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Older Methods VS Newer Ones, Where are you?

By
Real Estate Agent with YouShouldOwn.com

New VS Old

In today's market we're all aware that buyers are gold and listings may perhaps be a dime a dozen and hard to sell. I've heard of many agents leaving the business, getting part-time jobs and desperate for business. I'm curious to see where the future is going nationally and locally. The agent of the past had set ways and standards for obtaining customers and achieving sales. They mainly included:

  • Open houses
  • Floor Time
  • Cold Calling                                       
  • Sphere of Influence         
  • Sign Calls
  • Postcards or mailings
  • FSBO or Expireds

The newer agent or at least newer meaning the last 7 years or so has begun a new system. Sites like Homegain, Realtor.com, HUD, Housevalues, etc. have made a mint off of us and have given back some business they achieve through their own marketing. It's a time saver but comes out of pocket no less. The newer agent seems to be focusing on slightly different means of new business exploration. They might include:

  • Paid Internet advertising (Lead generation sites)
  • PPC on Search Engines
  • Developing their own websites
  • Joining teams that are aleady established
  • Hiring more help to make calls and follow-up (PA's)
  • Blogging or networking via the net with other agents for referrals and recognition
  • New ways of marketing; Podcasts, video, Texting, VT's etc.

 Top 20 Real Estate Sites

How many are still using the older ways vs the new ways? How many are still using the older methods of gaining buyers and sellers? What's the ratio today of old and new? My personal ratio is about 10% old and 90% new. I've been an agent for 5 years and I'm 30 years old. I started off 100% with the standard older techniques which still work. What are you in your market doing to be creative or hold on in this tough time? We all stand to benefit form each other especially in totally different locations and markets. Let's share ideas and tricks we've learned to better our business and industry. What's your ratio?

 

 

Anthon Pang
iPro Realty Ltd., Brokerage - Toronto, ON
Broker

I don't know how I'd calculate the ratio.   Right now, with the exception of blogging, I spend a lot of time on the old.  But in terms of planning for the future, my strategy is definitely focused on the new.

Oct 07, 2007 03:10 PM
Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production
I don't know how i'd classify my business.  I think that face to face and referral only is the way to do it....
Oct 07, 2007 03:22 PM
Cecilia Sherrard
YouShouldOwn.com - Cleveland, OH

Anthon- You sound like many. What are you doing specifically old/new? What's worked best for you?

Larry- I agree that referrals and face to face are key. How do you go about getting those appointments and referrals? For an agent that doesn't have the luxury of their phone ringing off the hook or their calendars filled. Gaining new business in this market. . .How?

Oct 07, 2007 04:03 PM
Tim Bradford
Cleveland, OH
NMLS 250013
Good Post Cecilia,  Any insight into the first two items.   I know I have read alot of negative comments regarding those methods.   Is it a matter of failure to work those leads or going to the wrong places?
Oct 08, 2007 08:29 AM
Cecilia Sherrard
YouShouldOwn.com - Cleveland, OH

Hi Tim - I'm assuming you're referring to the first two items in the newer category; Lead generation/PPC. I've done it all and have spent a LOT of money doing it. In my experience, most lead generation sites as mentioned above annoy the home shopper. I've heard nothing but negative comments regarding them. You have to basically give up your first born to be emailed 50 times by 50 people just to get a list of homes. They sell their email address and spam the hell out of them until the buyer screams and hits power on the computer. If that's not bad enough, the calls seem to be never ending even though the consumer has said numerous times they're not ready to buy and are just looking.

At this point I feel most online home buyers are just giving fake names and phone numbers to gain access to homes. All they want are homes! They don't want to be called nightly and emailed every day with, "Are you ready to buy yettttt!?" If we could just relax and provide information and not push people into a frenzy of annoyance, perhaps we'd finally move up another notch above the used car salesperson.

"Working the leads" is an art. Just like any proper follow-up. You have to know how to do it and work on a system. Careful not to overly disturb and not disappear at the same time. Providing information and avoiding sales tactics is my advice. Nobody wants to be "sold" anymore, they're too hip to this and too aware of what salespeople do.

PPC is flooded with competetion and is costly. The savvy Internet user knows which links are sponsored and which are not. They're aware that the companies or sites that pay for clicks are not capable of getting them on their own and are sometimes not reputable. Therefore, both must be used with caution. I'd recommend not dumping a ton of money into either until you see solid results.

Can they both work and be beneficial? Yes.

Are you going to have to do homework and learn how to use them both and who to go with? Yes.

Nothing comes easy or free.

Oct 08, 2007 09:24 AM
Tim Bradford
Cleveland, OH
NMLS 250013
Sorry,  I must have misinterpreted your post.   I thought you were advocating the second list as the way to go for the future.  Now I think you are saying, The old ways still work as long as you work a plan consistently.  And the items in the second list should be used when you find what works for you.   
Oct 08, 2007 09:50 AM
Cecilia Sherrard
YouShouldOwn.com - Cleveland, OH

"Any insight into the first two items.   I know I have read alot of negative comments regarding those methods.   Is it a matter of failure to work those leads or going to the wrong places? "

I don't know that I'm an advocate for everything on either list but it's what's happening. It's what the newer agents are doing. Yes, the old ways can still work, so can the new. The above comment was just my personal perspective or "insight." I'm looking to hear from others to see how it's working for them, and the ratio of their marketing/techniques.

Oct 08, 2007 10:01 AM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Cecila, I have a foot in the old and new.

Old - open houses, sphere, FSBO or expireds

 New - website, blogging

Looking into doing seminars.

Nov 14, 2007 10:46 AM