Lakeview Title Company

Real estate sales can be a lucrative business. Do you have what  it takes? Sure. . .you took the real estate course. You have the technical knowledge necessary to perform. You know about real estate marketing, you know what real estate sales contracts look like, and you know what to do at settlement. Great. Not talking about that. I’m talking more about those “soft” skills you didn’t necessarily need to learn to get your license, but that are key to success, nevertheless. Here are just a few skills and characteristics that have been shown to increase chances of success in real estate sales:

1. Communication Skills
Good oral, written, and listening skills are key to success in real estate. This is so basic I almost didn’t want to mention it. But because it’s so basic, I had to. As a real estate professional, you deal with people all the time. So the ability to communicate effectively is at the heart of your business. Not only does it mean the ability to achieve mutual understanding, but it also means making sure everyone involved is in the loop. Listen attentively, speak and write clearly, give and request feedback, and confirm that all relevant parties have been informed.

2. Interpersonal Skills (The Likeability Factor)
This may sound silly, but the real question is: do people like you? The reason I ask is because overwhelming evidence shows that people tend to do business with people they like. [I know. Not exactly rocket science.] But it’s such a basic thing that people tend not to give it enough consideration. So, what makes a person likeable? Well, people tend to like people who are: polite, good listeners, helpful, respectful, honest, trustworthy, and empathetic. And who show a genuine interest in them and have a positive and optimistic attitude. So, to the extent you are considered likeable, your business will benefit.

3. Organizational Skills
To be organized is to have structure and systems in place. It means you know what to do, when to do it, where to do it, how to do it, and why you’re doing it. Organization promotes efficiency, productivity, effectiveness, and mental clarity. And it saves you time and energy. Some tools you can use to help organize your real estate business include: task lists, a virtual personal assistant, a smart phone, a calendar, and a contact management system. And if you insist, yeah, a sticky note is not out of the question. Whatever works best for you. Because when you’re organized, there is order. Without order, there is chaos.

4. Relationship-building Skills
Relationship-building is a skill. Usually, it doesn’t just happen. It takes effort. Meeting new people and then ignoring them will not get the job done. [Sidebar: I attended a legal conference a while ago. A presenter discussed the top two reasons why clients call an attorney grievance commission. They say attorneys: (1) steal their money; and (2) ignore them. Go figure.] After making a new contact, communicate regularly. You can: call, email, send mailers, do lunch, etc. Determine frequency based upon the type of relationship you want to maintain.

5. Goals
Goals give you a sense of direction and clarity. They give you a roadmap so you know exactly where you are headed. Written goals with deadlines work best. You can set daily, weekly, monthly, yearly and even longer-term goals. Be sure to review them regularly to make sure you are on track. You can always make adjustments along the way, especially if you discover your goals have changed. 

6. Patience
Woo! This is a biggie.  Especially, if you’re dealing with short sales, foreclosures, or complex commercial real estate transactions. They tend to be labor-intensive and time-consuming. Therefore, being able to wait patiently while things progress will be good for business and your blood pressure.

7. Persistence
Stick-to-it-iveness. The real estate market has its ups and downs. Ideally, you should be able to maintain an adequate level of business either way. On one hand, this means having a sustainable business model. On the other hand, it means having the determination, adaptability, creativity, and vision to succeed, even if the real estate market slows down. Persist and you’ll still be standing even after others have thrown in the towel.

8. Self-confidence
Self-confidence is the basis upon which to build almost anything. It is the belief and trust you have in yourself. It propels you to act. And it’s what will get you through obstacles, if they arise. To increase your confidence, focus on your strengths, commit to lifelong learning, have a Plan B, and stay positive at all costs. If you believe you will succeed, chances are you will.

9. Self-knowledge
You will save yourself a lot of time and energy if you know what you are passionate about. When you know exactly what interests you, you don’t waste time on unrelated matters. You are focused. For example, if you have a passion for lying on the beach, soaking up the sun, and sipping drinks with little umbrellas in them, then maybe you want to develop a niche in beachfront properties. By the same token, selling historical properties would only drive you bananas and lead you straight to the poor house. Know who you are, then “do you.” You can’t miss when you follow your bliss.

After you’ve done your research and identified your target market, marketing involves building and maintaining relationships with people who are interested in buying what you are selling. It means regular communication that lets people know you can help solve their problems or give them what they want.

This may come as a total shocker, but here’s what I’ve discovered: Marketing is an art. Not a science. You design your marketing. You design it around what methods and techniques work best for you and your clients. And regardless of the methods you choose, the key is to be consistent (e.g., communicate biweekly, weekly, monthly, or quarterly).

So, generally speaking, which methods works best? Well, from what I gather, the following are the best of the best in terms of allowing movers and shakers (like you) to make the rain (get it . . . rainmaker . . . oh, never mind!)

Ideally, you want to do some “old school” (traditional/offline marketing) and some “new school” (internet marketing). 

OFFLINE MARKETING
These “oldies but goodies” still work, if you know how to work them.

1. Network 
I know . . . I know. You’ve heard it a thousand times. Network, network, network!  But, you know why you’ve heard it a thousand times? Because it works! What can I say? Generally, though, it’s a process. You know the routine: you go . . . say hello . . . get to know. . . then watch business grow. That’s the blueprint for success.  And when you go, don’t just go with dollar signs in your eyes, be willing to listen and take an interest in other people. And if you absolutely hate the idea of small talk, then I suggest a few good books: “How to Work a Room” by Susan RoAne, “How to Start a Conversation and Make Friends” and “Talking With Confidence for the painfully shy” both by Don Gabor.  

You can take someone to lunch, join an organization, volunteer, attend a fundraiser, or whatever you choose.

2. Write an Article for a Local Newspaper
Newspapers are always looking for good content.  If you write an article for a newspaper, you automatically gain expert status. Beats me, but for whatever reason, people seem to think you’re a big shot if you get your name and picture in the paper. Unless, of course, you’re pictured with your hands behind your back and you’re walking next to someone in a blue uniform. Now, that’s a different story!!!

So, assuming you’re NOT that person, try contacting editors of the real estate section of local newspapers, ask for submission guidelines, then send in an article. You may find you’re the next big shot on the block after your article is published.

3. Give a FREE Seminar
People love free seminars. They can’t resist. Just choose an interesting topic, promote it, and they will come. Tell me, what client could resist: “Guaranteed: Sell Your House in 30 Days or I Pay Your Closing Costs” or “5 Easy Ways to Sell Your House in a Down Market for 10% More Than It’s Worth” or “How to Own the Home of Your Dreams for Only $1,000 Down and $1,000 a Month”? Well, you get the point.  Just pick a juicy topic you know well (or could easily learn) and turn it into a “How to” or “Tips and Tricks” or “Secrets of” presentation and you should be able to draw a nice crowd. You could arrange it to last 30-45 minutes with 15 minutes after that for Q&A. Give a handout and your business cards. If people like what they hear, they will remember you when they need your services.

4. Mailers
Mailers are a good way to keep your face in front of people when you can’t have a face-to-face meeting. You could do a postcard campaign. Mail a branded magnet. Or send a “Just Sold” mailer. And if you haven’t “just sold” anything, then send a recipe card. People love those things. [Sidebar: I used to send them when I was a realtor. Never got me any deals, but people would always thank me for the lovely cards. Gee . . . how nice.  Never mind my lack luster results, though. Maybe it was just bad timing. Mailers do work because they help people remember you. And when the time is right, they’ll contact you.]

5. Family and Friends
Don’t be a secret agent.  Let your family, friends, and neighbors know what you do. Ask for referrals. Word of mouth is how most successful real estate professionals get a lot of their business. 

6. Make Some Calls
I know. You don’t exactly relish the idea of making calls, do you?  Especially, cold calls. But it can be very effective. Just have a script and start dialing. Every “no” is one step closer to a “yes.” In addition, after you attend networking events, follow up with a call. That way, it’s not a cold call, but a warm call. 

INTERNET MARKETING (REAL ESTATE MARKETING 2.0)
Research shows that approximately 80% of consumers start their search for real estate information on the internet. So internet marketing is crucial. Following are a few key techniques that may help you increase your market reach:

1. Website
Nowadays, clients expect you to have a website.  Having a web presence is important for many reasons. A website enables you to:
• Do business 24/7 because your website can educate and inform all day long
• Reach millions of people worldwide
• Save time because your website answers frequently asked questions, such as the services you provide, contact information, how long you’ve been in business, etc.
• Receive instant feedback from clients
• Save money on printed marketing materials

So, if you haven’t already done so, consider setting up a website.

2. Blog
At the risk of stating the obvious, a blog is a type of website that allows the blogger to connect with visitors on a more personal level. Many real estate professionals blog and have found it to be an invaluable networking tool that enables them to share information, solicit feedback, and build business by generating traffic and leads. Some of the topics real estate pros blog about include: community events, new development projects, property listings, mortgage information, home improvement tips, and foreclosure, short sale and REO information.

3. Social Media
Geez! You can’t have a conversation these days without someone talking about linking, friending, or tweeting. Social media is . . . in a word . . . hot!! And there’s a bunch of sites out there: Facebook, Twitter, LinkedIn, Active Rain, Ryze, Digg, del.icio.us, Trulia, Zillow, Youtube, Squidoo, StumbleUpon, LiveJournal, 43Things, you name it. These sites are a way to interact, not only with family and friends, but with business contacts. And businesses of all shapes and sizes are playing the social media game.  Clients have come to expect it. I mean . . . don’t try telling someone from Gen X or Gen Y you don’t have a Facebook page, they may look at you like you’re  . . . well . . . old! And who wants that?!! 

4. Email marketing campaign/Newsletter
Some real estate professionals swear by email marketing. They say it is their primary marketing strategy for contacting prospects and staying in touch with past clients.  Email marketing is a great tool because it allows you to reach your target market on a regular basis, provide them with useful information, and stay on their minds without being overly intrusive. You can send local real estate data and statistics, photos of Just Listed, and neighborhood information. It’s up to you. But to do it right, you may want to use a service such as Aweber, Constant Contact, or Mail Chimp so you can automate the email-sending process. And remember to: (1) include your contact information in your signature; and (2) provide a link to your website or blog.

5. Online Forums and Groups
Online forums and groups allow you to be a part of an online community of people who share similar interests. In these forums and groups, you can give and receive advice and information. To comment, all you have to do is register. And when you leave a comment, be sure to include a link to your website or blog so visitors can find you. If you post regularly and provide useful content, online forums and groups are a good way to establish your credibility and expand your network. To find forums and groups, just do a Google search for “real estate forum” or “real estate online groups.”

6. Article Marketing
This is similar to the offline activity of submitting an article to a local newspaper.  In this case, however, you would submit to an articles database online. To find the most popular articles databases, just do a Google (or Bing or Yahoo!) search for “article directories list” or other similar search term.

So, there you have it, some effective ways to market yourself and build your business. This short list was not meant to be exhaustive, but to highlight proven strategies and get your juices flowing.

Get creative. Try new strategies. Find out what works. Rinse and repeat. [Sidebar: remember to send me a recipe card!!]

Until next time.

Be well.