Nobu Hata
By Nobu Hata
I loathe business planning. Recognizing one’s failings from the previous year, and moving forward, learning from mistakes is a hard thing to do. And since the economy hit the skids, it’s become increasingly difficult to “plan” for anything as of late.
But the one thing I’ve made a commitment to do this year, is to ask advice from those agents who are still thriving after 20-plus years in the industry, every chance I get. I’m going to put my money where my “industry hasn’t changed, but the tools have” mantra is. These folks have seen previous recessions, have experienced double-digit interest rates, and walked uphill to listing presentations – both ways! – to boot.
One of the best pieces of advice I’ve received so far this year is to door-knock – “Go out and find the inventory that’s lacking, for your clients…”. The very thought of getting a door slammed in my face, in real life, scares the bejeezus out of me; but I’ve got clients interested in a particular neighborhood where no blogging/social media/twitter campaign will work, so what the heck. As luck would have it, I happened upon the neighborhood while the homeowners were digging out of some monster snows we had, so I took the dog for a walk and chatted up the neighbors as I walked by. Six prospective sellers, and a hit for my client later, I was sold. And it only took an hour to do it!
Us REALTOR2.0’s like to strut our stuff with the Facebooks, blogs and Tweets, but every now and then it pays to get some fresh perspective from the professionals who are still alive and kicking in these tough times. After all, some of those “tools” haven’t changed a bit!
So go old-school! Which old tool will you use in a new way this year?
Nobu Hata is a sales associate for Edina Realty in Minneapolis, and a founding member of the Minneapolis YPN group, the YoPros. Visit his Web site at www.nobuhata.com.
Nobu Hata
By Nobu Hata
Let’s face it, when it comes to sharing our expertise on forums such as the YPN Lounge, Twitter, even Facebook, we sure spend a lot of time preaching to the choir. Social Media how-to’s, blogging tips, Twitter in your marketing plan…
The fact is, the majority of us have already figured out how to implement new media tools into our real estate model. We recognize that in this overly-transparent, borderline-creepy, uber-connected world we live in, being JUST THAT is paramount in our business. Because of this, we’re arguably more in tune with a fickle consumer demographic and relate better to the first-time buyer who’s now making up the majority of transactions nationwide. We know that doing so requires us to take aim on a constantly moving, consistently changing target.
The time has come to take the insight we have gleaned and the practices we have developed and open it up to the “old guard,” for lack of a better term. You know who I’m talking about. All of us have a group of agents in their office whose eyes glaze over at the mere mention of Facebook. Who think blogging is a monumental time-suck. Who remember when “MLS came in the form of a binder full of paper!” Who all think we’ve got it pretty easy. We know this isn’t the case.
Truth of the matter is, these barriers are totally self-induced because of technological intimidation and/or perception that these “time-sucks” have no value. Sitting in multiple classes at NAR09 and watching these folks stream out by the boatload really made this hit home for me. It’s less about age, and more about mindset… and the beauty of mindset is that it can be changed.
Whether it’s at the local office, brokerage, association or national-level, every little bit of instruction helps! Volunteer your time developing and teaching CE classes. Recruit converts to local REBarCamps. Share what you’ve learned at RealtorCon, InmanConnect, et al at Sales Meetings. Turn your Twitter feed into an all access journal and show them how to use it. Reaffirm that what we’re doing is no different than what they’ve been doing for generations, it’s just that the mechanisms have changed. And most importantly, be open to their opinions and feedback! Yes us YPN-Gen REALTORS have a lot to share, but we just might learn something along the way.
We sometimes forget that it’s these very agents who have persevered through multiple economic downturns, have seen the industry change at a lightning pace recently, and who are actively shaping our industry. It’s our obligation to give them insight into our practices, to learn something from each other, and together shape the industry we will be inheriting.
Nobu Hata is a sales associate for Edina Realty in Minneapolis, and a founding member of the Minneapolis YPN group, the YoPros. Visit his Web site at www.nobuhata.com.
Dawn Miller
By Dawn Miller
If you’re a new REALTOR® or if you’ve been in business awhile and re-evaluate your budget every year, I am here to reassure you there are only five tools you need to start or maintain your real estate business.
I’ve complied a short list of the must-have’s for those REALTORS® newer to the business who are questioning advertisements’ promising leads, great return on investment, and more. Hopefully I will re-energize other REALTORS® who have been in the business awhile to “get back to basics” and understand what we really need to make the best use out of the tools we have or how to do as much as possible with just a few good programs.
1. Contact Database
Whether you use MS Outlook, Excel (gasp), Top Producer, or even the contact manager through your MLS system, you really need some place besides your notebook or bar napkin to store contacts. I recommend a database that will do many functions, like Top Producer. It is a small investment that provides so many different tools, from e-mail programs, to drip e-mail campaigns, and more.
2. Blog
Notice I did not say website. Many REALTORS® are using their WordPress blogs as their main Web presence and even having IDX feeds so consumers can search homes. Get a free WordPress account today, or pay a little extra each month for additional features. Consumers are asking for hyper-local content and information. Blogging allows you to be the expert in your neighborhood.
3. Virtual Tour Program
There are many programs that are free, less than $10 a month, or charge per-tour. There is one that stands out among the rest–Visualtour.com. For $30/month, you can create unlimited virtual tours, advertise your listings on dozens of websites, and use the program to self-promote. Take still pictures and turn them into panoramic shots and video through their software. If you use this program right, it serves so many functions you might just have to cancel other programs or advertising you are paying for now. Check out a virtual tour I did while on an real estate trip in Dominican Republic: http://www.visualtour.com/show.asp?t=2038675&prt=10003
4. Realtor.com Advertising
For $11 a month, I tell prospective sellers their homes will show up every 8-9 pages of homes as a featured listing on Realtor.com versus one time in the 350+ pages of homes for sale. That’s powerful! New REALTORS® sign up for showcase advertising while they have few listings to save money–as the monthly charge is based on the number of listings you carry in a 12-month period. Then call sellers to tell them they will have a “premium advertisement” on the number one real estate website.
5. Niche
There are “riches in niches.” How do you set yourself apart from the other REALTORS®? Take the time in 2010 to educate yourself through a REALTOR® designation. Analyze your market, your past business, and what makes you tick to discover how to set yourself apart. If you’re reading this, you already have a niche. Remember, NAR statistics show the average age of a first-time homebuyer is 30 years old. As a YPN member, you may be in the position to relate to and communicate with that first-time buyer.
Dawn Miller is a REALTOR® from Virginia Beach, Va., and chair of her local YPN chapter. Visit her Web site: www.DawnMillerHomes.com.
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