Craigslist “POST IT FOR YOU” is here!

What is the key to lead generation on Craigslist? Consistency!  When you post consistently you stream a constant flow of leads into your Work Smart Be Smart System that will receive automatic follow up and be converted into hot prospects.  If you don’t post you won’t get leads.  Because we are always working so you don’t have to, we announce “Post It For You.  This new service will post TWO Craigslist ads per week on your behalf.  What is the cost? Post It For You will be included in your monthly membership, so you can generate new leads at no additional cost.


Post It For You Launches August 1st, 2011

 

3 strategies to move an overpriced listing

You have worked as hard as you can to get this property sold. Your marketing efforts have generated 50 showings but no offers. What can you do?

Recently, one of our private coaching clients posed this question to her coach. She had done everything within her power to place the property under contract. However, the sellers weren’t willing to lower the price any further. They had a great reason. If they dropped the price any further, they would have to bring money that they didn’t have to the closing table.

The challenge for the agent was that the sellers were blaming the failure to sell the property on her and they were angry. How would you have handled this situation?

One of the most powerful ways to address this situation is to do an update on your market statistics. For example, if there are currently 60 properties listed in their area and price range and 10 of them sell each month, this means that in order to sell their property, the sellers must be in the top 17 percent of the properties on the market each month in terms of the price, condition and the location. With this many showings and no offers, they’re continuing to fall in the bottom 83 percent that are still listed each month rather than in the 17 percent that sell.

The next step is to explain the seller’s choices. Here’s what to say:

“Mr. and Mrs. Seller, as you can see from the current market statistics, only 17 percent of all the listings will sell this month, while 83 percent will continue to be listed next month. Furthermore, most of the properties that are selling are in like-new condition. Given these circumstances, you have the following options:

“First, you can adjust your price.

“Second, you can update the paint and the fixtures to make the house more appealing.

“Third, if you absolutely must get this price, you can take the property off the market and wait for the market to improve.

“It’s your house and it is your decision. What would you like to do?”

Furthermore, it’s often useful to either take the sellers out to look at the competition or to pull together a slide show of the interiors of the properties that went under contract or that are currently on the market. Sometimes the reason a property is not selling is that buyers can afford to be choosy. The agent who sold our last house told me that the only things that are selling where she is working right now are in like-new condition. Everything else, unless it’s way below market value, is languishing on the market.

A third way is to do a price-per-square-foot comparison. Remember to choose comparable sales where the lot size and the improvement size are within 10 percent of the seller’s property. Failure to do this will yield inaccurate results.

The next step is to make three pricing lines: one for sold listings, one for current listings, and one for expired listings. In most cases, what you will observe is that the sellers’ current price falls in the price range where most of the listings are expiring. Here’s what to say:

“Mr. and Mrs. Seller, as you can see from these three pricing lines, the properties that have gone under contract in the last 90 days have all been priced between $135 to $145 per square foot. The properties that failed to sell and currently are showing on the multiple listing service as expired listings were all priced at $153 to $160 per square foot. Your property is currently priced at $154 per square foot.

“Consequently, you have an important decision to make. You can leave your property at $154 per square foot and it will probably still be on the market, or you can reduce your price to $145 per square foot and increase the odds that it will sell. It’s your choice; what would you like to do?”

Now if the sellers are being unrealistic and you’re no longer willing to work on an overpriced listing, here’s a different approach:

“Mr. and Mrs. Seller, you have an important decision to make. You can continue to keep your property on the market at the price where it is currently listed or you can lower the price to the point where the property will sell. Clearly, since we have had 50 showings and no offers, the property is not priced where buyers today are willing to purchase it.

“It’s your choice; what would you like to do? Continue with your current price? Or reduce the price, end the two-hour commute each day, and get on with your life?”

If the sellers say they want to keep the same price, the next choice is really yours. Are you going to choose to continue to work on an overpriced listing or are you going to walk away? In many cases, your willingness to walk away can be a huge wake-up call. Here’s what to say:

“Thanks so much for the opportunity to market your home. Given the current market conditions, I would be doing you a disservice to continue to represent you on the sale of your property when the market data says that you won’t sell in this market unless you drop your price. I have cleared this with my broker and we are releasing you from the listing. I wish you the best in getting the price you want.”

If you have an overpriced listing that is not selling and the sellers aren’t willing to be realistic, walking away is probably the smartest thing that you can do. If the sellers realize you’re serious and reduce their price, it’s a win for you both. If they are unwilling to reduce their price, you have just eliminated a huge energy and money drain from your business.

By Bernice Ross

Inman News™

Where To Find Blogging Content

One of the most common questions we hear is “where do I find my blog content?”  Ideally it would come from you everytime, a nugget of profound wisdom.  The fact is you are working hard and may suffer from periodic “brain drain”.  Remember one key thing when coming up with your next Blog Post, what is simple or common to you is profound to a first time home buyer, investor, or person looking for advice on losing weight or good nutrition.

Plan B?  Go to major news sites and look for relevant content for your clients and add your professional spin to it.  Here are a couple places to start:

REAL ESTATE SOURCE #1

REAL ESTATE SOURCE #2

For great Isagenix and nutritional information start with Isagenix website, then look at sites like THIS

Jay Bennett 2

Joe Parsons 2

Brian Lee

Brian Kelly

Andi

Diane Hourany

Four Tips to Beat the Feast or Famine Syndrome

1. Allocate Marketing Resources Effectively
How should you allocate your marketing resources—your time, energy, effort, and your marketing budget? The key is to find just the right balance in marketing to three groups: existing clients, prospective clients, and the broader market.

Without question, your best source for new consulting work is from your existing clients and the referrals they can provide. Your current clients should generate the largest share of your profits, so plan to allocate 60% of your marketing efforts to your existing clients.

Prospective clients represent the next generation of work for your practice. Your goal is to convert prospective clients into paying ones—if they fit your targeted client profile and have problems that you can solve. Commit 30 percent of your marketing resources to win work from this group.

It’s always important to maintain visibility in the broader market. This includes everybody in the business world not represented in the two groups above. Invest 10 percent of your marketing resources in the broader market. Focusing on this group is less efficient, but the effort has the potential to generate important contacts and leads.

The 60/30/10 percentages are rules of thumb, and are not set in concrete. If you’re just starting a practice, you’ll expend more of your marketing efforts attracting prospective clients. As your practice grows, move toward the 60/30/10 percentages.

2. Create a Plan You Can Stick to
Marketing literature is full of advice on building a marketing plan, so if your eyes are rolling about now, bear with me. The fact is, the most potent weapon to battle feast or famine is a long-range marketing plan that’s realistic, will achieve your goals, and has your buy-in.

Where do you want your practice to go? What clients do you want to work with? What sets you apart from other consultants?

Without a real plan that addresses those questions, your marketing will always be a hit or miss proposition. You might make time for marketing when it’s convenient, but you will put it aside when more in-your-face activities overwhelm your schedule.

The most effective marketing plan is short—seven sentences to be exact. It should fit on a single page. Feel free to add as much detail as you’d like, but begin with the basics. Even if you already have a marketing plan, try to re-craft it using these seven points:

  • Explain the purpose of your marketing.
    What results will you achieve for your practice through your marketing efforts? Maybe you want to increase your market visibility, attain a certain market share in your industry, develop new business with existing clients, or launch a new service offering.
  • Explain how you achieve that purpose by articulating the benefits you provide.
    Why are your services needed? Why should clients choose you instead of a competitor? Spell out the substantive value you provide for clients.
  • Describe your target market(s).
    Who do you want to reach with your marketing message? You might, for example, target specific industries, segments within an industry, or a particular business function, like Human Resources.
  • Describe your niche.
    What’s your specialty? Maybe you excel at improving employee productivity through training programs, or helping clients retain their best people by implementing career development programs.
  • Outline the marketing tactics you will use.
    How will you convey your message to your target market(s)? Select the marketing tools you’ll use, such as publishing, publicity, speaking, or direct mail, to name a few.
  • Define the identity of your practice
    How do you want clients to think of you—collegial, objective, analytical, creative, tough, collaborative, results-oriented, or generous with ideas? Identify the culture and reputation of your practice.
  • Quantify your marketing budget
    How much will you invest in marketing? You can specify a dollar amount, or you can commit a percentage of revenue from the business to marketing activities.

The process of creating your marketing plan will force you to make choices about the future of your business and about how to allocate your time and resources, especially if you are serious about achieving the objectives you’ve described in your plan.

3. Build a Marketing Road Map
Have you ever been convinced that you knew where you were going only to find out that you were totally lost? When you’re lost, looking at a map—assuming you have one—can quickly get you back on track. A Marketing Road Map spells out the details of how and when you will implement your marketing plan to steer your marketing activities in the right direction.

Preparing your Marketing Road Map is a strategic and tactical activity. It begins with your ideas on how to present your practice to the market and sets a precise schedule for each marketing activity on your plan. Your Marketing Road Map will always show you where you are and what you need to do to arrive at the future you’ve designed in your marketing plan.

You should derive energy and enthusiasm from your marketing plan and Road Map to keep you driving toward your goals—in spite of the fires raging in the short-term.

4. Be Consistent
The most successful consultants know that marketing is a continuous process. Marketing success is about creating momentum through consistent action over a sustained period of time. You must be the constant force behind that process.

Once you have momentum, it’s easier to lose than it is to maintain. Stop paying attention to your marketing activities and you’ll lose your hard-won marketing gains—you’ll have to start from scratch.

How much time is enough to maintain your momentum? Opinions vary, but try to spend a minimum of 20% of your time on marketing your practice. Variations of this rule are everywhere, so assess your own situation. But keep at it, no matter what.

You should schedule marketing time at the beginning of every month and every week. Treat your marketing “appointments” with yourself like client time: It’s uninterruptible, unless there’s an emergency. Reserve marketing time on your calendar and watch your market presence and success grow.

The consulting business can seem like a roller-coaster ride, but it doesn’t have to be that way. Keep your practice in the mind’s eye of your targeted clients, no matter how busy you are serving others. That will smooth out the ups and downs and pay dividends down the road. Take time every week to advance the visibility of your business, and you’ll experience continual feasts—without the famine.

by Michael W. McLaughlin