Do You Market Your Listings to Your SOI?

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Education & Training with Sell with Soul

Let's say you just got a shiny new listing on this second day of 2008. You take your photos, create a virtual tour, write up a snappy description and....

...send it out to everyone you know (that is, your SOI) -- just in case someone might want to buy it or know someone who does?

How do you feel about this marketing technique?

I'll share my thoughts tomorrow, but I'd love to hear yours today...

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Rainer
68,566
Rob Aubrey
Cottonwood Heights, UT

Prospecting without picking up the phone.

The basics are the basics.

I agree do it.

But real estate is an offline business, technology can accelerate things, but not replace real work.

The script that I was taught ten years ago, from the Mike Ferry Organization

We just listed a home over on Primrose Lane, it has 4 bedrooms and two baths and it is listed for $299,900 and I was wondering... who do you know that would like to move into our area...

No one, I appreciate you taking the time to think about that, by the way... when do you plan on moving...

As for marketing, I do 33 touches +/- per year. Some agree that it is too much. Usually the disagreement comes from people not doing too much business.

Watch those that produce and do that.

Watch those that don't produce and don't do that.

 

Jan 02, 2008 12:16 AM #1
Ambassador
604,685
Brian Schulman
Coldwell Banker Residential Brokerage, Lancaster PA - Lancaster, PA
Lancaster County PA RealEstate Expert 717-951-5552
I agree with Rob - I definitely plan to increase the number of touches per year that I do - both in person and with technology.
Jan 02, 2008 12:38 AM #2
Rainmaker
100,900
Lisa Ryan
Callaway Henderson Sotheby's International Realty - Montgomery, NJ
Selling Princeton,West Windsor and Montgomery Town
Jennifer~ I would have my SOI split into 2 groups, and send it to the group who has let me know they are interested in receiving such information from me.  You don't want to turn off any SOI who doesn't want extraneous stuff coming their way from you.  Bottom line- ask permission first.
Jan 02, 2008 12:48 AM #3
Rainmaker
475,377
Daniel J. Brudnok, REALTOR
Berkshire Hathaway Home Services Fox & Roach, REALTORS - Exton - PA License #RS-225179-L / Delaware License #RS-0025038 - Downingtown, PA
SRES, e-PRO,ABR,GREEN,CSP

Jennifer,

A great added value to your Seller.....a group that you have that you believe is invested in your success....thus the success of your Client, the Seller.

Have a great 2008.

Jan 02, 2008 01:06 AM #4
Rainer
19,772
Carlos Scarpero
Paramount Residential Mortgage Group - West Carrollton, OH
Mortgage Loan Officer
It's a good idea. You never know. Maybe they would give you a referral.
Jan 02, 2008 02:54 AM #5
Rainer
88,363
Carol Spengel
Prudential Rubloff - Wheaton, IL
Wheaton IL
I'm sure I can be swayed, but I don't know if I would send every SOI person my new listings.  I am thinking from my perspective, would I want an email or postcard every time it happens to someone else? It might be a good idea to do an overview of my listings every 3 months.  I can't wait to hear your response.  I have an open miind on the subject. 
Jan 02, 2008 03:06 AM #6
Rainmaker
484,007
Jennifer Allan-Hagedorn
Sell with Soul - Pensacola Beach, FL
Author of Sell with Soul
Good stuff so far - please keep the opinions coming in!
Jan 02, 2008 03:07 AM #7
Rainer
100,110
Heather Oberhau
Prudential Fox & Roach - Newtown, PA
Bucks County Real Estate, e-PRO

I do postcards to my SOI, the neighborhood, and to a "move up" development (where someone might move from - condos for a single family, etc). Our company has a partnership with Xpress Docs and we receive them the next day. A bulk of my marketing money is with direct mail.

My neighborhood postcards read "Sometimes you CAN choose your neighbors.  If you know of someone who might like this home, please direct them to our website"

My SOI postcards read "Help me sell this home! I've got a great new listing - know anyone who might like it?" I did have people ask me in the beginning why I was sending them advertising (especially after they just bought a home from me) so I started doing separate mailings with this message of that I'm looking for help with the selling.

My move up is more of straight advertising.

I like direct mail.  I've received compliments on the quality of my marketing material, and I get comments when I'm really busy from family and friends "Wow - you're not doing too bad, are ya?"  I think it gives credence to the fact that I'm a professional, with actual business, when they usually see me in jeans and a sweatshirt, trying to manage my kids.

Perfect marketing for an introvert like me, and I do get a couple listings a year from it, which covers the costs.

Jan 02, 2008 03:59 AM #8
Rainmaker
715,721
Ruthmarie Hicks
Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605 - White Plains, NY

 I do send out the listing information to my SOI.  However, I live in an area where agents don't get many listings.  A high-flyer is getting one a month - or at most two in a given month.  If we were doing the VOLUME that I see in some other areas, I'd have to advise caution. My SOI are also often my personal friends and many are agents I would not want overwhelm their email or snail mail with an unending stream of listings. I think its common sense. Not only is it annoying - it would lose its effect in short order.  It's like any other form of advertising.  The more the public is bombarded, the more they tune out. They HAVE to - its survival for God's sake. 

Some choose to turn up the heat and bombard people almost bullying and brainwashing them into doing business.  I put Rob in that group with the Ferry system....I disagree with him totally - you are BADGERING people to work with you when you do that. Someone like that would never, ever get my business or referral. 33 touches a YEAR?  I'm surprised people aren't screening his calls out and running for cover every time they see him coming!

Jan 02, 2008 04:42 AM #9
Rainmaker
1,026,546
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

33 touches a year?  Only if it's my husband. 

I have always marketed listings to my SOI for all the reasons given above.  It lets my SOI know I'm busy (i.e., successful), they always seem interested in what's going on in the market, even if just tangentially, and you never do know who they know who may know someone who may have heard of someone who has a friend (or was it a neighbor?) who is looking for THAT VERY HOUSE!  ;-)  

 

Jan 02, 2008 09:42 AM #10
Rainmaker
430,916
Frances C. Rokicki
Fran Rokicki Realty, LLC - Bolton, CT
Broker-Mentor,CRS
I always send out to them when I list and when I sell:) They need to see how active you are, too!
  Happy New Year!
Jan 02, 2008 10:54 AM #11
Rainmaker
46,093
Sarah Nopp
South Sound, WA
I definitely send notices to all my Sphere. I make sure to let them know how much I appreciate their help in my success. It is just one of the passive ways I keep in front of them.
Jan 02, 2008 02:10 PM #12
Rainmaker
484,007
Jennifer Allan-Hagedorn
Sell with Soul - Pensacola Beach, FL
Author of Sell with Soul
Nice variety of opinions - all of them perfectly valid. My opinions coming soon...
Jan 02, 2008 09:34 PM #13
Rainer
62,831
Allen C. Wright
RealtyU - Aliso Viejo, CA
NS, AHS, REPS
If you are using technology than have the ability to segment your list of names into those that would be appropriate and those that would not.  Using the shootgun approach just does not work in today's world of 200 emails a day.
Jan 03, 2008 11:48 AM #14
Rainer
80,366
Latonia Parks
Top Bragg Realty, Fayetteville NC, Home of the 82d ABN DIV - Fayetteville, NC
Certified Military Relocation Expert
I would send them to my SOI but as someone has said already, only if they have an interest to decide who their next neighbor will be.
Jan 03, 2008 11:59 AM #15
Rainmaker
372,464
Donna Yates
BHGRE - Metro Brokers - Blue Ridge, GA
Blue Ridge Mountains
I would send it to everyone I know and all past clients.  I believe in reaching out to every single contact because who knows where it might lead.  If the person I send it to isn't interested, then that's that but I'm not going to make that decision for them.
Jan 03, 2008 01:01 PM #16
Rainmaker
533,579
Karen Rice
Davis R. Chant, REALTORS - Hawley, PA
Northeast PA & Lake Wallenpaupack Home Sales
no, I really don't, though I do tell my friends when I get a new listing.  I don't email it to them though.
Jan 03, 2008 01:43 PM #17
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Rainmaker
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Author of Sell with Soul
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