Inman on Tour: Increase the volume of real estate success in Nashville! Connect with industry pioneers and top speakers, gain powerful insights, cutting-edge strategies and valuable connections. Increase your business and achieve your most audacious goals – all with Music City Magic. Sign up now.
Real estate strategies have a lifecycle that will eventually disappear or become less effective. Many agents continue to follow the same strategy without realizing that it is time to pivot these trends.
The change in the outcome can be slow fading, which leads to a desire to maintain, hoping that the trend will reverse the results received in the past. I share not only the trend of dying and dying, but also the alternatives that are rising right now, leading to higher conversions and more closure transactions.
1. Door knock
Door knocks are strategies that can produce results, but their effectiveness is significantly reduced and there is a better way to build a business. We witnessed a case study during last year’s presidential elections on the value of door-to-door value reducing effectiveness.
The losing party doubled the strategies they helped them win elections in their previous door-to-door visits in swing states. Meanwhile, the winners focused on podcast interviews and new media sources. While this may not fully explain the outcome of the election outcome, it is noteworthy and provides insight into the effectiveness of traditional knocking practices in real estate.
As mentioned in the previous example, there is an alternative to promotions. Future buyers and sellers spend a lot of time listening to YouTube, social media and podcasts. Search-driven outlets such as YouTube and social media channels allow you to place your message in front of your ideal client digitally, with far less of your life than knocking on the door.
The key is to understand the behavior and desires of your ideal client and place them in a way that leads to action, not only to receive and receive themselves and messaging.
2. I sold a card that was just listed
Only cards sold and listed are still effective, but standard postcard formats are so common that consumers rarely even notice. I’m a real estate marketing student, but I open an email with my own trash so that I can easily remove the standard marketing postcards that most agents send.
There is a better way. Rethinking this marketing will help you stand out and attract potential customers’ attention and be more effective. The key to an effective sales campaign is to make people or processes a hero. Here is an example of the front and back of a campaign rethinked by Holly D’Arcy of Destin, Florida.
By making the process a hero, this type of campaign helps her stand out from other agents, increasing the chances of future listing opportunities in the neighborhood.
3. Unedited list photos from iPhone
The list of photos is the first impression of a home where a potential buyer is listed for sale. Professional photography presents your home in the most attractive way possible. They have the ability to attract attention and lead to additional shows.
Unedited photos taken from an iPhone do not only present your home in a negative way. They also present you in a negative way as a listing agent. The way to sell a list is your resume, and is seen by homeowners representing the list of future.
Investing in professional photos, drone shots and videography on the list is no longer an option. It’s a must for a truly professional agent.
4. The 3 Ps of Marketing are sufficient
The standard marketing plan for past listings was for 3P. Put your list in MLS, put your signs in the garden, and pray that the buyers will come along. Most agents need to continue doing these three things, but now they need a detailed marketing plan that positions the homes that will be seen by as many future buyers as possible.
The era of passive marketing is over. When multiple offers for new listings were the norm, we were able to get away with limited marketing. As the market continues to normalize and the average market days continue to increase, the ability to execute in a result-driven marketing plan separates the average agent from the superior agent.
Whether you start from scratch or build an existing listing marketing plan, AI, especially ChatGpt, can help your clients become expert marketers who want them. One way to start the process is to use the following ChatGPT prompt:
Act as a professional real estate marketer specializing in developing creative strategies to support the market list of real estate agents. Please tell me 25 creative ways to sell my list at (address) using the following MLS description: (insert MLS description).
Ask as many questions as you need to help put together the best marketing strategies you can offer.
If you’re preparing to book a listing and wondering how to put together a marketing plan that will help you get your list, check out this article to break down how ChatGpt does heavy lifting for you Please.
5. Blog Post Lead Generation
We may be at an early stage in this trend, but the effectiveness of SEO-driven local blog content is declining. This is driven by the acceleration of users who use ChatGPT to create an unlimited amount of SEO-optimized local content on their blogs. The vast amount of content being created dilutes the effectiveness of this strategy to the effectiveness of the website.
However, if you change the place where you share these blog posts slightly, this strategy will be more effective. LinkedIn continues to be the perfect platform for local, blog-style content. LinkedIn has been accelerating opinions and engagement for this type of content recently. LinkedIn is using LinkedIn’s ChatGpt, which could potentially slow this strategy on LinkedIn, but this platform currently has a window of opportunity.
Additionally, there is a revival of VLOG content. The value of video content continues to rise, and video content cannot be ignored due to the shift towards more search-friendly algorithms on social platforms. We see an increase in the use of video content generated by AI, but for now, personalized video content is the best alternative to boost your results.
6. Acceptance of non-professional buyer agents
The buyer agency changes brought about by the NAR settlement could be viewed negatively by many, but one positive thing is that it led the age of professional buyer agents . The buyer’s agent’s ability to communicate the value they bring is no longer an option.
If you’re still struggling with how to tell you what you’re doing as a professional buyer’s agent, check out this article where Andrew Undem shares his step-by-step buyer presentation.
7. I’m waiting for interest rates to drop
Over the past year, many agents have been freezing and waiting for interest rates to return to the 5% range. Rates have historically remained in the average 7% range, but the sudden, dramatic increase in rates has led many agents to wonder what to do. The tendencies of agents waiting to take action are based on hope and continue to prove their losing strategy.
After working in this business for over 30 years, I discovered that the most successful agents control what they have control. They manage the number of real estate-related conversations they have on a daily basis. They identify and focus on client needs on behalf of easy-to-buy prospects who can postpone buying and selling based on the economic environment.
They understand that spring always comes after winter and stay consistent with their efforts despite the market is doing. This leads to gaining market share, but others pause and wait for things to improve. Interest rates go up and they fall, but homeownership and life changes lead to home sales. Being consistent will pay off you.
Trends go back and forth, but professional agents coordinate their business and succeed. Now is the perfect time to take a stern look at your daily activities and see if there may be adjustments that will lead to more success.
Jimmy Burgess is a real estate agent and national team builder serving actual brokerage companies, 30A, Destin and Panama City beach markets in northwest Florida. Connect with him on Instagram and LinkedIn.
