Q. How do you keep sales going in the fall selling season?
A. Marketing is not seasonal. Having a business plan with specific short term and long term goals, along with time-blocking your schedule, is the best way to keep sales going year ‘round. Consistency is the key.
Q. What marketing are you currently doing to build sales during the last quarter of 2011?
A. Each agent uses different marketing strategies. In the Fall some of the seasonal methods include football schedules and holiday cards. It’s a great time to focus on that personal touch. For past customers, sending a copy of the HUD 1 at the end of the year is a excellent reminder for them to file for Homestead Exemption. In order to avoid that “seasonal slump”, I work with agents to develop a year long plan. If an agent has a system to make contact with their data base and prospecting is built into their schedule, they are less likely to experience the Real Estate Roller Coaster.
Q. With the start of the 2011/2012 school year around the corner, are schools still highly influencing buyers or is price the stronger motivator?
A. According to NAR, 64% of buyers said “quality of neighborhood” was their primary focus in the home search, with 25% specifically referencing school quality. We find that families with school age children will choose the area with better schools over most any other criteria. The exception, of course, is children going to private schools. These buyers will still be looking to negotiate a good deal, once they have selected their neighborhood. That is the mindset of most all buyers in this market. Prices are still going down in most areas covered by NEFAR, but inventory has dropped by 25%. The implication would be that we will start seeing prices edge up as the number of homes on the market go down.
Q. For the fall season are you promoting builder’s spec homes or re-sales as the better option for buyers wanting to close by the end of the year?
A. It’s not as much a matter of choosing between new construction v/s re-sale, as it is a choice of avoiding short sales. If a buyer has a target date that must be met for the purchase, they can’t afford to look at short sales. According the the Market Stats on NEFAR.com, roughly 44% of the sales in June of 2011were lender mediated, making it a challenge to find the perfect home that meets the buyer’s needs. With new construction the buyer can find deals that many re-sale owners can’t match. It is a hyper-local issue, meaning it will vary drastically from area and even neighborhood. The Realtor really has to do their research and know the numbers for each area.
Q. What advice would you give agents to help increase sales this fall?
A. The very best way to increase sales is to be consistent with your marketing all year and stick with your business plan. If you have trouble following your schedule of prospecting, find yourself someone to help hold you accountable. It could be your Broker or manager, a coach, a friend or spouse or even a fellow Realtor.
Q. How do you keep sales going in the fall selling season?
A. The fall selling season is statistically one of my best each year. I live the “good life” which to me means that I work by referral. I am constantly aware that what I do today (whatever day it is), affects my business in the next 90 days. I make sure each day, week and month that I am in front of the people that can refer me. Each September I look at doing something different with my marketing dollars. This year I’m doing a “Kick-off to Football Season Client Appreciation Party” and in November will host my “Client Appreciation Pie Party” which is a big hit with all of my clients. These types of events make it easy for me to contact all previous buyers and sellers to reconnect with them and reinforce our relationship. Picking up the phone is one of the hardest things to do when you do not have a reason. But when you pick up the phone it’s like the old TV show “Dialing for dollars”, I almost always end up with a referral.
Q. What marketing are you currently doing to build sales during the last quarter of 2011?
A. I plan to continue my full page ad in Homes and Land Magazine. This is a consistent source of business for me. Annually I mail a refrigerator calendar to my clients and sphere of influence. Mailing Thanksgiving cards is always a part of my business plan. In this industry it’s important to be a member of the Sales and Marketing Council of the Northeast Florida Builders Association. By attending their events I continue to network with other members.
Q. With the start of the 2011/2012 school year around the corner, are schools still highly influencing buyers or is price the stronger motivator?
A. Schools are always an influencer but in this market price is a huge motivator as well.
Q. For the fall season are you promoting builder’s spec homes or re-sales as the better option for buyers wanting to close by the end of the year?
A. Buying a resale home is just as good an option as a spec. My best advice is to stay away from a short sale if they want to close quickly. Many builders offering to pay buyer closing costs which is an attractive incentive for buyers. However, many sellers are in a position to do that or to offer another type of incentive. This is one of the first times in the 18 years that I’ve been a Realtor that builders negotiate also, which is huge for the buyers.
Q. What advice would you give agents to help increase sales this fall?
A. The best advice that I can give a new or a seasoned agent is to hire a coach. A great coach will help you determine the “why” of what you do and assist you in maintaining “focus”. Even though we’ve experienced a change in the market, the fundamentals of our business have not changed. I would also suggest that with anything you mail to your sphere of influence you follow up with a call. There are so many reasons to call someone and I’m always happy my clients are glad to hear from me throughout the year.