4 Tips Residential Agents Can Use for Landing Expired Listings

A simple MLS query will bring up plenty of expired listings, each offering a new opportunity for you to make another sale and gain a new client. Sellers have just been through the process of trying to sell their home and working with an agent who was not successful, so they are more than likely frustrated with the process and are looking for new, fresh ways to sell their home.

Here are four tips residential agents can use for landing expired listings.

#1. Prove You’re Different

Why are you the right agent this time around? The sellers need to know that you are not just better, but that you will take a different approach to selling their home. Half a dozen other agents are also trying to gain the re-listing assignment, so you need to prove how you will be successful in marketing and selling their home.

Perhaps you have a cutting edge marketing program that includes submitting the listing to Trulia, you participate in listing podcasts, offer virtual tours or have an online listing exchange with other agents in the same area. Give the sellers references to past clients you have worked with, show them hard stats and data that will help prove you are right for the job.

#2. Be Mindful of Price

The reason many listings expire is because they had too high of a price tag. This is often because the seller believes their home is worth more than it is – be mindful and don’t immediately pitch to the seller that you’d like to lower the asking price by $30,000.

Give concrete reasons for why you believe the price should be adjusted to earn the listing. Ask the seller on their thoughts about why the home didn’t sell and give them your thoughts as well. Earn the seller’s trust and prove yourself before jumping to lowering the asking price.

#3. Be Proactive

Don’t assume that since a listing expired, that the sellers will use the same agent to re-list the property. Pick up the phone and talk to the seller to find out background on the situation and to gain more insight as to why the property may not have sold.

Commit to making an effort and putting together a plan of action to present to the seller to earn the listing. Don’t be discouraged by the competition – present the seller with valuable and proven information to show them that you are the agent that will sell their home, fast.

#4. Utilize ProspectNow

ProspectNow can help you land an expired listing because of the advantages it offers, such as putting online display ads directly in front of the most likely prospects and targeting directly to the most likely buyers.

ProspectNow will help you identify properties that are most likely to be listed for sale in the next 12 months before other agents do. This will help you locate expired listings and be proactive in trying to win the seller’s business. Start your free trial here.

3 Things CRE Brokers Can Learn From Predictive Analytics

It is certainly no secret that commercial real estate is an information-driven business. That being said, the industry is beginning to embrace predictive analytics – something that will change the way brokers close deals and will help them grow their clientele. Let’s take a closer look at three things CRE brokers can learn from predictive analytics.

Promotes Better Investment Decisions

Predictive analytics can show brokers where the next investment opportunities are and can help them decide on which to act upon and send to owners in order to make deals happen, and which may not be a good investment decision. Predictive analytics will aggregate data such as demographic shifts, cost of capital and workforce trends among other and brokers will be able to show owners how the purchase of a property would drive value and fit well into their investment model. Brokers can also determine which assets in an owner’s portfolio have maximized its value and should be sold.

Think Globally

Predictive analytics can encourage brokers to feel confident enough to think outside of just the local market and offer investors opportunities all over the world. Many brokers develop expertise surrounding their local market and advise clients on investments within this local market, but with predictive analysis tools, they are able to open up more opportunities in other markets for their clients because they have hardcore data to back it up.

Predictive analytics expand the scope of what brokers can accomplish, helping them secure more deals and become a more valuable asset to owners and investors.

Proactive Leasing

Predictive analysis can do wonders for investment ventures and it can also apply to leasing. Agency brokers can use predictive analysis to predict tenant behavior, helping them become more proactive in how they lease vacant space. Rather than making 20 cold calls a day searching for new tenants, they could focus on companies who are likely looking to move spaces based on the industry, employee headcount growth, and the behavior of firms in similar or the same industry under current market conditions.

The same goes for tenant retention – instead of waiting for a company to reveal that they are planning to move, the broker could discuss this sooner and start a discussion for what’s next in their plans to move spaces.

How ProspectNow Can Assist You

ProspectNow uses predictive analytics to identify properties that are most likely to be listed for sale, to be refinanced, or obtain a loan in the next 12 months before your competition has the chance. You will no longer be wasting your time or energy on marketing to property owners who have no intentions of selling.

The predictive algorithm looks at hundreds of data points every week on properties that are selling and then ProspectNow applies the characteristics of these properties that have recently sold to those that have not sold yet. This data will help keep you ahead of the curve and to have a leg up on your competition in order to land more clients and close more deals.

Start your free trial today!

Automate Your Lead Generation = Scaling Your Business

Who doesn’t want to have leads filling their pipeline while they sleep? When you automate your lead generation, not only can it help you scale your real estate business, it can quite literally help you drive leads into your pipeline with minimal time consumed.

From having an email signup on your website to making sure you’re keeping your data clean, here are a few ways that you can automate your lead generation efforts for maximum returns.

#1. Have an Email Signup

In today’s Internet-driven world, not having an email signup on your website is a non-option. Doing so will allow you to capture those interested in your services and lets you to deliver timely, information-rich emails direct to their inbox.

Once you capture leads via your email signup, be sure to have an automatic lead nurture program take over. This ensures that you’re nurturing prospects —even when you’re busy. Many of today’s best real estate CRMs offer automated email and lead nurturing capabilities, so make sure yours does … and use it.

#2. Do a Survey

Another way to fill your CRM with information-rich data is to reach out to prospects with a survey. Automate this survey to go out quarterly and watch the information come in. If you’re in the commercial real estate space, for example, perhaps you send a survey to your prospects asking if their still in the market for “XYZ” … the responses will help you better segment your CRM, and you’ll have created a new touch point that may inspire activity from previously stale leads.

#3. Qualify Leads That Attend Your Events

If you hold any open houses or property tours —and what real estate agent doesn’t— create a series of automated emails that deploy after the event. This is a great way to keep in contact with your new leads and to provide them with valuable information pertaining to the event or property.

Because you’ll automate these emails to continue over a period of time, you’ll not only look like your follow-up game is on point —you’ll also be starting conversations.

#4. Keep Your Data Clean

As you dive into automation, be sure that you’re keeping your data clean. This will help ensure that you’re reaching your intended audience with automated emails and/or campaigns that actually mean something to the lead. Having a CRM filled with email addresses with no segmentation means your automation efforts may be in vain.

At ProspectNow, we have 100 million properties filtered by predictive analytics to help you find property owners most likely to list or refinance their property. You get detailed property information including phone numbers, building information and more —the perfect way to kickstart or fuel an automation effort. Ask us how we can help!

What Is Hyper-Targeted Marketing and Why Should I Care?

In our digitally-driven world, sellers have multitudes of realty options at their fingertips. With NARS reporting that 72% of those sellers make contact with only one agent before choosing, time and relevancy are of the essence when communicating with and landing preferred clients.

But how do you find and present your message to your ideal prospective sellers before the competition? This is where hyper-targeted marketing becomes essential to your success, and you can begin by asking yourself a few simple questions.

Who is your target market?

In order to target specific sellers, you must first recognize your primary focus or speciality. You can begin with professional self-evaluation and local market research in order to pinpoint your own niche. For example, you may have a high success rate selling retail properties within the downtown district, or a growing client base dealing in industrial properties on the south side of town. Furthermore, market research can expose underutilized or oversaturated markets that can help determine the most profitable market as well.

Nailing down a specific brand and location of expertise allows agents to focus specific marketing efforts on the types of clients they are best equipped to serve and that are most likely to utilize their services.

When considering your market of preference, hyper-targeting asks that you then delve even further into the precise demographics of your audience. This type of focused approach is required in order to highlight your expertise through customized advertising.

This specificity ensures your marketing campaign is as efficient and successful as possible.

What message should you present?

Once you’ve identified your target market, you must develop a relevant marketing message. This will vary based on your specialization, focusing on the needs of both buyers and sellers within your market.

Customized marketing is equally as important in real estate as it is in any consumer based industry. Mass messaging rarely works anymore.

This means that everything from content to presentation should play to the identity of the sellers you hope to attract.

How should you deliver it?

Not only must you design a well-tailored message, but its delivery is key.

As the ability to target and promote within specific markets tightens, your ability to control exactly how and when your ideal client is introduced to your message increases. And, obviously, being the first to present your customized message is essential to your success.

Since sellers rarely look beyond the first real estate agent they encounter, ensuring your message is received begins by evaluating the best possible medium by which to deliver it. Are the possible clientele in your market more likely to respond to a TV ad or mass emailing campaign? These are the things hyper-targeting requires you to understand.

Beyond typical hyper-target marketing techniques, imagine having access to analytics which help determine who is most likely to sell or refinance within the next 12 months.

ProspectNow’s online database of potential sellers opens up new doors in the world of hyper-targeted marketing, allowing agents access to over 10 million commercial properties nationwide, as well as an in-depth tenant database.

Along with these insights, ProspectNow offers full service contact management, allowing you to generate and manage leads with ease.

The Future of Real Estate Marketing

90% of realtors use direct mail as their primary marketing outreach tool, however, this tool is also proven to have one of the lowest conversion rates. That being said, let’s take a look at some of the more innovative tactics smart realtors are using to generate leads and improve their ROI today as the future of real estate marketing emerges.

As traditional forms of real estate marketing continue to fizzle out, a new era of digital marketing trends emerges. Thanks to the widespread use of the internet, the market has changed, and information is widely available, so realtors must adapt in order to stay ahead of savvy consumers. Let ProspectNow teach you how to take advantage of today’s real estate marketing trends.

So how can realtors stand out in the noise and compete for their clients attention in a highly competitive space? By owning their digital space and being everywhere, not just in an email inbox.

Multi-Channel Marketing Solutions

In today’s market, real estate marketing must go beyond just email and become an intricate mix of all things digital: website, blogs, social and seo. It’s grown from a single item to an entire web of items that work together to deliver results.

Virtual Reality and 3D Modeling

Virtual reality and 3D modeling is becoming huge in the real estate industry, especially for foreign buyers. This gives them the ability to see, experience and feel themselves within a space, without ever being there. They can be on the other side of the world, but inside their future property at the same time.

If you’ve never heard of Matterport, then prepare to be impressed. Their camera captures a 3D-dollhouse rendering of any space that can be toured and viewed, not only in virtual reality, but across any device. When real estate agents and homeowners are looking for an edge in marketing their homes, condos, offices, yachts and anything else for that matter, they turn to Matterport.

Video Marketing Techniques

While video is huge and viral in other industry verticals, real estate has been slow to catch on. In today’s market, video is viral. Video sells and video gets high reach and engagement, across all social and digital platforms. That being said, while a picture of a new property listing is nice, a video is even better. Use video to highlight property features, give a tour or show a time-lapse of the buildings construction. All this content will help expose the property, create more visibility and get your listing in front of more potential buyers.

Whichever of these new age tactics you choose to go with, remember quality over quantity. Most of the times less is more and it’s better to have less, higher quality content, then more. Fine tune your content, make sure it’s engaging and presents you and your brand in the best light possible, always.

If that’s still not enough, let ProspectNow help you close more deals by providing you a list of properties that are more likely to be listed for sale or to refinance. Click here to see what you can do with ProspectNow. The future of real estate marketing is here, but will you be apart of the driving force pushing it forward?

5 Tips for Data-Driven Prospecting in Real Estate

Do you ever feel like your decisions could be better if back by data? If you’re spending time prospecting for new real estate leads, but nothing seems to be working —perhaps it’s time to look at the data. Here are a few tried-and-true tips for data-driven prospecting.

#1. Timing is everything

According to Tellwise, the average buyer receives over 100 emails a day, opens just 23% and clicks on just 2% of those emails. So now we ask ourselves, what do we need to do to be within that 2%? Since the odds clearly aren’t in our favor, it’s going to take a lot of work to make an impact and grab the attention of a potential buyer.

The data says:

  • According to Get Response, the best times to email prospects are between 8:00 a.m. and 3:00 p.m.
  • Experian claims that emails sent on Tuesday’s have the highest open rate compared to other weekdays.
  • RingDNA conducted a study and concluded the following, If a salesperson sends an email Tuesday morning, the best days to call and follow up are Wednesdays and Thursdays from 6:45 a.m. to 9:00 a.m. and 4:00 p.m. to 6:00 p.m.
  • The worst days to make call are Mondays from 6:00 a.m. to 12:00 p.m. and Friday afternoons, according to RingDNA.

No what, you’re wondering? We’ll here’s how you can use this new insight to your advantage and enhance your sales outreach strategy to improve ROI and generate better, stronger prospects.

Step 1: Draft an outside and save for a canned response

By having a canned responses, you are able to easily personalize your emails before sending. With pre-built templates, you can custom tailor a few key areas to improve the chances of getting a response.

The Aberdeen Group claims that personalized emails improve click-through rates by 14%, and conversion rates by as much as 10%.

Step 2: Schedule the emails

Instead of having to save all of these emails as drafts in your inbox to send at a later time, use a scheduling tool to get them out at the right time, the first time. Eliminating the need to have to come back and revisit again.

#2. Build trust

90% of companies report they will only buy from organizations they trust. So how do you get trust? You build it over time by keep your word and constantly engaging with your prospects.

The data says:

  • 83% of consumers are comfortable making a referral after a positive experience, Texas Tech University found.
  • Customers are 4x more likely to buy when referred by a friend, according to Nielsen.

Establishing a connection starts with doing the research. Find your buyers on LinkedIn, Twitter, and any industry-specific social channels well before you reach out.

Consider noting the following:

  • Where they went to college
  • Where they grew up
  • Personal topics of interest

Use this new information to make a personal and engaging connection with the prospect. Break the ice and start an easy and free flowing conversation.

#3. Send helpful content

95% of buyers chose a solution from a company that “provided them with ample content to help navigate through each stage of the buying process,” DemandGen Report discovered in a study.

The data say:

  • iMedia connection found 68% of buyers feel more positive about a brand after consuming content from it.
  • 82% of buyers viewed at least five pieces of content from the winning vendor, according to Forrester.

Relevant case studies help prospects see the bigger picture and understand how the solution works.

#4. Stay persistent

Salespeople quit too quickly. 44% give up after one follow-up, according to Scripted but closing takes time. Be patient and stay persistent. If you don’t hear back from a prospect immediately, following up is key.

The data says:

  • 80% of sales require five follow-up phone calls after the meeting, according to The Marketing Donut.
  • Inside Sales found that web leads followed up within five minutes are nine times more likely to convert.
  • The average salesperson only makes two attempts to reach a prospect, according to Sirius Decisions.
  • 93% of converted leads are contacted on the sixth call attempt, according to Velocify.

#5. Take advantage of ProspectNow

Let ProspectNow give you a competitive edge with access to over 100 million properties filtered by predictive analytics to help you find property owners most likely to list or refinance. Detailed property info includes phone numbers, building info and 30 million commercial tenants. Try it today and sign up for FREE.

5 Tips for Creating Email Subject Lines that Really, Truly Work

When you are trying to build an email marketing campaign, one of the most important things to build up is your CTR, or click through rate. Getting someone to open you email and engage with the content is half the battle. Since one of the easiest ways to connect with new prospects is via email, it is important to employ an email strategy that works.

We’ve talked about providing valuable content during email drip campaigns, but what happens if your prospective clients are not even opening your emails before they delete them? Studies have shown that one third of all email recipients use the subject line -and only the subject line – to decide if they will take the time to open an email. Because of this, it is important to create an email subject line that works. Fortunately, there are a few easy tips that you can follow that will help you achieve this goal.

Tip #1 Less is more.

A short, easy to digest subject line is usually the most effective. This is particularly true for people that check their email using a mobile device. The small screen size means that a long subject line will be cut off – increasing the chances that your email will be sent to the trash can. Focus on using keywords in your subject line and leave out any extraneous fluff.

Tip #2 Make sure the recipient will recognize the sender.

Make sure that the name in the  “from” field sounds like a real person. Emails sent from “noreply” email addresses tend to be viewed as spam and are therefore immediately deleted. Connecting your marketing email account to a real person’s name can help to increase the rate at which your emails are opened.

Tip #3 Include the recipient’s name.

Making your email blasts seem personalized can help increase your CTR. One easy way to do this is to include the recipient’s name in the subject line. Another popular method is to focus on their location using city or state specific titles. If you do not have access to this information, try to make it sound like your subject line is directly addressing the recipient using the words “you” or “your.”

Tip #4 Make sure the subject line is informative.

While this might seem obvious, it is important that your subject line is reflective of the actual content of the email. Your subject line needs pique the reader’s interest without making any false promises about what they will find inside the email.

Tip #5 Include action verbs.

Similar to including a call to action in your email, you will want your email’s subject line to inspire action in its reader. (In this case, you want to inspire them to open the email and learn more.)

If you can ensure that your emails always have interesting, informative subject lines, you will be well on your way to successfully prospecting via email. A strong email marketing campaign can put you on the road towards a successful year of prospecting.

 

4 Quick Tips for Launching Email Marketing in 2017

With the first quarter of 2017 coming to a close, you might be thinking about how you can improve your marketing plan moving forward. Email marketing is one of the most cost effective ways to reach a large number of people with a single click, so many businesses and real estate professionals have shifted more towards email marketing than traditional print media.

 

Quick Tip #1 Build Up Your Email List

The first step towards launching a successful email marketing campaign is to build up your email list. In order to do this, you will need to come up with a way to draw people in. Two popular ways to do this are to set up a giveaway or offer a regularly scheduled newsletter. Discounts and other promotions can also make these strategies more successful. You need to make people want to be a part of your email list. They are more likely to do this if you offer them something concrete and specific.

 

Quick Tip #2 Include a Call to Action

Consider what value you are providing to your reader, and think about what you would like the reader to do in response to your email. Make sure your emails clearly lay out your expectations for the recipients. An easy way to do this is to make sure that you send an informative follow up email to anyone who signs up for your mailing list. If you promise weekly, daily, or monthly updates, make sure that you follow through on your long term obligations. When possible, make sure that your clients are receiving informative articles in addition to your sales pitch. Do not just talk to them when you have something to sell.

 

Quick Tip #3 Pay Attention to What Works

Most service providers offer some sort of analytic software. The two most important metrics are the CTR, or click through rate, and the number of unsubscribes. If your click through rate is high, then you know you are distributing something that is valuable to your client base. Alternatively, if your unsubscribe rate is high, you might want to rethink your marketing strategy. Pay particular attention if there is any one email that sparks a wave of unsubscribes.

 

Quick Tip #4 Divide Your Email List into Focused Groups

If you offer more than one service or cater to more than one group of clients, you might want to consider forming more than one email list. For example, previous customers might be interested in different information than new prospects. Consider your target audience for every email blast. Using a “segmentation” strategy can help to improve your CTR, making your email marketing campaign all the more successful.

Once you have built up your email list and settled on a series of weekly or monthly newsletters, you will be in a good position to build a relationship with both new prospects and existing clients. After all, building relationships and growing your client base is one of the most important steps towards a successful career in CRE.

6 Tips for Powering Up Your Prospecting After the Holidays

Many commercial real estate agents get into a rut when they go back to work after the holidays, but if anything, the beginning of the year should be when you power up your prospecting. The start of a new year coincides with the setting of new sales goals and the resetting of yearly metrics, so start off the year right by getting a jumpstart on your list of prospective new clients.

Every good commercial real estate agent knows that the best way to grow your business is to set up appointments with new clients, so try to maximize your exposure to prospective new leads early on in the year. The momentum gained from starting off strong can continue throughout the rest of the year. This might even make 2017 your best year yet!

Tip #1 — Set Goals

Set weekly or monthly sales goals. Some people tend to get complacent right after they have closed on a high value sale. They have met their revenue goal for the week or month, so they feel like it is okay to take a short break from prospecting. Try not to let this happen! Having an easily gauged metric of success (or several metrics of success) can help motivate you to keep up with your prospecting. Devote a certain number of hours each week to prospecting, and do not stop until you meet this target.

Tip #2 — Prioritize

Look at your list of potential new prospects and decide which ones are your priority. Devote extra time to winning their business. Spending more time following up on promising leads can help to increase your success rate.

Tip #3 — Improve Email Marketing

Work to improve your email marketing campaign. Filling your clients’ inboxes with information that is not interesting or valuable to them is a good way to get your future emails sent straight to the recycle bin. Make sure that your email marketing is targeted and full of information that is relevant to your clients.

Tip #4 — Expand Partners

Consider expanding your list of business partners. Working with another company that offers a complimentary service can help both your company and your partner company expand their list of clients.

Tip #5 — Review Value Prop

Make sure your value proposition is in line with your clients’ priorities. The first step towards accomplishing this is to make sure that you know your clients’ plans for the year. You might need to change your strategies in order to keep up with your client’s needs. Many businesses operate under a shifting set of metrics, so in order to help your clients, you will first need to make sure that you are up to date on their goals.

Tip #6 — Don’t Forget Old Leads

Do not forget about last year’s leads. If you were working with a company in December, chances are the project is still ongoing and relevant. Make sure you stay in touch with all of your clients from the 4th quarter of 2016.

Starting off the year strong and focusing on your most promising prospects can help your business succeed in 2017.

 

5 Ways to Warm Up a Cold Call with Lead Intelligence

Nobody looks forward to cold calling prospective leads, but any good agent knows that it is an integral part of building their network. Creating a sense of camaraderie with your prospective lead will make him or her more interested in listening to what you have to say. Fortunately, there are a few easy ways to make sure that your phone call comes off as friendly, personable, and helpful rather than cold and intrusive.

Doing your homework ahead of time can help to drastically increase the success rate of your cold calls.

 

Strategy #1: Find the Right People

Make sure you are talking to the right people. Most companies have dozens if not hundreds of employees. A little advanced planning can help to ensure that you are calling the right employees at the right time. Creating a targeted list of employees can help to limit the amount of time you will spend following up on dead ends within a company.

 

Strategy #2: Explore the Records

Exploring your prospective lead’s property ownership records can be another easy way to get inside their head. Past performance is typically a very good indicator of future behavior, so learning about their past and current commercial real estate purchases can help you to predict the types of property they might be interested in during future interactions.

 

Strategy #3: Review Past Communications

Take a look at your list of past clients. Are any of them similar to the business that you are planning to cold call? Consider what steps you took in order to seal the deal with your previous customer. While every business and every employee is different, it is worth thinking about how your successful interactions played out with similar clients in the past. Consider how you might be able to apply these strategies to a future cold call with another company.

 

Strategy #4: Research

Do your research ahead of time. In this day and age, most companies and high powered individuals have a strong online presence. LinkedIn and other social media networks can be a great resource for learning more about the company or business that you will be calling. Before you even think about picking up the phone, you should read up on the individual you are calling and the business that they work for.

 

Strategy #5: Consider Concerns and Needs

Try to get a sense of what your prospective client’s immediate concerns and long term needs might be. Figuring out what your client wants to accomplish and how you can help them get there is the first step to setting up a successful long term partnership. If the lead that you are cold calling feels like you understand their needs and their problems, they are more likely to stay on the phone with you long enough to start discussing solutions.

While none of these strategies will guarantee you a new client on their own, taken together they can help to make your cold calls a pleasant, successful interaction rather than a short, awkward phone call. The key to success is to gather as much information as possible before you ever pick up the phone.