Can you Market @ 100 MPH?
June 22, 2008
Mitch Ribak is an interesting guy in the real estate business. These days, not many people can say that they have a team of 20 some odd agents and employees, in Florida (arguably a tough market), your business is GROWING and that all of your volume is due to the internet.
The key to marketing for Mitch isresponse, follow up and converting leads. Want to find out what he does that others don’t? Check out his marketing site and learn how he markets at 100MPH. The answers are surprisingly simple and basic. This points us to an even bigger lesson. Why don’t more people market Mitch’s way -a 100MPH?
We have added Mitch as part of our team of reporters here at REIW. Feel free to contact Mitch with questions or just to say “hello”.
Do lighted signs bring more buyers?
May 3, 2008
According to some real estate professionals, they do! The new trend in lighted signs extends the hours that drive by traffic will stop, see the sign and call on either the agent OR on their automated voice information service. The other contention is that lighted signs actually pull in traffic who see them and are drawn into them much like a moth to a flame. I am not sure that is true, but in this tight buyer’s market, it may well be worth looking into.
In a recent blog post Greg Swann (a REALTOR in AZ.) and Kris Berg (a REALTOR in San Diego.) indicated that they were both at various stages of using lighted signs. Are there issues and hiccups along the way? Yes. Without a doubt, there will be. However, today’s intense search for buyers may well make using these “extra” marketing tools not quite as “extra” as we used to think.
Retiring Agents looking for Exit Strategies
April 6, 2008
In one Louisville RE/MAX real estate firm, the average age of the 120 agents is 55 years old. This is typical of many brokerages who have many of their agents over 60 years of age. These experienced agents are not being replaced by near as many younger agents. They have built up solid books of business over the years and are now starting to need exit strategies that will provide them passive income into the future.
A growing trend is to try to pair agents up into a mentoring relationship with younger professionals who not only can assist with technology and the latest techniques in building more business, but who can provide the agent nearing retirement with more time off and a better quality of life.
Is your brokerage profitable?
April 6, 2008
Many brokers have to sell as agents or teams in order to make ends meet. A brokerage is not profitable unless it is stand alone profitable with out the income generated by the sales efforts of the broker. So where does your brokerage stack up? Real Estate Industry Watch is taking a survey.
To participate in the survey, you need to click whether or not your borkerage is profitable on our “survey section” on the right hand side of this page.
Real Estate Quote of the Week
"I often hear remarks from agents like, “the bank sold that house really cheap - 30% below market value”. I don’t agree with that kind of statement. If various banks are the only sellers selling in an area and they are selling all of their houses at a perceived “below market” sales price - perhaps that IS the market for that product in that area. A good price fixes any of the various bad conditions. There is no good reason to take (or keep) a listing that isn’t going to sell."
Russell Shaw - in AgentGenius from Phoenix AZPolls
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