If every one of the 15,000 real estate agents in New Zealand got an even slice of market share (and we all know they don’t), there would only be 5 or 6 listings available, each year, for every agent.*
That’s barely enough commissions to earn the median New Zealand salary, for someone who works only 40 hours a week!
Recently I was chatting about the low sales volumes to the owner of several Auckland real estate offices. He commented that the 90/10 rule is now in play—10% of his agents now have 90% of the listings. The one thing his 10% all have in common is that they consistently invest in personal promotional marketing to build and maintain a large network of homeowners who know, like and trust them, then call them when it’s time to sell.
Here’s how you too can get a bigger slice of the pie.
How to Get a Bigger Slice of the Real Estate Pie
To be in the top 10% of agents you need a real estate marketing plan designed to build a large community of people who know, like and trust you, then call you when it’s time to sell.
It’s about building a pipeline, or a funnel, full of homeowners who are at different stages in the selling process.
People at the top of your funnel are leads – homeowners in your local area, not at all interested in selling, but with whom you want to build a relationship.
As people move further down your funnel they become prospects – homeowners who have asked for an appraisal and/or expressed an interest in selling.
When they list, they become clients, at the bottom of your funnel.
Clients are gold. Look after them and they’ll fill your funnel with an endless supply of repeat sales and referrals.
Create Opportunities to Talk to People (Attract More Listing Leads)
Here is a list of successfully proven methods to attract hundreds of homeowners into your sales funnel:
- Print marketing e.g. newsletters, DLE flyers, appraisal letter distributed to mailboxes in a farm area
- Street signage
- Google advertising
- Open home visitors
- Facebook and other social media advertising
A homeowner becomes a lead when you have their name and contact details. Your marketing system needs to continue to nurture leads in a friendly and professional way, always offering an appraisal or free advice, encouraging them to move further into your funnel.
Find Out Who is Selling (Convert Your Prospects)
A lead becomes a prospect when they ask for an appraisal, advice on selling or a listing presentation. This is where the marketing (advertising one to many) segways into selling (one to one). When a prospect signs a listing agreement they are converted into a client (vendor).
Wow Your Vendors
Deliver exceptional, added value, professional service to people at the bottom of your sales funnel. Maintain your reputation as a highly professional agent who always works with the best interests of the vendor in mind. Your clients will send you easy to convert repeat sales and referrals and you’ll quickly become a top-performer, rising into that top-selling 10% of real estate professionals.
Need help to build your funnel and get a bigger slice of the pie?
Contact us today to explore having your real estate marketing done for you. We can help with print and email newsletters, DLE cards, flyers, design, social media and more but can only partner with one agent per area. Call us to see if your area is available.
*Based on 81,616 residential sales in 2020, source: REINZ; 15,503 active, individual licenses as at 31 August 2021, source: REA.
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