I know you’re dying to find out the results. Earlier this week I sent out a simple message to my agents…”The results of my little survey are in BUT you will have to attend tomorrow morning’s meeting to find out where clients come from. The methods were highly unscientific but the results will be mildly informative (hopefully) and, with any luck, generate some worthwhile conversation”. The heading was also a bit catchy…Dum Da Da Daaa!
I have to admit that I was rather curious too. A few weeks ago I pulled the last 120 deals from our records. I wanted to know two things; Where did the agent meet the client AND how long did they know them before they bought or sold their house. I had a feeling what the top response would be but I was more curious about other responses. It took me some time to contact each agent and ask the questions but in the end I was able to categorize the responses into twelve clear groups. We had a full house at our meeting to unveil the results. Now, if you know me then you know that reading them off is NOT something I do well. I prefer the pomp and circumstance of an event, even if the results aren’t all that exciting so we played the “Realtor Feud” game, pitting the Red team against the Blue team in an epic battle (not really) with the winner getting bragging rights for the day.
Obviously the results will vary but I thought it interesting that the top four responses, representing 67%, came from the people we know the most; past clients and friends. I suppose that makes sense, after all, our past clients and friends know us the best. We are still picking up clients from people we don’t know as well. That’s a good sign and evidence that traditional methods of prospecting work. Flyers, news letters, open houses, sign calls and walk-ins accounted for 15%, family and neighbours accounted for 10%, clients coming from social media and web accounted for 6%, and professional referrals (people you are associated with in business such as referral companies, lawyers, accountants) accounted for 3%.
So the next question is how quick did agents buy or sell homes? Well not surprisingly (again) agents had long-lasting relationships with friends, past clients, family and professional referrals. Social media and web-based clients had the shortest relationship time followed by signs calls, open houses and walk ins. This indicates that clients coming from these sources have done their research and are in the active buying or selling process.
The take away from this little bit of non scientific research is that you need to prioritize your inbound clients. Past clients and friends are on a slow drip campaign when it comes to touching base and follow-up. Online leads, open house and sign call clients are ready and able so deal with them quickly. I believe this little test is further proof that a solid CRM system is a mandatory tool for our business. I would encourage all Realtors to evaluate where their clients are coming from and prioritize their contacts.
mark mclean is the Broker/Manager at the Bosley Real Estate Queen St W office and President-Elect for the Toronto Real Estate Board. The opinions expressed here do not reflect the opinions of TREB or Bosley RE.
It can get a bit crazy with all the information out there on real estate and social media. Luckily there’s RealtyLab’s Friday Five to help you wade through all the noise. Each week I pick out the top five stories and put them together in this handy bite sized format. Each week is something completely different. Hope you enjoy it.
Sometimes you have to look outside your industry for ideas and innovations that might be adaptable to the things you do. Check out this post and see if there is any inspiration to be found. I especially like the title…How To Win Over Customers: Lessons From 8 Rock-Star Brands. http://www.fastcodesign.com/3025028/how-to-win-over-customers-lessons-from-8-rock-star-brands#1
One of the best ways to outsmart Google and get some serious SEO juice is to write killer blogs. Ok that might not be for everyone but if you ever thought about blogging then you should check out 5 Questions to Ask When Writing Content from blogging and social media genius @JeffBullas http://www.jeffbullas.com/2013/02/27/5-questions-to-ask-when-writing-content/
And speaking of SEO..It is getting more and more complicated. Luckily we have @Inmannews to explain some SEO strategies to focus on in 2014. http://www.inman.com/next/seo-strategies-going-beyond-google-analytics-to-discover-keywords-to-go-after-in-2014/
Another great post talks about the statistics of social media and what effect they will have on everything we do in 2014. It seems there was a tipping point last year that has major implications for business and brands and it will impact publishing and marketing strategies and tactics in the future. http://www.jeffbullas.com/2014/01/17/20-social-media-facts-and-statistics-you-should-know-in-2014/
Many people struggle with reinvention whether they are making a small change or really overhauling their life or their business. The thing about reinvention though, is that you get a mulligan, a do-over. You get to start again with a clean slate–only this time with more wisdom. Wouldn’t it be great to do things the way that will make you most successful? Check out these five insights. http://www.inc.com/kevin-daum/5-tips-for-successful-reinvention.html?cid=home1
Hey, in case you didn’t know.. I work at Bosley Real Estate in Toronto. We aren’t just the oldest AND largest independant brokerage in the city, we are also the most tech savvy.
Happy Friday. I hope everyone is having a blast with the Fall market. It has been busy around here to say the least. That’s my excuse for getting this week’s Friday Five out anyway. Also my phone won’t stop buzzing.
No matter what you’re selling or hoping to promote, video should be a consideration for your marketing spend and focus. With easy-to-use platforms like YouTube, nobody can blame technology as a hurdle anymore. Still, it’s difficult to come up with just the right message, tone, and approach to make video marketing pay off for you. Every business is different, and finding your niche, and your audience, might take some time. But the great thing about starting under the radar, though, is that you can test and tweak and fine-tune at first before making a bigger splash. When that time comes, you’ll have all the information and experience behind you to help inform your decisions. http://m.marketingprofs.com/articles/2013/10928/five-killer-video-marketing-tips
Are you pinning your content on Pinterest and forgetting about it? Here are some tips on how to keep the momentum going on pins to get more repins and ultimately, more blog traffic.Try these tips to help grow more synergy between your blog, Pinterest and the rest of your social media presence. If you’re pinning and ignoring your pins, you’re missing an opportunity to cross promote your content and build more followers. pegfitzpatrick.com/2013/10/16/how-to-promote-your-pinterest-pins-and-get-more-repins-ftw
Do you use content to capture the attention of consumers? Are you wondering how to reach out to a larger audience. Learn about how any business can become a media outlet here. http://www.socialmediaexaminer.com/becoming-a-media-with-michael-brito/
Blogging has changed! We are witnessing the biggest revolution in publishing since the Gutenberg press was invented over 570 years ago. Many blogs are transforming into online global magazines that measure readership in the tens of millions every month. Most blogs provide information that is targeted to a certain interest group or niche whether that be politics or technology. Almost all of these blogs started from humble beginnings and a passion about the topic. http://www.jeffbullas.com/2011/09/16/past-present-and-future-of-blogging-3-infographics/
Just as social media optimization is getting more and more important for digital marketers, social media is gradually becoming central to the strategy of e-commerce companies. Focusing only on search engines is not enough – on an average people spend 23% of online time on social media websites. Not promoting your products on social media is a big mistake. http://designbeep.com/2013/10/16/social-commerce-can-boost-online-store-sales/