There are probably as many reasons as there are buyers for why some homes don’t sell as quickly as others, but here are what I think are the top 5!
1) Poor Location
Regardless of how much you disguise a poor location in photos and copy, if a house is in a bad location it is generally going to take longer to sell…at any price. Only a certain percentage of people are predisposed to live on a busy street, under high voltage wires or across from a school. The good news is that there are people who specifically look for what might be your negative. Think about who these people might be and focus your marketing at them.
2) Poor Presentation on the Internet
A bad photo on the MLS and/or on the Realtor web site and you have people turning up their noses before they have even seen what a great home you have. If the photo from the street is not flattering use a photo of the best room in the house or perhaps the backyard. Get them to the house and they will fall in love with it..and deal with the front later.
Not all homes were built for flattering front shots and the weather does not always cooperate so there might be a good reason for a less than flattering photo or no photo of the front of the house.
Realtors take note - it’s a sin to let buyers judge a home buy it’s cover. At the very least you should visit it on the Agent’s Tour and judge for yourself. (Thanks to REAgent in Connecticut for this photo. After writing the article I found this web site with bad MLS photos which supports my argument perfectly)
3) The House Is Dirty. Period.
If you think with all of the homes available on the market that people can fall in love with a dirty home you must be dreaming. It is hard enough to get past the old car parked in the garage, kid’s toys all over the front lawn and the 17 dwarf statues, but getting past dirty is probably the hardest of all.
People can get past clutter and a messy home much easier than they can deal with a dirty home.
A dirty home is perceived by buyers as a home in need of repair, when all they often require is some disinfectant. Read the rest of this entry »
One of the crosses I must bear as a marketing guy is that I know a lot about computers and software. Even though I was born in the ages of the stone tablet, you cannot make it far as a marketing guy without mastering technology.
What I want to know is how people can sense you know something about computers and call you asking for help. Do I give off a scent? Do I look like I have Carpal Tunnel Syndrome? Whatever it is I have ended up as a computer resource for many so when I saw this video on Youtube I had to let the world see it. My understanding is the original is taken from the show “Øystein og jeg” on Norwegian Broadcasting (NRK)in 2001. With Øystein Backe (helper)and Rune Gokstad (desperate monk). Written by Knut Nærum.
What does this have to do with marketing? If I have one piece of advice for anyone who wants to improve their marketing, invest time in learning about technology and how it can work for you.
I don’t read a lot of business books. I find it hard enough to master everything I already know I should do without adding any more pressure to learn new things and master them.
However, the exception is the E-Myth by Michael Gerber which I have read a few times. Essentially, in my words, it states that people start a business because they need a job, or they become a Realtor because they need a job or become a house painter because they need a job, but just because you are an expert in the technical work of your business it doesn’t mean you are able to build and run a business.
Michael Gerber has written a number of other books, but none have had as much impact on me as the original. If you feel you might fall into the category of “starting a business or venture because you needed a job” please read on about an instant evaluation service they offer.
The book stresses the important of creating systems for your business and executing those systems effectively. Then as the business grows you hire people qualified to execute the systems you have created.
The reason most businesses fail according to the E-Myth and in my words, is that people start a business because they need a job and are good in a specific field. Revenues increase, people are added and the business grows organically with new employees implementing their own systems. After a few years the owner is walking through his business and asks someone why they are doing something a certain way and the employee says ” because we have always done it this way”. The owner is horrified and says “that’s not how we do it; let me show you the right way”. He/she then realizes everyone is doing things the wrong way, lays off everyone and starts on their own again. Actually, it is usually a case where the business has already started to fail because everyone has their own systems. Read the rest of this entry »
Do you ever wonder how your marketing marketing evolved to where it is now?
Do you ever wonder what sort of image you are conveying?
Have you ever given much thought to how your customers or clients perceive your business or service to be?
If you answered NO to all of these questions skip to the next post, but if you sense that your marketing is getting dull, diluted or discombubulated then read on.
Before - - - - - - - - - - - - - - - - After
Determining if a Marketing Makeover is required is something you can do with family, a few friends, employees or business associates as long as they are prepared to be honest with you and you are prepared to accept their opinion.
1) Gather up samples of all of your marketing material and anything used externally. These will include:
Invoices,Letterhead,Second Page,Envelopes, Business Cards,Direct mail postcards,Feature sheets,Product tear sheets, Folders, newspaper ads, magazine ads etc.
Don’t forget electronic images such as:
Your web site home page,email stationery or signature, your company voice mail message and your cell phone message
And promotional items such as:
Mug, pens, advertising specialty items with the logo
2) Lay everything out on a tableand ask yourself or the group a few pointed questions:
Is the logo the same on everything?
Is there a logo on everything?
Is our slogan and tag line on everything?
Is the company name, address, phone number and web site on everything?
Is it in the same font and size of font?
Are the colors consistent on everything?
Does it look like everything is from the same company?
Which items look out of place? Too nice. Too shabby.
What image does the gathered material convey to our clients and prospects?
Is our logo dated?
etc
3) After an honest evaluation a few decisions have to be made:
Should our branding be updated?
Or should just the colors and fonts be updated?
In what order should things be updated?
What is the time line for implementation?
Who is responsible for the implementation?
Do we need outside help?
This exercise does not replace what you can expect from a marketing consultant or company, but it is an important first step.
adverse/averse - “Adverse” means unfavorable. “Averse” means reluctant.
accept/except - “Accept” means to to receive with consent.”Except” means With the exclusion of.
affect/effect -”To affect” means to influence, change or produce an effect “To effect” means to accomplish, complete, cause, make possible or carry out. If you’re looking for a noun, you’re probably looking for “effect.” If you’re using a verb, you’re safest with “affect.”
allude/refer -”To allude” means to speak of without mentioning. “To refer” means to speak of directly.
I have written before about open houses and while I cannot speak for every city, every market, every country and every price range I can’t imagine why a Realtor would not hold an open house.
To be fair and balanced in this blog the arguments against open houses are usually:
Open houses rarely sell houses. (see next paragraph)
Open houses benefit agents. (exactly why you should have them)
Open houses are a security risk. (best reason I must admit, but handled at the end of this post)
Open houses attract neighbors and browsers. (who want to have their friends buy your house!)
“Buyers used a wide array of resources in searching for a home: 85 percent used a real estate agent, 80 percent the Internet (up from 77 percent in 2005), 63 percent yard signs, 55 percent print or newspaper ads and 47 percent attended open houses. ” Can you really risk alienating the 47%?
Actually the one reason they shouldn’t is because they are so badly prepared.
Testimonials are the lifeblood of many businesses and are effective for proposal and web sites. They do not have to be difficult get if you send a simple form letter like this:
Date
John Smith ABC Company 124 Main Street Vancouver, BC, V7V 7V7
Dear John:
I have a favor to ask of you. I am in the process of putting together a list of testimonials about my services / products from satisfied clients and I hope I can count you among them.
Would you take a few minutes to give me your opinion of my _______ ? No need to type a letter; just jot your comments on the back of this letter, sign below, and return it to me in the enclosed envelope.
(The second copy is for your files.) I look forward to learning what you like about my service…but I also welcome any suggestions or criticisms.
Many thanks.
Sincerely,
Your name here Job Title
You have my permission to quote from my comments and use these quotations in ads, brochures, mail, and other promotions used to market your _____________ services.
Signature________________________________ Date ______________
I think any client or customer receiving this letter would take the time to write out a few comments on the back and slip it into a stamped, self-addressed envelope.
An elevator pitch (or elevator speech) is a brief overview of an idea for a product, service, or project. The pitch is so called because it can be delivered in the time span of an elevator ride (say, thirty seconds or 100-150 words). source: Wikipedia
When someone asks you what you do for a living are you prepared to make the next 15 - 30 seconds work effectively for you or do you plan to react like this?
Prospect: “What do you do for a living?” You: “I provide marketing services to companies.”
Possible Outcome
Prospect: “You sound ideal to take over our $ 500,000 marketing budget! When can you start?”
Probable Outcome
Prospect:“Well it was nice meeting you”
What if you answered the question like this?
“You know how some Realtors find themselves so caught up working with new clients that they can never find the time to stay in touch with their existing clients who are the most important to their success?
When you lose touch with your clients you are missing out on both repeat business and referral business. What I do is create and implement marketing programs that allow the Realtor to stay in touch with their clients and still work with new prospects. Now the Realtor can focus their energy on new buyers and sellers that require more of their time.”
Here is a simple worksheet that you can use to create your elevator speech:
You know how some (your target market)__________________
find themselves (experience the problem of)_______________
Which means that (the outcome of problem)_______________
Well what I do is (your job)_________________
Which helps them (the solution)__________________
The benefit to my clients/customers are (outcome of solution)________
The practice of sending letters seems to be on the wane. I can’t remember the last time I received a personal letter from anyone and to be honest I am not the most prolific letter writer either. Now when I suggest sending a letter I am thinking of a hand-written letter on your letterhead. Forget about typing it out and worrying about the font and formatting. Write a letter. So how do you write a letter?
Keep them accurate, brief and clear.
Handwrite them most of the time.
Get directly to the point.
Make them feel personal.
Never use a form letters.
Make the reflect your personality.
I started thinking about reasons I could send a letter and there were a lot more reasons than I had originally thought possible.
To set up an appointment
To compliment someone for something
To reinforce a personal contact you’ve made
To thank someone for seeing your demo or hearing your presentation
To follow-up on a sales call
To thank someone for making a purchase
To thank someone for giving you a referral
To let them know of changes in your product or service offerings
To recognize someone for a job well done
To apologize for something you may have done wrong
To congratulate on a promotion or new job
To thank a person for doing a favor for you
To thank someone for exceptional service
To let a person know that you appreciate their product or service
To thank a person for their time
To announce a new product or service that you offer
To send new marketing information
To give advance notice of a sale or special promotion
To acknowledge recent publicity
To recognize a special occasion or event
There are dozens more reasons, but the best reason is the positive impact it will have on:
If you are like me the first place you search for something is using Google, but there is a new spin on search that is worth watching. It is called Mahalo and is the world’s first human-powered search engine powered by an enthusiastic and energetic group of Guides. These Guides spend their days searching, filtering out spam, and hand-crafting the best search results possible. If they haven’t yet built a search result, you can request that search result. You can also suggest links for any of our search results.
Mahalo now has pre-prepared pages for 5,000 terms related to entertainment, travel, health, technology and other subject areas. The company plans to expand its coverage to 10,000 terms by year-end, and eventually to provide results for one-third of the most common search terms.
The company is financed by Sequoia Capital, which knows something about the search business: It was an early backer of both Yahoo and Google. Sequoia, like other Silicon Valley venture capital firms, offers experienced entrepreneurs an office and salary to figure out an idea for a new start-up. It was while he was an entrepreneur in residence that Jason Calacanis had the inspiration for Mahalo. Mr. Calacanis, 36, published The Silicon Alley Reporter in the mid-1990s and went on to be a co-founder of Weblogs, a federation of blogging sites that was sold to AOL in 2005 for about $25 million. He took up residence at Sequoia in December 2006, founded Mahalo and gathered two rounds of financing, including backing from the News Corporation. Read the rest of this entry »
3) The House Is Dirty. Period.
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Posted by Mike Blaney
