Wouldn’t it be terrific if you could fine tune your marketing strategy just right…to make it wildly successful… and provided an outrageous return on your investment?

In today’s marketplace, what it takes is a major shift in attitude to segue from self promotion– to being totally focused on the consumer

For years, we’ve been conditioned to promote our own success and the success of our company, but that focus does not resonate with today’s GenX/and GenY buyers.  For many of us, it is a  challenge to change from our traditional thinking where experience and highly successful histories were once considered valuable and respected to crafting marketing messages that favor the consumer.

What we need to do– right now– is to stop being “self” or company focused and change that focus to be totally all about  the consumer–their wants, needs and THEIR idea of GREAT service!

Today’s consumer is totally different from yesterday’s buyers and sellers – they are empowered with the internet, they have access to what was once proprietary  information and they now demand more control during the buying and selling processes.

Seth Godin in his recent book TRIBES helps us to understand that in order to connect with today’s consumers, selling and marketing as we know if have been replaced with authentic LEADERSHIP and communication strategies that engender trust.

So we need to stop trying to SELL ourselves and start helping the consumer buy into the relationship so that once the bridge of trust has been established, they choose to do business with us.

If your current marketing is not moving the consumer directly and efficiently towards the satisfaction of their wants and needs, then you may be spinning your marketing money and wheels in the wrong direction 

In order to connect with consumers, there are many changes in how the marketing message is delivered. Social mediums can work, but only if they provide a true resource of information to the consumer that is designed to build community and eventually a relationship. Social media is a mindset, not a toolset and should never be used as a “selling” medium and do require an investment of time.

Crafting a true consumer centric strategy requires serious attention to the real wants and needs of our target market.   Here are a few tips to help re-define, re-invent and re-fire your marketing messages:

1) Conduct surveys to find out what your customer is really saying they want and need…not what you think they need. Use www.SurveyMonkey.com for quick, easy and low cost surveys.
2) Initiate a presence on the 3 top social mediums that supports delivery of the type of  information and resources your prospects are seeking
3) Monitor your online reputation by hearing and responding to both positive and negative postings.  It is in the “listening” and responding that you create raving fans
4) Review your current marketing messages and switch the slant of the communication from features to benefits.
5) Add true third party testimonials to your web strategy using tools like YouTube and FaceBook to allow the customer to be heard.  Authentic testimonials beat your raving about your successes at being #1 in the marketplace..let them decide.
6) Initiate a blog site that allows for interaction and participation with your customers and clients. It’s cheap, easy and buried in all that chatter is valuable customer preferences and feedback.

When you differentiate your communication strategies by offering multiple mediums that are driven by customer preferences, and that serve all 4 generational styles you will find that the results provide for profitable communication. 

Terri Murphy, Author of 5 books, her latest with Donald Trump. She is a Speaker & Consultant can be reached by email: Terri@TerriMurphy.com or for more information visit www.TerriMurphy.com

Singaporians: What can we learn from these enterprising people? We came to teach, but learned more!  Our first Prosperity Series Seminars in Singapore was a gratifying success.  The Singaporians are wonderful audiences and  seem most eager to gain new skills and experience the Yank’s input.  Our partners here, Allen and Jayanthi Pathmarajah, have been most gracious and hospitable and a joy to work with.  Their AJP Partners Group is well-connected and has an impressive client base.  What have Terri and I personally learned from this extraordinary culture?  Singapore and it’s 4.5 million citizens are a noble people with lofty goals and a desire for betterment.  Their entrepreneurial initiative makes them global leaders…they do much with little. The income tax here maxes out at 20% which is cool.   As to the monetary dynamic, our dollars are worth more than theirs, but most of their goods are more expensive due to the fact that everything is imported – even the water!

Singaporian audiences are very diversified and seem  introverted, until you ask them to participate–then they are pleased to present their ideas and be heard.  Very smart people… Energized note takers, eager to capture everything… Appreciative and kind – how can you not like these wonderful people?  Terri and I are already looking forward to our next trip to this extraordinary island country.
Terri and Don

Terri Murphy
President: Terri Murphy Communications
CIO, USLearning.com-Featured author with Donald Trump-”The BEST Real Estate Advice I Ever Received”
901-767-0000

www.TerriMurphy.com 
www.MurphyOnRealEstate.com
www.WomensWisdomNetwork.com

Email To: Terri@TerriMurphy.com

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Terri Murphy 
 

FOR REALTORS

How to Interview a Lender Partner
To Create Strategic Alliances

Get more listings by partnering with your lender!

 This questionnaire is to help you as a real estate agent to interview a prospective loan partner(s) to determine if there is an interest/match in creating a mutually beneficial strategic partnership to promote cross marketing and referrals between the agent and the loan originator…..and ramp up the servicing for your clients and customers. 

 In order to comply with RESPA/HUD regulations, it is imperative that both the agent and the loan originator be aware of what is appropriate and allowable to avoid violations of these regulations.  However with recent due diligence, the ideas stated here are designed to create a harmony for both parties to create an exceptional service offering for the consumer, while creating a long term client for life after the original transaction.

 Use this as a template to interview other ancillary services to the transaction that would mutually benefit the cross leveraging of services for other services: Target professionals like financial planners, accountants, tax specialists, insurance agents, attorneys, etc.

 As a Real Estate Agent

 It is imperative that if you refer your customers and clients to a loan originator that there be some structure to support you and your client during the sale process, and more importantly, AFTER the closing. Your choice of lender would be predicated on their commitment and support of your referral and you as their agent to promote a true client for life resulting in repeat business and endless referrals.  Listed below are questions and suggestions to determine if the loan originator you are working with is interested in a reciprocal (and legal) cross service/marketing effort.

 Script:
“I am interested in interviewing specific loan originators to determine if they would have interest and commitment in developing a “strategic partnership” to work together in offering more mutually beneficial services to my customers and clients.  I know that by y creating this expanded service platform, I can offer my clients and customers a higher level of service and begin building a solid relationship that builds trust and creates true repeat business.

  I want to align myself with high level experts in loan origination that are willing to deliver the same high level service commitment and expertise before, during and after the transaction to build a true client for life”

 This questionnaire was developed to give you an idea of the types of questions to ask a prospective partner to determine if they are the right “fit” for your partnership activities.  Use them, edit/change/and make them your own to fit your marketplace, your service model and your vision for top level marketing.

 Questionnaire: 

1. Are you interested in working with my referrals?

2. The loan industry has available an exceptional Client Relationship Management system that is available to loan originators. This program, “Mach3”, offers web based client relationship management for our customers. One of the many options of the program is  that is designed to include me the real estate agent in the communication and marketing with a program referred to as the  “preferred REALTOR® program”.    Would this be agreeable program for you to use with all of my customers who get their financing through you?   (http://www.TurningPoint.com)

3. What tools are you presently using to communicate with an agent and their customers when there is an application in process?  Do you use email? Status sheets? Electronic updates? Email? Fax?

4. Should we begin working together, I would expect that as a team, I would refer you prospects that need loans, and you would make me one of your primary choices for customers or clients needing the services of a professional REALTOR.  Do you presently have a system in place that provides consistent buyer or seller leads?

5. I presently implement marketing where it is appropriate to include a link or destination for additional mortgage information.  This link would drive prospects directly to you and trigger a high level, service oriented drip campaign to this referral until such time they are ready to buy or sell. Would this interest you?  What program or system would you create to handle these leads after you received them?  If I implement as system that captures leads from my site and directs them to yours, what can we do to systematically increase the number of leads to sales?       (http://www.RealProSystems.com)

6. Do you have an automated system you are presently using to update your agent (s) and the customer as to the status of a loan?

7. As part of my marketing, I am considering doing a regularly scheduled series of special events, like  seminars for first time buyers, real estate investment, credit repair and consolidation, lunch and learns, etc. Would you have interest in participating to co-produce these events?

8. I am considering (or currently using) an automated voice response system that offers several alternative options to the caller for mortgage information, credit information, etc.  I am seeking to put my partnership lender contact information on the system, to help qualify prospects and convert them to buyers.  What is your level of interest and what information would you provide to support these leads?

9. One of my prospecting activities is to prospect around the area of properties available for sale; including my own listings, my office listings and other properties, including For Sale By Owners.  This activity, called the “10/10/20” program would require that my loan originator and I would prepare a simple flyer with information about the property offering.  Where appropriate, we would “walk” and knock doors (or mail) the

10 houses/properties on either side of the property offered for sale and the 20 across the street, asking for help in securing a “New Neighbor”  with information on the flyer– Would you have interest in this activity and how often?

11. I am currently offering “STEALTH” marketing classified ads offering service first opportunities for reports, information and resources for real estate and loan information services.  Would you be interested in any reciprocal advertising strategies where we alternately place these ads and mutually service the responses either using the Call Capture service or the web links?

12. Do you have any marketing programs in place to secure prospects for buying or selling that would require the services of an agent? As an example, directed to For Sale By Owner’s? Expired Listings?

13. What type of mortgage programs are you currently familiar with outside of conventional programs? As an example: Rural Development Assistance (RDA) Funds? FHA? VA?  Commercial? 

14. How familiar are you with Short Sales or Foreclosure procedures? Is your lending institution approved to handle short sales?
    
15. I implement the use of a pre-appointment package that is delivered to my prospective listings PRIOR to my appointment.  I include an endorsement letter from my loan partner offering extended services to the prospect and a summary of benefits they offer as a member of my full “team” of services. Would you have interest in participating in the creation, delivery or contact of these prospective sellers? (available at www.TerriMurphy.com

16. I currently use a Buyer’s Guide for buyer prospects that I am working with, and my goal is to help them see a full spectrum of financing solutions so they can make an informed decision.  What programs or assistance can you offer to help create an exceptional service experience both in person and in contributions to this offering?

17. I am interested in including information about my lender partner(s) as a value added component to my traditional and electronic marketing. Do you currently have any marketing tools in place that are  RESPA compliant that appropriately cross markets our services to generate more prospects?
(www.TurningPoint.com)

18.  In an effort to continue nurturing past clients and customers, I will be hosting an annual event. I would want my loan originator to participate in these events. Would you be amenable to help co-host these annual events?

19. Do you have interest in working with me on tandem e-marketing activities that could include podcasts, video, neighborhood/area community blogs or the use of social mediums used to offer more information and services to clients and customers?

20. What type of accountability programs do you have in place to monitor our referral exchanges?

21. What would you expect of me to keep us focused and working together more seamlessly so we could provide integrated service and communication to the clients and customers we have under contract?

22. What tools, systems, programs or activities do you expect from me as your REALTOR partner to help promote your business to my prospects?

23. What kind of Social Media marketing strategy are you currently using to
promote interaction and participation with clients, customers and prospects?   
(i.e. Linkedin/FaceBook/Twitter, blog sites, etc.)

Copyright-2009 Terri Murphy Communications, Inc. – All rights reserved

Terri Murphy, President Terri Murphy Communications
CIO, USLearning.com-Featured author with Donald Trump-”The BEST Real Estate Advice I Ever Received”
901-767-0000
www.TerriMurphy.com  -  www.MurphyOnRealEstate.com
www.WomensWisdomNetwork.com

Social Media Network:
www.Linkedin.com/in/TerriMurphyCommunications
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Listen In!

 Create A Powerful Social Media Presence
Join The Conversation!
Monitor Your Online Reputation.

Click the link below- 
Then Click The Music Note To Listen In!

Scott Hutson Interviews Social Media Expert, Terri Murphy

Terri Murphy – Social Media and Your Online Reputation

-

You may want to rethink that scenario for a moment.  In a speech by author and entrepreneur, Nando Parrado, he addressed an audience of over 1200 professionals last week.  He said that we might not really have problems, but may be dealing with “issues”.

You may recognize his story of survival in his New York Times bestselling book, Miracle in the Andes”.  His story recounts how he and his 15 teammates survived for 72 brutal days after their plane crashed into the frozen Andes mountains some 30 years ago, and if you’ve heard him speak, you surely understand that he encountered some serious problems.  

Can you even imagine the numbing fear of being one of a few survivors in a tragic plane crash and trying to survive the dead of winter for over 2 months?   Envision the feeling in the pit of your stomach when you heard the faint transmission of a news story coming from a dying transistor radio reporting that the search parties for you and your party have been called off.  Think about what you would do to make a dinner out of a  single peanut and make it last 8 hours– knowing going forward there would be no  food, water, or sufficient clothes to protect you from temperatures that plunged to 35 degrees below zero at night….Now those are problems!

As I sat there in awe of his moving story about his experience in that vicious mountain environment and how he and a handful of friends survived the ordeal and are here today because they were empowered with a staunch determination, had unbelievable courage, and exercised remarkable team work. But it was his reference to the difference between problems and issues that got my attention.

He asked, “Do you think you have problems?  I think you might find that you have issues”.

When paralleled against this incredible story of tragedy and triumph, if we study the state of our market, you might say we are experiencing “issues” not problems.  We have solutions, and can for the most part, find answers to questions.

Many of us have had to deal with serious “issues” that threaten our income, our productivity, our credit, our lifestyle and more.   

Our market is in transition, but we still have resources on almost every level.  Solutions are available to help to diminish the deep pain many suffer due to the consequences of our markets. But in many cases, we’ll keep moving forward. There are resources available in our great country.

When we mark up the positive side of our market we find that shows some healthy resurgence in some areas.

• We presently have  very affordable interest rates
• FHA has offered higher limits, and have made some innovative changes in their platforms
• New initiatives like the  First Time Buyer $8,000 buyer credit with elimination of repayment requirement gets more qualified individuals into housing
• The market  offers more affordability
• Expertise is required to become trusted advisors to serve clients and customers at a higher level

 There are serious hardships out there.  Our lifestyles, comfort and choices have been impacted for the first time in many years.  Families are challenged to cope with a new normal.  Change isn’t easy, but if we weren’t open to change, we wouldn’t have the amazing innovations that come with the opportunity afforded by those changes that force us to look at things differently.

And the good news is that according to NAR’s latest reports, there are encouraging signs on the horizon. As Nando said, we don’t have problems… but we do have issues….and better yet… we have solutions!

Terri

Terri Murphy, Pres, Terri Murphy.com
CIO, USLearning.com-Featured author with Donald Trump-”The BEST Real Estate Advice I Ever Received”
901-767-0000
www.TerriMurphy.com   -   www.WomensWisdomNetwork.com
www.Linkedin.com/in/TerriMurphyCommunications
www.Twitter.com/TerriMurphy
www.Facebook.com/TerriMurphy

Not everybody loves listing properties, but I surely did! I loved taking at least 10-12 a month for many years and the reason I loved listing so much is that all of my competition literally was working for me! If a property is listed thru MLS, you’ve got a huge team out there that have more buyers than I could handle at one time, so my job was to make my listings really stand out!

So here are a couple of tips I found to be extremely successful to helping get my listings sold no matter what the mood of the marketplace at any one time:

1)      First choose your listings well!  I know  there are sometimes we feel like we just need to list about anything for any price just to have a few listings… and our strategy is HOPING that they sell! Well that’s your first mistake!!  Like any good professional, only take those properties that are PRICED RIGHT and work with whom you like and would enjoy a good professional relationship with the sellers.  If they are high maintenance before you list, they are generally more demanding later! So identify properties in an area you have great confidence and expertise, and choose to work with property owners who are motivated and who are willing to work with you.

 2)      Price them with the market – which is not a onetime event! READ your marketplace! If the market shifts, you don’t want to chase the market – studies show overpriced properties sit longer and generally sell for less than fair market value in the end. Coach your sellers right from the get go on this important facet of their marketing strategy – Study the market WEEKLY to report what’s happening so they are part of the decision process

 3)      No matter what, the property must show well and you must provide easy access.  It’s at this point you must have control of how the property can be shown. Nothing is more frustrating than investing your time and money only to have a prospective buyer not able to see the premises because it’s a bad hair day for the owner.  Just remember when there are plenty of properties on the market, if your listing is hard to show, the buyers will just move on to the many other choices available.

 4)      Don’t insult the sellers, but insist that they make particular improvements BEFORE you begin investing your precious money and time to market their property. Who wants to buy a property that is messy, smells bad or needs fresh paint? Unless you are selling distressed properties, your listing becomes YOUR house…so if your sign is on the property it must GUARANTEE that it is in tip top shape from the curb to the kitchen! There’s simply too much competition out there and today’s market has been described as a beauty contest and a price war….so be firm about having the changes done before exposing the property to the buying public.

 5)      Use technology!  A recent study revealed that only 10+ percent of all listings were marketed with virtual tours… and this is a GREAT way to get the new GenX/GenY buyers involved in your listings, as well as creating differentiation at the listing table with your sellers. Use the best virtual tour programs that help ENGAGE the buyer into the property. My favorite is OBEO.com virtual tours because it offers a myriad of features that allow the prospect to interact with the tour…like changing the colors of the flooring, walls and cabinetry. It also has a great “automagic” reporting capability to your sellers.  

 6)      Use MORE E-tools:  If you aren’t using some of the latest tools to market properties why should your sellers list with you? It’s like hiring a doctor that doesn’t have the right medical equipment to make sure you are healthy! If you want to dazzle your prospective listing clients, demonstrate your incredible box of power tools to get their property sold!  Are you using BLOGS that help direct search engine optimization or web traffic? Are you using a tour that helps submit your tour to major web portals? How about podcasts? Are you maximizing search engine optimization using iTunes and Technorati? What about offering your sellers their own property website, which by the way is a feature offered by some top virtual tour services.  Brochure boxes are nice to have, but what happens when a buying prospect opens the box and it’s empty?  Do you explain to your sellers that you have that covered with a call capture number that works 24/7???

 It’s been said that in order to last in real estate, you need to LIST to LAST!  There are a million ways to win the listing and get it sold…so grab a few of these great ideas and take your listings to SOLD!

Terri

Terri Murphy, Pres, Terri Murphy Communications, Inc.

CIO, USLearning.com-Featured author with Donald Trump-”The BEST Real Estate Advice I Ever Received”

              901-767-0000        

www.TerriMurphy.com  – www.WomensWisdomNetwork.com

www.Linkedin.com/in/TerriMurphyCommunications

www.twitter.com/TerriMurphy

www.facebook.com/TerriMurphy

Terri  Murphy  – Copyright 2009© – All rights reserved

By: Terri Murphy

My long time friend Mary posted on her Facebook that she was holding her home open and was “hoping” for some traffic.

I know that my friend Mary is a HAIRDRESSER, not a real estate agent!! I just had to call her and find out why she was holding an open house knowing that her home was listed with a licensed agent.

Mary told me that she was excited to find out that in her small town the houses on either side of her property were scheduled to be auctioned off on the upcoming Saturday from 10-12:00, and she had called her real estate agent to cash in on the free traffic by proposing the agent hold an open house on that designated Saturday.

The auction companies had blasted the media with the date, time and place and she really wanted to “take advantage” of the free traffic in hopes of snagging a prospect to look at her property while in the area.

So Mary scrubbed, staged and manicured her home to be ready for this onslaught of buying prospects in time for the 10-12:00 appointed time for both auctions to occur.   She patiently waited for her agent to drop off the open house signs…..The clock hit 10:00, 10:30, 11:00 and 12:00 – and FINALLY the agent arrived…AFTER the auctions had occurred and any interested buyers were long gone!  She had no timeline in her daily or listing schedule of activities to be appropriately on time to maximize this rare opportunity in a rural marketplace, nor did she seem to share Mary’s desire to be visible during this rare event in their small town!  The agent had completely missed the opportunity!

This lack of service is frustrating and downright rude and creates the question: Why should a seller pay you a fee when you aren’t pro-active about marketing their property?

As a Realtor® professional and as a friend of the seller, it frankly disappointed me that Mary has employed an agent that doesn’t understand the principles of SERVICE! …Nor does this agent have a clue about what it takes in to orchestrate today’s marketing strategy that gets a property sold.

If you are interested in pumping up your service model to exceed the expectations of your seller and create true differentiation in your service model when compared to your competition, you might want to ask yourself these questions:

1. Have you developed a timeline of activities you follow when you take a property listing? 
2. Do you share this timeline of marketing activities with your Seller?
3. Have you discussed with your seller the average marketing time and number of showings a properly priced property historically can expect in your area before going under contract?
4. Do you ask your Sellers what communication medium they prefer for their updates and showing feedback information?  Do they prefer phone? Fax? Email? Traditional printed mail?  Too many agents simply use email and assume this will suffice when your seller may prefer to connect by phone at least once a week or prefer both.  How will you know if you don’t ask?
5. Do you follow that timeline and communicate with your sellers what will happen on a daily basis from the first week thru the fourth week of the month so they are ENGAGED in the marketing process and can SEE how you are working to effectively market their property?
6. Do you provide a communication to that seller on a consistent weekly basis of what has been orchestrated in the plan you discussed at your listing meeting that shows accountability for your marketing actions?
7. Do you have a proposed revised marketing strategy after the first 30-45 days that might include a price revision, changing or adding photos, revising MLS copy to reflect any changes on the premises?
8. Do you counsel your sellers in advance about overpricing a property and how it can damage the initial marketing debut in their marketplace?
9. What plan do you have in place to adjust the marketing price if the property shows more than “x” amount of times but gets no offers?  Do you explain that having a ton of showings can simply mean the agents are using their overpriced property to sell others that have more to offer at a better price?
10. Do you also counsel your seller about offers that might occur in the first few days on the market so they don’t feel they have “underpriced” the property?

Many of these questions and concerns can be addressed when you first take the listing when expectations are high and communication with your seller may not be totally clear. Having a timeline of activities not only provides a framework for the seller to follow, but provides a structure for your services that they can monitor and you can show accountability for your efforts. When you can show your marketing efforts have been executed, it may be their pricing in the marketplace.

No one wants to pay for service they don’t get!   My friend Mary is already angry and disappointed at her agent’s lack of service that she EXPECTED and the listing has just begun.  Like any successful relationship, clear communication and expectations for services that we pay for makes for higher satisfaction from our consumer. 

Consider using a timeline of marketing activities, get the sellers approval, suggestions and concerns and then deliver what you promise on time every time.  Bad reviews travel faster than ever before, so focus on making every transaction end by creating another raving fan!

Terri Murphy is an author, speaker, communication consultant, and author of 5 books, including her latest with Donald Trump. She is the founder and Pres. of WomensWisdomNetwork.com and serves as CIO of U. S. Learning in Memphis.  email: Terri@TerriMurphy.com   or visit www.MurphyOnRealEstate.com  (on the way)

This is the featured video from the “Doing Business In Tough Times, Strategies That Work!” Seminar held Friday February 3, 2009 at the Hotel Vancouver. Prestigious member of the Speakers Round Table, was BCBusinessmagazine publisher Peter Legge, and on this film is interspersed business wisdom from such luminaries as Premier Gordon Campbell, Claire Newell, and Bob Rennie – Great Motivation! Great Insight! Great Leadership!

Be Bold!
Best Regards,
Terri

Terri Murphy, Pres. WomensWisdomNetwork.com
CIO, USLearning.com-Featured author with Donald Trump- “The BEST Real Estate Advice I Ever Received”

901.767.0000 Fax: 901.767.5959

Terri@TerriMurphy.com

www.TerriMurphy.com
www.WomensWisdomNetwork.com