January 15, 2009

John Surge says:
Welcome everyone. We will get started in just a moment.

John Surge says:
The format for today’s chat is free-form Questions and Answers on any marketing-related topics. Please feel free to ask questions, share experiences and interact with each other. The chat will last 45 minutes. We hope you enjoy this free resource of Hobbs/Herder.

John Surge says:
Welcome! By way of introduction, my name is John Surge and I am the President of Hobbs/Herder. I have worked closely with Don and Greg over the last 18 years, and my specialty is helping agents and companies develop successful marketing strategies.

We’re glad you took time out of your day to work on your business and work on your marketing.

John Surge says:
Let's get started. Who has the first question?

jnevins says:
I don't hear you talking --- is that correct?

John Surge says:
Jan, this is a text chat--an online chat room. It is not a webinar.

jnevins says:
ok

edie jahn says to John Surge:
Happy 2009!

John Surge says:
Yes, it's 2009 and a New Year filled with new hopes and opportunity. A great topic for today.

jnevins says:
I am finding that buyers are not motivated --- and I'm not doing a good job of motivating them. I'm in Houston, TX --- inner loop, so we are in pretty good shape compared to the rest of the county

John Surge says:
I'm here to answeer any burning marketing questions you have. What's working, what's not working, what are you planning?

msb says:
Had to cut back on marketing dollars. What are the top areas to stay in

John Surge says:
Well, there is a sit on the fence mentality. Greg Herder recently wrote a special report that is part of the Gateway seminar binder on how to help buyers think about their buying strategy. The best way to get buyers off the fence is with the correct listing price.

jnevins says:
yes, in Houston that's a problem too. Sellers aren't coming down because, especially in the inner loop, there just aren't hardly any foreclosures happening.

rachel says:
A lot of buyers still think that the market is going to go down even more and want to wait it out.

jnevins says:
you are right, rachel

John Surge says:
MSB, well, in lieu of a rekting and advertising budget, you can concentrate on public relations and also strategic networking. Additionally, niche marketing still works with the right focus.

robule says:
John, although wew should strive to build relationships with everybody we mail to, it's true that relationship marketing will be most effective with the people we have met. Does this mean that personal letters (here's what's going on in my life) might not be the best form of communication with our "haven't met" database?

John Surge says:
Yes, but homes that are priced right are selling. There are sales happening.

jnevins says:
what would the right niche market be right now? Boomers retiring?

msb says:
30 million plus producer. Pipeline dried up 11/08. A bit confused now!

John Surge says:
Rob, most definitely. Or the content is altered slightly; maybe the people you haven't met get info on the market and the community or neighborhood.

John Surge says:
Msb, how was the pipeline generated prior to November?

msb says:
Lots og image marketing Costly

John Surge says:
Jan,that really depends on the area and your interests and orientation. Niche marketing is a marketing tactic that can help focus your networking, your PR and your advertising and other promotion.Boomers who are retiring and downsizing might be a nice segment to explore.

edie jahn says to John Surge:
I have prepared my first mailing of my personal brochure to my main Sphere of Influence with my cover letter. that focuses on my theme - "On A Positive Note". I feel NOW IS TIME to educate our clients that this is the best Buyers Market in History. I delayed taking my mailers to the Post Office today because it's -24 below in Sugar Grove, Illinois. I need cost effective advise to my follow-up mailing to my sphere of 900.

jnevins says:
edie --- I like your way of saying that

John Surge says:
Msb, well, you have to make a decision if you are going to allow all of that brand goodwill to fade once you turn off your marketing efforts. Look for a way to stay in the game.

Ellen Calman says:
Where are you MSB? I am having a similar experience.

robule says:
I saw in Don's November eNews that he referenced phone calling and voice broadcasting. In this day of the Do Not Call list, even if you scrub your your database does H/H feel that these phone calls would be welcomed or viewed as an intrusion and resented by the "Haven't Mets"? - or was that article strictly referencing the "Met" database?

jnevins says:
Edie, maybe you send it to 200 & see what happens before sending to the entire 900?

msb says:
Reading the book Shift. Just started. Sd to cut cost to bare min. Still getting inventory but no buyers.

msb says:
Southeast NC

jnevins says:
msb --- that's Gary Keller --- Lead with Revenue

cmcartor says:
Let's talk about marketing. I mailed out my initial 1250 brochures to my farm area (where I already have sold several properties in the past) in November> I then followed that up with a powercard mailed out in early December and then another powercard on December 29th. I just created my newest powercard ready to be mailed out the third week of January. No results or calls yet as a result of my marketing but, I am a firm believer that "activities produce results".

John Surge says:
Edie, you need to realize that this sort of message will need to be repeated and re-emphasized. Give them information on homes that are being bought and show them how they have more buying power and, perhaps turn their present home into a rental. But you need to keep the message coming. Perhaps you can hold a workshop on the subject, write an article, etc.

jnevins says:
cmcartor --- what's a powercard?

Ellen Calman says:
I followed the 90 day plan with very little success, so I'm trying to figure out what's next.

Ellen Calman says:
The one piece that's delivered the best results though was handing out the personal brochure.

robule says:
I sent out a two-page market update letter, calendar, and H/H personal brochure to a mailing list of about 2200 (SOI, Geo Farms). It's always an activity stimulator and it has proven true again this year - 4 listing appointments and a couple of buyer calls in the past week.

Ellen Calman says:
The PowerCards were a very expensive way to market to people who don't necessarily need me now.

msb says:
Have used Powercard style since around 2000. Works for getting listings

John Surge says:
Other experts will say the downturn is when to turn up the heat. It's all about how you are positioned with finances. Remember, transactions are getting done, there's just fewer of them.

cmcartor says:
Powercards are the advertising postcards that realtors send out in the mail promoting themselves and their services. Not seen much these days in the mail because of the economy and peoples tighter budgets. I personally feel that this is the best time to be sending them out.

jnevins says:
ok, cmc --- I do that, but I try to have a real purpose for them --- a specific message

Ellen Calman says:
It is definitely a long term prospect. I just picked up a great buyer through a listing on Realtor.com but when we met to draw up contracts and I gave him my brochure, he said he knew all about me through the Powercards I sent. However, they were not the reason he called me. They might have been the reason that he has confidence in my abilities. Who knows.....

John Surge says:
CM, are you making the suggested calls? Are you conducting the PR activities and other activities in addition to the mail plan? The key is that marketing is a snowball process that needs consistency over time and you need to make the decision what that looks like for you. Ellen, that is ALWAYS my number one recommendation, expecially for small budgets, but it should be a part of EVERY marketing campaign.

John Surge says:
Rob, that's great, but I don't think that was true when you first started. It takes time but it's nice to see your patience paying off.

monika says:
I started with research and now realize that the 2 farming areas that created enough sales in 2008 are already farmed by top producers. All other subdivisions don't create enough sales for the sales amount I would like to have in 2009 and have 2000+ households. What do you suggest?

John Surge says:
CMC, have you thought about attending a Hobbs/Herder seminar?

Ellen Calman says:
I am definitely being proactive with the PR this year.

cmcartor says:
Can you tell me more about the suggested calls?

jnevins says:
ellen, what are you doing for PR

Ellen Calman says:
I spearheaded the toy drive in my office, so that was January.

robule says:
Actually, I was one of the fortunate ones...that letter got me going in the first part of 2007 and has always generated the most phone calls - but you are right, patience, consistency and perserverence are key.

Ellen Calman says:
February will be about my sales successes. I have an 18 DOM record versus 57 for the market, etc.

Ellen Calman says:
I just got my company's Customer Service Award which is based on consumer serveys, so that'll be March.

John Surge says:
CMC, the calls are part of our program called How To Generate 10 Transactions in 90 Days With Yur Personal Prospecting Brochure. Basically, it's follow up and conversation with your Sphere.

edie jahn says:
I have not utilized the Power Kard and would appreciate suggestions on my first "follow-up" content....and contact by you staff.

Ellen Calman says:
CMC, that was the key to my 50% sales increase in 2007 and I got so busy I lost focus so I pulled out the 90 Days brochure again.

John Surge says:
Ellen, that's great. Good ideas for press topics. You can also put those messages/acknowledgements on your PowerKards and mail to your farm.

Ellen Calman says:
Excellent idea; thanks!

John Surge says:
Edie, not sure what you mean by contact by the staff. As for follow up, just tell your 900 folks what you think they need to know about being a buyer in today's market. Speak to them as the expert.

John Surge says:
How are we doing? Am I keeping up? Everyone get their question answered? Any follow ups?

cmcartor says:
I do my best to keep in contact with my sphere with phone calls, personal notes & pop-by's. My major concern is building my presence in my farm area. Any other suggestions.

robule says:
My traditional office has historically paid for postage on mailers - now they are cutting back on that benefit to only one mailing per month. My activity has been more than that - two to three mailings per month of various types. While my activity has generated activity, I am worried that a reduction in frequency will translate into a reduction in results. Is the recommendation to consistently mail one time per month, or to bite the bullet and pay for the postage on the extra mailers with the anticipation that it will be recouped in additional business?

monika says:
No, my question didn't get answered.

Ellen Calman says:
The latter. The public forgets us something like every 11 days.

edie jahn says:
My biggest challenge is the fact that Sellers choose not to accept the 10% reduction in property values to benefit the benefits of purchasing in today's "Buyers Market".

John Surge says:
Rob, og to management and see what you can do. Maybe you could negotiate a different split for a certain time periiod. Overall, though, see if you can develop the budget for at least two mailings per month. You can do 1 each in Nov and Dec. Then look for ways to augment what you're losing with networking and handing out the brochures.

John Surge says:
Monica, can you please re-state your questions. Sorry to have missed it.

Ellen Calman says:
Edie, Same here!! The properties that are selling are relo. properties where the company has no emotions and just does what has to get done.

Ellen Calman says:
I think it takes 6 months for the public to understand market shifts. I've lost two or three listings in the past two months because I told the sellers the truth. On the other hand, they're still on the market.

monika says:
I started with research and now realize that the 2 farming areas that created enough sales in 2008 are already farmed by top producers. All other subdivisions don't create enough sales for the sales amount I would like to have in 2009 and have 2000+ households. What do you suggest?

John Surge says:
Edie, that's a an area of presentation and communication of information and being able to stand by the tough conversation with sellers about pricing realities.

John Surge says:
Ellen, that's great work. Better not to take unrealistically priced listings. Keep an eye on those when they expire.

Ellen Calman says:
I think there are a lot of potential sellers out there in financial trouble. A gentle Powercard about this could be good. Any suggesstions John?

edie jahn says:
I agree,t John. How are "Short Sales" and Bank Owned properties impacting your specific areas? They are killing me in the Chicago market!

robule says:
Monika, it depends on the results the TPers are generating. If they have a 30% or more market share each, then run away. but if the turnover is healthy and they are only getting 5-10% of the market, get in there and mix it up with them. If you have a good campaign, you will get results.

John Surge says:
Monica, you will have to make a decision about the popularity of those top producers and whether you can take marketshare from the listings they are not getting or you can cut into their market share. Any ideas about why the difference in sales turnover between the different farm areas?

Ellen Calman says:
It could also be a good plan to shadow these Top Producers listings and market to their expireds. Someone in my company did that very successfully and now has a great share of the farm. TP's often get lazy and forget service.

John Surge says:
Ellen, sure, why not. Write an article about the strategies. Post it on your website. Then do PowerKards promoting the information. Are You Fearful that Financial Troubles Might Lead to Foreclosure?

Ellen Calman says:
Where on the web site?

John Surge says:
Ellen, well, you would have a link and headline on the home page that takes you to the text of the article.

robule says:
According to the Institute of Regional Forecasting, in Houston REO's and foreclosures represent approximately 40% of the market (solds). I use that statistic to my advantage in listing appointments - "You have to be the best home in the price range to get sold". If your client is surrounded by foreclosures, then it is what it is...they can get real or they can stay put. Why work on something that is grossly overpriced?

monika says:
Yes, the one subdivision is the most popular among relocation people, they don't stay long in our area. It's also one of the most expensive - lots of foreclosures.

John Surge says:
Monica, some good feedback from Rob and Ellen. Sometimes you can actually flank the Top Producers who don't appeal to everyone, but get the numbers and go from there.

Ellen Calman says:
Is that something I can do myself? I didn't know that I could tweak the home page myself. I thought your web geeks had that control alone.

John Surge says:
Ellen,

Ellen Calman says:
John,

robule says:
I like the idea about using a PowerKard to "tease" an article on my website...I'm going to have to use that!

John Surge says:
Ellen, I think you can actually post this as a custom message if you have a Hobbs/Herder site. Contact the MegaAgent team and they can walk you through this.

Ellen Calman says:
Great, I'll do that. I've gotten two terrific ideas here and I'm always looking for a way to send traffic to my site.

John Surge says:
Remember, an article, a special report, a market update...it's all the same thing. It's content that shows your expertise and generates a lead of someone who has interest.

Ellen Calman says:
I could even post some of my PR on the site.

John Surge says:
OK, we have about 5 minutes left. I hope you have received some good information. Keep those questions coming and let's finish strong. Feel free with any follow ups.

monika says:
Alright, I will give it a shot! I will let you know in the future who was more popular!

Ellen Calman says:
Monika, You will be!!

John Surge says:
Ellen, yes, you can use the Ad Gallery function in MegaAgent to post you PR info

edie jahn says:
Can we print the responses from this session?

Ellen Calman says:
I must profess my ignorance, I don't know what the Ad Gallery function is. I'll have to investigate

Ellen Calman says:
Has anyone used the digital printing group for powercards?

Ellen Calman says:
I used them when they first started up and there was a good two week delay. Has that timeframe shortened up?

John Surge says:
Two reminders: we do this every Third Thursday at 10 am pacific and 1PM eastern. Please mark your calendars. Also, make sure you are planning to attend or re-attend a Hobbs/Herder seminar. Go to http://www.hobbsherder.com/seminars for the calendar. Read marketing articles on our website and sign up for Free Enews.

robrule says to Ellen Calman:
Haven't used them - we have an in-house printer

Ellen Calman says:
Lucky you! Sounds like a progressive company.

John Surge says:
Ellen, that's not the case now. Please contact Patrick Huskey and he can get you a better experience. It's really humming along right now.

John Surge says:
OK, well it's time to sign off.

Ellen Calman says:
Great, thanks!! Have a good year!!

John Surge says:
Thanks for your time and great input today.

robrule says to Ellen Calman:
good bye!

monika says:
Bye and thanks!

jnevins says:
thanks, got 3 good ideas!

John Surge says:
We hope you received some great info and enjoyed this free service of Hobbs/Herder. Happy marketing and see you next month.

Ellen Calman says:
Ciao {kiss_smiley}

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