Tag Archives: marketing your real estate agents

How To Turn Renters Into Homebuyers

Despite the myth that renters are not a valuable lead source, 46% of renters are actively considering a home purchase. If you are anything like most real estate brokers, you understand that with careful and strategic targeting, a great deal of those renters can be converted into long-term clients that will buy, sell, and refer your brokerage to their friends and family. In today’s post, the experts at Weichert are sharing their tips to help you turn those untouched renters into a cash cow for your real estate business.

Which Renters Are Ready To Buy

Randomly targeting renters will usually result in a poor return on your investment of time and energy, which is why many real estate agents have come to think of renters as a bad niche. Therefore, it is important that you invest the resources upfront to gather data about the demographics of the local community to find the highest concentration of potential buyers that are currently renting. Once you have the data revealing the right people to target you will be better able to reach and attract them both on and offline.

Lead With Education

One of the biggest reasons that people rent rather than buy is that they don’t think they are able to afford a home. The best way to combat this concern is through education. As a broker, you need to make sure your agents are up to speed on the very latest financing options. Then run marketing campaigns targeted specifically at renters all based around the idea that “Yes, You Too can Afford Your Own Home”. Flooding your real estate blog, newsletter, and social media platforms with information on financing and entry level inventory that educate renters on how to buy and how much they can afford is key.

If you want to connect with renters in an even more personal way, consider holding first-time-homebuyers’ workshops that explain the process of getting pre-approved, finding the right property, and the value of hiring a Realtor to protect their best interests. The more education you supply with the right renters, the faster your pipeline will fill with leads.

Be Patient & Consistent

While some of the renters you target may convert right away, many will take time. Be patient and remember that you must continue to remind them that you are there to take care of them when they are ready. Connect with them in as many ways that you can to help make this easier. For example, invite them to follow you on social media, invite them to attend any events that you host, drop-by when you are in the neighborhood, etc.. You may be surprised how many people won’t respond to your efforts until they are ready to buy so don’t assume their silence is a lack of interest.

You Need a System to Target Renters

Having a clear cut system for following up with renters, and the right tools to help you do so, will dramatically increase your success with this market. Make sure you have a schedule in place for regularly staying in touch with all of your renters, no matter how hot or cold they appear. Remember that when renters decide or discover that they are ready to buy a house, they will likely do it with the agent that is front-of-mind and that they feel most familiar with at that time.

One of the biggest reasons that Weichert brokers are so successful with the rental market is that they leverage proven processes for generating renter-to-homebuyer leads. It also doesn’t hurt to be able to leverage things like the Weichert Rental Network, a national service for relocation rentals for both individuals and corporate clients. Renters that come through our network, have a much higher likelihood of contacting your team when they decide to buy.

For more information about the full suite of tools and lead generation system that Weichert offers, go to https://www.weichertfranchise.com/

When You Show You Care, People Take Notice

As a seasoned real estate broker, you already understand that your brand and reputation are not just based on your performance in real estate, but the role you play within the community. One of the most powerful ways to stay involved in the community and propel positive feelings associated with your brokerage is to participate in charitable activities and showcase those efforts. But like anything, it’s good to have a plan going in. Here are some tips to help.

Choose The Right Activities

The first thing you need to do is be sure that you are partnering yourself with the right charity. It is important that you are passionate about the local cause that you choose and that it is in alignment with your brand. In fact, the more meaningful the cause is to you the more inclined you will be to stay active in your efforts. For example, if you are a woman building your own brokerage, you may feel passionate about getting involved with the local women’s resource center so that you can help empower other women in their careers–and of course promote the excitement and value of becoming a real estate agent.

Promote The Cause

When the time comes to promote your altruistic work with the local charity that you have chosen, it is essential that you promote the charity and the cause itself rather than just your work with that charity. One way of doing this is to use your blog and social media to tell stories about the people that have been impacted by the charity. You may also want to do video or audio interviews with administrative members of the charity to help give a voice to the cause through your brand. This will help generate a stronger emotional connection between your followers and your business, raise awareness about the accomplishments being made by the charity, and hopefully inspire more people to get involved.

Determine The Best Times To Be Active

As you lay out your community service plans for the year, make sure you are picking activities or times to hold events when you and your team can dedicate your time. If you are very busy in the Spring with the selling market, maybe more involved activities are better planned for the Summer or Fall months, for example. This way you can devote ample attention to making it a success, plus you can get your agents and office staff involved. Getting your agents involved in projects helps foster a stronger team culture and makes everyone feel good!

Altruism Always Pays Off

Putting your best foot forward to help the community will remind people that you are more than just a brokerage, but a member of the community that cares. When the time comes for a fellow community member to use a brokerage, they will be in search of a company that they trust to work selflessly for them. This is when your generous work with your chosen charity will pay off the most.

At Weichert, we live a people-first philosophy. We coach our brokers to be active and positive forces in their community. This is good for business for sure, but the true reward for lending yourself to the betterment of others is the positive impact you will have on those that need it most. That’s the right way to do business. That’s the Weichert Way.

For more information about how the Weichert brand helps you to build valuable relationships between your brokerage and your community, go to https://Weichertfranchise.com.

 

Don’t Let Your Brokerage Get Caught In “The Shiny Penny Syndrome”

There’s one thing for certain about the real estate industry–there is no shortage of gadgets, downloads, software tools, or marketing services targeted to brokerages. And as a broker, it’s easy to get distracted – you’re afraid you’ll be left behind if you don’t take advantage of the latest and greatest thing out there. At Weichert®, we call this “The Shiny Penny Syndrome”.

Essentially, this occurs when a company jumps to chase a shiny, new opportunity, service or product instead of focusing on mastering the basics of running a business. Often, these products and services offer to make your lives easier by saving time, helping to maximize efficiency, effectively marketing your brokerage, getting more listings or even helping your business survive the latest economic crisis.

It’s important to learn to navigate this minefield, if you are a broker looking to grow in a challenging housing market. There are so many shiny pennies out there that it’s easy to end up jumping from one promising new real estate tool or marketing idea to the next in an increasingly rapid and costly cycle, while the core elements of the business like how to recruit, write an effective business plan, maximize agent production and monitor key performance indicators get less attention than they deserve.

These shiny pennies are marketed so well and with such urgency that brokers often forget to ask pivotal questions like “How will it fit in with my current business goals?”, “What real results will it bring?”, “Where will I go for support?” and “What operational changes will be required in order to actually get the benefits of the product?”. Most Brokers know they must adapt and innovate to stay current and effective in an ever changing landscape.  The real challenge is knowing how to balance innovation with the basic activities and systems needed to run a successful brokerage and build a business.

Innovation With Purpose

A key to successful innovation is to focus on the benefits to your core customer and core operations, rather than innovating for multiple seemingly attractive, trendy options. Important questions to ask when considering a new product, technology or marketing service include:

  • Will this help me achieve the business goals I’ve set for myself this year?
  • Will this help me or my agents better service and communicate with our customers?
  • Will its use enhance the credibility of my brokerage or my agents?
  • How can I measure the effectiveness of this investment in 3 months, 6 months, a year?
  • Am I committed to doing the work and training necessary to use the tool or process effectively and consistently?

Strategic growth through planned and proven marketing for brokers

One of the things an affiliation with a credible Real Estate Franchise Company can provide is a guide who can steer you to the best of real estate innovations while keeping your business plan on track. The Weichert System gives you proven, productive systems, technology and activities to implement for nearly every aspect of your real estate business, including real estate marketing, selling systems, recruiting, a lead system and business management. With comprehensive training, ongoing support and expert coaching from our real estate professionals and a parent company with first-hand brokerage experience, you’ll feel relieved knowing you have people in your corner. You’ll never have to go it alone again. Our support staff will work with you to map out a road to growth.

At Weichert, we’ve already paved a road for success. All you have to do is take it. Visit us today at https://www.weichertfranchise.com.

Undeniable Traits Of A Successful Leader

As a real estate broker, you are no longer directly responsible for leading buyers and sellers through the complexities of real estate transactions. Instead, you are now charged with the responsibility of successfully leading your team of real estate agents to reach their potential. While there are many traits and skills that make up what most would consider a successful leader, there are a few that serve as the cornerstones for every broker. As you strive to become the best leader you can be for your team and your business, focus on the development of these must-have traits.

Authenticity

The greatest leadership wisdom taught in lofty places like Harvard has to do with being authentic. Authentic leaders are said to value input and feedback, are positive, truthful, and open. They build trust and generate enthusiastic support that improves both individual and team performance.

Consider that a career in real estate can feel like a roller coaster, full of ups and downs. For some real estate agents, the downs can lead to doubts in their abilities and fears about their future. As their broker-leader, you can help shoulder those burdens by being an authentic leader who has both empathy for their situation, but whose enthusiasm and positivity helps them stay focused and motivated. Being an authentic leader, also helps creates the authentic culture in your brokerage that will minimize turnover and help improve production.

Recognition

There is nothing more demoralizing than having those you look up to ignore your strengths and accomplishments. As a leader, it is your job to give recognition to those agents that perform well and showcase exceptional talents. If you hold team meetings, you may want to consider regularly giving out awards or tokens of recognition to worthy individuals. Certainly top performers should be recognized, but there are many things you can recognize people for. In the spirit of being authentic, just make sure they are recognized for real achievements.  If you look hard enough, everyone has something meaningful they have achieved that you can hold up for your team.

Humility

Everyone makes mistakes. The difference between an average joe and a successful leader is that a leader is humble and willing to admit their mistakes. This is another attribute of the authentic leader, the willingness to admit mistakes. In fact, as a real estate broker, you have a special opportunity to use your hard earned knowledge to save your agents from wasting their own time, money, and resources in the same ways you may have as an agent. By exercising humility and openly leveraging your mistakes into lessons, your entire team can work smarter and will have deeper respect for you as a leader.

Empowerment

One of the first things you had to learn to do as a broker was to stop selling homes yourself. Now the next part is actually empowering your agents to do the selling and make them as good at it as you were. Don’t be a broker who swoops in and personally fixes everything, whenever a deal hits a rough spot. Instead give your team the training they want, the advice and support they need, and the encouragement to be successful. Agents who feel empowered and supported, and who are not micromanaged, will take more initiative and over time will develop into more productive and motivated sales associates.

Accountability

If you strive to lead an all-star team, you must lead by example by being accountable for what you say and do. This really means getting back to some basics like saying what you will do, and doing what you say you will. Since the buck stops with you, some things will naturally float up to your level, and when agents see that you will jump in and handle the big challenges, their confidence in your leadership will grow.

Accountability is actually one of the important skills Weichert teaches its brokers through the Weichert Management Academy. The academy, open to Weichert owners, brokers and managers across the country, teaches attendees all the important elements of building a successful team and managing a successful business. In this training the behaviors that constitute accountable leadership at every level are discussed. Being accountable means employees will feel your organization is solid, and that they are both well supported, and empowered to move their business forward.

There’s Always Room To Be A Better Leader

As a real estate agent, you successfully developed your abilities as a salesperson. As a broker, your focus shifted to being an effective leader. If you think you could benefit from leadership coaching and training programs, as well as a collection of production boosting tools and systems for your agents go to weichertfranchise.com or call 877-746-2067.