How Market Reports Can Boost Your Business
Here’s a little experiment:
What if your neighbor asked you to invest $10,000 in a new company he says is going to be the next Google. Would you do it, on his suggestion alone? I sure hope not.
If your brain was working properly, you would, at a minimum, want more information – preferably a lot more information for that kind of money.
The scenario offers a good lesson for you in deciding how you should go about marking your real estate business. Especially today – smack dab in the middle of the information age.
The lesson is as simple as this: people need good information to make good decisions.
How are you keeping potential new and past clients informed? Or, are you at all? If not, keep reading.
As a REALTOR, you know better than anyone how this industry can get buffeted by the economy’s erratic winds. Things change – sometimes faster than we want. But it’s your job to stay up on as many of the changes as you can, and not just keep up with them, but to share them with the public.
Just by the act of sharing information itself, you’re making a smart move. Why? Because buyers and sellers want to work with professionals who know and understand the market. You become seen and known as the expert. If you’re sharing information, believe me, your stock is going up in the minds of your target markets.
To keep that stock rising, I recommend sending out regular market reports to your farm area, past clients, the media and to any others who might lead to business for you. And here are a few ideas on what you might include
- Comparable sales and other market stats for the year along with pictures if available
- Quotes from local experts on local real estate market trends
- New services or plans in the area
- Assessor’s maps or title company information
- Economists thoughts on prices and interest rates
- School news, sporting events, plays, concerts etc.
- And your listings, of course!
But I also recommend tossing in some lighter fare (especially for your farm area).
- Stories and quotes from residents in the community about their lives in the area.
- Reviews of local restaurants and other businesses or services in the area
- Information on fun and inexpensive leisure activities
- Gardening tips, barbecuing ideas, etc.
As you can see, some of the items lead to interaction, which is one key reason for sending the reports in the first place. They help you build a rapport with readers. You want them to respond, not only with ideas for your reports, but with questions about real estate. Again, you slowly but surely become the “go to” expert on real estate matters. Exactly the position you want!
So in every edition, include strong calls to action for several items in the report – be they recipes, special events or more information or your real estate services.
And go for a distinctive look that lets you stand out far above what the competition is sending – probably dull postcards and clichéd flyers. You might consider an aerial photo of the farm area, a picture of an unusual or well-known landmark from the area or even one of your current listings.
But remember, the secret ingredient to making this all work really well is the quality of information. Make it interesting, informative and above all, useful.
Let me know what’s on your mind. Have you had success staying in front of clients with tools that are similar to market reports? Send me an e-mail at Bob@CorcoranCoaching.com.
Bob Corcoran is a nationally recognized speaker and author who is founder and president of Corcoran Consulting Inc. (CorcoranCoaching.com, 800-957-8353), an international consulting and coaching company that specializes in performance coaching and the implementation of sound business systems into the residential or commercial broker or agent’s existing practice.
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