I wanted to share with you the newest marketing idea my company has come up with. It is called the "Winner's Circle" I guess based on the fact we are in the Louisville area and home to "The Greatest Two Minutes in Sports".
Basically it is a pool drawing. Agents can go to their sellers and ask them if they would like to participate. The cost of the promotion is $250 which most sellers are willing to pay. If they don't want to pay, I've seen the agents have them consent anyway with the exception that the agent will pay for it out of their commission. The fee obviously isn't due until closing.
Once the seller has consented and signed the form, the property is marketed as a Winner's Circle home. What that means is that whoever sells the the home(buyers agent), that broker will be entered into a pool with a chance to win $10,000. The drawing takes place after 44 Winner's Circle properties have closed. After that, the process starts over again.
What a great motivator for agents. I know if I sell a Winner's Circle home that I will have a 1 in 44 chance to win $10,000. I don't understand why every Semonin agent doesn't have all their properties listed this way.
Another note is that we are the largest firm in the Louisville/Southern Indiana area, so it doesn't take very long to close 44 properties. We have about 800 agents in our company and I know they have already had one drawing. We just started this less than two months ago.
I thought some of the other brokers on here might like this idea.