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How Wide Have You Cast Your Net? Farming in a Tough Market...

I've ridden some ups and downs in my 8 years of real estate, but the market is tougher than it's ever been in the Raleigh-Durham, NC market. I'm thankful that we still have a steady market without huge drops in value but sales last month were still down 36%. So many factors contribute to that like mortgage restrictions, short sales, buyers pulling back due to media blitzes and negativity, loss of 100% programs and so many other factors, I could go on and on...

So...our team has been looking at alternative sources for leads, listings and past client services. The usual internet presence, print ads and mailers aren't cutting it these days. Buyers have become savvy to "free" home searches off our websites. Sellers don't understand they are up against tons of inventory, short sales and floods of foreclosures.

We are covering more territory to keep sales up.

We are now using a short sale program to generate seller contacts who need help...

We are farming with alternative buyer sources like FavoriteAgent.com...

We are hosting financial planning seminars to help past clients plan for their next move...

We are building a database of homes and blasting all of our clients and investors to match sales to meet sellers and buyers needs...

How wide are you casting your net to catch more fish?

Posted by Erica McClenny on 07/22/2008 11:01 AM

Comments (3)

marketing, buyers, investors, sellers, listing, sales, market conditions

This post has been included in North Carolina Information Wake County, NC Information
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3 Comments on How Wide Have You Cast Your Net? Farming in a Tough Market...

For me, focus on Internet SEO. Keep those web sites fresh and keep Google happy. If you have good Internet synergy, you'll have buyer traffic.

Seller traffic, that's something else. I'd probably work expireds. Goodness knows there are enough of them.

07/22/2008 11:07 AM

by Lenn Harley, Homefinders.com, MD & VA Real Estate

In the past recent months, I have been doing the same old thing, and it has been doing okay for me. The two biggest differences in my business have been online networking communities such as AR, and I have really been working hard to be active in those online communities. But the best change for me over the past 12 months has been my involvment in BNI (Business Networking International). www.BNI.com I have put up a couple posts about it, and it really looks like I am selling it, but it has honestly helped me generate good quality business, and expand my sphere of influence better than the normal networking events/ mixers. I am very active in the local social networking scene, but nothing has been more effective than my BNI group. I definetly think you should check out a local chapter near you, heck check out all of them. You can go to each meeting twice before joining. The investment is $430.00 for the first year, which at first kept me from joining as I simply could not justify coughing up almost $500 bucks for something I wasn't sure was going to work. However now that 12 months have passed, and I reveiwed what I spent on BNI VS. what has come back to me, it was totally worth it. Our group started out with just 6 members (you need 15 to become chartered) and for 6 months we grew and had alot of fun. Finally we had all 15 members, and that's when the magic started. Again it sounds like I am over pushing BNI, but I simply feel that strong about it, and feel everyone should be in a group. Each group is industry exclusive, i.e. there can only be one realtor per group, one mortgage company, one printer, one of everything, but you lock out all your competition and you have an active sales force for 25-30 members that you see every week. (catches breath) Anyways, that would be the single highest recommendation I would have for expansion. Best of luck to you!!!

Gene Krueger III

Realistic Endeavors BNI Prime Time "Givers Gain"

07/22/2008 11:16 AM

by Fix Credit Biz

Financial planning seminars sound like a great idea, particularly with your dual real estate/lending background. Do you have much attendance?

08/05/2008 12:16 PM

by Stanton Homes - Penny Hull: Raleigh Area Custom Home Builder (Stanton Homes Inc - Raleigh Custom Homes)