This isn’t a tutorial on changing your real estate market niche if you’re happy with the one you’re working. If first time buyers or lower priced homes are your markets, no problem. However, if you work higher priced homes or luxury homes, even condominiums or homes above $200,000, this information is going to change your income for the better.
You’re seeking “qualified leads” for higher priced homes, so logically, you’re searching for prospects with the incomes that make those homes affordable. Who are these individuals?
- Middle or upper-level management people.
- Self-employed business owners.
- Attorneys, Accountants, Bankers and other professionals.
These aren’t the idle rich. They’re all working in careers or business, and they all deal with a lot of detail in their business lives. In short, they all share some level of analytical tendencies. Now we know these targeted prospects have two things in common; they’re analytical, and they have the money to afford higher priced homes. How do we attract high-end buyers for real estate commissions?
Trait #1: They're Goal Oriented
These are the people who make their livings getting things done. Even accountants and lawyers are tasked to achieve certain financial or legal goals for their clients. Business people are all about doing the right things to prosper in their business and markets. In short, these are people who focus on results, not fluff.
Tactic #1: Think Like They Do
Let’s say that you’re in a market with vacation, resort and luxury homes. It could just as easily be a higher end subdivision in a major metropolitan area. An agent in this area will do well if they do not spend time “selling,” or in other activities that their prospect will consider a waste of time. Ask them what they want to know, or the next action they want you to take. They’ll tell you and appreciate the direct approach.
Trait #2: They Know What They Want
These buyers know what they want, and they’ve probably already done online research to be sure that what they want is available in the market area. They often do this research to make sure that they don’t get “steered” toward brokerage listings. They want to see whatever meets their criteria.
Tactic #2: Attract Them Early & Be their Information Resource
Capturing these prospects as early as possible in their research curve is the approach you want to take. With special reports and calls to action that get their attention when they’re doing their research, you become the source of information when they have a question they can’t get answered in their searches.
Trait #3: They Want Accuracy, Fast Responses and No Fluff
Some of this is just common sense or applies to all prospects. However, things like prompt email responses and no spammy type emails are even more important with this group. Whether it is ego or they really are super-sharp, many of these client types will consider you a necessary tool to get what they want. They will not want sales pitches, just accurate information.
Tactic #3: Just the Facts and Fast
You can get some interesting requests, such as why is this home underpriced based on similar properties. It’s a business person’s analytical question trying to decide if there is a value or a problem in what appears to be a bargain price. Do some quick research and tell them why the price seems low, maybe it is a deal or possibly there are problems with the neighborhood or home. Offer to do some research for them to nail down the pricing difference.
Trait #4: They Respond to Perceived Expertise
Before this prospect group gives up their contact information, they will base their decision on your value to them and your knowledge and market expertise. That’s how they do business, selecting vendors and service providers based on their ability to do their job. In their online anonymous research phase, they will be testing various websites and comparing the information they find for how well it meets their needs.
Tactic #4: Provide Reports, Market Data and Commentary
To get these anonymous site visitors to tell you who they are, you should have comprehensive information, but also offers of examples, reports, and data via email. You’re offering to expand on the information on the page they found through their search. If they’re on a page with information about a specific area or neighborhood, offer an MLS report of sold properties over the past year or longer in that area.
Don’t just send a report, however. They will be looking at previous sales and comparing them to current prices. You should offer them your opinion on what they see. Include a note, paragraph or more with the report commenting on why prices have risen, fallen or the market seems to be stable. You may even be able to comment on specific home sales in which you were involved. The point is to provide more information than other sites and commentary that shows you’re on top of your market activity.
This Stuff Works
One of our real estate broker customers with a Websitebox site proved these strategies. He shared some information with us. He worked in a vacation market, putting in around 20 hour average work weeks, and took home a six-figure commission income. He worked with clients via email for months, and now and then for a couple of years before they arrived to make a purchase. On average, he showed only three properties to write a contract, as the bulk of market and property research was done before the clients arrived.