Mike: Hi everyone, I'm Mike Minard with Delta Media Group, and we're here for unlocking your potential, and I have Harley with me.
Harley: A pleasure, as always.
Mike: Today I just want to briefly go over new listing notifications. But before we get into what I want to chat about, just a little bit of housekeeping. I want to remind you that if you have any questions or any feedback, feel free to post that feedback to this video on the comments below. We'd love to hear from you and get your feedback.
One of the things that you have access to is the ability to send new listing notifications. Really though, before I get into that, a lot of times when I speak to ... I say ... I call it C-level people, or management level people, I like to be pretty blunt with them. What I mean by that is I'll challenge their thinking or their position on things.
I'd rather be challenging and cause you to think about something and have you be confident of what you're doing in your position than anything else. So today I'm going to be a little bit blunt and give some feedback that I hear about the industry, and just be a little bit blunt about some things that I think you should be doing that you may or may not be doing, but these are things that do bring value to your business.
So what I want to start off with is ... And, Harley, if you've heard anything feel free and jump in. But I want to share some feedback that I've heard from friends. This is about the industry in general when it comes to real estate and why use a realtor, what value does a realtor bring to the transaction.
I have this one friend that he's bought and sold homes a few times, and this past time he did not use a realtor to sell his home and to buy another new home. So I was asking him about that, like why didn't you? And the feedback that he was giving was why do I need a realtor? He was kind of laughing about it, but like why do I need a realtor? As we were talking through it, he said what value do they bring? What do they do for me?
I think he was speaking from his past experience that he had, and what he also shared with me was, "I used a realtor once and they really didn't do anything. As a matter of fact, I had to follow up with them to make sure things got done." I think it's good to listen to that feedback, not to defend it, not to prop it up and use it to support anything else, but just to listen to it and to challenge our thinking of what we do.
Actually, this past week I was having a conversation ... Because that conversation with that friend was a year ago or so, and last week I was having a conversation with a friend here in the office, somebody that does work here, and we were talking about the home buying process, because this person is in the process of looking for a home, and I think their feedback is very valid.
We were talking about it and talking about new listing notifications, and this person said something, or a few things, and it was really interesting for me to hear it, because they said, "You know what surprises me the most is that I have to go and basically self-service myself." We're talking about new listing notifications, we were doing this video, and I was getting that person's feedback and said, "What's your feedback?"
This person said, "You know what?" Because I was asking this person, you know, "Hey, you receive new listing notifications. Tell me about how those got set up." And you know what they said? They said, "I've had to set all of them up myself. I'm asking questions, and no one has even offered to set them up for me, none of the realtors have."
And I thought really that comes back to how does a realtor bring in value, because I believe they do. They do bring value. Obviously you believe that you bring value to the transaction. But we need to take a look of the home seller and the home buyer.
As I was thinking about that, my thought was people want someone to help them through the process.
Harley: Yeah. It's a complicated process, so ... And actually I had exactly that conversation last week with a friend of mine. He is a big proponent for doing things entirely online, so that's exactly what he did when he bought his last house.
They might not know that much about the area. They might not know as much about what they want or what they should be looking for, and that's where you're the expert. That's where you can come in.
Mike: Right. So I would challenge you to ... If you're on social media, to post that on social media. But then I would also say ... I would also challenge to reach out one-to-one. There's nothing worse than knowing that you're in a blanket email. I think it's okay to do that, but not as your only method of communication.
I have always liked the one-to-one. You know who you're working with. You know the customers and friends that you're engaged with, the people that are thinking about buying, thinking about selling, and reaching out one to one with them via ... Email is fine, but I would caution to not hide behind email. So email is okay, text message, phone call. You know we still have those phones, we can actually call people.
Harley: It's amazing, right?
Mike: Yeah, it is. But even messaging on Messenger, on Facebook Messenger, or other channels ... But reach out one-to-one, engage with your friends and customers and prospects and offer this one-to-one to them.
But then also the third thing is start going through your CRM. It's amazing to me how many real estate professionals that have been active in the business for years, they might have a database of a few hundred to a couple ... Some like a few thousand legitimate. They've been doing it for a long time.
But create a plan to be farming your CRM and cycle through that. If nothing else, cycle through it within the next year. How can you cycle through your entire CRM and touch every single person one-to-one in the next year? I feel like that's a good thing to do.
One thing I would point out about something I mentioned, that if you do have people that self-service, I think it's a good thing to reach out to them personally. You might get an auto respond or something like that, granted, but I think it's good to reach out and say, "Hey, I notice you set up a safe search. Are you receiving what you expected? Do you want me to customize this for you? Do you want me to narrow it down?" And again, that's stuff you'll cover tomorrow, right?
Harley: You can even set those up and leave off the notifications. You can just tell them they can log in and they can see it, but they don't get the emails from the one that you set up for them, so they can decide if they want to get those. So you have a lot of options.
Mike: Right. Right. And, again, what's so important to this is because you have so many options, most of you can do this as well through your MLS, believe it or not. I know this sounds really crazy, we track these things, but our system, especially for those of you that can send these out on real time, we send out the notifications quicker than the MLS does. Even though that listing is entered into the MLS, we send out the notifications before the MLS does.
Harley: It's just getting the data, and half of it's just how fast you act on it. That's the difference.
Mike: Right. Right. But not just that, for those of you in a hot market, but then also the fact that you're building your database in an area where you can control it and it's integrated. And we'll talk about this more, especially next week, when we talk about reverse prospecting, because we use this data to empower you to be able to reverse prospect on listing presentations, so building a data base that you control is really important for that reason.
So again, I think you need to ask how can I bring value or how do I bring value, and when you ask that question ask it from the client's perspective, not your perspective, really view it from there, from their perspective, and then start doing those things. To me one of the ... Again, it's very simple, new listing notifications. So-
Harley: Yeah. And tomorrow you'll see how easy it is to get those set up so-
Harley: ... it only takes a minute out of your day.
Mike: Well, thanks for watching and we'll see you again next week, where we're talking about reverse prospecting reports, and tomorrow you'll see Harley on Tech Tuesday-
Harley: Can't wait.
Mike: ... where he'll be going through how to set up new listing notifications. So thank you.
Harley: Thanks a lot.