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Real Estate Marketing

If 3 out of 5 homeowners say they’ll never move, how can you convert them?

(EDITORIAL) An increasing number of people love homeownership so much they say they’ll never move, tightening inventory levels – how can you convert them?

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realtors standing out convert

We’ve talked a lot lately about the biggest challenges to home sales today – rising prices, a lack of availability, and affordability. One of the easiest ways for our nation to alleviate the pressure is for more homeowners to decide now is a good time to sell.

But a new Bankrate.com survey unveiled that 62 percent of homeowners say they don’t intend on moving. Ever.

And another 17 percent say they don’t intend on moving for at least another five years.

The survey also indicates that homeowners are almost twice as likely to remodel than move homes. Fully 35 percent said they’d rather remodel in the next five years than move, while only 19 percent said they’ll move during that time frame.

Yes, investors could let go of some of their inventory, and builders could increase theirs, but this indicates an post-recession societal change as our economy strengthens and Americans sit on their largest investment as it appreciates.

So what can the real estate industry do to convert some homeowners into selling, rather than sitting?

It’s tricky, because one in five homeowners own their homes outright. But of the four out of five that don’t, Realtors are already farming for business through timeless marketing efforts such as direct mailers, ads, flyers, and of course, through social media marketing.

To little avail.

Why? Because the market primarily consists of “hire me” flyers with an agent’s face on it. That will never convert someone that says they’ll never move.

But data will.

We spoke to an agent in Dallas who is converting better than nearly anyone in her market, and she does so by emailing stats specifically to current homeowners that focus on the reasons to sell. She includes national statistics about how much cash Americans are sitting on via their homes, and offers hyperlocal sales data.

But how is that different from what everyone else is doing?

Three things that differ – (1) she translates that data instead of sending charts and hoping they’ll come to their own conclusion, and (2) she sends info on the specific property that person lives in, noting the value they’ve gained since moving in, and offers comparable properties for sale that they could consider if hoping to downsize or upgrade, and (3) she tells stories of clients that have put their gains into different investment vehicles and will retire comfortably.

Data is powerful, and successful practitioners know how to use it (especially given how readily available it is via tools at their disposal like Realtors Property Resource), but so few make it personal and translate it for consumers, putting it into layman’s term.

Convert by taking that extra step in translating and presenting data meaningfully to consumers – offering a chart isn’t enough today, especially if someone has already dug in their heels and plans on never moving. And if you find yourself saying little more than “now is a good time to buy/sell,” fire yourself.

The Real Daily is honest, up to the minute real estate industry news crafted for industry practitioners - we cut through the pay-to-play news fluff to bring you what's happening behind closed doors, what's meaningful to your practice, and what to expect in the future. Consider us your competitive advantage.

Real Estate Marketing

Be your own hero, make your own dang animated gif

(MARKETING NEWS) Oh, the ubiquitousness of gifs! People love them, and let’s face it: gifs sell. Why not make your own?

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A gif for any occasion

Oh, the ubiquitousness of gifs! Who knew that in just a handful of seconds you could have a moving image ready to convey the perfect situational response or reaction. There’s something so fun and memorable about using gifs to express yourself. Next time you’re ready to sling a celebratory gif to your sister after hearing about her promotion, or a pizza gif to your family and friends to indicate your Friday night dinner plans, why not consider making your own gif?

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Don’t let pop culture speak for you

With gifs.com, you can take your self-made content and tailor it to be the gif that’s perfect for you! The possibilities are almost endless: You can use a gif to share the latest developments in a product you’re working on, or for more personal ends. Maybe you’d like to share your latest cooking experiment, or a few steps of a walk you took on a particularly beautiful winter day.

Grab a link to content from your YouTube, Facebook, Instagram, Twitter – or simply upload a video from your own computer. Adjust the timing of your gif, add any effect you want (including this amazing Deal With It effect) and then create your gif.

But pop culture can speak for us too…

You can also use Gifs.com to create custom gifs from already well-known content. Sometimes, our favorite TV characters, star athletes, YouTubers or musicians can express something for us better than we ever could ourselves, and all the gif digging in the world won’t find us the exact image we’re looking for. There’s nothing wrong getting an assist from a reliable character!

You can upload content from your computer if you have something saved, but you can also grab content from almost any social site on the internet.

Those little extras never hurt

Gifs.com allows you to customize your gif’s link. This means that if you create something destined for meme-worthiness, you can link back to your own site and drive traffic on your blog or online store.

You’ll also have the ability to add stickers, text, and effects that will take your gif creation to the next level.

Considering this service is free, it almost seems wrong not to share your Gifs creations far and wide!

#GifMaster

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Real Estate Marketing

Refocusing your marketing strategy from millennials to Gen Z

(MARKETING NEWS) Gen Z will have more purchasing power, and be more prone to spending than the generations before them, and will be at a homebuying age before you know it – time to adapt.

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teen gen z

Time to refocus

Research on Gen Z is increasing as they graduate and enter the workforce. The biggest misconception is that they are just another kind of millennial. In fact, they are similar to the generation raised during the Great Depression.

And while they might share dependence on technology and short attention spans with the millennial crowd, some trends in Gen Z are remarkably different. This just might include their views on homeownership and the American Dream – while millennials seemed to have overwhelmingly rejected these things, Gen Z might be surprisingly traditional. We will be keeping an eye on them as they begin to enter adulthood. For now, your marketing strategies will need to be adjusted accordingly.

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Trying to get Gen Z on the phone?

Unlike millennials, Gen Z does not prefer all the digital interactions available. They are more likely to use click-to-call features, especially after texting or chatting first.

Once on the phone, though, the Gen Z cohort is more likely to hang up quickly, curse at the person on the line, or be frustrated if there is no immediate answer.

In a world where there are several avenues of communication with a company, Gen Z seems to want a more personal touch.

But they are more impatient about waiting for it.

Why does it matter?

This impatience and short attention span are tied to Generation Z being the most plugged in group, like, ever. “Gen Z consumers can be speaking to a customer agent, research everything that agent is saying and simultaneously tweet about how great or awful their experience is,” Sabrina Gravlee, Analytics Manager at the Marchex Institute.

Millennials, who prefer to make even large purchases digitally without any face-to-face or phone contact, got a lot of people thinking that was a trend that would change everything, and permanently. No car lots, no cashiers, no person-to-person selling. And that still might happen. But the Gen Z research suggests that a balance might be struck finally.

Perhaps the millennials were the opposite end of the pendulum from their baby boomer parents, and now we are back in the middle ground.

Marketing strategies on fleek

In any case, businesses would be wise to consider a hybrid approach as Generation Z becomes a bigger part of their consumer bases.

Some sources predict that they will have more purchasing power, and be more prone to spending than the generations before them.

“The faster businesses can understand the patterns and preferences of Generation Z, the faster they can gain footing with this next wave of consumer growth and ensure their own success.” say Gravlee.

Companies who adapt quickly to their youngest potential customers will be ahead of the game as we see Gen Z grow into their consumer status.

See the full report here.

#GenZ

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Real Estate Marketing

How to use Buffer’s social media calendar to boost your marketing efforts

(MARKETING) Social media can be a handful to manage, but Buffer offers a calendar that could give you the competitive advantage.

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Growing an audience on social media often means implementing a consistent sharing schedule to give valuable, timely information. A social media strategy will help businesses reach their audience in a meaningful way and keep them engaged throughout the entire process.

Buffer, the online social media management tool, understands the need for an organized social media strategy, and has now added a social calendar to their list of great features. With Buffer calendar, users can keep track of when, where, and what to post over long periods of time.

Super easy to use

Buffer’s social media calendar operates much the same way as a Google or Outlook calendar, making it familiar and easy-to-use. Users can add social media updates to the calendar months in advance, reschedule when necessary, and click each calendar item to get in-depth details and see if the task has been fulfilled.

You can also schedule customized posting to automatically fill pre-set time slots, and click and drag items around the calendar for instant rescheduling.

Complimenting your queue

Buffer already offers the Buffer queue, where users can create a list of social media updates to automatically post at certain times. Buffer calendar is a great compliment to the queue because it allows users to schedule much further out, and see the update schedule one week at a time. The calendar format is an important visual tool that will help many users better monitor and implement their content strategy.

For example, if a particular day had multiple updates scheduled about the same topic, Buffer calendar would make this easy to identify and rectify.

While the Buffer queue may move updates around on the schedule when users add or move posts to the top of their queue, the calendar ensures that these updates are pinned at the exact time you choose. Even better, the queue and calendar will automatically sync so that anything added to the queue will show up on your calendar—and vise-versa.

The new calendar feature is a great addition to Buffer’s social media management toolkit. The Buffer calendar allows for a new level of precision and accuracy, making it easier than ever to create custom scheduled posts, schedule projects for certain dates, and manage social media updates and pins.

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