Top-of-Mind vs. Top-of-Heart. A Valentine's Day view of Real Estate.
By Tawd Frensley
The decision to sell a home can be broken down into 6 categories:
1) They bought their home as an investment and this is the epitome of a seller’s market.
2) They have outgrown their home because they brought children into the world.
3) They can finally downsize now that their adult children have decided to move out
4) They have to relocate due to occupation change or retirement
5) They are underwater. Hopefully, this is never the case.
6) Their neighbors bug them to no end.
As a real estate agent, you do not have any control over these 6 categories. It is a waiting game with all of your clients while they make their decision to sell.
The fact is that one of the 6 listed scenarios will happen to one of your past clients or to someone that they know.
However, you do have control over one important thing. This one thing, in our opinion, is the most important: who they think of first when one of the 6 situations happen.
There is so much information, resources, and options available to your clients.
Did you know the average person knows 3 real estate agents?
This leaves you with a possible closing ratio of 33% through standard marketing and outreach, since most agents market similarly.
Question: So, what is Top-of-Mind?
Answer: Being thought of first. It is being located in a place in their brain that when the words “Real Estate” are uttered, YOU, and only you, are thought of at the moment.
This philosophy applies to not only their needs, but also their friends’, families’, and co-workers’ needs. It is that coveted referral that every sales person chases.
Being thought of first does not come from strictly emailing articles you find online. It does not come from constantly asking for referrals. Your car, your clothes, or self-promotion cannot help you with repeat business and referrals. Top-of-Mind is strictly being all-things-real estate. It is who they think of when it’s time to make a real estate decision.
Timely information, consistent follow-up, monthly phone calls, and sincere communication are the building blocks of Top-of-Mind Awareness.
So what is Top-of-Heart? Well, since we are nearing Valentine’s Day, we thought today would be a great day to introduce our new idea.
Top-of-Heart: When people care about you enough, they will do everything and anything to ensure that you succeed. You should be located in the place in their heart that creates trust, loyalty, and the willingness to GIVE you business. That is what repeat business and referrals are: someone giving you business. The bottom line is that they are gifts.
Your clients are not obligated to list with you. They don’t have to refer their friends and family to you. Your Sphere of Influence is not under an obligatory contract with you.
It’s the heart. It is that binding connection between the people in our lives that naturally makes us care about them, to be considerate of them, and to want them to excel in life.
Any repeat client you have received, any referral that has come your way- have all come from your clients’ hearts. The heart is the best place to be.
Our Technology helps you with time. Your phone makes you accessible. Your car helps you get there. However, only YOU can find a way into your clients’ hearts.
Sincerity and love in our digital age, will truly set you apart.
Happy Valentine’s Day to you, your friends, and your loved ones,