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Old School Marketing

Quality of listing photography directly linked to agent income

Listing photography that is poor generates lower revenues for brokerages, but professional photography is directly linked to higher incomes, this new study claims.

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housing

Photography rules. Just look at any social media network to know that pictures get the most likes and shares. Instagram is one of the hottest platforms and it keeps growing while Facebook seems to be flat-lining. Although there have been numerous studies about using professional photography when selling real estate, REAL Trends and Virtuance just definitively linked its use to better sales and higher commissions for your business.

REAL Trends surveyed 437 top-producing real estate brokerages and agents from across the United States, requesting their 2014 data. They just released their white paper with the results which clearly demonstrate the value of professional pictures.

Surprisingly, one of their findings was that not all of the brokers that were surveyed were using professional photography to drive sales. Only about half of the agents always used professional pictures.

The white paper states to practitioners that “You have a duty to your seller” to have the best pictures on the MLS listings.

Seems obvious, but it’s not for everyone

One of the reasons behind using professional photography was to present a good first impression, which seems to be one of those “duh” moments. Everyone understands the importance of curb appeal, and in today’s technology that begins with the listing. One of the other reasons behind using a professional photographer is that it uses the agent’s time more effectively. Consider how long it takes you to take pictures that do what you need as opposed to someone who does it all the time.

The study also found that professional photography drives online traffic, which makes sense, and 75 percent of the agents felt that it shortened the time a house spent on the market.

What happens if photos are the focus?

One brokerage makes professional photography a focal point in their marketing plan. They were in the top 10 in their market, so they have a point. Professional pictures not just make a good first impression of the house, it also makes a good impression for your brand. When sellers are looking for a Realtor, they are going to look at one that gets results and presents their home well.

Agents who consistently used professional photographers made about $8600 per transaction, which the reports states is 100 percent more in GCI than those who don’t use it. Agents who only used it intermittently still averaged about 46 percent more in GCI than those who didn’t. Bottom line, it pays to invest in a professional photographer.

#Photography

Dawn Brotherton is a Staff Writer at The American Genius, and has an MFA in Creative Writing from the University of Central Oklahoma. Before earning her degree, she spent over 20 years homeschooling her two daughters, who are now out changing the world. She lives in Oklahoma and loves to golf. She hopes to publish a novel in the future.

Old School Marketing

This simple questioning technique will help you convert more sales

Will you read this article? According to the latest research, if you got as far as reading that question, the answer is more likely to be, “yes.”

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leadership

Will you read this article? According to the latest research, if you got as far as reading that question, the answer is more likely to be, “yes.”

The study was published in the Journal of Consumer Psychology. Researchers at the University of California, Irvine, found that asking someone a question about a behavior made much more of an impact than telling someone what to do.

Just asking someone a question about a behavior increases the likelihood that they’ll do it.

It’s called the question-behavior effect. According to lead researcher, Eric Spangenberg, the question-behavior effect is most notable when the question encourages behaviors that are already socially celebrated. For example, will you try to eat healthy in 2016? Will you exercise today?

Exactly why questions are more effective than statements remains unknown, but it probably has to do with the mindset of the answerer. If someone tells you, “you should volunteer for this charity” you are more likely to bristle at being told what to do, rejecting the authority and advice of an outside opinion.

But when asked, “will you make a donation?” even if you don’t answer right away, you become more open-minded to the possibility.

Your options become expansive, rather than set, which makes you feel empowered and self-confident that you can make a positive decision for yourself.

The study also found that the effect was strongest when questions were administered through a computer or on paper, rather than orally, and when the question called for a direct “yes” or “no” answer. Perhaps having to type out or write down an answer made people feel more accountable to following through with the behavior.

Could you use the question-behavior effect to improve your business? (You see what I did there?) Asking an employee, “will we see your report in time for the deadline?” may just increase the chances that you will. And perhaps asking if your customer wants to purchase your product will put them in an open-minded state to say yes.

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Old School Marketing

MailSnail helps you quickly design, send, and manage direct mailers

MailSnail is a new startup aimed at simplifying your direct mail campaigns and allowing a new level of customization; worth checking out.

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Although most companies have abandoned direct mail for more cost-effective email, you shouldn’t discount this valuable tool (most Realtors don’t). The majority of the people that get emails don’t actually open them or spam filters snag your email before it ever reaches the intended inbox.

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While direct mail is more expensive than email, it still works. Direct mail allows you to reach high level customers and prospects that don’t open emails. It also helps reinforce your email message and reminds your customers of the offer you may have emailed them. Plus, with fewer people using direct mail, you’re better able to stand out among your competition.

Direct mail simplified

However, direct mail is complicated. Many factors contribute to its success or failure, which makes it difficult to do effectively in-house. This is where new company MailSnail comes in. The startup takes the hassle out of direct mail. You don’t have to worry about finding a designer, a print-house, a mail-house, or even customers. MailSnail takes care of it all for you from their easy to edit design templates, to printing and delivery of your custom mailer.

MailSnail lets you craft your mailers to your specific needs. You can choose one of their templates and add content to create a custom mailer that fits you. You can also upload your own design.

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Schedule ahead of time, customize fully

MailSnail also lets you schedule your mailers ahead of time, so you can send your direct mail when you need. Other features the company provides is the ability to segment your customers for easy management and send geographically targeted mailers to new potential customers.

The startup also touts their ability to send a mailer to any size audience. Send your customized mailers to thousands of addresses or only a handful – it’s completely up to you.

MailSnail gives you the power of direct mail without the hassle. While the startup hasn’t officially launched, if you’re interested in trying the service, you can sign up on their site to get beta access.

#MailSnail

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Old School Marketing

There’s still one reason people look at newspaper ads; is your brokerage meeting their needs or ignoring them?

Most think the printed newspaper is on its way into extinction, but many wallet-holders are still flocking to newspapers, but why?

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newspapers

We’re living in the digital age, so more likely than not, your business is relying heavily on internet marketing, leaving behind those old newspaper advertisements.

But wait, not so fast. According to the latest marketing research, there may still be some value to providing discounts and coupons via local newspapers. An August 2015 study by CreditCards.com found that newspapers are still the most popular source for discounts and coupons amongst price-conscious consumers.

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They found that 37.7 percent of female respondents, and 30.1 percent of male respondents cited newspapers as their go-to for finding discounts and coupons, compared to the internet, snail mail, email, or direct offers from banks and credit cards.

Breaking the stats down by age

However, the picture becomes a little more complicated when you break down the statistics by age. The CreditCards.com study revealed that consumers ages 18 to 49 are mostly getting their discounts from the internet. Youngsters under age 34 are also more responsive to coupons in their mailboxes than to newspaper coupons.

For all respondents over age 49, on the other hand, newspapers were their first source for coupons, leveling out the average such that newspapers still rank number one when all age categories are combined.

A similar August 2014 study by Valassis, a direct mail marketing service, found less variation across age groups, with millennials, gen Xers, and baby boomers all stating that they used paper coupons far more than digital ones.

Gender and income influences

Shoppers with higher incomes don’t seem to worry much about finding coupons and discounts, whereas lower income shoppers rely on them heavily.

Nonetheless, the CreditCards.com study found that 30.6 percent of female internet users use coupons when shopping for their day to day amenities. That’s nearly twice as much as men, of whom only 16.8 percent use coupons regularly.

An overlooked opportunity?

In short, it appears that supplying discount offers and coupons in your local paper may not be such a bad idea, especially if your customer base is largely female, and over the age of 50.

While advertising a multi-million dollar listing may not yield results, inserting a coupon for a free analysis or an offering to waive $500 off of closing costs, could be a tool your competitors are ignoring. Time to open up a newspaper to see if there’s opportunity for your brand.

#Newspapers

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