Add services different from your competition’s

Services that set a real estate company apart from the competition are important in today’s market, according to real estate expert and columnist Bernice Ross.

“Evaluate what every other agent does and then be able to explain what you and your company do differently,” said Ross, CEO of RealEstateCoach.com.

She said many agents are still using the “Five P” approach:

• Put a sign in the yard
• Put the listing in the MLS
• Put the listing in the newspaper
• Put it on the web
• Pray that it sells.

“That’s what agents have been doing for the last 10 years,” she said. “You need to add services to make you stand out from the other agents.”

To step up a marketing plan, Ross suggests:

• Subscribe to a syndication service – Find a company like Point2 that will send your listings to major Internet portals like REALTOR.com, Yahoo, Google, Trulia and Zillow. Consumers are searching these sites and they will help sell your listings and get your name out. Some syndication companies will track how many visitors you’ve had so you’re able to show consumers how effective the marketing is.
• Help consumers find you – You need to communicate with consumers the way they want to communicate. You can’t expect all consumers will use the same system. You will want a text-messaging system, an 800-call capture plan and a website. A survey on Internet Lead Conversion Times conducted by the Massachusetts Institute of Technology (MIT) said you have a 79 percent chance of capturing a lead if you follow up within five minutes. Your chances drop to 34 percent if you wait 30 minutes.
• Use video online – Video will dominate real estate in 2011. Realtors® have about eight months to step in and add video for all of their listings. Video can help portray what it’s like to live in the community surrounding the home by marketing the lifestyle. Consider using consumer video testimonies on your website. Video content will also help increase a Realtors®’ Google ranking.
• Consider social media – While Realtors® should be using Facebook, LinkedIn and Twitter to market themselves, it should be used to create an online community.  You shouldn’t post your listings on Facebook, LinkedIn or Twitter because that’s not in the spirit of social media.
• Manage online reputation – Agent evaluation sites are turning the industry upside down. These sites are going to exist whether Realtors® like it or not. Start asking clients to complete a post-closing survey and if there’s a problem, fix it.  Set up an Internet search to track online references so you can address issues when they occur. Companies like StepRep.com and Reputation.com can help you manage your online reputation.

“Realtors® need to be constantly innovating and evolving. This will help keep you ahead of the competition,” Ross added.