Advice for Realtors From Realtors
by Toby A. Welch
Copyright 2011 Toby A. Welch
Smashwords Edition
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Smashwords Edition, License Notes
This e-book is licensed for your personal enjoyment only. This e-book may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.
Cover art by AgnosticPreachersKid
Over one hundred Realtors and Brokers have given their input on all aspects of the real estate industry for this book. Learn from some of the best how to deal with a myriad of real estate topics. Subjects touched on include creating a catchy slogan, innovative marketing ideas, blogging, vehicle advertising, nightmare neighbours, staging the garage, the St. Joseph statue, open houses, selling houses with pets, real estate trade shows, house humping, online leads, previewing houses, having an assistant, niche selling, firing clients, door to door prospecting, independent versus franchise firms, keeping past clients loyal, reducing commission rates for loved ones, using road time wisely, mentors, how to succeed in real estate, balancing real estate and family, driving clients around, movies featuring Realtors, what to do when loved ones don’t use your services, and over a dozen other topics.
Table of Contents:
Marketing and Advertising Issues
DEALING WITH CLIENTS
Firing Clients From Hell – How to cut ties with nightmare clients.
Keep Your Past Clients Loyal - Are you using your past clients as effectively as you could be?
How to Deal With Difficult Clients – Some clients make their Realtor’s lives sheer hell.
Beyond the Gift Basket - How to make an impact when thanking your clients.
MARKETING AND ADVERTISING ISSUES
Buy a House, Get a Glock! - Innovative marketing ideas are necessary to draw attention to a listing in tough real estate markets.
Do You Have a Catchy Slogan? – You need the right slogan or tagline to capture people’s attention.
To Blog or Not to Blog? – Is blogging is the newest marketing weapon available to Realtors?
Moving Billboard - Should Realtors put their name, real estate affiliation, and contact information on their vehicle?
DRIVING ISSUES
Working on the Road – Realtors spend a lot of time in their vehicles; make the most of yours.
Does Being a Realtor Mean You are a Chauffeur? - Should Realtors drive their clients around to showings or should clients drive themselves?
CHALLENGES OF SELLING HOUSES
Nightmare Neighbours Make Home Selling Challenging – A neighbour’s house can reflect negatively on the attempted sale of a home.
Don't Forget to Stage the Garage - The perfect garage is a marriage of functionality and aesthetics.
Sellers Seeking Divine Intervention – Can the St. Joseph statue help a home sell?
Selling With Spot and Kitty – How to sell homes with pets underfoot.
DEVELOPING AS A REALTOR
Would You Benefit From Having a Mentor? – How mentors can help a Realtors career.
Do You Need A Mid-Year Goal Review? - The majority of Realtors set goals and summertime is the perfect time to assess how you are progressing.
PERSONAL SIDE OF REAL ESTATE
Juggling Real Estate and Family - Balancing real estate and family life can be tough for Realtors.
BUSINESS SIDE OF REAL ESTATE
Do You Need a Helping Hand? – Would having an assistant allow you to close more deals?
Slashing Prices for Loved Ones – Should you reduce your commission rates for friends and family?
You’ve Got Mail – How to use e-mail more effectively.
Get Back to Work - The holidays have come and gone; give yourself a kick in the behind to get back in the work groove.
REAL ESTATE ADVICE
Letter to Myself – What would you tell your younger self about how to succeed in the industry?
Passed Over for Another - It’s bound to happen; a friend or family member will use someone else to buy or sell their house.
Leave Last Year in Your Dust – How to have your best year ever in real estate.
Why Real Estate Agents Fail - 75% of Realtors fail within the first five years; do what you can to avoid being one of them.
CLIENT ACQUISITION
Knock Knock; Door to Door Prospecting - Is going door to door to sell real estate an option for you?
Online Leads – Burden or Gold Mine? – How to turn online leads into quality leads.
SELLING REAL ESTATE
Do You Need a Niche? – Would specializing in one area of real estate be advantageous for you?
Kick Your Open House Up a Notch! – Make your next open house outstanding.
Realtor Reconnaissance - Should Realtors preview houses before taking their clients to view them?
REAL ESTATE FIRMS
Size Does Matter - The scoop on working for an independent real estate firm.
Team vs. Solo Realtors – Is it better to be a Realtor on your own or to be a member of a team?
ISSUES IN REAL ESTATE TODAY
House Humping - The latest trend in real estate?
Real Estate Board Trade Shows – Good Idea?
The Past 20 Years in Real Estate – A lot has changed in real estate over the past two decades.
Best Things about Working in Real Estate in Canada Today – What Realtors love most about working in real estate.
IMAGE OF REALTORS
How to Present a Professional Image - A good first impression is essential in the real estate industry.
Promoting the Public Image of Realtors - Real estate boards and associations are going all out to promote Realtors.
JUST FOR FUN!
Reeltor Flicks – Movies about real estate.
DEALING WITH CLIENTS
Firing Clients From Hell
How to cut the ties with nightmare clients.
If you stay in real estate long enough, chances are you’ll have to fire a client. Whether it’s a buyer who will never find the perfect house or the seller who refuses to list his home at a price point even remotely close to where it will sell, one day you will want to sever the relationship. Or maybe you’ll need to say sayonara due to a personality clash. Or your client is a real estate know-it-all and won’t listen to reason.
As Ian Watt, a Vancouver Realtor with Sutton West Coast, shared on his blog, “Today was an interesting day because I fired two clients. I kind of feel bad for doing so but the thing is, when you get to a certain level, you want to just work with the people you want to work with. An extra five or ten thousand dollars at the end of the year is not going to make or break my year. One guy had his place listed with another Realtor and it didn’t sell. I took over the listing and it didn’t sell. Halfway through the listing, he wanted to increase the price by ten per cent. If it didn’t sell at the lower price, why would a ten per cent INCREASE in the price make a difference? It’s not worth my time, energy, or my money to market this property anymore so I basically just said, “Thank you very much. It’s time for you to find a new Realtor.”
Watt tells what happened with the buyer he fired the same day. “The client I fired is stats oriented (and that’s great as some people are just that way.) Engineers, accountants, and such need a lot of information. I guess I’m not the right Realtor for them. Finding the right Realtor is like finding the right doctor, lawyer, or hairdresser. Anyone can do the job but you want to find the guy you have confidence in and you have the right fit for. To tell you the truth, I’m not a great fit for that guy so I referred him off to my mentor, the guy who trained me when I first got into the business. I can’t waste time with people that I don’t connect with or that don’t understand the way I do this business.”
It is vital for your sanity and reputation to get rid of a client before you start having fantasies about wrapping your hands around his throat and throttling him. How do you know when it is time? Here are a few telltale signs:
You get worked up talking to the client.
You know you will never be able to find a middle ground in your disagreements.
Your client calls and you don’t pick up or, if you answer, you do it with a heavy heart.
Your client does not do what you repeatedly ask of him.
You can no longer make impartial decisions regarding your client.
Lines of communication have broken down.
Your client expects you to be ‘on call’ for him 24 hours a day and your relationship is exhausting.
Your client is questioning your integrity or is lying to you.
Your client is adamant you do something that goes against your moral code.
Your client is driving you crazy and it’s taking a toll on your sanity.
Breaking up is never pleasant but it is sometimes necessary. Go into the discussion rationally and professionally and without emotion. Keep the end goal in mind – to sever the relationship with the least amount of damage. Keep the accusations and profanity to a minimum. You can offer to refer the client to another Realtor you feel they may be better suited to work with. Before you part, wish the client good luck and leave the situation amicably even if you still want to throttle him. If the client doesn’t agree with you and wants to continue working together, stick with your decision no matter how much he tries to convince you otherwise. There’s a reason you are having this discussion to begin with!
Although you’ll want to get out your frustrations, resist venting about the client to colleagues. Not only does it increase your risk of a slander or defamation lawsuit, it also makes you look bad.
Watt has some thoughts on this topic, “Our time as Realtors is very limited. We can’t be everywhere, with every client at every moment. It’s very important to understand that working with clients who are wasting your time are also taking away from the ability to work with less high-maintenance clients, those who are serious about putting pen to paper. We have to remember we can’t be all things to all people, and we can’t all be a perfect fit for every person - if that were the case we’d never see divorce in our society. I think when firing a client, you just have to be honest and explain that you (the Realtor) are not the right fit for the client and then refer them off to another Realtor. Furthermore, if there is strain on the client/Realtor relationship, this experience will result in just one sale, no repeat business, and no referrals.”
Watt continues, “It may be a little bit cocky but when you get to a certain level, it’s nice to be able to pick and choose your clients just like they pick and choose their Realtor.”
Keep Your Past Clients Loyal
Are you using your past clients as effectively as you could be?
Most Realtors send out a newsletter, a yearly calendar, or e-mail updates to past clients. But are you using your past clients as effectively as you could be?
David Hale, Broker of Keller Williams Realty in Victoria, B.C., shares his thoughts on past clients, “Past clients are a large part of my business and although I spend a considerable amount of time, effort, and money on them, I still need to do a better job of staying connected with them. I have been very careful to make them feel cared for, and my client care department is very skilled with their communications, letting past clients know that we really do appreciate their business in the past and that referrals are our lifeline.”
Before you can effectively mine your past clients to ensure future business, you need an effective system for keeping track of clients. Whether you use a notebook, index cards, or a computer contact database management program, make sure it is the most practical for you. It should be simple and not very time consuming.
Peter With, a Realtor with Re/Max Realty Enterprises Inc. in Mississauga, Ontario, uses computer contact management systems to stay in touch. “I use data specific to the client, to flag reminders of a number of activities such as anniversaries, birthdays, family events, and so on. Nothing slips through the cracks.”
Dan Gies, Broker of Ken Gies Real Estate Ltd. in Hamilton, Ontario, uses a different system. "I have to admit that I am a little old school. I have my mailing list of past clients stored on a thumb drive but my file folders in my desk are what I work with on a regular basis. It gets updated as soon as I establish a new client. I think what makes it most effective for me is that it is right at my fingertips as I am completing the initial paper work for a new client.”
What about phone calls? Hale feels, “Touching clients with a phone call is one of the best ways to communicate you care and a wonderful opportunity to ask for referrals. I use Top Producer to record my conversations with clients so it’s easier to remember the last conversation we had. The time from 9:00 a.m. to 11:00 a.m. is time put aside for prospecting time and is the best time to make those past client touches and ask for new business. I try to keep top of mind that people who have had a good experience with me in the past are the ones most likely to provide a good referral for future business.”
Beyond newsletters and calendars, what do the above Realtors do to connect with former clients?
Wilf Stark: I send e-mails from time to time with pertinent or interesting info - not always real estate related. I will also call them up (not as often as I should) just to say 'hi'.
David Hale: Some of the things we do for clients on closing are wine, flowers, and gift certificates. After that, within a few weeks we will send out popcorn and a gift certificate to Blockbusters with a note – now that you’ve settled in, sit back, relax.
We are using Send Out Cards now as a client follow up and we use the Dave Beeson letter writing campaign which has 7 years of letters for past clients. Our electronic newsletter is sent out monthly and we are collecting birthdates so we can be on top of sending out birthday and anniversary cards on schedule. The Keller Williams client touch program believes in touching the past client 33 times. At present we do our best to provide 12 touches with newsletters, 1 birthday, 1 anniversary, 4 casual mail touches for the seasons, and 1 calendar for a total of 19 or 20 touches a year.
Dan Gies: I do still believe that the calendar/newsletter concept is still effective, but I also believe that you have to be more creative today and try to differentiate yourself. I now send greeting cards out to my past clients. I can do my entire client list and send them a “welcome fall” type of card or contact one at a time by using a “1st anniversary in their home” card. The options are as open as your imagination and you don’t always have the cost of sending a mailing out to your entire client list all at once.
Peter With: I give gifts for newly born grandchildren. Schmooze the children of former clients, especially with a small gift for their newborn, and you’re the guy they call when it comes time to buy. These grandchildren have parents that are buying and selling homes faster than the baby boomers. It is a source of business that I had not anticipated having at this stage of my career. The kids of previous clients are more than happy to place their trust in you, as their parents have in the past. Age is not a factor. And they have lots of friends too! Former clients love receiving monthly market updates and area sales to their inbox.
When a past client refers you to someone, Realtors often send a thank you card or a small gift of appreciation. Others don’t. Wilf Stark, a Realtor for Calgary and surrounding area with Alberta Independent Realty Ltd. has mixed emotions about that. “I do it rarely and only when my judgment indicates that it will be appreciated and not misunderstood. Since I have no problems referring others to good mechanics, car dealers, plumbers, electricians, home handypersons, etc. without expecting or getting a 'thank you', I continue to harbour the hope that my clients will feel likewise about me when telling their friends and acquaintances about the quality of my services. So far, I have not been disappointed so I'll continue in this vein.”
According to Dan Gies, “Taking the time to have your past client information up to date and having a plan and schedule to carry out your plan will certainly save you some time and ensure that you keep in touch with your very important asset, your past clients.”
How to Deal With Difficult Clients
Some clients make their Realtor’s lives sheer hell.
There are two types of Realtors – ones who have dealt with nightmarish clients and ones who have yet to experience a difficult client. From the buyer who finds something wrong with every house you show him to the seller who demands to see you every day, high-maintenance clients can be a nightmare. Nothing you do makes them happy. They call you relentlessly. They are rude beyond belief. They truly believe that they are the most important person in your life. Besides wrapping your hands around their neck, how can you handle those difficult clients?
Keeping in mind that bad clients happen to good people, cut yourself a bit of slack. Hold on to your sense of humour and laugh at the client’s little annoyances. Listen to your client’s concerns and make sure the problems are not a result of your own perceptions. Even when the client is driving you nuts, try to see their point of view. Their repeated calls or unreasonable demands may be a result of something in their lives that you are not aware of.
The most common type of difficult clients Realtors encounter include:
The Know-It-All – this guy knows more about real estate than you ever will and lets you know it every chance he gets.
The Control Freak – this client needs to know every detail of everything going on that is even remotely related to her.
The Worry Wart – this lady frets about everything and calls you dozens of times a day to discuss her concerns.
The Hearing Impaired – she never listens to the words that come out of your mouth and blames you for not keeping her informed.
The Hand Shaker – reluctant to sign any documents, this client considers a verbal agreement good enough.
The Commitment Phobe – he is so indecisive and wallows for days on every decision; if he buys a house in the next five years, you’ll be shocked.
The Interior Designer – this lady loves to look at houses and uses you to chauffeur her around to get ideas; she will never buy a home as she has one she is presently decorating.
Difficult clients are not just annoying. Their negative ramifications are far reaching:
Like good clients who speak highly of you and refer you to others, bad clients bash your reputation every chance they get. This can be devastating to your business.
They drain your energy and eat up your time, leaving less of both for the rest of your clients.
They sap your resources.
They decrease your overall effectiveness with colleagues as well as loved ones.
They can leave you doubting your own abilities.
They keep you from prospecting for more lucrative and enjoyable opportunities.
Believe it or not, your client may have no idea that they are driving you bonkers. By keeping quiet, you are contributing to the problem. Make an appointment with the client to chat about the expectations you both have. Don’t throw the issue at them when you are driving to a home showing. Many clients will be willing to work with you to make both of your lives easier and succeed together in their real estate goals.
Stay calm in your dealings with difficult clients. Getting into an argument or losing control of yourself will only make matters worse. Be optimistic and encouraging to reduce your client’s frustration. Take responsibility for your part in the situation. But be sure to cover your assets. Keep records of all your dealings with the client and document the steps you have taken to address their concerns.
What if you’ve tried reasoning with your difficult client and things continue to get worse? You’re mentally done. You’ve had all you can take of John Smith or Jane Doe, client from hell. Your life and your sanity are being threatened. More energy is going into this client than you will ever receive. How do you “fire” him?
Most importantly, remain professional. Don’t lose sight of the fact that you are an independent professional. You have the choice to let demanding clients control your business life or take control and improve the quality of your work. Be respectful (hard, yes, when they don’t respect you) yet firm in your decision to “let them go.”
Point out why your decision is the best one for them; it’s okay if the logic is a bit of a stretch. “I don’t think I am the best Realtor for you, considering the commission you are willing to pay.” Or try “I understand you like personalized attention. Unfortunately, with my schedule these days, I won’t be able to give you the time you would like.”
Whenever possible, offer an easy out for the client so he or she can save face. Subconsciously they’ll think more of you and won’t leave the relationship with hard feelings. If they create a scene when you are “letting them go”, stay calm and breathe deep. Keep your demeanour professional – you can vent your own frustrations later. Hold your ground and reiterate your point.
Someone new to the real estate industry or a Realtor who is experiencing a lull in their own business may be willing to take on your difficult client. If you can give your soon-to-be ex-client the name of another potential Realtor to consider, they may leave you happier than you dared to anticipate. Try not to leave them in the lurch.
Most clients will fight to keep you, especially if they have been successful in railroading you so far. But don’t forget that your sanity is being threatened. By getting rid of difficult clients, you will not be richer but you will be a lot happier.
Above all, remain professional. Try not to give the client any more reasons to drag your name through the mud.
Of course if the client is asking you to do something illegal or unethical, say no and immediately walk away.
No matter how bad a client is, remember there will be a time that he or she is a distant memory and you’ll be a better person for having dealt with him or her. And, as the saying goes, what doesn’t kill you makes you stronger.
Beyond the Gift Basket
How to make an impact when thanking your clients
Last winter a Calgary Realtor sold a multi-million dollar property to an entrepreneur. While she usually follows up with pizza and beer on move-in day, she knew the gesture would be unappreciated by this particular gentleman. So the Realtor did a little investigating and discovered her client is a philanthropist. She unearthed his favourite charity and made a sizable donation in his name. A week later the Realtor received a call from the stunned client who said he would never forget her generosity.
When thanking clients, it is essential to customize your gratitude. Someone who only takes showers won’t appreciate a bubble-bath kit. A non-golfer will give away a box of golf balls. A bottle of wine might mortify a recovering alcoholic. The best tokens of appreciation are ones that are tailored to the individual. The more personalized your gift is, the more memorable you will be. And the more apt they will be to call you when they need a Realtor.
How do you find the perfect gift? It starts when you are driving clients around looking at properties or holding an Open House at their residence. Subtly ask questions to find out their interests and hobbies. Pay attention to what they say during casual conversations. Start a file on each client and make notes of gift ideas and special days in their lives. Include birthdays, anniversaries, information about their families and pets, and other pertinent data. And never assume they will like or dislike anything based on their gender.
Kimberley Collins, a sales representative with Prudential LeClair & Associates Realty in Barrie, Ontario, said, “My "gift basket" so-to-speak is a bottle of Dom Perignon and some champagne glasses. Let's face it, after all the ups and downs and ins and outs of a real estate deal, we are all ready to sit back and celebrate with a bottle of something VERY special.”
When you are showing appreciation that is intended solely for the client, skip the brand name gifts. No travel coffee mug embossed with your name or calendar with your name splashed all over it. There is a time and a place for those items but it’s not when you are giving heartfelt thanks.
Sincere handwritten thank you cards are an important tool in your client satisfaction arsenal. The team of Bill Blasko and Leanne Larsen, real estate agents with Century 21 Grande Prairie Realty Inc. in Alberta, always send a personalized handwritten thank you card. “I believe we do not say thank you enough to others. I also send a thank you to Realtors who I have done a transaction with and also builder’s reps.” In this age where everyone e-mails, a snail mail card is a great way to be remembered.
While it is great to send out holiday cards, this is the time your clients receive the most mail and your greeting card may not inspire much thought. How about sending out St. Patrick’s Day cards or Thanksgiving cards (a great time to show your “thanks”)? And birthday cards, especially the rare snail mail kind, are always appreciated.
Client appreciation events are a great way to show clients how grateful you are for them. For many Realtors, a summer BBQ or a holiday party in December is a regular event. But why not make the event more spectacular? Take the ladies for a spa night. Or take everyone for a round of golf or to a baseball game. Some people would love a night at the casino. Considering your clients when planning an event can increase client loyalty and produce more referrals. And with the cost of finding new business being five times greater than the cost of keeping current clients, this is time and money well spent.
Here are some ideas to get you started on those extra-special tokens of appreciation for your clients:
Tickets to the zoo or children’s museum for a client looking to keep their little ones occupied.
A book you are sure the client would enjoy reading.
Hand-deliver a birthday cake on their big day.
Call your client when they least expect it just to say hello.
A diaper-service gift certificate for new parents.
A framed photo of your client’s new home.
Send a card to commemorate the one-year anniversary of their home purchase. Or two year anniversary. Or three.
A gift certificate to their favourite restaurant.
Send your clients a postcard when you leave town. Imagine their surprise when they check their mail!
Send a sincere note when you aren’t buying or selling a house for clients to thank them for their past commitment.
Consider making extra-special thank yous a part of your overall marketing plan.
MARKETING AND ADVERTISING ISSUES
Buy a House, Get a Glock!
Innovative marketing ideas are necessary to draw attention to a listing in tough real estate markets.
An often-used tactic is to offer freebies to buyers. From flat screen TVs to boats, cars, vacations, and shopping sprees, sellers are doing whatever they can to get that SOLD sticker on their front yard. Everyone loves to get something for free but do the incentives work?
A desperate East York, Ontario, home seller wasn’t having much luck selling his $379,000 detached two-storey house so he decided to throw in a $15,000 car to sweeten the deal. The Realtor and the property gained from the increased exposure but ultimately the house didn’t sell with the car; the seller had to lower the price and remove the vehicle incentive to move the property.
Penny Naldrett, a Realtor with Sutton Centre Realty in Burnaby, B.C., had buyers that offered an incentive, “The sellers owned the gym on Bowen Island. They offered two annual memberships to the buyers of their home. I don't think it was the deal maker/breaker but it certainly gave them good exposure for their new business and the buyers enjoyed the perk.”
Lisa Salt has never used these types of incentives. The 17-year veteran Realtor with Re/Max Vernon in Vernon, B.C., explains, “I find a price reduction is the best answer to a property that isn't selling. I would much rather see the seller reduce the price than throw in incentives unless it is something they don't want.”
A lot of Realtors agree that the selling price is the bottom line. Some buyers are scraping together every penny they can find to purchase a home and could care less about a fantasy vacation. They would rather have a lower purchase price than a price that masks the cost of sending the buyers on vacation.
Naldrett makes an interesting observation; incentives are used a lot more in the United States. “I used to sell real estate in Naples, Florida. Down in the States it was much more prevalent to offer a bonus to the buyer’s agent than I have seen up here in Canada. My clients offered a $10,000 cash bonus on a $3.6 million sale. The house did not sell and expired at the end of its term. I remember one house that had a Bentley as the bonus to the sale.”
No matter what incentive the sellers plan to offer, make sure it’s all on the up and up. Suzanne Anderson, a Realtor with Re/Max Fort McMurray in Fort McMurray, Alberta, points out, “A Realtor offering incentives for buyers to buy or sellers to sell their home has to be done through a Real Estate Brokerage with the Broker's approval, with whom they are associated; these are RECA Rules. The seller can offer any incentives direct to the purchaser, through the brokerage. We cannot advertise any incentives to the public, unless it is approved through our brokerage, or approved by the seller, and any terms or conditions attached to these incentives must be disclosed to potential buyers.”
Anderson continues, “Both parties, either a willing buyer willing to buy or willing seller willing to sell, set the stage as to what homes sell for at the end of the day, by what they negotiate or agree on. A lot of times it doesn't matter what incentives are offered, a buyer will decide on the basis of if he likes it or if his needs can be met with the purchase of this home. On the other hand, a seller will decide if he still wants to accept the offer and still provide an incentive, if applicable, depending on the deal negotiated between both parties.”
When offering incentives, check with your Broker to find out how to do it properly. If you have any additional questions, the Canadian Real Estate Association recommends you check with your provincial real estate association or council.
There are three instances when incentives may be especially helpful:
When a home is listed in order to distinguish it from the competition.
When a home has been on the market for a number of months and sellers don’t want to lower the cost but need to get buyers interested.
During negotiations when the buyer needs a nudge to get the deal closed.
As Naldrett pointed out, in the U.S. the use of incentives is more commonplace. Here are some examples of this practice:
A Realtor in Texas offers a Glock pistol with the purchase of any home from her. Although you don’t need a license to own a handgun in Texas, this offer is only valid for people in law enforcement.
A Realtor in Rhode Island tailors the incentive to the house he is selling. In the past he has offered landscaping services for a year and a free bathroom renovation.
One North Carolina brokerage offers free lodging for out of town buyers who are in town to look at properties.
Some U.S. Realtors even offer incentives to entice people to look at a property. One Rhode Island Realtor gave 30 days worth of free groceries to anyone who looks at his property. A Realtor in Georgia offered the first 200 people who became a fan of his Facebook page a $10 Starbucks gift card.
In 2009, a Realtor in Newmarket, Ontario, was trying to sell a number of new homes but couldn’t unload the properties in a slow market. She offered to throw in a 2010 KIA sedan, a vehicle with a $15,000 value, with the purchase of a home. No one took her up on the offer, preferring to get rebates instead, but the incentive got more potential customers through the door. Another Realtor in Ontario was offering a free parking stall (in some cases a $35,000 value) with the purchase of certain condo units.
In a challenging real estate market, Realtors and sellers have to find a way to stand out. Is offering incentives the right way to achieve that?
Do You Have a Catchy Slogan?
You need the right slogan or tagline to capture people’s attention.
When it comes to slogans, if you don’t have a great one, it’s better to not have one at all. The right slogan or tagline will capture people’s attention, tell something about yourself, and motivate people to use your services. Your slogan is a vital part of your brand.
When trying to come up with an effective slogan, look online or in the Yellow Pages to get the ideas flowing. Keep these characteristics in mind as you make a list of possibilities:
The slogan is as catchy online as it is offline.
Will grab your target audience’s attention.
Spotlights something unique about yourself.
Stands out from the crowd of other Realtor’s slogans.
Outrageous enough to be remembered but not corny or cheesy.
All the words in the slogan have meaning.
Will stand the test of time.
The slogan has an original and powerful message.
Catchy and clever is what you are aiming for!
When you have narrowed your list of potential slogans down to two or three, ask people for their input. You should be able to get a general consensus as to which slogan will work best for you.
Mike Blaney, a marketing expert who has developed a specialty helping Realtors build their businesses, shares what makes a slogan work, “A slogan or tagline should answer the questions, "What's in it for me?" and "How will this person, product or service help me with my problem?” It should convey a solution to the reader's problem. It should be about the reader, not about the Realtor. It should solve a problem. Buyers are concerned about certain aspects of the process as are sellers and a slogan should address the benefit of working with the Realtor.”
Blaney was generous enough to share his thoughts on how effective the following slogans are of Realtors across Canada:
Lynn Clayton, Broker with Coldwell Banker, The Property Shoppe Real Estate, in Kincardine, Ontario. "The Power of Two = Assured Results for You"
It is typical for pairs, partners, or couples to try and justify the fact that there is a benefit to using two Realtors instead of one, but it does not convey anything more than there are two people. Having two people working for you is not a perceived benefit.
Jennifer E. Turcotte, a Broker with Re/Max Pembroke Realty Ltd. in Petawawa, Ontario. "Welcome... You'll feel right at home with me"
This slogan is attractive to a buyer that needs hand holding. It conveys a warm personality. It has a very positive connotation. It is easy to demonstrate this feeling.
Bob Stewart, a Broker with Claimpost Realty Ltd. in Timmins, Ontario. "Bob Knows Real Estate"
Simple and straight forward, but we expect that from a Realtor. Okay, you know real estate, but how does that help me? Shouldn't every Realtor know real estate?
John Norrie, a Realtor with MaxWell Canyon Creek Real Estate in Calgary, Alberta. "Known for Service, Trusted for Results"
Do all Norrie’s testimonials prove good service is offered and results are always there? How do you quantify good service? Do you have a system to ensure people are getting good service? Do you measure results?