July 17, 2008

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:
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 17 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.

edmixon says:
What to do about non response to any of the mailing programs

John Surge says:
Let's get started. Looks like Ed's ready to roll.

John Surge says:
Ed, tell me more. How many, how long, to who?

edmixon says:
I first started with the expireds. I followed the program for 8 weeks.

John Surge says:
So, we're talking about conducting an expired campaign, correct?

edmixon says:

That is a good start.

John Surge says:
Did you make personal contact with the expireds?

edmixon says:
i attempted, but mostly answering machines.

personal contact isn't via phone, is it?

John Surge says:
OK, that's good. A key is to be able to follow up with the expireds and get talking to them so you can find out information. Personal contact could be by phone or by visiting the home. Either way. So, take one expired. What did you send and in what timeframe?

edmixon says:
It's as close as I could get, except in one instance. The gentleman thanked me for stopping by, and for the information.

tj.thiara says:
John, I'm doing a direct mail campaign, have done 7 mailouts since April 1st to a geographic farm of 1900 homes. I got one call for a CMA and nothing else.

John Surge says:
Tj, we'd have to drill down but I will tell you that 110 days is not enough time to have a campaign kick in, but we still need to know how many listings were taken in those last 110 days, by whom and I'd also like to know what you are mailing for those 7 mailings.

lata0609 says:

What is the best way to handle expired. how do you go about contacting them

tbaltz says to John Surge: Hello,

John Surge says:
Without the opportunity to go into great detail, Ed. Expireds are an area that require discipline and constant monitoring and market adjustments as well as personal contact sales calls. Any marketing needs to be done in extreme concentration upon the listing expiring. Expireds aren't for the meek. To answer Lata's question, we recommend an intense marketing effort right upon expiration with complementary sales contact, either by phone or by visiting the home. We have even recommended having a package delivered the day of the expiration by courier. You have to be aggressive and then you have to track the numbers of how many resigned with the existing agent.

tj.thiara says:
Mostly bankowned up here with a sprinkling of short sales. Regular resales are far and few between here in Elk Grove area right now. I'll look into how many homes were listed. As for what I'm mailing, 5 mailings were powerkards with just sold, just listed and market data, 1 mailing was letter with my brochures and 1 mailing was special reports offer.

John Surge says:
A key to the direct mail program is consistency over time plus relevant marketing messages. Frankly, 7 mailings will not transform your business. You need to build over time in a market not dominated by one or two agents. TJ, were you able to convert the CMA into a listing?

robrule says:
John, I've got a FSBO campaign going right now that lasts about 8-10 weeks. Once entered into the system, the prospect gets a piece of mail from me every week, either a special report, a letter, or a panel card. I do not contact them by phone as part of my plan because I don't want to mess around with Do Not Call issues. I have only been doing this for a few months, but I haven't had any response as yet. Suggestions? In addition, if I get to the end of the campaign, do I drop them from the list, put them on with sphere mailers (2x/month) or implement some other plan?

John Surge says:
TJ, OK, well if there are few listings being taken you have to take that into account. You won't create demand for a home to be sold. So, you have to gauge what your goals are. Are you accelerating while others are going inactive? Is your target market turning? Can you use your marketing materials to approach banks? Your program is fairly new. Can you offer a report that really speaks to what's going on in your area of California?

rebecca says:
I just relocated and have to start from scratch. My Fiance (reason for move) is a builder of 20+ years. I know no one and am trying to gain exposure. Joined R/E firm, where should I start? Builder's leads aren't too strong now, but I'm networking and establishing good contacts. Not familiar with H.H. would like to know how I can brand myself with a specialty market, etc.

tj.thiara says:
John, CMA homeowner is upside down so he's not listing in this market, just going to stay put. Yes, I realize it's for the long term, just anxious...got lots of buyers I'm working with though and getting them into some great deals. My strategy right now is plant the seeds for listings by keeping up with my direct mail schedule and work with buyers in the short term. I am hearing from neighbors and fellow realtors that my marketing materials are getting noticed...good thing!

John Surge says:
Hi Rob, I'd like you to do more research to find out what happens to the homes after 10 weeks. Are they selling their home? Taking it off the market? Signing with another agent? Then I'd say you might have to test different messages and offers. It would be helpful for you to talk with the FSBOs to find out what's happening so you can tweak your marketing to speak to what they are feeling right now. Does that help? Follow up if necessary.

John Surge says:
Rebecca, there's a lot to cover there. Where are you located now?

rebecca says:
PA - about an hour from my prior hometown. Different MLS board, etc.

Nathan Turner says:
John, generally speaking and in your opinion -- What kind of knowledgeable information do you think the consumers are most hungry for and interested in seeing on the marketing they receive? Especially in a market that makes them feel unsure...?

John Surge says:
TJ, that's the trick. Great that you have buyers. You have to gauge whether you can commit to a budget for the long haul. I'd rather see you commit to a mailing budget that you can stick with rather than front load it and then quit. Keep thinking about ways to attract buyer's leads. Stay active there and then stay committed to your target market--but make sure you have mechanisms for meeting people and strategic networking where you can pass out your brochure personally as well as your mailings. You will be snowballing as the market returns.

robrule says:
Usually after 10 weeks the home is still FSBO. Most research I've seen indicates that FSBOs give up and list with an agent after about a month, which is why I set up a 10-week program. I've been getting my leads from FSBO magazines, so I guess it's possible I'm selecting a more dyed-in-the-wool brand of seller. I've been using the H/H letters and programs with a couple of other systems sprinkled in.

John Surge says:
Rebecca, I would highly recommend that you get to a Hobbs/Herder seminar. We have a Gateway upcoming in Washington DC in September. Check Hobbs.com or contact Paul Quigley in our offices. This will give you a great foundation. Otherwise, you're asking the right questions. You need to get the information to select your target market. I think aligning with a good manager who thinks like you and can help coach you would be highly effective. I would not discount the builder angle.

tj.thiara says:
John, thanks, good to hear you reconfim what I'm doing. I'm going to excuse myself from the chat room, bye all!

robrule says:
Rebecca, I also second the recommendation that you get to Gateway. It WILL substantially change your life and business. If you want more details email me at rob@goldenrulehomes.com and I'll be happy to tell you about my expereience.

John Surge says:
Nathan, what home owners or buyers want is at time universal and at times very market specific. You have to keep in tune with what's happening. The good thing is through marketing you can test offers for reports or information until you hit something that strikes a chord. For this market, we recently created a special report called How to Sell Your Home in a Buyer's Market that is part of the Gateway.

rebecca says:
I'm studying for the ALHS designation. That is what the builder specializes in. I would be the 1st in the entire region (meaning all of central PA) with this designation.

John Surge says:
Rob, thank you for that. Rebecca, I think it would be great for you to talk to Rob. He's very creative and it helps to form aliances with agents from around the country and share ideas. I think you're on the right track with specializing.

John Surge says:
OK, how are we doing. Are you getting your questions answered? Did I miss anyone or anything? Any follow ups? Feel free to drill down.

robrule says:
John, Usually after 10 weeks the home is still FSBO. Most research I've seen indicates that FSBOs give up and list with an agent after about a month, which is why I set up a 10-week program. I've been getting my leads from FSBO magazines, so I guess it's possible I'm selecting a more dyed-in-the-wool brand of seller. I've been using the H/H letters and programs with a couple of other systems sprinkled in. Suggestions on what to do when my campaign runs out?

John Surge says:
Rob, it depends on the number but I think I'd put them on your sphere list and stay in touch. If they are not converting to agent listings, the market may be wrong. You have to ask yourself how much time and money it's costing you. I'd also look at shaking things up. Have a dynamic package couriered to their house. Maybe offer a free workshop where you give them all the tools to sell their home and teach them how to create comps. If you're committed to FSBOs, I think you have to keep drilling to find out what they will respond to. And definitely look at where you're getting the leads from. You might have to do in the neighborhood real world research gathering.

robrule says:
But gee, John....that takes actually WORK! What are you trying to do to me? {smile_smiley}

ellababb says:
Thank you for the session, John. Have to run.

John Surge says:
Just a couple of program notes. This chat will be archived on HobbsHerder.com by early next week so you can have a transcript. Also, make a note that this chat happens every Third Thursday at Ten am pacific (1PM eastern)--Aug 21.

John Surge says:
Yes, Rob. Some things take work :-) I do believe in this market that those who work smarter with information and eduction and proper best practices and harder with appropriate follow up and marketplace corrections will gain market share.

John Surge says:
We have about 10 minutes left. I hope you have enjoyed today's chat. Please make sure not to sign off if you have not had your question answered. I'm here to help as best I can.

robrule says:
As other agents have implemented marketing plans and worked closely with H/H, how long of a lag do you see between starting something like a basic mailing campaign and maybe implementing some small-scale print advertising and then stepping up to the next level with billboards, TV, and getting into the H/H media plans? I'm sure it's different for everyone, but I would think you would a general pattern...

John Surge says:
Just FYI, these are three Special Reports we've created to help our Gateway graduates with offers to appeal to consumers in today's market: How to Maximize Your Investment in a Buyer's Market (and Avoid the Mistakes that Cost Home Buyers Thousands of Dollars), How and Why to Buy in a Buyer's Market, How to Sell Your Home in a Buyer's Market (and Get the Best Price Faster Than Anyone Else Around).

John Surge says:
Rob, generally agents will add as they gain traction. As a best practice, I feel you should be in tune with the market in real time and then looking every year to add a major component to your campaign. The key is to invest commissions back into your business. This will then continue to increase your marketplace leverage. Does that help? You have to be concerned with becoming stale.

John Surge says:
Well, I want to thank everyone for coming. I hope you received some valuable information. What inspires us every day at Hobbs/Herder is the success of our graduates and clients. Please stay in touch. Make sure you're getting our Enews monthly and that you're visiting our website article archive to maintain your marketing muscle. Also, we'd love to see you at a seminar and always offer outstanding graduate pricing. I appreciate your time and applaud you for taking some time to work on your business today.

robrule says:
Absolutely. I've been implementing things and tweaking systems. I've made a couple of bad decisions with marketing because I was so eager to expand.

John Surge says:
Rob, stay in touch and let us help you with next steps and cranking things forward strategically. It'll save you money and time in the long run. But making mistakes is an important part of the learning process and sometimes those turn into great ideas. Keep it moving. You have the right approach.

John Surge says:
Until next time everyone...keep your marketing and business moving forward and stay in touch.


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