7 Lies of Real Estate Marketing – Real Estate Marketing

Real estate marketing can be either your secret weapon or a real estate system that you wish you had never attempted. There are lies about real estate marketing that have been spread around for years by those who don’t want agents to unlock the power of marketing. Many of those who have spread these lies have done this unintentionally and others intentionally.
By discovering these real estate marketing lies you will have the secrets to turn your real estate business into a machine.

Marketing Is Expensive. Many agents believe that marketing is expensive so they never bother to look into how they can make it work for their business. Bad marketing is very expensive and can ruin the experience for an agent. When marketing is done correctly it is about spending little to get a large return. For example if you knew that you could spend $280 on marketing and you would get back $4,000 in return would you consider it expensive? So the only marketing that is expensive is marketing that hasn’t been tested, hasn’t been proven, and won’t generate you leads.

Marketing is About You. Have you ever seen a postcard, flyer, or a website of a real estate agent where the only thing that you see is a giant picture of them riding a horse or with a dog? These agents have been told that as long as they “get their face out there” they will be successful. I would like to ask you the following question and answer it honestly: Do people care more about themselves or people they don’t know? If you answered that people care about themselves more than us that is correct. Marketing that is about you will only be one of the most expensive forms of marketing you ever do and not produce the results that you desire.

Marketing Only Works Once You Are Already Successful. Often in hallways across real estate offices all around the country agents say “That agent does marketing because they are successful”. Agents don’t do marketing once there are successful they market to get successful.

“Your” Market is Different So Marketing Won’t Work For You. Every market is different however people often respond to messages that are similar. My team routinely tests 300+ messages to find 6 that work all over the country. Finding which one of the 6 that works in a particular part of a country is the work that must be undertaken in a one on one setting.

Marketing Doesn’t Generate Good Leads. Regardless of how you get a lead whether it be an open house, a sign call, a magazine ad, a flyer, a referral, or a website 85% percent of leads will be a total waste of time. The key with marketing is to generate a leads with hoops designed to find the top 15% of leads. For example allowing leads to contact you directly can cause waste your time.

Marketing is Too Difficult To Figure Out. Marketing can require testing which is why many agents avoid it for their entire careers. Without a formula to test each marketing piece you take out against it can be nearly impossible to find a winning formula. Marketing that generates results need to demonstrate to the prospect how you can benefit them and it has to do this in 10 seconds or less. When each of your marketing pieces clearly shows the prospect how your service benefits them and has a clear call to action the marketing will become far easier to figure out.

Marketing Doesn’t Provide Any Way To Prove That It Works. When a marketing piece goes out with 5 different phone numbers, a website, and no clear message it had no chance to work. Providing tracking on marketing allows an easy way to find out what is working and what prospects are responding to. This can be done with free tracking tools like Google Analytics when marketing is done on the Internet or a low cost 800# such as proquest.
By unlocking the secrets behind these 7 lies you will be able to improve any marketing that you currently are using as well as and future marketing you put to use to generate new business.

Crisis Or Opportunity – The Truth About The Arizona Real Estate Market – Real Estate Marketing

The present real estate market is acting just as it should on the heels of the greatest real estate boom in the last 40 years. There is a long way to fall to get back to “normal”. This falling back into a normal market, coupled with the contraction of the sub-prime mortgage market has the real estate consumer, and many homeowners in a state of fear. The various media continue to depict a very grim picture of the markets in general without distinguishing between the national market and local markets, such as the Arizona real estate market, with factors unique in the ways of population growth and investor activity. I have seen numerous articles referring to the sub-prime debacle as a global crisis. That may be taking it just a bit too far.The truth is, there is no geopolitical significance to recent events in the U.S. real estate market and the sub-prime crisis. To rise to a level of significance, an event — economic, political, or military — must result in a decisive change in the international system, or at least, a fundamental change in the behavior of a nation. The Japanese banking crisis of the early 1990s was a geopolitically significant event. Japan, the second-largest economy in the world, changed its behavior in important ways, leaving room for China to move into the niche Japan had previously owned as the world’s export dynamo. On the other hand, the dot-com meltdown was not geopolitically significant. The U.S. economy had been expanding for about nine years, a remarkably long time, and was due for a recession. Inefficiencies had become rampant in the system, nowhere more so than in the dot-com bubble. That sector was demolished and life went on.In contrast to real estate holdings, the dot-com companies often consisted of no real property, no real chattel, and in many cases very little intellectual property. It really was a bubble. There was virtually, (pun intended), no substance to many of the companies unsuspecting investors were dumping money into as those stocks rallied and later collapsed. There was nothing left of those companies in the aftermath because there was nothing to them when they were raising money through their publicly offered stocks. So, just like when you blew bubbles as a little kid, when the bubble popped, there was absolutely nothing left. Not so with real estate, which by definition, is real property. There is no real estate bubble! Real estate ownership in the United States continues to be coveted the world over and local markets will thrive with the Arizona Real Estate market leading the way, as the country’s leader in percent population growth, through the year 2030.As for the sub-prime “crisis”, we have to take a look at the bigger picture of the national real estate market. To begin with, remember that mortgage delinquency problems affect only people with outstanding loans, and more than one out of three homeowners own their properties debt-free. Of those who have mortgages, approximately 20% are sub-prime. 14.5% of those are delinquent. Sub-prime loans in default make up only about 2.9% of the entire mortgage market. Now, consider that only 2/3 of homeowners have a mortgage, and the total percentage of homeowners in default on their sub-prime loans stands at around 1.9%. The remaining two-thirds of all homeowners with active mortgage prime loans that are 30 days past due or more constitute just 2.6% of all loans nationwide. In other words, among mortgages made to borrowers with good credit at application, 97.4% are continuing to be paid on time.As for the record jumps in new foreclosure filings, again, you’ve got to look closely at the hard data. In 34 states, the rate of new foreclosures actually decreased. In most other states, the increases were minor — except in the California, Florida, Nevada, and Arizona real estate markets. These increases were attributable in part to investors walking away from condos, second homes, and rental houses they bought during the boom years.Doug Duncan, chief economist for the Mortgage Bankers Association, says that without the foreclosure spikes in those states, “we would have seen a nationwide drop in the rate of foreclosure filings.” In Nevada, for instance, non-owner-occupied (investor) loans accounted for 32% of all serious delinquencies and new foreclosure actions. In Florida, the investor share of serious delinquencies was 25%; in Arizona, 26%; and in California, 21%. That compares with a rate of 13% for the rest of the country. This makes for some great buys for the savvy Arizona real estate investor in the area of short sales, foreclosures, and wholesale properties.Bottom line: Those nasty foreclosure and delinquency rates you’re hearing about are for real. But they’re highly concentrated among loan types, local and regional economies, and investors who got their foot caught in the door at the end of the “boom” and are just walking away from those poorly performing properties. Most of those investors still have homes to live in, maybe more than one.In the wake of the boom years, we now have a high inventory of homes on the market, Investors and speculators who quickly bought up homes dumped them just as quickly back on the market in hopes of a fast return. The frenzy of investors purchasing homes put pressure on inventories and drove prices up, further increasing investor activity. Then, as if all at once, many of those investors put their properties on the market, creating an imbalance in the reverse direction. With so many homes on the market, prices began to stall and then fell. Prices will continue to fall until demand chews up excess inventories.With investors no longer a big part of housing demand, primary homeowners are slowly chipping away at the existing inventory. The Las Vegas housing market will rebound in March 2008, according to the largest and most respected appraisal firm locally. The main contributing factor to the sooner than later rebound of this southwestern city is a growing population and thriving local economy.Arizona and Nevada are expected to lead the country in percentage population growth for the next 20-25 years. The population of Arizona is expected to approximately double during that time so we can expect a strong housing demand going forward. Normal inventory levels for Phoenix real estate are about 6-8 months. Current inventory is about 10-12 months. So, we are not far above “normal” inventories in Phoenix. There are, however, outlying cities in this large metropolis that have inventories in excess of 1 year. Queen Creek real estate inventory is the worst with approximately a 2-3 year surplus of homes on the market, mostly due to the large percentage of new homes purchased by investors and then quickly flipped back onto the resale market. Surprise and Peoria real estate markets have a 1-2 year inventory for largely the same reason. We are already seeing some Scottsdale real estate and Paradise Valley real estate prices increase in value. Billions of dollars are being poured into the local economy in the way of commercial development from the downtown area to Northeast Phoenix and Scottsdale.The demand for Arizona homes will remain strong in years ahead as new populations create the need. The demand for housing across our great nation will remain strong as this next generation of young debutantes steps onto the home buying stage. Interest rates are still at historic lows and the lending institutions will continue to offer creative financing options. Sure, some hedge funds lost the air in their tires, but financing sub-prime loans is a high stakes game for the super rich and is not of geopolitical significance. They will find other ways to lend their billions for huge profits in the wake of this sub-prime debacle. Let’s not be gripped in the fear created by reports from all media types trying to “make news”. Let’s face it, the real numbers are not that bloody exciting. Ask yourself, is this an Arizona real estate crisis, or the perfect time to buy an affordable Arizona home? Proper timing and negotiating techniques make all the difference in the current Arizona real estate market. When choosing an Arizona realtor, trust the expertise and experience of Equity Alliance Properties.

How CIOPEA Impacts The Real Estate Market – Real Estate Marketing

After more than a decade, spent, as a Real Estate Licensed Salesperson, in the State of New York, I have come to realize, the challenges, intricacies, and many factors, which have a demonstrable, impact, on what, we refer to, as the real estate market. There are a number of factors, and considerations, which, often, determine, whether it is a buyers, sellers, or neutral, housing market. I have broken these up, into, an easy – to – remember, mnemonic, which I refer to as CIOPEA. With that in mind, this article will attempt to briefly examine, consider and review, what this represents, and why, it’s significant, and focused.1. Competition: The most reliable way, to determine, objectively, the best way, to price, a home, for sale, is to keenly, look at the competition, and use a professionally designed, Competitive Market Analysis, commonly referred to, as a CMA. This helps us differentiate between a buyers, versus, sellers market, based, not only on the housing inventory, but, on the market, for homes, in a similar price range, with similar figures, in your local area!2. Interest rates: Pay attention to overall interest rates, and public policy, especially, as it relates to the Federal Reserve. When these rates go up, mortgage rates, follow suit. Because most buyers, use financing, as a major component/ factor, in purchasing their house, when these rates go up, the monthly costs/ carrying charges, increase. Potential buyers face additional challenges, when it relates to increasing monthly costs, both, in terms of their ability to repay, and feel comfortable, as well as qualify for the loan.3. Overall economic condition/ outlook: When public confidence is high, in the overall economy, more qualified buyers, seek to purchase homes. When there are more buyers than sellers, it’s a buyers market, and, when more homes, are listed in the market, and fewer potential buyers, it becomes a buyers market.4. Perceptions: Quality real estate professionals address, and seek to balance, and control, the perceptions of homeowners, as well as buyers! When people perceive things, as they are, in a somewhat accurate way, their expectations, become far more realistic.5. Expectations: When one represents a buyer, he must explain the market, and competition, so there are realistic expectations, from the onset! When a seller has a realistic focus, he avoids the tendency of over – expecting, and thus, pricing too high, and being inflexible!6. Anticipation: While hiring the best, real estate agent, for you, is essential, and important, on many levels, perhaps, the experience and advice provided, so you are prepared for the challenges and possible stresses, of the process, are the most essential services, provided!When you consider, and understand the CIOPEA, of real estate, in terms of buying, and selling, the process, becomes a far simpler one. Will you be up to the task?

Real Estate Marketing: Power Up Your Prospecting For 2007 Success – Real Estate Marketing

With every deal, agents have the opportunity to gain transaction knowledge and improve skills in negotiating, legal and regulatory matters. On the other hand, many agents focusing on transactions find it challenging to fit marketing activities into their day-to-day routines.Though the past few years have been characterized by quick sales, rapid price appreciation and record commissions, this prosperous period has had an unexpected downside – many residential real estate pros enjoying their success neglected the marketing basics that are crucial for long-term success. Today, many agents are reevaluating business plans to meet the challenges of slowing markets, increased competition, and emerging technologies. Here are some questions agents might ask to see if their marketing efforts are on target in 2007:o Research the National Association of Realtors calls a “troubling disconnect” shows that nearly 80 percent of buyers begin their home search on the Internet, but less than 10 percent of real estate marketing dollars are spent online. Most agents are willing to increase Internet marketing activities, but are not sure which online channels and activities will produce the best results.o Do your marketing materials pack that visual impact? Many agents simply print, copy and paste material from the MLS and other sources that were never intended for consumers. A high percentage of property listings still appear without photos. Today, consumers have higher expectations and want maps, images, and current data wrapped up in a professional presentation. Younger consumers who grew up on video games and 3D graphics strongly respond to color and visual impact. Agents who understand this can use high-impact materials to stand out from the crowd.o There are many online sources for consumers to obtain information on individual properties. But what about neighborhood and community information? By a wide margin, buyers rank neighborhood quality as the most important factor when deciding where to purchase a home. By providing neighborhood expertise in addition to individual property knowledge, agents can gain a competitive advantage.o Ready for the end of one-size-fits all marketing? One of the most successful tactics for online marketers is segmentation – developing multiple marketing messages to target specific customer profiles. Today, the U.S. population – and probably your own neighborhood – reflects more generational and racial diversity than ever. That means you need to know your audience and personalize more than ever. It’s a challenge because what works for empty nesters probably won’t resonate with generation Y buyers coming into the market. It’s an opportunity because real estate niche markets can be very profitable, even when broader market conditions are trending downward. Focus on marketing and prospecting Real estate marketing and lead management have changed dramatically in the past few years. As Web technology advances, people are able to perform more tasks related to buying, selling and home ownership online. Naturally, more real estate marketing activity has moved online to capture these consumers.Unless you’re fortunate enough to work in an office with a proven lead generation/management system, you’ll need to develop these skills to build your real estate practice. Putting aside the larger debate about lead aggregators and which types of leads are good or bad for the industry, the source of leads is an important consideration.Before the Internet, real estate leads came from referrals, cold calling and open houses. They were usually self-generated and each received a personal follow-up. Contacts generated from databases or Internet may or may not be self-generated, and it’s often not practical to follow up on them on a case-by case basis.They could originate from your agent website, or be purchased from any number of third-party lead sources. Their quality may vary depending on how the lead was captured and other factors. When leads are not generated through your own marketing activities, you must take steps to make them your own:o Have a system in place to manage your lead pipeline – often shown as a funnel – to ensure you’re taking advantage of every lead that comes your way.o Measure the cost and quality of leads from various sources to determine which types of leads work best for you.o Handle leads quickly and efficiently so that lead generation and conversion becomes part of your day-to-day agent routine.