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Real Estate Marketing

If 3 out of 5 homeowners say they’ll never move, how can you convert them?

(EDITORIAL) An increasing number of people love homeownership so much they say they’ll never move, tightening inventory levels – how can you convert them?

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sentiment analysis

We’ve talked a lot lately about the biggest challenges to home sales today – rising prices, a lack of availability, and affordability. One of the easiest ways for our nation to alleviate the pressure is for more homeowners to decide now is a good time to sell.

But a new Bankrate.com survey unveiled that 62 percent of homeowners say they don’t intend on moving. Ever.

And another 17 percent say they don’t intend on moving for at least another five years.

The survey also indicates that homeowners are almost twice as likely to remodel than move homes. Fully 35 percent said they’d rather remodel in the next five years than move, while only 19 percent said they’ll move during that time frame.

Yes, investors could let go of some of their inventory, and builders could increase theirs, but this indicates an post-recession societal change as our economy strengthens and Americans sit on their largest investment as it appreciates.

So what can the real estate industry do to convert some homeowners into selling, rather than sitting?

It’s tricky, because one in five homeowners own their homes outright. But of the four out of five that don’t, Realtors are already farming for business through timeless marketing efforts such as direct mailers, ads, flyers, and of course, through social media marketing.

To little avail.

Why? Because the market primarily consists of “hire me” flyers with an agent’s face on it. That will never convert someone that says they’ll never move.

But data will.

We spoke to an agent in Dallas who is converting better than nearly anyone in her market, and she does so by emailing stats specifically to current homeowners that focus on the reasons to sell. She includes national statistics about how much cash Americans are sitting on via their homes, and offers hyperlocal sales data.

But how is that different from what everyone else is doing?

Three things that differ – (1) she translates that data instead of sending charts and hoping they’ll come to their own conclusion, and (2) she sends info on the specific property that person lives in, noting the value they’ve gained since moving in, and offers comparable properties for sale that they could consider if hoping to downsize or upgrade, and (3) she tells stories of clients that have put their gains into different investment vehicles and will retire comfortably.

Data is powerful, and successful practitioners know how to use it (especially given how readily available it is via tools at their disposal like Realtors Property Resource), but so few make it personal and translate it for consumers, putting it into layman’s term.

Convert by taking that extra step in translating and presenting data meaningfully to consumers – offering a chart isn’t enough today, especially if someone has already dug in their heels and plans on never moving. And if you find yourself saying little more than “now is a good time to buy/sell,” fire yourself.

The American Genius' real estate section is honest, up to the minute real estate industry news crafted for industry practitioners - we cut through the pay-to-play news fluff to bring you what's happening behind closed doors, what's meaningful to your practice, and what to expect in the future. Consider us your competitive advantage.

Real Estate Marketing

New service seeks to make cold sales suck 800% less

(REAL ESTATE MARKETING) This one service can help you get a jump on creating or expanding your business through cold sales, lead generation, and management.

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cold sales tool

Cold sales are perhaps the most loathed aspect of any marketing process, a fact made worse by their sheer necessity for upward mobility and the lack of intuitive or convenient software for executing the sales. A full stack outreach program by the name of Mails.wtf may have a solution for at least one of those problems.

Mails.wtf — yes, you read that correctly — is a cold sales tool that offers nine individual tools for generating leads without needing to open a different service or outsource your marketing along the way.

On the surface, it’s a perfect way to consolidate the nasty business of hooking new clients — a process that sucks for so many reasons before you even discuss clunky UIs or unfriendly software suites.

The process begins, feasibly, with the built-in email finder–a service that, like its name suggests, allows you to look up potential leads by name and company. If that isn’t enough, Mails.wtf also offers website extraction, LinkedIn integration, company lookup, and domain search engines to help you generate as many actionable leads as possible from within their interface.

Once you have all of the email information you need on-hand, Mails.wtf has a couple of different options for automating and tracking your cold sales, including click, open, and reply logging. While some of these metrics may be offset by a growing awareness of pixel-tracking and many browsers’ decisions to block these kinds of trackers by default, there’s no denying that the Mails.wtf platform is comprehensive.

A lot of the Mails.wtf allure seems to come from its simplistic presentation of tools and information, and though the platform may appear to be bare-bones to veterans of the cold sales process, maybe it’s time to scale back. If so, this service is on the right path.

Upon signing up for Mails.wtf, you’ll be offered 100 free B2B (business to business sales) leads which doesn’t pertain to real estate, but perhaps the fact that this is NOT a real estate tool could put you ahead of competitors sticking to technologies everyone else in the biz is already using.

$99 per month earns you the full suite of tools and support, but you can spend about $2,000 for personalized help from the Mails.wtf team themselves. If you’re looking for a new cold sales platform with minimal setup and an intuitive interface that the industry hasn’t yet adopted, this is a strong contender.

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Real Estate Marketing

No-reply emails: the modern-day horror story (don’t use them!)

(MARKETING) No-reply emails may be easy to set up and distribute for customer service, but it may actually be creating a problem with a simple fix.

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emails ugh

Let me tell you a modern-day horror story.

You finally decide to purchase the item that’s been sitting in your cart all week, but when you receive your confirmation email you realize there’s a mistake on the order. Maybe you ordered the wrong size item, maybe your old address is listed as the shipping location, or maybe you just have buyer’s remorse. Either way, you’ve got to contact customer service.

Your next mission is to find contact information or a support line where you can get the issue resolved. You scroll to the bottom of the email and look around for a place to contact the company, but all you find is some copyright junk and an unsubscribe option. Tempting, but it won’t solve your problem. Your last hope is to reply to the confirmation email, so you hit that trusty reply arrow and…nothing. It’s a no-reply email. Cue the high-pitched screams.

Customers should not have to sort through your website and emails with a microscope to find contact information or a customer service line. With high customer expectations and fierce ecommerce competition, business owners can’t afford to use no-reply emails anymore.

Intended or not, no-reply emails send your customer the message that you really don’t want to hear from them. In an age when you can DM major airlines on Twitter and expect a response, this is just not going to fly anymore.

Fixing this issue doesn’t need to be a huge burden on your company. A simple solution is to create a persona for your email marketing or customer service emails, it could be member of your team or even a company mascot. Rather than using noreply@company.com you can use john@company.com and make that email a place where your email list can respond to questions and communicate concerns. Remember, the whole point of email marketing is to create a conversation with your customers.

Another great strategy for avoiding a million customer service emails where you don’t want them? Include customer service contact info in your emails. Place a thoughtful message near the bottom of your template letting people know where they can go if they’re having an issue with the product or service. This simple change will save you, your customers, and your team so much time in the long-run.

Your goal as a business owner is to build a trusting relationship between you and your customers, so leave the no reply emails behind. They’re annoying and they might even get you marked as spam.

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Real Estate Marketing

Instagram advertisers no longer required to have a Facebook Page

(MARKETING) Instagram no longer needs a linked Facebook page in order to use Instagram ads, is this a split in properties or is something else going on?

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Instagram ads

Instagram will allow new advertisers to create ads without linking to a Facebook page. It feels like this is a move Instagram should  have made a while ago, but better late than never right?

Instagram announced that the social media giant will now allow new advertisers to promote their business, product, or content without having to connect to Facebook.

Previously, Instagram had been adamant about linking business profiles to Facebook, so the change is sudden, and the motive is contentious, buttttttt we’re not gonna question it.

This move supports small businesses, so we’re all for it. Although this change may seem irrelevant, here are five reasons it is:

  1. Previously requiring users to link a Facebook account to their Instagram in order to run an ad is time consuming.
  2. Not everyone has or likes Facebook.
  3. Associating yourself with a Facebook Page creates an additional way for people to get in contact with you, which can make things messy… sometimes less is more.
  4. Creating a business profile without connecting to Facebook will allow more people access to the same great benefits of having a business profile (benefits include insights on impressions, reach, audience, and activity).
  5. Maybe this is the beginning of a separation between the two social media platforms resulting in other new, beneficial policies.

Some have speculated that the reasons Facebook may want to push this slight crack between its products is because of some of their failures recently and the very real possibility of their being broken up by regulators in the future.

Take advantage and quickly set up a business profile, this is a potential opportunity for businesses that are hurting to learn about their customers and promote themselves!

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