Real Estate Marketing 201
First, watch this video.
[youtube]http://www.youtube.com/watch?v=5yeP23qany0[/youtube]
I think Jonathan Dalton sums up my reaction to this video best, in his post The Fallacy of “Going Back to the Basics”.
I’ve spent much of the last week zigzagging across the country talking to various groups of Realtors and there is one thing that has become abundantly clear.
There’s a belief that the principles of real estate marketing 201 (social media, blogging, video, social networking, micro-blogging, etc.) are never going to supplant traditional marketing.
And while I suspect that’s partially true, if you’re not at least thinking about integrating them (some, not all) into your business then you are doing yourself and your business a great disservice.
Marc Davison calls this having a rock star attitude and says you should rewrite the book on how to kick ass.
Just like how some of these rock stars did.
15 Comment(s)
2 Trackback(s)
- From Back to What? : Real Estate Video - Wellcomemat Blog | Feb 14, 2008
- From Real Estate Roundup - Week 7 | eCommission Blog | Feb 15, 2008
Ben in Austin | Feb 12, 2008 | Reply
OH MY GOD Joel, that is 4 minutes and 34 seconds that I will never get back. What is this, advice for people that have failed in everything else and now want to join the 1.2 million of us? Well at least I can see that Point2agent got one thing from Saul. Repetition. I have gotten so many emails from them that I had to completely unsubscribe.
Greg Tracy | Feb 12, 2008 | Reply
Some traditional means of marketing still have a lot of value, especially basic networking within social groups and such. But it’s important to offer clients, and consumers (potential clients) what they want.
It’s like the golden rule, “Do unto others as you would have doen unto you”- it doesn’t work.
I prefer the “platinum” rule, “Do unto others as THEY would have done unto them”
Give what consumers want, not what you want to give them (calendars and magnetics with your picture)…
Matthew Rathbun | Feb 12, 2008 | Reply
Joel,
I mostly agree. I still think that all marketing only translates well if the Realtor is comfortable with the technique. For example I can’t do cold calling at all, because my disdain for the phone would come across, yet there are great agents who do very well at this.
I think agents MUST be aware of and communicate with their clients by multiple venues. Even if I don’t like the phone I still must use it, but I wouldn’t put my efforts in phone farming.
I still think that this video post was done just to say that he does it. I don’t thin we should beat him up to bad. Everyone deserves the right to dabble….
Joel Burslem | Feb 12, 2008 | Reply
@Matthew Rathbun – I certainly don’t mean this to beat up on Saul. More as a launching point for any discussion on the subject.
I respect him and what he’s accomplished over his career.
Skyler Malloy | Feb 12, 2008 | Reply
I totally agree. While new technology based marketing won’t completely replace traditional marketing for a while, it will happen.
I am already using http://www.facebook.com/ for my friends and family and I started using http://realestate.konnects.com for my professional online networking.
Web 2.0 stuff needs to be incorporated into real estate marketing.
theAve | Feb 13, 2008 | Reply
The basics are still important. But change is too. The key is to find the right balance.
Pensacola Real Estate News | Feb 13, 2008 | Reply
“Too much of every thing is just enough”. In this market we need to have multiple marketing efforts, just like we want multiple streams of income. I am starting to get leads from my blog, and I am also starting to promote it offline with shirts and cards etc. But I also get out into social situations (and wear my shirts), and develop relationships. The more various tactics you use the better off you will be. Great post. Thanks.
Marc Davison | Feb 13, 2008 | Reply
If you don’t know Saul, be assured he is as briefed as you and I on modern methods. But he, like many of us who have been asked to speak to agents throughout the years, struggle with how to deliver what we know to be true and real and not talk over their heads. I’m sure Joel can himself attest to the “dumbing down” process that is both advised to speakers and thought leaders when addressing groups of non “agent genius” agents.
Start heading down the path of micro blogging, listing blogs, Flip video cameras with build in USB that you can upload direct to Mixpo for online editing, social networking, leaving breadcrumbs, live chat widgets and more and you end up flying past an audience that is either comatose or defensive or argumentative.
Industry veterans like Saul are doing the best they can, as painful as it appears it might be, to continue to try and serve everyone in real estate by helping teach them to crawl even before they walk.
But honestly, while we are all so captivated by the successes of modern methods and the agents who sport them, there are many agents who thrive by doing the basics in major markets like SF where technology adoption is supremely low. In fact, the agents that move the biggest properties and cut the biggest deals don’t blog, don’t Flip, don’t mix, don’t syndicate, don’t social network and don’t waste time making online friends. For them, repeating those basics and folding them into a referral system is still the way they earn their million plus a year salaries.
Things that make you say um
retrove | Feb 13, 2008 | Reply
I think the important thing is to conduct your business that most reflects who you are naturally.
Doing so, will attract people who are most like you, which make crossing the trust chasm between you & client much easier.
Bloggers who are technical, i.e. Kevin attract technical readers… agents who are very socially adept offline will attract similar people.
Many successful agents have heard and use a sales techniques called “mirroring” http://en.wikipedia.org/wiki/Mirroring_(psychology)
The idea is to copy the actions of the clients thus making your more likeable to many of the different personality types. This creates more opportunities to develop trust and make sales.
The transparency and “pull vs. push” nature of internet makes mirroring difficult to achieve for traditional agents but it makes it up via reach, as communication style will attract readers who are most like them. Blogging is “reverse mirroring”.
The main thing is an agent cannot be everything to everyone. Be who you are and use the available tools your are most comfortable to communicate with as many people as possible who are similar to you.
Be consistent with whatever your do, online, offline, etc to create engagement opportunities. Hence the success storie Marc mentions of the traditional SF agent.
A blogger who post once a week will not succeed… a traditional offline agent who door knocks once a month won’t succeed either. There is a big difference between being lucky and being successful.
Consistently creating opportunities to begin conversations with people who may need your services and already like and trust you will lead to success.
Joel Burslem | Feb 13, 2008 | Reply
@Retrove – Amen.
Jason Brown | Feb 14, 2008 | Reply
“Calendars and magnetic strips”… That dropped off my personal Top 100 Marketing Ideas in 2004 – was replaced by #100: Get reciprocal links”. Win some, lose some…
Brian Columbus | Feb 14, 2008 | Reply
Some great thoughts from Saul that go ignored too often in our industry. His 4 pillars are spot-on: Frequent, anticipated, relevant & personalized. In today’s market its about garnering LOYALTY from past clients to get future business and his video speaks to winning strategies that work! This should be required study for everyone.
Jonathan Dalton | Feb 14, 2008 | Reply
The idea of referrals, past clients, etc. is one that will succeed in any market, I think.
I don’t argue against the four pillars, only in the examples given as application. I think it was Phil Hoover who wrote about the joy he gets from getting listings from sellers who have the magnet calendar of another agent on their fridge.
Having had a manager intimate I spend too much time blogging, every prospect I gain and closing that comes as a result of the blogs (to the tune of 3/4 of my closings this year) tells me I’m spending just the right amount of time there.
Bill Carter | Feb 16, 2008 | Reply
I know there are a few real estate companies here in the Portland area moving away from traditional media. Real Estate shopping has changed. People no longer just use the Sunday paper to find new homes. Web searching is crucial. Renaissance Homes has one of the better web presense here in Portland. They have a great site with all the information that one would need when making the decision of purchasing a home. More companies should follow their lead and offer more web options.
Michael Pierce : Overland Park Real Estate | Mar 9, 2008 | Reply
It is amazing how many technology challenged (or stubborn) agents there are. They are of the belief that you can still go about business just like you did in 1985. I get so many of the buyers for my listings now online that it amazes me that all agents have not at least adopted some web 2.0/ real estate 2.0 strategies by now.