You Could Lose That Sale!

In our previous Blog post we discussed that to be a successful Agent/Broker you need to understand that its not only about “Location, Location, Location” it is also about “Communication, Communication, Communication” , who communicates first and in a way each separate Generation is going to expect from you.  Loosing a sale could be as simple as that...because you didn't communicate in a way that Potential Buyer is comfortable with. 

AND

You could also lose a sale just because you don't have personal information about yourself posted on your United Country “Meet Or Team” page or on your own personal real estate web page.  One thing these generations have in common is  wanting as much information about the company and/or the Agent/Broker before deciding to choose them in helping them make one of the biggest decisions in their life.  Wouldn’t you want to know as much as you could about the person getting ready to assist you in spending thousands/millions of dollars in one of the largest investments of your lifetime?

Having as much information available about yourself and your area is another one of your biggest challenges!  Would you move to another state by yourself or with your family without looking into it first?  I have noticed that about 90% of United Country’s Potential Buyers are from out of state.  (ie., your Confidentials)  Think about what it is you would want to know about before making this life altering decision.  Checking out the educational system, the health care system, job industry and so much more is a essential part of this process.  Have you ever noticed that the people who live in a “site seeing” area or a recreational area don't go to see the sites or use the recreation available.  But...people looking to move into that same area are wanting to know about all this.  They want to know the sites and they want to know what your area has to offer.  United Country suggests that each office has their own Lifestyles Brochure.  

Let these Potential Buyers get to know you and your company...get them hooked on your area and they will be begging you to help them find a home. 

Reaching out to your past clients and asking them to post comments on your Youtube Channel, your Facebook page, Twitter, Blog, Google+ and so on would play a crucial roll in the reputation you want all these Potential Buyers to see about you. 

When it comes to Generation Y home buyers, as a real estate agent you’re going to find that their needs are different from the previous generation of home buyers.  This generation is accustomed to operating in a world with remote controls, Internet and smart phones. In other words, they are accustomed to instant communication at the tips of their fingers.  When it comes to building, selling and marketing to this generation – it’s totally different. They’ll expect home to be wired with the necessary technology and connectivity to accompany their gadgets. When you find a property of interest to them, they’ll expect you to send the information instantly to be viewed on a laptop, smart phone or personal digital assistant (PDA).

:  Generation “Y” has out numbered baby boomers and 96% of them have joined a social   network

:  14% of consumers trust advertisements

:  78% trust peer recommendations. Word of mouth matters

:  3 of 4 Americans use social technology

:  2/3 of the global populations visit social networks

Did you also know . . .

8  13 hours ...the amount of video uploaded to YouTube every minute

8  100,000,000 of YouTube videos viewed each day

8  93% of social media users believe a company should have a presence in social media.  

8  90% of homebuyers use the internet to search for information and homes!  First time home buyers are the fastest growing segment in the market today.

Being a successful Agent/Broker you need to understand that its not only about “Location, Location, Location” it is also about “Communication, Communication, Communication”, who communicates first and in a way each separate Generation is going to expect from you.  Loosing a sale could be as simple as that...because you didn't communicate in a way that Potential Buyer is comfortable with. Loosing a sale could also be as simple as you not proving enough information about your area so the potential buyer loses interest.

It Just Makes Sense!

Each Generation Is Unique

Relating to the different Generations in Real Estate

Like how they react differently to and change what earlier generations have done over the years. With keeping this perspective in mind, it is valuable to not only appreciate where our own Generation, and those Generations before us, has come from, but also what to expect and how to work with the Generations to come.

Each Generation approaches challenges in their own unique way and as a result, solutions are acquired in a different way. That is not to say that one solution is better than any another, it is just to grasp the idea that if a Generation after you were born, ie., Generation Y or Z, (your in the years to come clients) has a problem, for example, finding the house that is right for them, do you know how are you going to help them?  Will you decipher their problem in the way they would ultimately expect you to or in the way your Generations knows how to?

Each Generation is likely to favor a different system of communication. For the Silent Generation it may have been a letter that was hand written or a phone call. For Boomers, it may be pagers or cell phones. For Generation X it might very well be email or Social Media, and for Generation Y it may be to send text messages. Each Generation recognizes and identifies with the means of communication they are most familiar with. So consequently, being able to reach out to each separate Generation will require a different means of  communication thru what their specific Generation was born into.

Lets look at an example -

Generation Y couple is considering a purchase for a new home. Being they have had access to the   Internet during their Generations life time, they will most likely decide to research prior to connecting with an agent via the internet. After considering possible neighborhood choices, the couple elects to do additional research by watching YouTube videos and/or online Virtual Tours of homes that are for sale. Upon finding a few properties they like, and doing some research about the real estate company and/or the Agent/Broker that has that property listing they send a text message to those Agents /Brokers that have established good online ratings and reviews with an inquiry and contact details.

Lets say the first Agent/Broker is a Boomer who prefers the telephone for communication, receives the text, but treats it like a phone call. The agent calls the couple hours later and ends up getting the Prospective Buyers voicemail, so he/she leaves a voice message.

The second agent, a Genration X’er and keener than the first agent, chooses to send an email. The agent sees the text message and sends the couple an email together with several attachments providing more information about the property and the area the property is located within a few short minutes.

The third agent, who is in the Y Generation who understands the imminence of texting, sends a reply within a few seconds with a short ambiguous message indicating that they are presently with a client, and leads the  couple to their website with interactive web page leading them to the information they need.

Does this give you a better understanding?  What kind of  “digital body language” do you use? Does your company accommodate to each Generation in their preferred method of communication? 

If not...you have some serious work to do!

Or better yet...we can accommodate you to set you up for success in this vital area.  Being a successful Agent/Broker you need to understand that its not only about “Location, Location, Location” it is also about “Communication, Communication, Communication”, who communicates first and in a way each separate Generation is going to expect from you.  Loosing a sale could be as simple as that...because you didn't communicate in a way that Potential Buyer is comfortable with. 

It Just Makes Sense!