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Real Estate Marketing

Study: Marijuana legalization has no negative effect on property values

(REAL ESTATE MARKETING) Wondering how the growing legal marijuana business has changed the real estate world? The National Association of Realtors® has answers!

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marijuana worker

Recently, Illinois became the 11th state to legalize marijuana. 33 states – including Utah, of all places – allow for the use of medical marijuana. No doubt, Illinois won’t be the last in this train of legalizations, which have started to bring up a number of changes for various industries. When it comes to real estate in particular, there are real questions about what this means for the future.

Jessica Lautz, Director of behavioral and demographic trends at National Association of Realtors® (NAR), explains the importance of studying the effects of legal marijuana on the real estate industry: “Whether it is influencing property values, the number of all-cash purchases or demand for various types of commercial properties, it is clear that this billion dollar industry is making an impact.”

Thankfully, the NAR has put in the work to begin to answer some of these questions. Their brand new survey – which you can access here – collected responses from about 4,000 NAR members who operated in states with some form of legalized marijuana usage, whether medical or recreational. They provide insights into changes the industry is facing and may continue to face as marijuana usage spreads.

The survey explores facets of commercial and residential real estate, including the effects of owning property near a dispensary, how often tenants grow their own marijuana and whether or not a home is harder to sell if the inhabitants were smokers, among other issues. NAR provides the statistics in easy to digest text snippets and graphs, making the study an accessible read for anyone hoping to gain a better understanding of the shifting industry.

If you’re worried about the budding marijuana industry (sorry about the pun) negatively affecting your business, you can breathe a sigh of relief. While some people have reported increased troubles surrounding the intersection of marijuana and real estate, most surveyed insist there has not been any noticeable change! Aside from a few tweaks here and there for how business operates, it appears to largely be smooth sailing for realtors.

Interested in learning more? You can check out the full survey report at the NAR’s site.

Brittany is a Staff Writer for The American Genius with a Master's in Media Studies under her belt. When she's not writing or analyzing the educational potential of video games, she's probably baking.

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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