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Today we are continuing the conversation on how you can use the recession to launch your brand in front of everyone else. While everyone else is cutting costs and attempting to just weather this thing through, you should be capitalizing on the marketing vacuum and making sure everyone knows your name.
Three Things You’ll Learn in This Episode
- How you can capitalize on lead generation without spending a fortune.
- How to develop a message that clients relate to.
- How to present the right solution to sellers and earn a bunch of new clients.
Resources
The Listing Advocate (Earn more listings!)
Transcript:
So how do you attract new business? You constantly don’t have to chase it. Hi, I’m Mike Cuevas a real estate marketing. This podcast is all about building a strong personal brand people have come to know, like trust, and most importantly, refer. But remember, it is not their job to remember what you do for a living. It’s your job to remind them. Let’s get started.
What is up ladies and gentlemen, welcome another episode of the real estate marketing dude, podcast. Welcome, folks. It is October 20.
Thursday, we’re seeing interest rates at 7.7%. You got the Prime Minister of Britain just resigned in three weeks What the hell is going on? Guess what, who the hell cares? What you do is you focus on your business right now. And none of the noise because if you turn on the news, it’s very depressing. So beyond that, what we’re going to be chatting about on this video, or on this video on this podcast today, I don’t have any guests. I’ve been enjoying doing these little teaching sessions. And I don’t practice these you guys, I just sort of get up and just everything here comes from the hip. But if you watch or listen to last week’s podcast, I talked about one thing to own during this market in this recession, and that is your database. I’m not going to talk about database during this podcast, because we’re gonna switch towards if you’re going to do lead generation, what kind of lead generation and that’s the topic of today. You have to own your database. First, folks, I’ve been saying it for years, it’s the only recession proof business model now seen it before there was a recession.
The truth is, you have to own your database, because it’ll support you in any single market you’re in. Alright. So if you did not listen to that podcast, I highly recommend not only do you subscribe to the show, you leave a great review, go listen to that podcast. And let me tell you why owning your database is so important not just in the recession in any market, because you don’t have a business without it. But I want to talk about where opportunity is going to be going forward into this market. And
I’m one of the first people that said, we’re going to, we’re going to have a big reset here, I saw this in oh seven, I saw this in a way I was in the mix, I saw the behind the scenes. And I’ve done this before. I’m so excited for this market. What I’m not, I’m sad for it, because a lot of people have the potential to get hurt. However, from a business perspective, I’m excited about it because I know how to make money in these markets. And what I’m going to share with you today is going to be where if you’re going to start focusing on lead generation, where you start focusing, right. And I’m telling you this because we see a lot of data, folks, we have a company called the owner, advocate and owner, advocate agent. And if you want to visit owner advocate agent, it is all about giving sellers, multiple options, sharpening your listing presents presentation during this time, and using options as leverage to create and attract more listings. But beyond that, we generate a lot of leads, motivated seller leads and we have been sort of behind the scenes for the last 12 months, we anticipated a lot of the things with the market was going to happen. We didn’t know what’s going to happen this fast. Now that we’re here, I can tell you exactly what’s happening in the background, because we know what kind of leads we’re creating. And you have to look at this from the macro perspective. What were sellers like at the beginning of this year, say prior to June or July? What were sellers like that they’re arrogant, oh, my house is worth this Oh, everyone’s because they’ve been spoiled for the last 12 years. The challenge we’re all having right now and is Hey, your house isn’t worth what it used to be sorry, the market change. And for many sellers, they can’t understand that. And it’s going to take some time it did last time. But the reality is starting to set in, because the truth of the matter is that people are worried about investing right now. And the ones who aren’t don’t have any money issues or any financial constraints. But for the majority of people out there, the housing has gotten more expensive with interest rates and all the above. So what you’re going to see Mark my words as a prediction, if you’re going to focus on anything you focus on listings now, you should always be focusing on listings, but what kind of listings is that motivated, motivated sellers. Okay, I still don’t understand why real estate investors never have a problem in any type of real estate market. Real Estate Investors were still buying properties for pennies on the dollar in the last market when they’re all selling over list price. And they’re gonna be buying a lot of properties into this market. And
sellers are more likely to entertain a lot of these alternative solutions during a market shift like this, which is why you need them.
What’s going to happen is that you’re going to have a lot of people unfortunately lose their jobs. You’re gonna have people are getting squeezed. You have people that are just looking to get married, but they can’t sell their house to move out of it because it’s not worth what it was. Folks, I want you to think about everybody that bought a property from the time I would say
A 21 at basically almost anytime. And I would say in 2021, almost almost all of them are going to be underwater very soon. And I know that’s not something a lot of people want to hear, but the cost of selling folks is 678 percent alone. And if someone bought a house at 5%, down, they’re already underwater on it is what I’m seeing in most markets as we’re seeing anywhere between a 10 and 20% correction, depending on where you’re at. Midwest markets, lower priced markets a lot safer, but where I’m at on the coast Gergan crush, which means there’s a lot of back demand for properties that may be underwater. And that’s the that’s the worrisome part. Now. In addition to this, though, there’s going to be a lot of motivated sellers, when when there’s a recession, people pull back on spending, they go into saving, one of the places that they go into saving is hey, my house is like my equity trap, I got 300,000 hours and equity, I’m gonna go ahead and tap into that for right now. Use this money for the time being to weather the storm. So how do you what I’m getting at is you want to focus your lead generation efforts on motivated sellers. This is one of the reasons why real estate investors are so great at creating a solution for him, which is just known as a cash offer. One you have to have a cash offer in this market, there’s going to be a lot of people looking for him. And it’s not a matter of whether or not they take you up on your cash offer, it’s that you actually have one for a solution because people who said who have a who are distressed or who raise their hands immediately result to what’s known as a fast solution, which is what a cash offer is, see the only thing real estate investors have been really, really good at. I mean, they’re good at a lot of things. But I mean, from a marketing, the number one thing they’re really really good at, is taking that cash offer and putting it in front of people that really need it or are facing the housing problem. And they do all that through buying the right data, having the right data, putting their offer in front of people that are distressed, and there’s 1,000,001 ways to do that. What they’re not doing is they’re not farming an area, they’re not farming Every Door Direct Mail, like most Realtors do, and do a blanket market approach, or a bus stop mentality or a billboard type of approach, throw a lot of shit at the wall and hope something sticks. That’s not what you do for lead generation. That’s what you do for branding. for lead generation, you need to be dialed into that message, you need to know exactly who the client is. And you need to provide a solution for them to exchange and get a lead. And one of the solutions that people are going to need more than ever are going to be exit strategies for their properties. Right. And the cash offer is always the one that generates the lead. My partner Dustin, at owner advocate agent.com
generates a lot of these leads lots of these leads, Justin’s got a portfolio of 100 homes in Phoenix. And he’s Jenner he’s bought all these properties because he’s mastered the cash offer process. But what’s really interesting is that he never what do you do with the rest of the 90% of people who don’t take their cash offer? That’s why you need a solution folks I’m getting at is creating your listing strategy, one focusing on sellers, 100%. But creating alternative solutions for sellers is where I believe you can win. It’s the main reason why we created owner advocate agent. And it’s because we know that sellers want options. The real estate market has never changed in like the last 3040 50 years. If you think about it the same way your parents bought or sold a house is the same way we’re doing it today. Whereas the car industry has vending car machines and Carvana Carmax, there’s been all these reiterations. But when it comes to the real estate industry, not so much. And you ask yourself, why is that?
Like, it’s still hey, here’s a 5% 6% listing, and here’s the way it’s gonna go, this is my listing presentation. And it’s going to be my way or the highway, you don’t have any other options you see during the shift is time and it gives you immediate opportunity to introduce a solution. It’s when there isn’t a shift that people aren’t looking for that solution. And there in fact, is the opportunity.
So what kind of different offerings should you put together to sort of combat and regardless of where you’re focusing your marketing efforts, it’s how you do business that makes you stand out and build a bigger brand that people actually know. And what we know is going to happen is that there’s going to be a lot of motivated sellers. And when every other agent is offering the exact same thing, there’s your opportunity, because when a shift like this happens, sellers are looking for alternative solutions, which means some of them might pass up on that agent that has been referred to them or that even they used in the past because they’re seeking a more important solution because things are getting tight. And I’m stressed. Hey, I don’t know if that other agent can give me a cash offer and this option. So I’m gonna walk you through a couple different options just to get you sort of creatively thinking, and I’m gonna invite you to come check out owner advocate agent.com If you want to take it further, but the first option you need is a cash offer. I highly recommend you to get investor friendly in this market. Find investors investors buy 10 to 12 properties a year, at least the good ones, and I’d much rather if I’m the buyer’s agent I’d much rather sell to one guy or gal
I know that buying multiple properties in this market because they don’t care about the GFCI outlets, they don’t even care if they’re in place, whereas a residential buyer is going to get pissed off that GFCI outlet isn’t in and they’re gonna bitch about a $20 inspection issue. That’s the truth of the matter is, so we have to look at how we’re working, because investors right now are Silva tating on the sidelines, not only would I be working with investors to get cash offers, but I’d be working with investors on the buy side because there’s going to be opportunities for them. And a lot of those will come right off the MLS, believe it or not, whereas that wasn’t the case a year ago, Tony focuses what happened last time.
Another thing I would do, I think every agent needs to adapt has a fix. In this program, what’s going to happen is that a lot of people want last year’s prices for their house. And even though their house is dilapidated, it has shag carpeting, formica countertops, brown, ugly appliances, with smoke stains on them, they’re not going to get top dollar for their house unless it looks in tip top shape. So one of the options you can implement into your listing marketing plan is, hey, I can help you flip your own house with a fix and list program. That is very sexy. Because how many agents are offering that right now, you know, these are available in every single market. And if you don’t know, go to owner advocate agent.com.
Like you could implement a fix, fix and lists program immediately and how people flip their own houses. Because what’s going to happen is that people are going to be like, hey, I want $500,000 For my house. Sorry, dude, your house isn’t worth $500,000 anymore. There’s been a market shift. I don’t care. I want $500,000 For my house. Alright, sir. Well, I have one solution for you. If you want to do this, we need to fix it up, I need to put about 15 to $20,000 worth of work in here. And then I could think I could get you closer to $500,000 Do you want to do that? I don’t have the money to do that we do and we have the contractors and you could pay them all at closing so that you could flip your house with no money out of pocket. That’s a solution folks. Okay, so what I’m getting at is crafting your listing into solutions a cash offer is nothing more for a solution for someone that has to get the hell out of fixing this program is nothing more than a solution for someone that wants to sell it for more money. Okay, your typical listing presentation can’t promise any of those. I’m not saying get rid of the listing I’m saying you keep it but add on multiple options.
Number four bridge What if you have to sell your house right now but it can’t sell what are you going to do? We’re gonna get the buy and sell at the same time but because the market slow you can’t time these transactions out anymore because you don’t know when that listing is going to sell. And even if it does sell you have to adhere to the buyers terms and they might be demanding 30 Day clothes Well, the buy side puts you in a pickle because you can’t find that property soon enough and that’s what a bridge solution does. A bridge solution is like a modern day solution for people that are buying and selling a house at the same time.
There’s going to be a lot of those people that are stepping up stepping down and all of the above even with the recession life’s going to happen folks. And because it’s not as easy to sell your house or it won’t be as easy to sell your house as before and there’s gonna be higher market times a bridge solution comes into options. Right off the bat I just labeled out four different options. I one of the options I’m really excited about what’s a sale leaseback sale lease backs are really really cool. It’s for someone that wants to cash out but not leave that options available in certain markets right now throughout the United States. How interesting would it be to just market all of these different options? How interesting would it be to create a lead generation funnel for each option and put that option in front of people that have that problem?
See, wouldn’t we want to do lead generation it’s very simple it’s not a blanket like approach you need to identify a specific problem somebody has and create the solution being your service the problem that every agent has those everyone has the same service none of them are solutions but they’re all self serving five or 6% It’s my listing or the highway go home hit the bricks pal see what a Stephen Baldwin
move there this is what I’m getting at guys is like you have to have solutions in these markets. Short Sale
if you don’t think foreclosures are coming here and saying oh the markets never gonna go down folks how long have you been selling real estate three years? How the fuck are you going to tell me we’re doing this for 20 years the market is going down this is what happens this is a shift all of these people remember so what you guys put on social media is timeless. Everyone was predicting the market wasn’t gonna go down and brick in
January February March April May you got to egg on your face dude the market went down. So like don’t just take some pundants talking head points do the research yourself and give people what they want to hear. When people see the market is not doing well come out and say it’s not doing well don’t sit there and say well it knows the booster Good boy. When you know it’s not yourself. That’s the reason why you’re not buying
instead offer solutions. Okay?
Options, folks options and that’s just on the sell side. Let’s switch over to the buy side. What kind of options can you talk about on the buy side? Well, on the buy side right now I’m 100% focused on real estate investors.
I’m 100% focused on a
In investment purchases, I’m changing my message from buy home versus buying investment. Because the reality is, is that people who do buy now, they should be patient, but go for the right deal. People don’t buy a house unless it’s the investment angle of it. So you know, and if you guys want to know more about changing the conversation, go look to a podcast I did a few weeks ago, where we go through a lot more of those different strategies. But you see, there’s a lot of opportunity here, you guys, because what nobody does is changed their tune when the market shifts. And that’s why so many people are going to be dropping out if not already from this business. But that alone is the opportunity, because the reality is, is that there’s going to be 1/3 Less transactions this year in the next 1218 months, which is already showing through in the stats, and those numbers are correct. But at the same time, there’s going to be more than the difference leaving the industry, which is a huge opportunity. When you combine that with offering and revamping and coming up with a solution based approach to your business, that can be very powerful for brand because it’s what you do in times like these and adapt to that build a brand for the long term while everyone else goes out of business. This is exactly what happened in 2007. The only reason I know this is because we adapted to short sales at that time, and short sales are going to come back. There’s going to be foreclosures, you need to be educated and all these different aspects of the market, because that’s what people are going to start asking about. Buyers are going to start asking you about, hey, I’m just going to hold off for foreclosure those coming back. You need to know how to intelligently answer that question, which is different for every state because there’s different foreclosure timelines.
There’s folks, there’s a lot of opportunity out here. And you might not see it yet, but you have to start preparing for it now. Because it’s going to be here faster than you know it. And I don’t think we’re I mean, we’re not markets, the markets resetting it’s correcting. This is actually pretty normal. But despite outside circumstances, it’s getting low. Interest rates went up way too fast. And they should have just stuff that’s out of our control. But what we can control is how we react to it. Okay, so what I’m telling you guys is react to it, I want you guys to look at your business today, look at it, where can you improve it? What levels of service? Can you add? What is your listing presentation look like? What kind of closing gifts can you get? Can you enhance those? How are you going to stay in front of your database during these times? You know, what am I what is my listing presentation going to look like? What am I going to do differently because if you’re still going to be doing the same thing, that’s when you stop growing, you have to take these times, see where the markets going and do things differently. There’s two things I’m advising and I’m going to be screaming out for the next 20 weeks, at least maybe six to 18 months and one is going to be on your database. Like I said before, listen to that podcast from last week. But the second one is going to be adapt
your services to where the market is going. Right. The riches are in the niches in a recession. In an in a changing market like this and whether that means you become a rental or leasing agent I’ve seen many people do that in the past. Or you become a REO agent, a short sale agent, you become a divorce agent or you become a specialist of a neighborhood. It’s time to niche down from a lead generation perspective and niche down on your lead generation offer a specific solution to a specific problem and own that don’t be everything and everything to all people do one thing really good from lead generation before you move on to another lead generation activity. But always stay in front of your database, because they will always feed you during a recession. If you’d like to semesters folks where I want you to go ahead and visit owner advocate agent.com. Owner advocate agent.com. You’ve heard me mentioned a couple times on the show. And that’s just because we just launched on their advocate agent we’re really excited about it. I do believe that we’re gonna be able to help so many different real estate agents throughout the country, adapt a new model and not only
weather, the recession but dominate within it. And you could do that all at owner advocate agent.com Have a great week and we’ll see you guys next Thank you for watching another episode of the real estate marketing dude podcast. If you need help with video or finding out what your brand is, visit our website at WWW dot real estate marketing dude.com We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then scheduled time to speak with a dude and get you rolling into your local marketplace. Thanks for watching another episode of the podcast. We’ll see you next time.
Transcribed by https://otter.ai