Are you prospecting for better buyers?
The trend I am seeing over the last several weeks is that less and less buyers have any cash on hand in the bank and their credit scores are lower than ever.
Also, they are less informed than they used to be as well. For example, one young lady called to get pre-approved for a $279K house since she just got a new job making $36K like the garbage collector above. The mortgage on that alone would almost be her entire gross pay!
Anyway, I am sure that there are some good buyers out there looking for a great realtor to find them and tell them about the great values, tax credits and low interest rates to get them into the market.
Here are 10 ideal places and ways I thought of to find them!
- Promote an incentive for higher than 620 credit scores! How about promoting with something that mostly higher quality buyers want like college football tickets or tickets to a wine tasting event or maybe a play? If you advertise for folks with bad credit, that's what you are going to get so why not do the opposite?
- Put out some professional looking brochures in some higher-end automobile dealership service center waiting rooms, high-end retail stores, nicer beauty salons, pet salons, nicer hotels, nicer fine dining restaurants, etc. Promote your 'white glove' high-touch service and highlight the extra things you do.
- Hold an open house in your better homes and if you do not have any higher priced homes, ask a realtor in your office that does if you can hold an open house there. Then, read the open house idea listed in my sample business plan again and see if you don't find some great buyers! Cover this strategy with the listing agent first and then go for it. It is a great promotional strategy for generating prospects.
- Scan the papers for events that higher quality people might be attending that week and make sure you are there! Take a current client with you to increase your chances of running into people that you can talk to while building that rapport with your clients too.
- Network with individuals that circulate in the right circles. Take a super networker to lunch and try to get included in their circles and things that they are attending.
- Airports are great places to do some prospecting for higher-end business travelers that may be relocating to town soon so why not put out some good marketing material and attract them to you before they get serious about a new home?
- Libraries and book stores are great places for some prospecting for good buyers with some good literature about the local market and about your business. And since these places are full of readers, think about some things like branded giveaway bookmarks.
- Take a quick trip to the beach and meet with a realtor and partner with them for some referral fee promotions. Then promote some of their listings in your print ads with their help on the cost. Since most people are not familar with the values that are available at the coast right now, you are sure to draw some interest from some good buyers and then, who knows, you might get them interested in some local properties too!
- Advertise on a cable channel that might be attractive to better buyers like the food channel, news channels and HGTV. Go in with some colleagues to promote your services and to share the expense.
- Put on your best professional outfit and namebadge and start networking in higher-end businesses and networking meetings as much as you can with your business cards in your pocket. Some places that come to mind are: Chamber of Commerce meetings, concerts, fine dining restaurants, plays, tradeshows, etc.
The main thing is to think of yourself as a higher-end realtor and think this way in all that you do. Look your best, carry yourself with pride, wear a badge and a smile and be outgoing.
When you do, you'll start to attract better buyers. Believe me, these guys are a whole lot easier to close and with them, you are going to make a whole lot more money and have a whole lot more fun doing it!
Thank you for your referrals!
Senior Mortgage Advisor
PHH Mortgage - 843-230-7929
Senior Advisor - Helping you GROW your business!
www.activerain.com./luckydog1 - SC
www.activerain.com/luckydog2 - NC
http://samthompson.phhmortgage.com/
www.myphhmortgageadvisor.com/
Sam,
Thanks for the post. Good suggestions for marketing to the higher end consumer.
THIS IS GREAT! Thanks!
Hi Sam,
Looks like lots of great information but please could you use a larger font and save my eyes? :0)