By Mike ParkerPrint Article Print Article
July 27, 2009-So many times, agents in smaller markets think they shouldn’t bother to try to succeed online. After all, everyone knows them in their town, so why worry about Internet buyers? Folks, people who think like that have it exactly backwards: some of the most successful Internet Realtors are people in what big city folks would think are highly unlikely places. The Internet is huge, but it favors small-town agents and brokers.
For example, would you think that the Internet could produce the kind of leads that would make it possible for you to sell 50+ houses annually in three towns about 20 miles west of Charleston, West Virginia? Have you ever even heard of Teays Valley, Hurricane, or Scott Depot West Virginia? Scott Grant and Connie Tedrow are RE/MAX agents there, and they are not only selling more than 50 homes this year, but they just added another buyer’s agent and are looking to expand their staff further this year in response to the success they have enjoyed online.
This kind of success in mainline American towns is not unusual: in fact, it’s often these smaller markets that have the biggest increase in business once agents start realizing that the Internet isn’t just for big city folks. You see, when you have a strong Internet presence people find your listings no matter where they are looking from: it literally expands your base of prospects multiple times. Just listen to what Scott Grant has to say about how he and Connie Tedrow (a 25-year veteran of the business) successfully brought their Internet selling strategy to success and maybe you’ll understand why-no matter where you are-the Internet is the biggest possible factor in making your business succeed today.
Just the facts, ma’am
“Our GCI is up over 30% this year over last year, and we credit all of that to our online marketing,” Scott told me. “We’ve greatly reduced our print ads (”Seller Appeasement Ads” Scott calls them) and for a total investment of $3,400 have turned our website into a lead-generation machine that gives us 10-12 real leads every month (a real lead is one with a real prospect’s name and contact information from someone who wants more information about something on your website).
The resulting increase in our business has enabled us to do what we always wanted to do: bring on a dedicated buyer’s agent, who we feel will complement our business greatly. This online success has also increased our success at listing presentations. Just by showing our prospects our online business appointments and our reports available from our online marketing services subscription we find ourselves connecting better with listing prospects and closing more of them. Our clients know that the Internet is where 80-plus percent of home sales start today, and they value our strong presence on the Internet as a value for them.”
Putting this in perspective
“Last year was our first year operating with our online marketing services partner and we sold 49 houses,” Scott reported. “This year, through the first six months of the year, we’ve sold 31 and are on track to hit 60 or more. I know that many agents in our marketplace and throughout our state are having difficulties, but we seem to have strengthened our ability to always have people to call on and to show houses to because of our online marketing services company. They have increased our unique visitors to our site substantially, and they have taught us how to convert more of them to leads.”
Scott is knowledgeable about Internet marketing: for two years he did his own search placement and his own marketing, and he did pretty well at it, too.
“Trouble was,” he says, “it took a lot of time on my part to keep it up and to try to keep up with changes on the Internet. I was thrilled to turn that over to my online marketing services company so that I can completely focus on selling real estate. I get paid far more for selling a home than I got paid for doing my own online marketing, I can tell you that.”
Now, 65- to 75% of the team’s leads are self-generated from their website. A side benefit is that they are selling about a home a month to people relocating to the Charleston area who find them online. “That’s another 12 sales we probably would never have without our strong Internet presence,” Scott confirms.
Another real advantage to agents in smaller markets who choose to market on the Internet.
Scott and Connie’s subscription started to pay dividends for them within a couple of months, partially because they were one of the few local agents with professional assistance. That assistance moved them ahead of their competition and it did so in less time than a big city agent might have to wait; there’s less numbers of competitors and more chance for the technical power of what they do to stand out from the crowd. Instead of low-keying that professional assistance, Scott and Connie know that it helps the folks who list homes with them sell those homes faster.
It’s something they have that their competitors don’t have and today any advantage is highly valued. “When anyone is looking to buy a home in our market area, finding us online no matter which town they search in makes those buyers think of us as the dominant local agency,” Scott said. “Seeing us online in all our market cities and towns reinforces that they are making the right decision to work with us as their agents.”
The bigger advantage for Scott and Connie
A total of 1,466 Internet shoppers have found them online, under 500+ different search phrases. Their online marketing subscription gives them steady traffic, steady leads to cultivate, and a presence to inspire confidence from listing parties. In this time when so many are struggling and worrying about tomorrow, Scott and Connie have someone responsible for their Internet prospecting; someone they pay only $3,400 a year to help them self-generate the leads that result in dozens of sales.
“Because we have this service, we don’t have to worry about keeping up with technology, “Scott reflected, “we can concentrate on keeping up with what is going on in our communities, what is happening with our prospects and client base, and we can concentrate on doing what we do best: selling and listing homes for sale in West Virginia’s beautiful Kanawha Valley. We count on our online marketing services company to keep on top of all that for us; they call us with suggestions to improve our performance and they know who we are when we call.
“When my account representative, Marilyn Walker, told me this would happen, I almost laughed in disbelief; now, we have a personal customer service representative and a personal lead generation specialist assigned to our account and we don’t have to bring them up to speed every time we talk to them. Not only that, but there’s never any additional charges to our account no matter how many times we seek or use their advice or how many training seminars we attend, just as Marilyn first told us.
“That gives us the confidence to implement their suggestions and to follow their advice. When we factor in what we make in commissions for the sales this subscription produces, we only wish we had discovered this service sooner. We are totally committed to the Internet, now, and it is the focus of our expansion strategy.”
Consider the current facts about the Internet
Over 80% of all residential home sales begin online. This is true in Dallas, Chicago, Los Angeles and New York, and it’s true wherever you are, too. While in major cities savvy agents know they need online marketing, in smaller markets many agents feel that they don’t. We’ve highlighted people in small towns throughout the U.S and their online success for years, now.
Don’t think that because you’re in a small town that you don’t need to succeed online. Think of it this way: Perhaps you will make a living by remaining uninvolved in online marketing, but those who use it to their advantage make a far better living and build a far stronger business than those who don’t (Recent data quoted income figures about three times higher for Internet Realtors than for traditional Realtors). It’s not a question of when the Internet will become a factor in the business of real estate in your town; the Internet already is a factor, only you might be missing out on sharing in that business.
Scott Grant and Connie Tedrow harnessed the power for their business and the results have been great for them. Why wouldn’t they be great for you, too
About the Author: Mike Parker (mparker@theblackwatercg.com) specializes in online marketing services for Realtors®. To request a free review of your online marketing and website to determine if it is set up properly to be effective click here and it will be evaluated free.
Read more: http://rismedia.com/2009-07-25/you-can-be-in-a-small-market-and-succeed-big-time-online/#ixzz0MJKcWcEK
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http://rismedia.com/2009-07-25/you-can-be-in-a-small-market-and-succeed-big-time-online/
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