Happy female agent

4 Ways to Stay Ahead in a Changing Market

No matter which part of Australia you’re in, there’s one thing that’s likely true: market conditions have changed. And as any experienced agent knows, change is inevitable. In fact, it’s often the only thing you can count on.

Some signs the market has changed are:

  • Fewer properties are coming onto the market
  • Properties are spending more time on the market
  • Auction clearance rates are lower
  • More circumspect buyers
  • Fewer overseas investors

And if all of these things happen in addition to conservative credit conditions, then it’s easy to feel as though things are slipping out of your hands as an agent.

But it doesn’t need to be this way. You can still survive in a changing market, and here are four ways to help you do it:

Work Your Buyers

  • Figure out how to follow up with the last years’ worth of prospective buyers and OFI attendees
  • Make a manageable list of buyers using your CRM, and then dedicate three hours per day calling this group. Write down what people say and then use this info to create further follow up plans
  • Send people accurate, relevant email alerts from your CRM.
  • Contact “hot” buyers (those who want to buy something within three months) and “warm” buyers (those looking to purchase within six months) at least once a month.
  • Help buyers understand that now is the time to buy; there’s less competition and vendors are more open to negotiation.

Serve Your Vendors

  • Vendors are uncertain during a shifting market, so make sure you’re communicating with them constantly to educate them and keep them calm.
  • But what vendors really want to hear is what buyers who walk through the door are saying. So, make sure to create and distribute a detailed vendor report regularly to keep your vendor apprised and motivated.

Build Your Rent Role

  • Jump on every opportunity you have to add existing clients’ properties to your rent roll, as these will be your saving grace in an unstable and changing market.
  • Have investment information available for purchasers, including rental appraisal and recent rents achieved for similar properties.
  • Show some sort of proof that your property management company is the only one to work with.

Make Your Agency More Efficient

  • What can you do to improve your business that also reduces costs?
  • Perform an audit of your different systems and processes to see where you could be doing better. Are there tasks being done that could be automated? Is there technology that can help make you faster and more accurate? A good CRM is a great example, as it allows you to organise all the information you have on your customers into one organised database.

The key to surviving a changing real estate market is to commit to a considered plan. It’s time to put in the work, and then it’s time to communicate, communicate, communicate!

Successful business woman

Five Ways to Build A Business That Can Last

One of the biggest challenges in the property market is how much it fluctuates. Recent booms have got people believing that success is easy, but this only sets them up for trouble when the market eventually readjusts.

As a result, it’s important to work to make your business sustainable. This means being able to take advantage of good times, but it also means knowing how to weather the bad times. Here’s how to do this:

1. Develop the Right Mindset

There is a saying that the market is “in between your ears.” And this is true. People will always be buying and selling houses, even if the market is low. So, it’s up to you to find out how to be the person who is selling these houses. And this involves developing a mindset around trying to maximise market share in all market conditions. To do this, you need to convince yourself there is always abundance in the market, and you also need to keep an optimistic outlook.

2. You Need to Really Care

Buyers will eventually become sellers. And after years of neglecting buyers, real estate agents are now looking at buyer care as a way of helping them secure future business. Think about it: if a buyer is treated well when they go after a house, who will they call when things turn around and they decide to become sellers?

3. Expectations Are Everything

You don’t need to lower your expectations, but you do need to be realistic. If you’re too ambitious, then you’re going to be more easily disappointed and overwhelmed. Work to set goals you can meet, as this will be far more sustainable in the long run.

4. Patience Is a Virtue

Famous Russian author Leo Tolstoy once said that the two most important warriors are time and patience. And to be a successful real estate agent who runs a sustainable business, then you need both. For example, when things get slow, you’re going to need to be much more patient than you’re perhaps used to. You don’t want to overreact to the market and take unnecessary risks. Instead, let the market react to you and put together a strategic plan for how you’re going to succeed. This will work much better than making rash decisions when things turn downwards.

5. Productivity Is King

When things slow down, it’s important to work to increase what you get out of every dollar you spend. Many people will slow themselves down in response to a market downturn, but this is the wrong reaction. You need to speed things up so that you can build up more relationships, increase your profile and bring in new business despite an overall downward trend in the market.

rea-blog0img

Realestate.com.au Introduces New List Price Rules

Realestate.com.au has announced changes to how they deal with the relationship between the search price and display price of listings:

Any listings loaded to our site from the 3rd of December with a display price outside of 10% of the search price will have the display price removed from the listing and replaced with “Awaiting price guide”.

These changes have been carefully considered by our teams and are being made to help improve our site experience by reducing instances where there is a material difference between the price displayed on a listing and the search price. This change is in line with our Acceptable Use Policy.

As part of the change, Realestate.com.au will also generate an error notification when processing updates sent via XML. While the error won’t block the listing from processing, it will be in place as a prompt to ensure your agency is alerted to the new rule and that a correction needs to be made to your listing.

The changes come into effect on the 3rd of December 2018. If you have any questions regarding these changes we recommend you contact Realestate.com.au directly on 1300 134 174

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RP Data Christmas Special

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Subscribe for 15 months by 30 November 2018 and they’ll give you the first 3 months access for FREE and a 30% discount on the following 12 months!*

Get that competitive edge and move into the new year on a high with access to market leading CoreLogic property data.

There is no better time to add value for your clients and grow your business with market leading property data and insights. RP Data Professional is the leading property data solution used by property professionals in Australia. This powerful property database helps you prepare reports for clients, value estimates, verify information and conduct valuable research and highly targeted marketing.

Grow Your Business

Letting RP Data Professional help you:

[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/4″][vc_single_image image=”14840″ img_size=”full” alignment=”right”][/vc_column][vc_column width=”1/4″][vc_column_text]Become the local market expert

Gain a real understanding of your local market down to an address level. Search for properties by suburb, street or individual address.[/vc_column_text][/vc_column][vc_column width=”1/4″][vc_single_image image=”14843″ img_size=”full” alignment=”right”][/vc_column][vc_column width=”1/4″][vc_column_text]Win new customers

Identify new business opportunities by understanding changed ownership status. See properties that have been on the market for extended periods or that have recently sold, and who has listed or sold them.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=”1/4″][vc_single_image image=”14842″ img_size=”full” alignment=”right”][/vc_column][vc_column width=”1/4″][vc_column_text]Engage with prospects and clients

Have informed conversations with prospects and clients based on your knowledge of property pricing, features and ownership status.[/vc_column_text][/vc_column][vc_column width=”1/4″][vc_single_image image=”14841″ img_size=”large” alignment=”right”][/vc_column][vc_column width=”1/4″][vc_column_text]Gain a competitive advantage

Tell your unique story, position yourself and your brand, and showcase your local expertise with Signature CMA Reports and Comparable Sales Reports.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_cta h2=”” style=”flat” color=”white” add_button=”right” btn_title=”Enquire Now” btn_color=”danger” btn_size=”lg” btn_link=”url:https%3A%2F%2Fwww.corelogic.com.au%2Frpdataprofessionalchristmasoffer||target:%20_blank”]

Interested in subscribing to RP Data Professional? Please complete the enquiry form and one of their friendly team members will get in touch with you.
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*This is a limited time offer open between 12am 07 November 2018 AEST and 11:59pm 30 November 2018 AEST (Offer Period). To be eligible for this offer and receive the first three months of your subscription for free and 30% off the regular price for the following 12 months of your subscription, you must be a new client who subscribes to RP Data Professional during the Offer Period, after enquiring through our contact form on this page. The free three months will be applied at the beginning of your 15 month minimum commitment, and the 30% discount will be  applied to your fees after the first three months has ended. At the end of 15 months, your contract will auto-renew in 12 month paid periods unless you give us notice in line with our general terms and conditions. This offer does not apply to the RPP Investor Prepaid and Starter packages found on the online store and cannot be used in conjunction with any other online offer.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]

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Powerful Content

Why Content Marketing Is So Powerful for Real Estate Agents

Content marketing is now the primary way we do marketing. It generates three times as many leads as any other outbound marketing, and conversion rates are six times higher. But for real estate agents, what does this mean? How does it compare to traditional marketing activity? And what do you need to be doing differently?

But first, we should define content marketing. It refers to a strategic marketing approach that focused on creating and distributing valuable, relevant and consistent content. It differs from traditional marketing in that the focus is not on how great you and your products are. Instead, it’s about being useful and relevant to your audience.

As a real estate agent, you need to use content marketing to turn yourself into an attraction agent, which means you need to think about what people want before they sell their home. This way people begin to think about you as they start the sale process, making it easier for you to bring in new clients.

Here are some more benefits of content marketing:

1. Content Makes You an Authority

People hire a real estate agent not only because they think you have the best chance to sell their home, but also because they think you have the skills and expertise to get the highest price in the market. And content marketing is your chance to let people know you have this expertise, making it easier for people to see you’re the best person to sell their home.

2. Content Creates Awareness

Every real estate agent is walking around and stuffing DL flyers in people’s letterboxes. And while this might be helpful, it doesn’t do anything to help you stand out from the crowd. However, if you’re creating and distributing content about property prices, past people you’ve helped, market conditions, how to reduce stress when selling, etc., then you’re really offering something unique, which will help draw people towards you.

3. Search Engines Love Content

If the only content on your website is property listings, then you will always play second fiddle to the major listing sites, even at the local level. However, if you start to post content of your own, then this helps boost your status with search engines, making it more likely that your site will turn up higher than these other pages.

4. Content Encourages Engagement

When people consume content, it’s normal for them to finish reading and have questions. At first, this might seem annoying, but don’t take it this way. This means that people are reacting and engaging with your content, which means it’s good. And this also means people are more likely to think of you when it comes time to sell their home.

5. Content Improves Prospect Quality

Would you rather pitch to a client who knows nothing about you or who is familiar with your business and service you offer? Obviously the second option is better, and if you make use of content marketing then you’re going to have a better chance of generating these types of leads.

Overall, content marketing is a great way to get the word out about your business and to help you stand out from the crowd.

Instagram Marketing

7 Ways to Use Instagram For Real Estate Marketing

To be successful using social media for real estate marketing, it’s important to be on as many platforms as possible. But as compared to others, Instagram continues to be one of the most effective platforms. There are millions of users engaging with billions of pieces of content, and not using Instagram means you’re leaving opportunities on the table. So here are seven tips for helping you make the most of Instagram with your real estate marketing.

1. Only Share Your Own Content

People will follow you because of the content you create. If all you do is share other people’s content, then you’re not really providing value to readers. As a result, it’s important you only post whatever you create to your account.

2. Make Sure to Use Captions

It’s true that a photo is worth a thousand words, but this doesn’t mean a caption can’t help make your photo more impactful. Instagram allows you to make captions of up to 2200 characters, but this is likely way too much. Try to write something that doesn’t exceed 130 or 150 characters. Also, make sure to spend some time editing your photos to make them pop and come off as more engaging. All of this will help you attract interest, which is good for business.

3. Use Instagram Stories

This is an awesome feature that lets you post videos and keep them up for 24 hours. This helps create urgency because after these 24 hours the video will disappearing, meaning people need to act quickly if they want to see it. Stories are great for:

  • Offering behind the scenes looks at open houses
  • Giving home tours
  • Announcing open houses or upcoming projects
  • Sharing real estate tips and tricks
  • Revealing customer testimonials

4. Use Instagram Live

Although Instagram started as a platform for photos, it’s hard to discount how important videos are to a successful Instagram strategy. And Instagram Live Video gives you the chance to share videos in real time, making it a great option for showing off a property and soliciting questions from prospective buyers.

5. Post Testimonial Videos

Social proof of your success as a real estate agent will go a long way towards helping you reach new customers. And Instagram offers you an excellent platform for sharing this social proof through video. Even just short clips depicting satisfied customers explaining their experience working with you can go a long way towards helping you build up your reputation with current and prospective clients.

6. Don’t Over Edit

The most important thing you can do is post authentic content. And if you over-edit, then you’re going to lose this. It’s okay to use a modest filter, or to play with the colours to make things pop but be careful about going too far as this can hurt your overall Instagram presence.

7. Cross Promotes

You can set up your Instagram account so that whenever you upload content you also upload it to Facebook and Twitter. Make sure this is activated so that you can increase the reach of your Instagram content.

6 Tips to Help You Increase Instagram Engagement

FB Live

10 Ways to Use Facebook Live as A Real Estate Agent

Video has become one of the most widely used ways of communicating. And this is sure to continue in the future. When it comes to the real estate market, real estate agents can use video to help them boost their business. Facebook Live is just one of many video platforms that can help you succeed, and all you need is a smartphone and the latest version of Facebook to use it.

Here are some of the ways you can use Facebook Live in real estate marketing:

#1 Host a Live Open House

Open houses are useful ways for you to show off a property you are listing to interested parties. And by extending your open house to Facebook Live, you can reach a much larger audience, helping to increase your chances of making a sale. Make sure to invite those who view the property over the internet to come check it out in person, and also be sure to promote your event on other social media platforms. This will help encourage maximum participation.

#2 Virtual Showings

If you find someone interested in your property, you need to do all you can to get them to go see it. But some people are just too busy to be able to go see a property. Facebook Live allows you to do a virtual showing with these people that acts almost as a private tour.

#3 Provide Helpful Information

Any information you can provide to buyers is going to help you. It’s a great chance to establish yourself as an authority, which will draw people towards you when the time comes for them to buy or sell a property.

#4 Provide a Tour of the Neighbourhood

The area in which a property is located is almost as important as the property itself. However, it can be hard for someone to learn about the area when they’re visiting a property for the first time. With Facebook Live, you can drive around the neighbourhood and show people some of its more exciting features.

#5 Take Viewers on an Inspection

Most likely you have an inspector you refer people too, but it might be a good idea to tag along on an inspection and record it for your viewers. This will help people get familiar with the process and answer any questions they may have, further strengthening your position as a trusted authority and source of information.

#6 Host Q&A Sessions

Spend some time thinking about the questions buyers and sellers often ask and then create a video session around them. Spending some time clarifying some of the most common issues people can be very useful and help you establish yourself as a trusted source of information.

#7 A Day in the Life

Offering a sneak peek into what it’s like to be a real estate agent might not sound like the most exciting thing ever, but it’s a great way to make yourself more approachable and to build rapport with both current and future clients.

Facebook Live has opened the door for real estate agents to expand their marketing efforts. Consider giving it a shot to see how it can transform your business.

Agent Happy with Website

How to Get More Value from Your Agent Website

It’s never been as easy or as inexpensive to make an agent website. It’s easy to get value from them, but many agents don’t do enough, leaving opportunities on the table.

Real estate is interesting in that even if you get a job, you’re not done trying to make a living. It’s your responsibility to find ways to secure more listings and expand your income. Of course, you could just rely on whatever leads your agency throws your way, but it’s best to be more proactive. And highly-visible agents—ones who use a website, for example, end up getting more listings.

Why a Personal Website is Vital for Real Estate Agents

Be Seen and Get Found: Step 1

The absolute first thing you need to do as a real estate agent is to get a website. But it’s not enough to just have the site. You need to get people to visit it. Of course, you can pay a bunch of money for advertising, but it’s best to try and make use of some of the free ways you can promote your site, such as:

  • Put your website on your business card
  • Add your website to your Facebook page to make it easy for people to jump from one platform to the next
  • Do the same for LinkedIn and Instagram
  • Add your website to your email signature
  • If possible, also put it on any “property sold” signs you have floating around

Be Seen and Get Found: Step 2

A really good agent or team website, while making use of the tactics mentioned above, will really be designed for digital marketing. There are countless ways for you to attract people to your site, and many of these methods are quite cost effective, especially when we compare them to the cost of a letterbox drop.

Facebook and Google both offer powerful advertisement options that allow you to target ads based on the specific attributes of your target audience. So, for example, if you have a few listings that would be best for a younger couple looking to buy their long-term family home, then you could advertise directly to this block of people, helping bring not only traffic but high-quality traffic to your site, increasing your chances of you securing good leads.

But even more effective is retargeted marketing, which is something digital marketing does best. This is when ads appear in front of people who have already showed an interest in your site. For example, if someone visits your site and looks at a few properties, you can set things up so that these individuals see another ad from you down the line, reminding them you’re around and an option to be considered.

Overall, there are countless things you can do to get your site in front of the right people. But the first step is to actually make a website that showcases your business and gives people something to get excited about.

With our agentPages.com.au product, you can stand out from the rest and enhance your digital footprint with a beautiful and affordable looking personal agent website.

No clickbait

4 Ways to Be More Authentic on Social Media

Social media has given brands a whole new set of tools for reaching their target audiences. And although it’s relatively “easy” to get in front of the right people, it’s much more difficult to ensure your content is having the right impact.

There’s no magic formula for making this work, but nearly everyone agrees that a successful social campaign works to generate authentic content. This is because people can spot inauthentic material from a mile away, and this is going to have a big impact on how they perceive your brand. Hint: paying a celebrity to claim they’ve never had cereal before, and that yours is the best, probably won’t be as effective you want it to be.

As a result, you need to work hard to create authenticity with your social media efforts, and here are four ways to help you do it.

1. Be Honest and Transparent

This should go without saying, but far too many brands try to pull a fast one on their audiences, and this always backfires. Using overly-edited photos and sensational/questionable headlines may get you more likes and shares, but is it really driving the type of engagement you want? Probably not.

Make sure you and any influencers you might be working with filter some raw content in with the professional stuff. This helps your brand seem more “real,” which will attract a better response and more positive brand associations.

2. Stop with the Calls to Action

At its core, a marketing campaign is designed to drive sales. But try to avoid turning every online interaction into a plea to “buy now.” People will get sick and tired of this, and they’ll begin to question why they are interacting with you in the first place.

It’s better to take a broader approach and use your social media presence to build relationships around trust and transparency. This way, when you do post something encouraging action, people are more likely to respond.

3. Own Your Mistakes

Mistakes are normal. You likely won’t be judged too harshly for innocent missteps. But you will be judged by the way you respond. Deleting content, or ignoring a mistake you made, is only going to make things worse. People who saw it will never forget, and if you don’t do anything to address your error, this is the impression that will stick in their minds. It’s much better to just come out and apologise, as this helps establish credibility and makes your social presence feel more human.

4. Avoid Clickbait

Obviously, we all need to work to prove social ROI, but this doesn’t mean you should jump on every trend and use it as a way to try and draw clicks and likes. Doing this will just make it look like you’re trying too hard, which will present you as less authentic than you want to be. Instead, focus on creating good, engaging content that could stand as a permanent attribution to your brand, as this is what people want, and it’s the content they are far more willing to interact with.

Take time to plan out a strategic, authentic campaign, and you will be rewarded with better engagement and higher returns on your social content.

Facebook Advertising

How to Advertise on Facebook

Facebook has over 2 billion users, and this is one of the main reasons it is such a giant in the world of marketing and advertising. However, Facebook’s ever-changing algorithm makes it difficult to continuously connect with fans in an organic way.

As a result, advertising with Facebook itself has become one of the most effective ways to take advantage of the audience access this mega social media platform offers.

But advertising on Facebook can be complicated. And the most difficult part is often choosing which type of ad to run. To help you, here’s a list of the different types of ads you can buy from Facebook. Knowing more about what’s out there will make it easier for you to choose the right one for your objective.

Photo and Video Ads

These simple ads pop up on people’s newsfeeds and can quickly communicate something to your target audience. They are a great chance to show your product in action, or to demonstrate to people why your product is something they must have.

Carousel Ads

These ads show up to 10 photos or videos, making them a great way to highlight the different uses or variations of your products.

Slideshow Ads

You can make a slideshow out of a collection of photos, which creates a simple but captivating ad that can be quite successful in reaching your target audience.

Collection Ads

These are offered only to mobile users, and they allow you to showcase one or more products that people can buy. These ads allow people to make purchases without even having to leave Facebook.

Instant Experience Ads

This is a full-screen ad that loads 15 times faster than a mobile website out of Facebook. It’s designed to showcase one product and encourage people to make a purchase while they are inside Facebook.

Lead Ads

Only designed for mobile devices, these ads are made to make it easy for people to give you their contact information. As a result, they’re perfect for collecting emails for your newsletter subscribers list, or for signing someone up for a free trial of your product, making them a great option for generating new sales leads.

Dynamic Ads

These ads respond to a person’s web activity, which helps you target those who may be interested in what you offer. For example, if someone visits your site but doesn’t buy anything, or if someone puts something in their cart but then cancels it, this will trigger a dynamic ad to show up on their feed, giving you another chance at making the sale.

Messenger Ads

These allow you to connect with people on the popular Messenger app, which is used by over 1 billion people per day. And they’re simple to make. When creating the ad, just choose Messenger as a desired placement.

So there you have it: all the different Facebook ads you can use to help promote your brand and products. Consider what you hope to get from the campaign, and then choose the combination of formats that will help make it a success.