R.A.D.A.R. ~ What Does This Have To Do With Your Sphere Of Influence?

By
Real Estate Agent with Coldwell Banker Residential Brokerage NRDS # 146013739
http://actvra.in/4Y5K

Top Producer and Active Rain are sponsoring a contest “Identifying Opportunities From Within Your Sphere” or CRM. Here is my entry for the contest!


 

 

 

What is RADAR?

 

The New Oxford American Dictionary defines Radar:

  • Used to indicate someone or something has or has not come to the attention of a person or group. 

My Definition

Read And Develop All Relationships

The real estate market in Sedona is a place for those to come and retire or have  a second home.  Many of my customers are looking for homes they can rent out or live in during the winter or summer months depending on where their main residence is located.  Anyone who is preparing for retirement may not feel hurried to purchase a home in Sedona.

Red Rocks Fever

They may feel they have time to save, or develop their strategy of how they are going to pay for this home. This generally means they may not be ready on the first visit.  They just know they are going to purchase a home here. Many of my customers just can't get enough of the red rocks. 

Needs & Wants

When a customer is purchasing a second home or a home they will eventually retire to, they have developed specific criteria as to what they need and want in this home.  My job is to be able to READ between the lines and hone in on the specifics.  These "specific needs and wants" may change over time. 

Determine The Time Frame For Purchase

I ask a series of questions. I want to know how serious they are. I ask them if they are pre-approved or pre-qualified. This tells me the degree of preparation they have made. I will ask also, their time frame. I also inform them of our market condition. Our market home values rise slower than some of the metro areas. The problem is, that the homes are still going up and your savings will most likely not cover the rise in prices if you wait too long. 

I just recently sold a home to a customer who I had been working closely with for 3 years. 

Realtor.com

Many of my customers in My Sphere of Influence come from 4 areas.

  • Realtor.com - 18% - I have tried other areas of paid leads and have not had much luck.  Realtor.com are Ads 
  • Listing Signs - 24%
  • Referrals - 35%
  • Other - 23% 

Knowing this information allows me to create a plan of action on future business. You need to know where your business is coming from. 

How Do You Keep Customers Engaged For Long Periods Of Time? 

  • Calls - Based on the initial qualification discussion, I determine a communication calendar on when to call my customer for follow up discussions
  • Weekly "stay in touch" calls to a different segment of my sphere. 
    • During lull times - Use that time to schedule these calls.
  • Stay in touch with RE agents who may have properties that fit your customers expectations. 
  • 2 Monthly Newsletters 
    • Happy Grasshopper (every 3 weeks) provides a light touch that can be customized for your particular call of action for that month.
    • Another monthly news letter that has specific home information stories. Again, this is customized for my subtle message.
    • I also will be sending 2 Holiday cards.  
      • Thanksgiving card - thanking my customers. (see below)
      • NO XMAS CARD - There are too many cards during the holidays where my card will get lost in the mix.  
      • Send a New Year card - Success and Inspirational message to start 2017. I will send this the first week of 2017. 
      • IDX - explained below.

Thanksgiving card

Front of Card


 

Sheri Sperry Remax Sedona


 

Back of Card -Inserted into hand written envelope. 

 


 

IDX - Secret Weapon for Customer Engagement

I have a CRM and my IDX acts as a lead generator.  I use the IDX to see what properties my customers are looking at and I send them new listings that fit their criteria.

  • Creates a dialog based on the homes sent.
  • Allows me to fine tune my customers priorities.
  • Keeps home search in fore-front of the customer's mind.
  • I adjust my calls based on customer engagement in the IDX.  (I use IDX Broker Platinum)

 


 

Final Thoughts - CRM

I have had a CRM my entire time in real estate.  I weed the contacts based on how I see the lack of engagement.  A new agent or an agent who does little business may not see a need to use a CRM.  I believe it is best to start out the gate with a vibrant CRM. Otherwise you will be scrambling in the future to remember everything you have to do and the contacts you need to make. 

You may not see big gains in customers if you can't retain them!  I am in the process of hiring an assistant to help me with many of the tasks that do not involve direct customer contact. 

So I hope this answers the question about RADAR. It is a must to:

Read - be able to detect what your customers needs and wants are

And

Develop - utilize the tools to refine your customers needs and wants

All - every customer offers a chance at a sale or a referal for a sale

Relationships - a state of being connected to people

 

close

Re-Blogged 1 time:

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Ambassador
3,106,229
Praful Thakkar
Keller Williams Realty - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Perfect acronym this R A D A R is, Sheri Sperry - MCNE®.

It's all about being connected with people, isn't it?

Nov 09, 2016 03:30 AM #24
Rainmaker
3,328,027
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Congratulations on the featured post. Thank you for sharing the great tips.

Nov 09, 2016 05:35 AM #25
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Sheri I never looked at it as a RADAR before but it makes sense.  Congratulations on a well deserved feature.

Nov 09, 2016 08:15 AM #26
Rainmaker
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Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Sheri Sperry - MCNE® "When a customer is purchasing a second home or a home they will eventually retire to, they have developed specific criteria as to what they need and want in this home.  My job is to be able to READ between the lines and hone in on the specifics.  These "specific needs and wants" may change over time."

Right on target - and - re-blog!

Nov 09, 2016 08:38 AM #27
Rainer
8,519
Albert Clark
Scranton, PA
Helping Agents Get and Stay Relevant

Sherri, I have ben helping agenst with SOi marketing for 17 years, having launched e Neigjhborhoods and the first ever e-Newsletter in this space. One caution--- please don't forget that 95% of your sphere is NOT in transaction mode- so hitting them with mortgage rates and listings does not always come across as relevant.. You are right   recent homesales in their 'hood, is always great. ( we help the agenst use RPR)  Lastly, the definition of SOI- These days is it just past clients and close friends..?  many we work with mobilze and nurture every email address they can get their hands and.. Get people from stanger to Top Of Mind awareness. I like the RADAR Concept!  Good Post / Thanks

Nov 09, 2016 09:57 AM #28
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Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

A very well deserved feature on your program for keeping your business active and rewarding.

Nov 09, 2016 10:03 AM #29
Rainmaker
1,223,452
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
your real estate writer

I have no desire to move, but would love to come and see your red rocks.

Just curious - there must be some people who live there year-round. Are any of them your clients, or do you mainly work with 2nd home buyers? 

 

Nov 09, 2016 12:43 PM #30
Rainer
328,278
Dörte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton

Dear Sheri,

Your method for staying in touch with people makes good sense.

Nov 09, 2016 03:58 PM #31
Rainmaker
563,793
Olga Simoncelli
Veritas Prime, LLC - New Fairfield, CT
Broker-Owner, RE Consultant, Licensed in CT & NY

I like the acronym!

Nov 09, 2016 08:31 PM #32
Rainmaker
254,753
Teri Pacitto
RE/MAX Olson & Associates, Inc. - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

Staying in touch is definitely key to maintain the client and the connection. Thank you for sharing your insight.

Nov 09, 2016 10:21 PM #33
Rainmaker
431,565
Nick & Trudy Vandekar
Long & Foster Real Estate Inc - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Nice explanantion of customer engagement and relationship building. Like your ideas for stayting in touch with customers and the twice monthly emails.

Nov 09, 2016 10:34 PM #34
Rainmaker
1,336,279
Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC
Waters Realty of Brevard, LLC - Rockledge, FL
... a small office, delivering big service!

RADAR sounds like a real useable plan... This business is all about personal touch and relationships.

Nov 09, 2016 10:57 PM #35
Rainmaker
225,319
Peter Mohylsky
BETTER HOMES AND GARDENS REAL ESTATE - Santa Rosa Beach, FL
Your Bucket List Broker in Destin, Fl..

I like it alot.  My hats off to the author.  Some really great ideas.  

Nov 09, 2016 11:16 PM #36
Rainmaker
511,578
Harrison K. Long
HomeSmart, Evergreen Realty - Irvine, CA
REALTOR , GRI, Broker associate, Attorney

Sheri ... Thanks for your post about RADAR, which is your approach to marketing to your sphere - and presents excellent ideas.

Nov 10, 2016 12:39 AM #37
Rainmaker
559,684
Mike Bjork
American Pacific Mortgage - Redondo Beach, CA

Great Acronym for your system, Sheri!  If you're not managing your database, then somebody else will!  Best to have a system in place to keep in contact with prospects, current and past customers.  Great job!

Nov 10, 2016 01:06 AM #38
Rainmaker
1,725,116
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

That's interesting that realtor dot com is paying off for you. Every market is different. I sent you an email about a typo.

Nov 10, 2016 04:20 AM #39
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORs® in Clark County, WA

Hi there Sherri, I also appreciate the RADAR acronym. I also think your touch system sounds like a winner. I may look into REALTOR. com, I refuse to use Zillow. :) 

Nov 11, 2016 12:06 AM #40
Anonymous
Anne Corbin

What CRM do you use?

Nov 11, 2016 10:56 PM #41
Ambassador
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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Congratulations on your featured article. We are looking forward to the next one.

Nov 13, 2016 09:53 PM #42
Rainmaker
747,700
Jan Green
RE/MAX Excalibur,Scottsdale, 602-620-2699 - Scottsdale, AZ
RE/MAX Excalibur, REALTOR®, EcoBroker, GREEN

Excellent advice Sheri!  You nail down the exact reasons you are able to hire an assistant, repeat business!  Building that volume is essential to staying busy and getting those warm leads and repeat business. Kudos!

Nov 14, 2016 12:31 PM #43
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Sheri Sperry - MCNE®

(928) 274-7355 ~ YOUR Solutions REALTOR®
Don't know Sedona AZ? Let me answer EVERY question! Call me!
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