Let's talk about using the Traffic Home Selling Strategies. In the last installment we looked at how developers and marketing companies use the strategy of Traffic to help move their product, let look at how these tactics can be incorporated into your own personal marketing.
Traffic has been used by developers for years; let's look at some tactics that emulate the developers
- Set your target list price in the upper part of the range, although this seams like the opposite of what to do, it will allow you to build in your incentives and create a bargaining atmosphere that will appeal to buyers in this market, remember that the fear of loss is much more powerful than the sense of gain, a buyer will be much more inclined to go through with a deal if they deem it as the deal of the century - instead of pulling buyers through a garden hose, you will have them diving into the water.
-Financial Incentives, one of the best tactics that marketing systems employ, the secret here is to have set the pricing structure up to absorb these costs and not cut into your bottom line. Place a Buyers agent incentive on the property, either increase the compensation percentage for the agent or by simply offer up a large guaranteed commission, your showings will increase dramatically, and the more showings the more likely that someone will fall in love.
-Follow up, Follow up, Follow up, everyone is reluctant to leave their information at a development site because we all know that we will be bombarded with follow up material, they will call you, they will mail you, they will overstuff your inbox and now they have started to text you! It has become incredibly hard to gather folk's information because of the fear of overbearing contact. Here are some great ways to put potential clients at ease.
1) Stress that all of your follow up material has a simple un-subscription process, and make sure it does :)
2) Clearly explain to your potential client that you are in the business of following up not solicitation, explain that you understand that their time is valuable and so is yours, you have much better things to do then to solicit for business on a Sunday morning and are here to help them not hound them. Have different follow up schedules for different clients needs, if they are not actively going through the sales process with you, put them on a drip campaign to maintain contact. Don't frustrate yourself by chasing after hopes and dreams
3) Offer a compelling reason to give your information, one of the best I have found is to hold a draw at the end of the month, go down to Winners/Ross and buy a few high quality neutral colored towels, nice soaps, bath accessories and candles put them in a large gift basket, remember presentation is the key, so cellophane and ribbons are a must, offer a second prize as well, currently I am using The Holmes Inspection book by Mike Holmes available at most book stores. Place the basket and secondary prize in the kitchen and offer ballots with a pen and a clear ballot box half filled with ballots, (just like how they fill up tip jar at starbucks before their shift :) At the end of the month I hold the draw, I hand deliver the winners there prize and take a photo of the presentation, everyone who entered is emailed a copy of the photo which promotes good will.
-Incorporate out of the box Marketing Tactics, Things like the ‘Ugly Yellow Sign' campaigns that most know as a call capture tool can yield great results at opens when they are strategically placed. We are constantly bombarded with the usual glossy images and slick advertising, these have become almost useless as they now simply blend into the scenery. The Ugly Yellow Signs stand out because they are handwritten, tacky and give a distressed merchandise look, in fact I held a open in which the house was quite frankly overpriced in this market but we peppered over 50 Ugly Yellow Signs for the open, over 60 feature sheets were gone in a hour and a half and people kept commenting on how the price seemed like a bargain. - if it looks like a bargain then it must be a bargain
-Curb Appeal, time and time again home staging has been one of the best ways to help move merchandise, just as we all dress up for a special date or event, a staged home helps you put the best foot forward. Even renting a temporary self storage unit to un clutter has profound effects
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