America's Largest Social Network for Default Real Estate Professionals
The J.D. Power and Associates 2011 Home Buyer/Seller Study is off the press, and some interesting marketing statistics were revealed. In addition to studying consumer sentiment towards real estate brands, J.D. Power dug deeper into the inner workings of real estate, finding some big changes that have taken place over the course of a year.
Among their findings, the study revealed something that would come as no surprise to readers - REALTORS are hustling more than ever before. In 20011, 60% of buyers and sellers surveyed reported that their agent reached out to the them for a referral, a 28% spike from a year earlier. It seems the "I'm never too busy for your referrals" stamp isn't sufficient anymore, as more agents are proactively seeking recommendations digitally and face to face.
These findings validate what we all know - that the real estate market is changing, and amplifies the need for agents to change with the market by proactively seeking new business.
In an earlier blog post on the importance of marketing your real estate b..., I argued against conventional wisdom that it is even more vital to spend marketing dollars in a down market in order to differentiate your realty from others. In fact, the marketers who spent the most advertising dollars in the great depression not only survived the depression but rose above it to thrive, among them Procter & Gamble, Chevrolet and Camel Cigarettes.
Likewise, an agent can thrive in today's real estate environment by amping up their marketing efforts and focusing less on real estate, and more on prospecting. Real estate prospector king Hoss Pratt articulates the importance of prospecting in today's market in this YouTube video. "If you don't prospect 3 hours a day, you'll be extinct in this market", he says.
Many subscribers of our 30-60-90 day late data grasp this principle by reaching out to distressed homeowners that are behind on their payments and through a series of of pre orchestrated mailings, phone calls and personal visits drive home their message of hope and solutions. This level of tenacity and hunting mentality has led to big, predictable results that have put them ahead in this fiercely competitive climate.
To learn how many struggling homeowners are in your area that need to get from underneath their homes, you can request a free area analysis byentering your criteria on a quick form.