Selecting My Target Markets



Selecting My Target Markets

❑ Determine the source of every listing, sale/closing for 2004

❑ Figure the % for each source

❑ Determine the “out-of-pocket” cost of each source

❑ Geo-farms: Determine the turn-over rate, the percentage of business personally generated in the area and the % of business by your company in the area (market share) to make the decision to continue farming the area or changing to another area or type of prospecting.

❑ Track the following for each target market area which you are considering: # sides listed; # sides sold/closed; DOM; Average sale price; average sale commission

Marketing Plan: Marketing Myself & My Listings (Both property and people listings)

❑ Contact my PC & COI at least 12 times/year + mailings

❑ Work a “Re-Marketing” system for listing expired sellers

❑ Work the a drip system to list FSBO’s

❑ Utilize e-flyers for Feedback emails

❑ Use e-flyers for “Just Sold” emails

❑ Use sports schedules emails or post cards to sports fans only (right school only!)

❑ Use a real estate software program

❑ Use the Open House Tour technique to hold 3 to 4 high impact opens on one day

❑ Target market to “focus” areas only

❑ Send “Just Solds” to all past customers

❑ Develop “haves” and “wants” for my COI & PC data base

❑ Use brochure boxes on all signs with promo info on back of flyers (Action Plan for buyer clients; other listing map, etc.)

❑ Use a Press Release Farm & send releases at least quarterly

❑ Farm agents for referrals in at least 35 key markets across Midwest & US

❑ Farm agents in areas of my city that I don’t work for referrals in my focus areas

❑ Build a networking group of related professionals to share leads

❑ Build a mastermind group to “synergize”

❑ Contact personally at least 25 neighbors of every personal listing and select “borrowed” listings

❑ Use a “Referral Request” business cards for all REALTOR events, designation courses, and conventions listing the markets I serve, email address, web site…Figure the % for each source

❑ Use a business card with “keeper” back (street guide, amortization schedule, tip schedule, safety tips, Heimlich instructions, important numbers, etc.)Figure the % for each source

❑ Use a personal brochure tailored for my past clients

❑ Use a personal brochure tailored for my past clients and raving fans

❑ Use personal brochure for expired’s

❑ Use a personal brochure for FSBO’s

❑ Use a personal brochure tailored for out of town/relocation buyers

❑ Use a personal brochure tailored for first time buyers

❑ Use a personal brochure tailored for new construction buyers

❑ Use REALTOR credit card and REALTOR checks

❑ Use closing gifts that general leads (change of address cards with photo of house and “compliments of our REALTOR….” & return address labels for each family member with clip art of their top interest

❑ Send house anniversary greetings with 7-year campaign of house hints, maintenance to do’s, vendors, etc.

❑ Use my personal web site as “Information Central” for my PC, COI raving fans, etc.

❑ Use a “Homebook” for every listing with house, subdivision, school, community information and links (also available on my web site.

❑ Promote my entire “team” in all presentations including photos of them with me

❑ Promote all seller and buyer listings using e-flyers and my web site

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