Bernice Ross

Fall selling season is upon us. To maximize your production for the rest of 2021, carefully targeting how you spend your marketing dollars is crucial. The process begins by determining which lead generation activities are currently generating the most closed business, determining what activities need to be eliminated, and substituting at least one new source of revenue to grow your business.  

Lead generation is the lifeblood of the real estate business. To effectively target your marketing dollars, devote 80 percent of your time to the lead generation activities that are generating the most closed transactions. Devote the other 20 percent of your time to unique lead generation activities that are seasonal in nature, that are tied to local events, or add a new niche for your business. Here’s what to do. 

First, go through your closed transactions for the last six months and note which lead generation activity generated each transaction. Unless print newspaper advertising, home books and home magazines is one of your top revenue generators, stop following those strategies. They generate virtually zero closed purchases as indicated by research from the National Association of Realtors. Most agents track their revenue rather than how much they net after expenses. For example, if you spent $10,000 on internet leads and only closed one deal with a $12,000 commission, you only netted $2,000. When you make the decision about where to spend your money, always make sure you’re comparing net income, not gross income. 

For the rest of 2021, spend at least 80 percent of your time and marketing dollars on the top three niches for your business. (If you’re not currently tracking this data, start doing so now!)   

Find New Clients 

Hold a client appreciation event featuring one of your clients who has done something extraordinary for the community. If there is no one in your contact database, honor those in your community for their work with a local food bank, helping the homeless, rescuing animals, etc. Invite your clients who share the same interests. People are drawn to and want to do business with those who are like them.  

Another approach is to gather pictures from newspapers and other sources that were taken 50-150 years ago. Interview a local historian about a notable property and post it on the social media. Be sure to include real estate ads with homes for sale and their prices. Almost everyone enjoys talking about how much real estate values have increased plus this approach helps to establish yourself as an expert in the area.  

The Law of Attraction says: “You attract who you are.” For example, if you served in the military, you will probably attract clients who have also served in the military. Here are four niches to consider that account for 61 percent of the total buyer sales:  

• Military veterans: 18 percent (2 percent are active-duty military) 
• Single females: 19 percent 

• Multigenerational households: 12 percent 
• Seniors: 12 percent 

Give First-Timers a Leg Up 

Speaking of veterans, did you know that both first-time and repeat buyers can obtain down payment assistance, especially if they are veterans, educators, firefighters, health professionals or work in law enforcement? 

Down Payment Resource (DPR) aggregates local, state and national down payment assistance programs on their site. These programs help homebuyers add to whatever savings they have to generate their down payment and closing costs. These programs are usually administered by federal, state and local housing finance agencies, nonprofits and some employers.  

For example, when my brother was preparing to sell his house a few months ago, I found over 25 different programs were available for his property on the DPR website. Those programs represented up to $125,000 in potential assistance based upon the buyer’s qualifications.  

Your marketing campaign is simple:  

Want to buy a house but need help with your down payment?
Contact Jane Agent at 800-555-1212 to learn more

Give a Gift, Get a Gift  

Visit your current and past clients and ask for a testimonial about what’s great about living in their area. Post these on your website, LinkedIn, YouTube, and the other social media sites where you are active. 

Wrap up the meeting by thanking them and then asking, “Is there anyone else you know who would also be willing to give me a video testimonial about what’s great about living in this area?”  

Every time someone agrees to give you a testimonial for the area, bring them a gift card or other small token of your appreciation. Once you wrap up, ask if they know anyone else who would be willing to give a testimonial for what’s great about living in this area. Be sure to send the videos to each person who helps you.  

Three primary benefits for using this approach include:  

• You are getting a warm, face-to-face introduction to a potential client for the price of a gift card. 

• Most people will post your video to their social media sites which puts you in front of a whole new group of potential leads.  
• Google interprets these testimonials for the area as testimonials for you! 

The bottom line is that right now is the best time to set yourself up for success for the rest of 2021. Take advantage of it by using the tactics above and make the fall 2021 selling season the best one ever.  

Bernice Ross is a nationally syndicated columnist, author, trainer and speaker on real estate topics. She can be reached at bernice@realestatecoach.com.