t lowered my price, I probably would have researched other services. Looks like I can get about the same thing for $10 a month through YouMail. Today, it was worth it for me to not have to change all those numbers on my signs though. Changing this service would require some time in planning and I’d have to get some ugly stickers for my signs which requires time and a little expense as well. Ultimately, it was worth it to keep everything the same and save a little with my current provider. I’ll reserve the right to change my mind on that later! 

ASK YOURSELF: IS THIS REALLY WORTH IT?

If you’ve got a membership that you’re not really using but you love the Facebook group – maybe that makes the monthly expense worth it to you. But, if you’re not using a service properly, or at all, it probably isn’t worth the expense. (And I want you to stop wasting your marketing dollars!)

But, when you ARE using a product/service you should still ask yourself if it’s really worth it. 

Especially when they raise your prices. 

Yesterday I received an email notifying me that prices are going up with my current CRM. I’ve been with them since 2012 or 2013 – a long time! My needs haven’t really changed that much over the years and the CRM still meets my expectations. They’ve done a lot to improve it and I understand why they need to increase their prices. However, I don’t really use a lot of their new technology. The more I thought about it – I liked it better before it was so updated with tons of features I don’t need or even know about. 

Are you paying for the same service twice?

Plus, I have a website that has a built in CRM. I don’t think it’s as good as my other CRM – but now I’m wondering, is it really worth $250+ MORE a month? So, if you’re like me and you have some redundant services, maybe it’s time to decide if you need them all. After all, you don’t want to waste your marketing dollars anymore than I do. 

Don’t forget to TAKE ACTION. 

No matter what you decide to do, whether it’s keeping the service but learning how to use it, or cancelling it completely – don’t forget to take action. It’s really easy to put something off to deal with later. And before you know it, you’ve paid for this product or service that you’re not using or don’t value for another 6 months! 

If you don’t already have a system in place to keep your expenses organized, you can download the exact spreadsheet I use in my real estate business. I’ve called this “Accounting is Sexy” with a pretty little pig to disguise the fact that it’s a spreadsheet. You’re welcome 🙂

Get Access Immediately:

How to Get More People to Engage With Your Posts on Social Media

How to Get More People to Engage With Your Posts on Social Media

I follow a lot of real estate agents on social media and was struck by how BORED I was seeing the same old boring listings marketed for sale. Obviously, they were different listings from different agents – but the effect was the same. And, if I’m bored, imagine how your audience that doesn’t work in real estate feels! 

So, this is the second installment of our “how not to be boring” series. This video has tips that you can easily incorporate into your listing marketing strategy on social media. It doesn’t cost anything either! (See the first installment here.)

To get the most engagement, the most likes, the most clicks, comments, conversation from all of your listing, promotion posts on social media…

you need to do this ONE thing.

So you know, if you’re posting your listings, coming soon, new listing, price reduced, those aren’t very exciting posts. You might be excited about it. But that’s about where the excitement ends.

So in order to get your audience INTERESTED in what you’re sharing and get your listing some exposure you need to TELL A STORY.

Now, I make it sound like that’s really easy.

But you actually have to put a little bit of thought into it. So what could your story be?

SELLER’S STORY

Maybe it is a story about your sellers and how they have lived in this home for 20 years. Raised their family, they went to Valley High School (go tigers!), and now they’re ready to move to the next chapter of their life. And they’re very excited to put the house on the market to find the next people to love the home as much as they did…

Pulls at the heartstrings a little bit.

AGENT’S STORY

Maybe your story is about how hard the sellers have worked to get the house ready for market. Maybe you’ve been working with them for a long time. It takes time for people to clean and declutter and stage and paint and clean – all of the things that go into listing a house for sale.

Maybe you should share the story of all of the work that you put into it because hey, it’s your social media feed. You’re the one that’s a REALTOR. And, you don’t really care about the interest in the house. You care about the interest in YOU.

So tell the story about how much effort, work, and commitment you put in with these people to help get their house sold for top dollar in today’s market!

FUTURE VISION STORY

Boring houses are the hardest houses to come up with a story.

So maybe the best story for the boring vanilla, nothing really special about it house is about this space and the vision that you have for it. You could say, “If I were to buy this house, (which by the way, it’s priced to really good!) If I were to buy this house, I would immediately renovate the fireplace and I would put in a gas insert and I would do a ledge stone from floor to ceiling. And then this room would be my favorite room in the house because it would be so warm and cozy. I wouldn’t want to spend my time anywhere else.”

Future Vision Story = What do you see for the next people owning that house?

So then next time you have a brand new listing, think about this story that you can tell on your social media feed. Instead of just posting a boring picture of the exterior of the house that says, “Hey, look at me. I’ve got a new listing. I’m a boring REALTOR.” Get them ENGAGED. Be SOCIAL with them. Make them feel an emotion. Make them laugh and smile at your quirkiness or how fun you are, or make them fall in love with the story of the house that you’re sharing with them. And, make them want that house, that story for themselves.

Maybe that’s not the right house for them. But if you do this enough on your social media feed, then your people are going to feel a connection with you. So, when the time is right, they’re going to call you to SELL their house, help them BUY a new home, or better yet give you a REFERRAL.

And if you just can’t think of anything to post, of course, grab our free social media graphics pack here.

Then, on the days that you’re uninspired and you just don’t know what else to do, you can post one of those graphics with a quick snippet and stay in touch with your current audience. We’ve got more tips and tricks on exactly how to get more engagement with your audience on social media. So SUBSCRIBE and stay tuned for more.

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Download FREE Social Media Graphics

Designed exclusively for real estate agents, we've got 20 free graphics (just like these!) that you can use to promote your real estate business on social media. Grab yours!

How to Market Your Listings on Social Media

How to Market Your Listings on Social Media

I follow a lot of real estate agents on social media and was struck by how BORED I was seeing the same old boring listings marketed for sale. Obviously, they were different listings from different agents – but the effect was the same. And, if I’m bored, imagine how your audience that doesn’t work in real estate feels! 

So, this is the first installment of our “how not to be boring” series. This video has tips that you can easily incorporate into your listing marketing strategy on social media. It doesn’t cost anything either! 

Obviously, you can market your listings on social media any way you want. But, I’m assuming that you want people to actually be interested in your posts and not pass you by. 

On their own, houses don’t usually make people stop and think, “What is this, I need to know more?” 

And, that’s exactly what you want them to do! You want them to want to know more!

Use your Instagram app to do fun boomerangs and superzooms. Add captions, use the poll feature or the questions feature are other fun ways to market your listings without being super dull and boring.

The side effect of thinking outside the box with your social media when marketing your listings is that people might actually engage you about your listings! They might ask questions, comment on your posts and even like it and SHARE! Wouldn’t that be great? 

Don’t forget, if you’re totally uninspired (or maybe you don’t have a listing to market right now) you can grab our FREE 20 graphics to use on your social media feed. 

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Download FREE Social Media Graphics

Designed exclusively for real estate agents, we've got 20 free graphics (just like these!) that you can use to promote your real estate business on social media. Grab yours!

how to market your vacant listings with virtual staging

How to Market Your Vacant Listings with Virtual Staging

How to Market Your Vacant Listings with Virtual Staging

Have you ever had a listing that is vacant and would benefit from staging but for whatever reason the cost for staging just isn’t in your budget?

One of my favorite and quite affordable solutions to this is virtual staging.

There’s probably a lot of options for virtual staging but the one I’m using is Box Brownie.

Check out these before and after photos:

BEFORE

AFTER

Living Room
Dining Room
Master Bedroom
Theater Room (Lower Level)

What was a rather vanilla looking listing is now quite interesting!

You can choose the type of style you want it done in. The photos above were in Urban Industrial style.

Another choice is if you want it neat but lived in or neat as a pin – everything in it’s place. If you notice the bed is a little messy looking – I don’t love that but it’s because I selected the neat but lived in look.

Each virtual room costs $32 to stage with Box Brownie. At a quick glance you wouldn’t know it was staged – but if you look close you can totally tell. Still, for $32 a picture it’s soooooooooo worth it!

This particular listing is $170,000. (Don’t judge, I live in the very affordable Midwest!) And, I’ve only invested $128 on staging. The sellers are impressed (their last agent had some unfortunate photos) and hopefully these photos will catch the attention of our target buyer market.

I don’t get a kickback from Box Brownie for recommending them. Seriously, I’m just so impressed with them I think all agents should know about this resource to help them up their marketing game!

**Make sure you follow any rules in your association regarding how you market virtually staged photos so you don’t get in any trouble!

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new years marketing resolution

New Year’s Marketing Resolution

Do you have New Year’s resolutions for your real estate business? If you’re not sure where to start here is one of my favorite New Year’s marketing resolutions. This resolution can (and should) be implemented every year. It doesn’t expire and always gets better.

New Year’s Marketing Resolution: Do more with your database

You’ve probably heard people say that there’s a lot of money in your database. So, as the markets tighten, and online lead costs skyrocket, focus on finding the sales that exist in your database!

What do you need to do to get this resolution working?

1. Create a database

Seriously – it’s almost 2019. If you don’t have a database yet, you need to stop everything and get your house in order! You don’t need to buy an expensive CRM (although sometimes they’re helpful). You could actually start with an excel spreadsheet. So, take a few minutes, gather your contacts and create your database.

2. Create communication plan

Now that you’ve got your database organized, you need a communication plan. How will you stay in touch with all those people? Do they all get the SAME communication or should you treat them differently? Consider how you’ll communicate (and how often) with your past clients, sphere of influence, active leads and old leads that may have fallen off your radar. Some ideas to get you started:

 3. Give value

Value is one of those things that EVERYONE talks about but is sometimes hard to identify. So, take a little time and think about the value you have to offer your database. If you’re going to incorporate value into your communication plan, maybe it looks something like this:

  • Send a weekly newsletter that includes market statistics.
  • Call your past clients every 90 days with an equity update.
  • Perhaps your sphere of influence would also appreciate an equity update – even if they’ve owned their home longer than you’ve been in real estate.
  • Connect with your database on social media by posting hyper local content and other interesting types of posts that people will engage with.  

You know that real estate is a long game.

Working your database consistently is a long game strategy. You might get quick wins here and there (which is fantastic!!) but if you don’t – please don’t be discouraged.

You’re in real estate 24/7, but most people only buy a handful of homes a lifetime.

Your goal is to remain top of mind with the people you know. So, when they are ready to buy or sell, you’re the first person they think of. But, you’re also the person they share with their network when someone mentions real estate! (Hello, referrals?!?!)

This new year’s 2019 marketing resolution to stay in touch with your database shouldn’t cost you a lot of money. It does require a little time to implement. But, investing time to deepen your relationship with the people in your database is time well spent!

We’ve got all the resources, templates and trainings you need to master the above strategies in Savvy Agent Club. If you’re not already a member, check it out.

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Grow Your Real Estate Business With a Weekly Newsletter

Grow Your Real Estate Business With a Weekly Newsletter

Grow Your Real Estate Business With a Weekly Newsletter

I had the pleasure of talking with Ricky Carruth about his weekly newsletter on a recent Facebook live. Below the video, I’ve outlined the best practices and other value bombs we talked about.

BEST PRACTICES

Some key tips are highlighted with the time we discussed. And, others are just paraphrased throughout.

00:05 – Introduction

Who Ricky is, some history on how he got to be pretty much awesome. 

5:27 – Ricky recommends sending your own newsletter – yourself.

He spends about an hour a week on his. Don’t delegate this task to an assistant because it’s just too important. Put it in your own words. And, if you can do your newsletter yourself then it will be more valuable to your audience than a newsletter subscription you might outsource. Your newsletter is an extension of yourself. It shows your audience how professional, hard working, consistent – all the things people want in an agent. Your newsletter is doing the heavy lifting for you! Plus, sending a newsletter is leveraging your time. One send stays in touch with your entire database. 

9:18 – Does the day of the week matter for when you send your newsletter?

The day of the week you send your newsletter isn’t very important. Consistently sending it every week is the important piece. 

10:50 – Should you send your own newsletter or use a subscription service that does it for you? (hint – do it yourself)

Focus on market facts vs. fluff that no one wants. People want real market facts – new listings, solds, something that helps inform them to make good decisions. Plus you don’t want to send the same automated message as the competition. 

13:40 – Your newsletter doesn’t have to be perfect.

But it will surely be perfectly YOU. 

14:13 – How do you choose your content?

Ricky plans his newsletter on a whim – he knows it needs to be ready to send out every Wednesday so he prepares it weekly and just chooses information that’s relevant to the market at that time. That helps avoid scheduled content especially if there’s some breaking news that needs to be addressed in the newsletter. Mix up a little business with a little market info and a little bit of you. Keep the self promotion to the minimum. Don’t be a bragger. 

19:20 – What do you think is your audience’s favorite type of content in your newsletter?

Ricky doesn’t think there’s ONE favorite. He includes such a variety of content that it gives everyone a reason to open the email. 

21:20 – Do you email your past clients in each weekly email?

YES. Ricky says – it’s an email – how is it bothering them? He’s very clear that this is how he does business and if you don’t like the fact that he’s doing a hell of a job, then we don’t need to do business anymore. If you don’t like the fact that I work so hard and I give you everything you need every week, then I don’t know what else I can do for you. 

22:36 – How do you link to closed homes? Is it a link on the MLS or something else? And, how do you cover a larger area with suburbs?

Ricky creates a spreadsheet that he uploads to his website. You can separate out areas by links on your website.

24:18 – What email provider do you use?

Ricky uses Constant Contact. For the size of his database he’s spending around $200 a month. You can get a free trial for 50 days or so up to 500 contacts. After that there is a monthly fee. (Savvy Agent recommends MailChimp because it’s got a forever free option for less than 2,500 contacts) 

27:08 – BombBomb

Interesting how he used BombBomb once and the open rate was terrible! Ricky believes it’s because the spam filters can detect an embedded video and automatically flag your email as spam. He switched back to his old provider immediately!

28:10 – Have you ever had to improve your open rate?

Ricky said he doesn’t care about open rates. People put too much value on open rate. There’s a lot of value in having your name appear in someone’s inbox. So, even if they don’t open your email for 2 years but then call you when they’re ready – mission accomplished. He also talks about the level of quality in your database – the more your database knows you personally, the better chances of an open rate. 

30:55 – Do you use a special opt in or just send to everyone?

He doesn’t use an opt in really, he just adds people as he talks to them and gets their email address. (If you use a CRM – you might find an email provider that will sync to your CRM. For example, I use FollowUpBoss for a CRM which syncs nicely with MailChimp.)

31:42 – Do you always have the same subject line?

Ricky always has the same subject line – {{Your Area}} Market Report {{Date}} So, his is Gulf Coast Market Report {{date}}. And, he doesn’t use emojis. AND, he never changes the subject line because it becomes expected, like a part of your brand, and people appreciate consistency. 

33:39 – Final thoughts.

Be consistent. Pick a day and commit to sending that email each week for the rest of your life. As you go along you might change your newsletter format and there’s nothing wrong with that. But, always send each week. He thinks that sending once a month, or even bi-monthly, might make you seem like a part time agent. And when you send good quality content then weekly newsletters aren’t too frequent. 

Join Savvy Agent Club for more information and step by step instructions on how to create your own newsletter to nurture your database and prove on a weekly basis that you're the hardest working agent in town!

better facebook ads strategy

Real Estate Agents Need a Better Facebook Ads Strategy

Real Estate Agents Need a Better Facebook Ads Strategy

This was a Facebook Live video done on the Savvy Agent FB page

Some background:

So, I was on a call with a couple of agents earlier this week and they’re spending pretty decent money with Facebook doing some lead generation ads, I assume, or I guess I shouldn’t assume because it sounded like they didn’t really know what they were doing. One of the real estate agents said, “Well, how do I know if my ads are working? I’m spending $1500 a month, how do I know if it’s working?”

There are many different answers to that question.

This particular person had a marketing person that was in charge of that. The answer for her was, “You need to go to your marketing person and have them explain what the strategy is and if it’s working.”

Personally, I don’t spend $1500 a month on Facebook ads. Actually, I have three or four ads running right now, just promoting listings. It’s a really simple strategy. In the last seven days, I’ve gotten 97 leads and I’ve spent $58.65. That’s pretty good return for the money spent.

But my strategy on that ad is very simple. The ad is basically exactly what I wrote on the MLS listing and it takes them to my IDX website. So, when the visitor is on my website, if they look at more than one picture, it forces them to register. Forced registration and I have their contact info!

Never spend money for someone to go nowhere.

In order for that ad to be profitable, and for me to say, “Yes, my Facebook ads are working,” then I need to get something for that ad.

Before you start any ad campaign, you need to know what you want in the end.

  • Do you want to get people to go to your website?
  • What do you want them to do once they’re on your website?
  • Do you want them to join a buyers group that you have on Facebook?
  • Do you want them to download a guide?
  • What is your ultimate goal?

In this example, my goal was super simple: I want leads on my listings for my team to work.

But, the other agent that we were talking to said, “Well, you know, I do videos, I do this, that, blah, blah, blah.” (Blah’s inserted to abbreviate the conversation.)

Also, she wasn’t really sure of what her overall strategy was. I said, “Oh my God, you have got to stop.” And then I drew a terrible picture. And that terrible picture looked, well, frankly, like female anatomy. It looked like Fallopian tubes!

In the video above, I pre-drew the picture so it’s a much better drawing. This is essentially a funnel: 

Better Facebook Ads Strategy

Not to be confused with a funnel cake, but it’s a SALES funnel.

A sales funnel is essentially the process of you getting strangers into your sales funnel and moving them down the sales pipeline to ultimately buying real estate. This sales funnel is going to be what helps you have a better Facebook ads strategy. It works for all advertising strategies too – not just Facebook ads. 

For example, think of strangers being above the sales funnel. All the people in the world that don’t know you are outside the top of your funnel. So, maybe you upload a real estate video to your Facebook business page.

You want people to watch the video because you want to show them that you’re amazing, naturally. In this example, you would target cold traffic to get people INTO the top of your sales funnel. And, because the people who already know you deserve a different message, right? It’s all in the strategy.

What do you do with someone once they watch a video?

Well, you don’t just forget them. You want them in a video views audience. Then you can serve them another ad after they watch the video. 

And that’s how it goes. You serve another ad to that audience and move them further down the funnel. The whole point is to get strangers into your sales funnel (or what I like to call the circle of trust) and the people interested in doing business with are pushed to the bottom of the sales funnel when they make a purchase. The funnel gets smaller toward the bottom because not every person that gets into your funnel is going to turn into a sale.

And, it’s possible that someone who enters your funnel in 2018 might buy or sell a house with you in 2022. But, you have to have a good strategy to stay at the top of their mind for when they’re ready to do business with you.  

A simple sales funnel example:

Ad 1 – Serve your video as an ad to a cold audience (strangers).

Ad 2 – Then, anyone that watched at least 25% of your video you’re going to serve them a home value ad.

So, if they watch 25% of your initial real estate video, then that might be a sign they’re pretty interested in real estate. Then you want to serve them a very specific ad that has the opportunity for them to take action. In this case we used a home value ad. Once they register with your home value ad – you’ve got their contact info and you’ll work them until they sell! (Or at least put them on a drip campaign.)

This is a pay to play world.

Be strategic with your sales funnel and how you’re going to get them further down the pipeline. Now, of course, not everybody’s going to make it to the bottom of the funnel, so that’s why it gets a little bit smaller, but you can get so much more targeted as you get closer to this buying decision part of the funnel. Once you have this strategy in place, then you can actually say with confidence whether or not you know if you Facebook ads are working.

Today, I have a very simple strategy because I was too lazy to set up a complicated funnel. And well, frankly, maybe it’s not even me being lazy. Maybe it’s just that I’m so darn busy, all I had time for was to throw up those ads.

I want leads on my listings.

Just like you and every other real estate agent out there. And there is nothing wrong with that. It’s effective. I can say that 97 leads for less than $60 in seven days is worth the money.

Before you give Facebook any more money… actually, this rule actually applies for everything.

Before you give Google AdWords money…

Before you give ANY VENDOR any money, make sure you know what you want in return for that money. And then you have something to judge the performance by. You have your baseline expectation and with a little more experience, you’ll have cost per lead, cost per sale, you’ll figure all of those things out. 

The very basic minimum thing that you have to have…

…is a strategy of what you want to happen. Then, you can grade your performance and know ultimately if that money is worth your time or not. You can get a lot more advanced and nerdy about the numbers later, but please: If you don’t know if your ads are working, STOP.

Stop spending that money right now or talk to the marketing person who’s in charge of those ads. Somebody knows. And if that somebody is supposed to be you, shut the ads down and think through it, look at the numbers. You’re a business owner and you deserve to know that your money is being spent wisely so that you know if you should spend more of it or not.

We teach a lot about funnels in Savvy Agent Club. But, if you make sure you have a STRATEGY before spending any advertising dollars, that’s half the battle right there.

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free real estate leads

Get Free Real Estate Leads with Customer Reviews

Get Free Real Estate Leads with Customer Reviews!

Love it or hate it, people are visiting Zillow when they’re in the research phase of their real estate journey. They might be scoping their competition, or they might be looking for an agent. If you don’t have a presence on Zillow, you’re missing out on the potential of getting FREE real estate leads. 

Reasons why I think everyone should collect reviews on their Zillow profile: 

  1. It’s FREE! You don’t have to be a Premier Agent or pay Zillow any money to have reviews.
  2. Zillow is going to get more website visitors than your website, so why not capitalize it?
  3. People will message you directly because they loved your reviews. (Hello, FREE real estate leads?!?!) 
  4. Your competition probably isn’t going to put as much effort into it as you, so you’ll have an edge. 

 
You can, and should, get reviews from these types of clients:

  1. Past clients
  2. People that bought FSBO or some other way without you
  3. People that you showed properties to, but decided not to make a move
  4. Your friends that benefited from your free real estate advice

 
And, if you can think of anyone else, you should totally ask for a review! 
 

Maybe you’ve gotten out of touch with your database. 

Why not re-engage with them with a “hey, I was in your neighborhood the other day and thought of you” message? Then, when they respond, ask for the review. This is a double win because you’re reminding someone you once worked with how amazing you are, and then when you get a review, perfect strangers will also see how awesome you are. Which results in FREE real estate leads. (Isn’t that awesome?)
 

Make getting a review part of your closing system.

We talk about reviews at the very beginning of our relationship with people so they know that this ask is coming at the end. And, when you time it right, they’re usually quite happy to write a glowing review. 

But, does it have to be Zillow? 

You can collect reviews on other sites like Facebook, Google, and I’m sure many others. The key is to get the reviews – and get a lot of them. It’s best if they’re housed somewhere that gets a lot of real estate traffic already so you can get some traction with your reviews. Having the most reviews on www.yourname.com isn’t going to help when you get 7 website visits a month. 

Recycle those reviews!

Finally, you can always copy/paste the reviews you’ve received on Zillow (or any other site) to your own website. So, no matter how someone gets to your website, you’ve got the social proof of your awesomeness at their fingertips! Often times those free real estate leads are going to research the heck out of you so having a solid website in addition to awesome reviews is going to give them more incentive to contact you. 
 
How many reviews do you have today?

Why not set a goal to get 25 more reviews by the end of 2018? 

You can totally do it!

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Using Feng Shui to Sell Your Listings

Using Feng Shui to Sell Your Listings

When you’re at your wits end…

…with a listing that just will not sell, no matter what you do then this post is for you. Ivy Ellerby of Feng Shui It! shared her tips on using feng shui to sell your listings. 

You won’t be surprised to know that her top tips include de-clutter, de-clutter, de-clutter, and CLEAN. 

But, sometimes it’s not a clutter/clean situation. Sometimes you need to address the energy of the home. And, that’s where feng shui can make a difference! 

BONUS!

Mention you watched this video on Savvy Agent and get a FREE 20 minute consultation from Ivy. Contact her HERE.

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Why Every Real Estate Agent MUST Know Their ROI

Why Every Real Estate Agent MUST Know Their ROI

Why Every Real Estate Agent Must Know Their ROI

 

Are you wasting your advertising dollars?

Do you even know?

When was the last time you checked your ROI?

If this is your first time here, Hi <img draggable= I’m Heather with Savvy Agent. Running your real estate business LIKE a business owner is really important to me. So, let’s take a second and talk about return on investment, which is what ROI stands for.

If you’re spending any money on your real estate business, it’s important for you to evaluate your ROI periodically.

Are you getting the value for the money that you’re spending? If you’re spending a significant amount of money, like on advertising dollars, well that value translates into return on investment, or ROI.

The reason I’m bringing this up is because my friends at Zillow, are making a lot of changes to the Premier Agent program. That has a lot of agents sort of up in arms thinking, “Oh my gosh. You know, things are changing. Is this going to be worth my money? We get fewer leads now than we did five years ago.” So on and so forth.

It’s certainly not a moment to be bashing on Zillow. (Don’t take this the wrong way.) But, it’s just smart business owners saying, “Hey, I pay this company money, and I want to make sure that I am making a return on my investment.”

So, how do you figure out your ROI?

Well, you take your net profit, divide by your total investment, times 100. And, you’ll get a number that represents your ROI percentage.

For example, let’s say you spend $1,000 a month on a lead source. That means for nine months this year you would have spent $9,000. And let’s say you have seven sales with a gross commission year to date of $36,750, but your broker has a split arrangement with you where your broker takes 15% of your gross commission, leaving you with $31,238.

(If you’re a team leader, at this point, you would also take out your buyer agent split, because that comes from your bottom line.)

But for this example, we’re a single agent and $31,238 is our net commission. We take that divided by $9,000 (our total investment in the lead source) and take the 3.47 result times 100 to get 347% ROI.

Personally, I like to work with that 3.47 number because I know for every dollar I spend I’m going to make almost three and a half dollars on this lead source, and that’s my ROI, 3.5X. (I rounded up there, you see?)

Once you’ve figured out the ROI for your lead pillars for the advertising dollars you’re spending, then it’s time to make important business decisions.

Are you getting the value that you expected to get?

Is it time to cancel?

Do you need to call your rep to say, “Hey, this is not what I expected it to be. What’s going wrong? How can I fix this?”

Maybe your rep can give you tips on how to convert the leads better, get more leads, or nurture them.

Perhaps you have systems that could use improvement. 

Are you actually following up on those leads? If not, why invest in the first place?

So, that’s how you calculate your ROI.

Take all of that into consideration as you make smart business decisions on whether or not you should continue spending your advertising dollars the way you currently are or if you should invest more, invest less, or invest in something else.

And if tracking your sales and tracking your expenses is not something you’re currently doing, so when you watch this video, you’re like, “What? How am I supposed to do any of that?” that’s okay. I have a freebie right here so you can access my very favorite numbers tracker spreadsheet, which will help you get on the fast track to better accounting.

It’s actually a course in Savvy Agent Club called Accounting is Sexy. So, just think of that as you’re tracking your numbers and counting your money, because accounting is sexy, because money is sexy.

And when you don’t have money because you’ve made poor business decisions by wasting advertising dollars because you didn’t track your ROI, well, that is definitely not sexy at all. So, download that freebie. If you have any questions, you can comment on this post or you can email me, heather@savvyagent.co. Thanks for tuning in, I hope you have a profitable rest of your day!

 

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