Whenever I visit my Dad down in San Luis Obispo CA, we go out on the coast to Morro Bay. From there, we rent a charter boat and go deep sea fishing. It's a full day of male bonding at its best. We leave before dawn and return to port in the late afternoon, hopefully with full catch of ling cod, snapper, and sea bass. The fishing rigs we use have multiple lures/hooks - sometimes 3 to 5 per line. When the fish are really biting, it's not uncommon for someone to pull up their line with a fish on every hook. Everyone on-board shouts, "Bonanza!"
One of the valuable lessons I've learned from our Managing Broker, Frank Wilson, is his constant mantra, "The more hooks you put into the water, the greater your chances of catching the fish."
This can be applied to many forms of marketing within the real estate industry, but I find it most helpful when inputting my listings onto numerous Internet domains.
The latest statistics by NAR state that well over 80% of Buyers use the Internet to search for homes. That being the case, it's only logical that a good Listing Agent would do everything to ensure the maximum amount of Internet exposure possible.
With housing markets slowing across the country, and the inventories of available homes increasing, agents are looking for more aggressive and effective ways to market their Seller's homes.
For our market here on the Kitsap Peninsula, I try to place homes on at least 5 to 6 domains. In addition to the NWMLS (Northwest Multiple Listing Service), I use the www.Windermere.com (one of the largest, most advanced real estate search websites); my own business domain, www.KitsapLife.com (my website uses a custom search interface provided by Graphical Data, the same company that powers Windermere's home search); both www.ActiveRain.com and its consumer platform, www.Localism.com; and www.craigslist.com. That's just for starters. I have
some additional platforms that I utilize, depending on the property type. I hope to soon input my listings onto my other blogsite, www.SoundBiteBlog.com as well, as it is beginning to draw some local consumer traffic.
I just recently began using vFlyer for quickly creating high-quality virtual flyers that I can import to these sites. If you aren't familiar with their products/services, you owe it to yourself to check them out!
- I'm curious as to what other domains the ActiveRain Collective has been using to successfully post their listings?
- What other marketing tools do you employ in slowing markets, where inventories have increased, and more Sellers are competing for the same Buyers?
In today's competitive market, you can't afford to put all your eggs into one basket, or, in this instance, all of your bait on just one hook!
I'll have to check out this Windermere site. I hadn't heard of that one. I just started utilizing a point2 site and it feeds into a host of different sites. Good post!
Bob Mitchell
ValueList Real Estate Services, inc.
Rich ~ I'm a new fan of vFlyer too. Linda Davis is a big advocate of vFlyer here on Active Rain. She and many others finally got my attention and I tried using one. It is so easy to do and the results are very impressive. I'm using the same sites as you, but I'm going to try putting it on my other blog and my website too.
I do wish they would develop a way to do a two page vFlyer to be used as hard copy. (hint hint)
Your photos are wonderful except for the hooks. I really don't like hooks, something must have happened to me in a previous life...
kk
Thanks for the reminder...
while I think that ActiveRain is a great place to start out and get up to speed on blogging and SEO... in fact a great place to learn it all... I think that eventually we all need to be farming our posts out to our own other websites.
I think you do a great job... and I think other notables on here should be searched and followed in their methods!
Rich,
Similar as an inspector. You try to be visible, in a good way of course, and the higher the visibility and the more places your name (your hook) is out there the more comes back inside the boat. Of course, sometimes you catch barracudas.
Rich..... I agree with both Mark and David. But a question... is there such a time that putting too many hooks out there can be time consuming and possibly hurt the amount of fish that you catch? Basically called, spreading yourself too thin. But in general, in regards to your point, you need to spread yourself out. Not keeping all your eggs in one basket. Nice job.
On another note. I enjoy fishing.... don't get out much. But planning a little 4 hour charter and taking my brother-in-law out for his b-day.
Rich - I coudn't agree more. I was going to say especially in this market, but I think you need lots of hooks in any market. If we work for our client, we need to make sure they are as exposed as can be - no matter what the market condition. I also can't wait to call Windermere and see if they come this far East. Sherry
As consumers get more and more advanced at how they take in information from the internet, casting as wide of a net as possible is so important. My step dad is a commercial fisherman and I guarantee that big huge wide nets catch the most fish!!! :)
Thanks for the call on Saturday, I really appreciate it!!!
Bob
Great analogy, I grew up on the coast too, and we always said "Big bait big fish, small bait small fish" I think I like yours better.
While I try to keep several hooks in the water.... I am better with some hooks than others and focus on those.
Rich...
I like what Blog Boy (Broker Bryant) said about checking the bait.
As I fish a lot I know it's important that the bait be nice and fresh :)
P.S. Bit of a slow day around the rain eh? :)
TLW...ROAR!
TLW - yes, I made the same comment earlier this morning. A rather slow news day in the Rain...
You can't use the same bait for every fish either!
I also enjoy the male bonding with my dad and brothers and it is a good time on our annual trips. Hooks are needed and the more you through out the better the potential catch will be.
Bobster - thanks for the Goldie. You and your wife are in our thoughts, man. July 1st is just around the corner. You feelin' crabby?
KK - I really like vFlyer as well. Very easy and quick. I am waiting for them to provide instructions on how to import it into Outlook so I can control the emailing function. I agree about the 2-sided copy feature. Definitely a must have!
You must've been a fish in a former life? Or maybe a mermaid???
Bob - Windermere currently only serves 10 western states, but is moving your way eventually. vFlyers sends your flyers to the same sites as Point2.
Rich,
Thanks for your fishing story and metaphor. Even though we're from beautiful Lake Tahoe, we've always really liked your part of the country. And the sea food is always terrific.
We just posted a fish story of our own on AR, but it's message wasn't about casting a wider net; it's about our need to take a day off from time to time. Check it out.
You might also enjoy our Lake Tahoe Real Estate Blog: www.laketahoerealestateblog.com. Out left sidebar has complete market stats that may be unique to our industry in terms of it's depth and scope. Check it out, and hopefully there's an idea there that you can use to add more hooks into your waters.
Cheers,
Gary
Rich, I couldn't get thru all the comments. But what happens when you have all these 'hooks' out and you drop one? It would be really time consuming to cast 100 lines and with or with out bites that is a lot of work. If you are busy (I wish) with 50 bites what happens to number 51? Doesn't he go somewhere else out of frustration?
You did it again I want fish and a fork!
Dena - I don't think I'd put THAT many hooks out for one listing. Way too difficult to manage!
Hey, food always works with realtors, right???
Rich,
Now if ever is the time to have multiple hooks in the water. You might consider commenting in real estate matters on other websites that allow you to post your own primary website with the comment. That would then label you as an expert and direct traffic to your site.
Esko - I don't know if that would necessarily label you as an expert. It seems like we have a lot of self-proclaimed experts on this network. Posting your website within the comments here doesn't have a tremendous amount of effect on your page rank. There are other ways to achieve better ranking. Some consider it spam.
Excellent post judging upon how many comments are here already. Yes, we really need to branch out with our marketing. You never know what source will bring that buyer.
Twinkle Eyes - love this analogy!!! You are just so darn clever, or is that soooooo darn good looking?
Anyway, love the reminder to sprinkle the in-field with our listings for broader exposure. If your MLS has an agreement with Realtor.com, you also get exposure on that site, too. I have enhanced capabilities there, so I use that on all my listings. And since I'm RE/MAX, we also get exposure on RE/MAX.com, and our regional RE/MAX websites. If one has a website with P2A, you get loads more exposure on a wide variety of sites through them.
Ann
my thoughts exactly, with multiple hooks in the water, even in the slow markets you should be working on SOMETHING!
Great post... Trulia, Craigslist, Vflyer are a couple that I use...
Rich,
Good post.I just started to load vflyers..but I only took the free version to try first but i was attracted to the look of it. And yes I have many hooks with my bait just waiting for the float to bob up and down so I know I caught something other than a cold!
Jennifer - GMTA!!!
Rich.
GREAT post. I must admit that I'm glad you didn't show a treble hook.
If I were a listing agent, I'd do all the things you mention. As a buyer's agent, I still want my name out there on the Internet every place I can manage.
The competition for page views is horrific.
Great thought! I wonder what hooks I am neglecting on the lending side. I get very focussed on referral marketing with Realtors and Builders. I think I need probably more focus on direct to consumer marketing.
Hi Rich,
You are so right about this! We feel the very same way about this. Lots of pictures are important as well and getting them online with the listing. Thanks for sharing this great story!
Mermaid..that must be the reason!
kk
I have something on Zillow now; they send you an email occasionaly that you must respond to asking if the listing is still active.
The only thing I'd be careful about, is their online pricing tool; you don't want their pricing tool to tell you your listing is worth $100k LESS than the list price; I saw that happen to someone else I know.
As with ANY online nationwide database, how MANY people are actually looking, for your particular listing / town or State? Realtor.com is still the biggest. If you are not using enhanced listings, I think you are shortchanging yourself.
Also, remember the Internet Survey said 80% START their search online. Many (MOST, I think) end up with a broker, for the added assurance, local knowledge, security and peace of mind in the transaction.
Thanks Rich, and yes there has already been some controversy about Zillow's market analysis.... I don't remember what is was but I think people were cautioned about relying too much on the figures.
I recently took a CRS Course, and the instructor said we should ALL be aware of the major home evaluation sites, and at least know WHAT the consumer knows. The odds are the consumer may have visited, checking his own value before calling you to list the house.
I teach an Internet Lead Generation course for our market center and have been wearing the webmaster/lead generator hats on our husband/wife team of Meservier & Associates. Great analogy with the hooks. There can never be too many hooks for your clients best interest; however there may not be enough time in the day to update all the posts and listings where price reductions and new photos are needed. I juggle 13 domain names and multiple blog sites as well as make webs for each individual property and still try to find ways to have the competitive edge in marketing.
Keep a list of where all your listings are posted and if you set out too many hooks, you may have to hire fishing guide.
Happy fishing. :)
Walt - the home value data doesn't necessarily concern me. I can always explain that to my clients and dispel the discrepencies. But some of these sites have ENORMOUS traffic. And inputting a listing might just give it some additional exposure.
Hi Rich
I have about 67 + websites we are listed on. Most of this is accomplished by posting on roughly 10 and they then auto populate the rest. You can find the list on my blog under the tag "for realtors" and the blog title is Wow - 67 websites. Hope you enjoy
Janie...Shine!