Keep customers for life with these tips

We can’t stress enough how important it is to stay in touch with past customers since they can be your best source for referrals.  Small business owners and Realtors all know that you build your customer database with past customers and you should have many repeat clients throughout the years.  There are important strategies to learn about how to make sure a first-time customer is a lifelong customer.  If you are happy, your customers will be happy.  Here are a few of the tips:

1. Expect the best from your customers.  Don’t meet someone new and worry that they won’t pay on time and haggle them about your payment deadlines.  Don’t think they won’t show up for appointments and remind them how busy you are.  Expect that they will be a customer who pays on time.  From the very beginning, treat your customers with respect.  Expect upfront that they will be one of your best customers.  This will help keep your relationship a long-term one.

2. Beat their expectations.  Of course, it’s important to have quality products and offer what it is you are promising in your marketing pitches.  That is the first step.  But once you have that under control, go beyond the norm and what is expected.  If you’re a Realtor, offer to help them stage their home at no additional cost.  Send them articles about their neighborhood they would be interested.  As a small business owner, if you have a customer looking for a product that you don’t stock, offer to find it for them.  If you have someone who can’t get to your store during business hours, offer to have it open when they’re available or help them order online.  By exceeding expectations, you’ll be pleasantly surprised at how loyal your customers can be.

3. Incent customers to want to remain your customers.  Offer a loyalty program for repeat customers.  For instance, they can regularly get a discount on regularly priced merchandise or free shipping with every order.  Realtors can offer money back on their commissions or always provide a $250 gift card to a home improvement store upon closing.  And always provide an incentive for customers who offer you referrals.  Always send a handwritten thank you note with a token of thanks, whether it’s a $5 Starbucks gift card or a coupon for a free dinner at a local restaurant.

4. Listen to their opinions.  Find out what products you don’t have that you should offer because it’s what your customers are looking for.  Ask for suggestions on store layout or how you can speed up your service to make them happy.  By implementing their ideas, they’re more likely to come to you in the future.  Not only that, but it’s an other easy way to earn their referrals.  They’ll know that you’re likely to listen to what they have to say.

More great tips can be found in Jeff Wuorio’s article here.

completeREsources Chicago prides itself on customer satisfaction. We are available for all of your marketing needs. Give us a call at 773-267-6167 for help with your next project.

How to handle the tough objections

Anybody who has ever tried to sell a product or service before has run into the problem of dealing with objections.  You know, those few words that can pull you right back down after you felt so good delivering a presentation sure to close your sale.  Jeff Wuorio is a small business writer, and he offers suggestions on how to deal with some of the more popular objections that occur in a business setting.

1. I’m already working with your competitor.  First of all, know that no matter if the customer is happy in that relationship, they may feel particularly loyal to the competitor for a number of reasons.  It could be a past sale with them, a family relationship, etc.  And you don’t want to destroy that loyalty.  What you do want to do, is try to get them to listen to what you have to say.  The customer can’t lose anything from hearing your sales pitch.  Worst case is they don’t leave your competitor.  Nobody got hurt, and you got to practice your sales pitch again. 

2. You’re too expensive.  This could be another reason why they choose to go with a competitor.  When they say this, they often don’t understand the concept of the value you’re offering them.  They’re focused, instead, on the price.  Show them how your product or service will offer them a return on their “investment.”  Don’t automatically bring down your price because it takes the value out of what you do.  Instead, try to find out what they’re willing to pay and offer them a replacement product that will equally suit their needs for less money. 

3.  I don’t have time to talk or meet with you.  At least they’re taking the time to let you know that.  That’s a sign that you’ve already gotten through to them.  Wuorio’s article says, “”They may be dealing with something you’re not privy to,” says Chris Deren, CEO of SellMasters Inc., a Boston sales performance consulting concern. “Help them understand that what you do may help with what’s soaking up all their time.” Deren also suggests networking with colleagues, other people within the prospect’s company and others to try to get a personal feel for what your prospect may be dealing with. If nothing else, any extra insight may impress your prospect: “He may decide that you’re one of the few people that he does have time to talk to,” says Deren.”

4. I don’t see the value in what you offer.  Again, this is another misunderstanding because the customer knows that your offer does have value, they just don’t see it.  Try to sit down with them to show them how your service or product will help them.  Whether it saves them time, saves them money, keeps employees working their longer, etc.  Try to do research on the customer ahead of time to find out what’s most important to them, and then figure out what the value you’re offering can do to help.

Knowing these objections ahead of time won’t leave you tongue-tied when it comes out of your customer’s mouth.  It’s best to know the proper way to handle them to appear in a most professional manner. 

Visit us online to see the value and the time savings we offer for all of your marketing materials!

When price and value meet, earn more money

With this recession, you’ll probably notice that customers are buying less these days.  However, when people need something, they’ll still have to buy it.  The best way to get them to buy from you is to make sure that the value and price of the item or service is in balance.  Barbara Findlay Schenck, a small business author, recommends these  sales propositions to keep your sales up!

1. Value matters more than price.  Think of it this way.  Price is what you get out of the deal.  Value is what your customer gets out of the deal.  That’s more important for future business.  It’s important to advertise your value message, otherwise they’ll always go for what’s cheapest.  Do you offer same-day shipping?  Do you have customer service technicians answering the phone instead of an automated system?  Figure out what you’re best at and what unique benefits you offer.  Make sure that is the message that it sent out.

2. Not all products are price-sensitive.  Price is less important when an item is seen as valuable, rather than an item that is ready accessible and available.  If it’s one-of-a-kind and not something that you can purchase at every store known to man, then customers most likely won’t give you a hard time about what it costs.

3. Price cuts errode your bottom line.  If you are constantly slashing prices, then it’s easy for your competitor to come in and offer an even lower price.  There’s always someone out there that will offer it for less.  So instead of cutting prices, offer limited-time incentives to get customers in the door.  An example would be to lower prices if they purchase 5 of one item instead of 1, so a bulk order.  Another example is all the stores that sell their Christmas merchandise at reduced prices on December 26th.  It’s off season now, and people can stock up for next year.

4. How you present the prices matters.  Schenck offers some great tips here.  First, avoid disclaimers.  Don’t say the price is $99 with some restrictions.  Say it’s $99 if you purchase it after 4 p.m., for example.  Get rid of commas and cents.  It’s $1100, not $1,099.99.  That’s way too many numbers to look at.  Make it seem urgent.  Advertise that the deal is only good through the end of the week or for the next 48 hours.  Show them the savings.  Don’t say 1/2 off.  Say regularly $1000, now on sale for $500!!  That looks like an incredible deal.

Do you need help advertising your incredible business deals?  Visit us online for a free quote.

Market the heck out of first-time buyers

You should stop what you’re doing right now and get on the phone or visit us online to get started on your marketing campaign advertising this great news!  The U.S. Department of Housing and Urban Development has just announced that the FHA is going to allow homeowners to use the $8,000 tax credit as a down payment on a new house!  So not only are first-time buyers eligible to receive a credit when buying a home for the first time, but now they can use it as part of their down payment to drop their interest rate, or just have more cash at hand to start.

Don’t forget that this credit is not only available to regular first-time buyers.  Anyone who hasn’t owned a residence in the last three years qualifies.  And any type of home used as a primary residence, whether it be a single family detached home, condo, townhome, mobile home, co-op, etc. qualifies for this credit!  The money doesn’t have to be repaid as long as you stay in the home for at least three years.

So where are you going to start? 

-Send out an e-mail newsletter to your current database mentioning this news and ask them to forward it on to anyone they know who could be eligible.  Make sure you send a thank you gift to anyone who does refer you to somebody
-Send out a postcard campaign to an apartment complex in your area
-Mail out to your farm announcing this great development

There’s so many great ideas, and everyone who you’ve ever worked with or talked to about real estate should have some type of communication with you regarding this announcement, whether it be a phone call, e-mail, newsletter, or personal visit.  The phone call and visit are great suggestions to get in front of your sphere and influence.  If you’re trying to drum up new business, the e-mail and mailing campaigns are probably better ideas.  But it doesn’t hurt to always follow up with a phone call after!

We’re here to help with all your marketing.  We can get postcards mailed for you, draft and send out an e-newsletter, pull together lists of people to mail to, etc.  Any help you need, you got it!  Just visit us online or give us a call at 773-267-6167 to request a quote so we can get started right away! We specialize in real estate marketing and think now could not be a better time to get the word out that buyers should be buying!

Negotiate your way to a better deal

A lot of Realtors believe that when it comes time to negotiate a deal, if they don’t agree to everything the other side wants, that their clients will be at a great loss.  Fortunately for you, this is not true.  Negotiating tactics can help get your client the most for their money, or even save them money if they’re the sellers.  Jennifer Allan, a Re/Max Hall of Fame agent and author of several real estate books, offers these tips when it comes to negotiating.

1. If you are the listing agent, and the other side is in the process of finishing their home inspection, do not call the other agent asking how it went.  That could make them think that there are problems you’re hiding or are worried that something significant came up.  Let them make the call to you if they need to discuss something.  It makes you appear more confident that the inspection didn’t have any issues.

2. Most Realtors put the day the mortgage commitment is due into their calendar to call the lender or agent to make sure that approval is complete.  You shouldn’t be concerned about the buyer’s earnest money.  Wait a day or two, and then make the call.  If they don’t have the commitment done, then it’s their side who is losing their deposit.  A lot of attorneys (especially in Illinois) will even make this call for you to make sure the deal is progressing.

3. If you’re negotiating back and forth for several times a day and are unable to come to an agreement, hold off.  Especially if you are representing the seller.  Give the buyers some time to think that they could have blown the deal by not responding right away.  However, you don’t want to make them back away, either, so don’t allow this time to go for too long.  Just enough to push them into wanting the house even more.

4. Remember that you can always say no.  You don’t have to argue back and forth over a few thousand dollars.  You can always say no and say that your last offer is what stands regarding a repair issue, for example.  Who knows?  The other side may just agree to it.

5. Try to always find something to negotiate in a deal.  We’ve seen Realtors just accept contracts which makes our buyers feel that they came in too low, initially.  Even if everything looks perfect, try to ask for a tad more money for your seller or one more item included in the sale for your buyer.  Negotiating makes everyone think that they came out on top. 

Jennifer also says to always stay pleasant during these deals, even when times get tough.  You never know when you can encounter the same agent on another deal, and you want to make sure they’ll continue to work with you.  Everyone’s job is to best represent the interest of their clients, not of your own needs.

What other tips do you have when negotiating deals?  Jennifer has a few more tips here. Leave us a comment or visit us online.

Be a team player

We all know the results of great teamwork.  Take the Olympics for example.  You have the four members of a relay team competing for Olympic gold.  These four athletes rely on each other to win.  If one person drops the baton, the entire team is disqualified.  It’s important in the real estate industry to understand this concept if you’re working on a team.  And by “team,” we mean those who have one or more partners that all benefit from sales.

Dirk Zeller is the president and CEO of Real Estate Champions.  He trains agents throughout the country.  He wrote a great article on the importance of teamwork in the real estate industry. Here are some of his biggest tips:

1. Accountability.  It is so hard to know you’re being productive when you’re only accountable to yourself.  It’s so simple to say that you’ve worked enough for the day so you can now go home.  When you’re on a team, you need to be accountable to each other.  Make sure that reports are done with how many prospecting calls you made, what your time was devoted to in a given day, and how many deals were closed.  Turn these reports in and discuss them.  Changes should be made to team members who are under performing.

2. Cooperation.  A closed deal is a win for all team members involved and everyone should benefit.  It’s important that you’re all working toward one common goal.  And everyone should always be willing to help everyone else out.  You shouldn’t always assume that it’s one person’s job to take care of A, another takes care of B, etc.  While everyone has their own responsibilities, if someone needs help, a team player will always jump in to help.

3. Caring.  Caring for each other and caring for clients is key.  A great motivation for this category is to work toward a common goal, aside from making money in sales.  It might be nice if you reach a certain monetary goal that the entire team gets a vacation together or a big gift certificate to a favorite retailer.  It will motivate everyone to work harder and to support each other.   It also helps make everyone more…

4. Competitive.  While cooperation and caring are equally important, if you’re not competitive, you won’t be successful.  You should be striving to get more sales than the other agents in your office.  You should be competing to be the most helpful and giving the best service to your clients.  You want prospects to believe that you are the only team they should be calling when they have a real estate need.

Please write us a comment if you can think of other important attributes to real estate teams.  We’d love to hear them!  For help with your online marketing and client prospecting, please visit us for a quote online.

Don’t make these mistakes on the phone!

As more and more companies are struggling to stay afloat, you would think that they’d have the common sense to avoid these common mistakes on the telephone or with phone calls.  But many don’t.  These mistakes can seem so trivial to some, but could end up costing you a sale or even a client!  Watch out for these big mistakes:

1. Not calling someone back.  You could come up with every excuse in the book, like you’re waiting to get more information before you place a call, or you ran out of time, or you haven’t made a decision yet.  People will think that you don’t care or don’t have time for them.  You need to call everyone back, not just clients.  Make sure you return calls to coworkers, as well.  Even if you don’t have information, call the person to let them know you’re still waiting.  They’ll appreciate knowing that you’re still thinking about their needs.  And never call back and apologize for being busy.  Be honest and upfront.  It will help maintain a better relationship.

2. Let your voicemail get full.  It’s so frustrating to call someone only to find out their machine is no longer taking messages.  Then what are you supposed to do?  This couldn’t be more unprofessional.  Make sure if you’re unavailable to check your voicemail that someone else is taking care of it for you and recording the message in a book so it can be deleted.  Let people know when you will be returning all calls.  Devote at least an hour a day to returning calls so people know when they can expect to hear from you.

3. Not having the right tools.  Make sure you always keep a pen, pad of paper and a mirror by the phone.  Why the mirror?  It will help you know that you’re smiling when you’re speaking with customers.  You never want to take out your frustrations over the phone.  And the pen and paper are to always be ready if someone is going to give you information that needs to be written down, especially a referral!

4. Phone tag.  This happens so often.  Or people leave messages that ask to be called back to get the message instead of just leaving the information in the message.  If you notice you’re constantly playing phone tag, make sure to leave in the message the window of time when you can be reached so it doesn’t keep happening.

Some more common mistakes can be found in this great article.  What other mistakes do you notice that can help maintain better relationships?  Please leave us a comment or visit us online.

Pricing your sellers’ homes correctly

Price is one of the most important factors in getting a home sold quickly in this real estate market.  While your client might have the nicest house in their subdivision or neighborhood, if it’s not priced aggressively, buyers won’t see the value in purchasing it.  Real Estate Trainer Craig Proctor recommends having a serious price discussion with your sellers prior to listing their homes.  He says that clients will have the tendency to blame their Realtors if their home doesn’t sell, for whatever reason.  You have to do everything you can to let them know the market is at fault, not you.  So make sure to bring “proof” to every real estate listing presentation.  Here is what Craig considers to be good “proof”:

1. Prepare an effective Comparable Market Analysis (CMA).  You want to use homes that are as close to the subject property as possible.  Craig says to use “A summary page that lists 10-20 actives within the immediate area; whatever pendings that show up (it’s very important to point out that this is what the market is saying yes to at that very moment); 10 solds within the last several months or up to a max of 6 months if possible; and several expireds and withdrawns in the area (it’s important to make them aware that the wrong price caused these).” 

An additional part to the CMA should contain pictures with the property descriptions as written by their brokers.  The descriptions will help you know what features the other homes have that your subject does or doesn’t have to compare it to. 

2. Let them know that the price discussion is never over.  You want to prepare your sellers for additional meetings about the price changing in the future.  When you choose a price today, that is based on today’s data.  This data can change within hours or even minutes as houses go under contract or new ones come on the market.  In order to stay realistic and aggressive, you’ll want to compare market data every few weeks and determine if a new price needs to be chosen.  Craig suggests using this language, “Mr. and Mrs. Seller, I appreciate that you have given me the opportunity to market your home, but no matter what great programs I offer, I’m not good enough to overcome the market. I still need to price it right so at least I can attract buyers to come through the home and then offer them these programs. 90% of marketing, especially in the early weeks, is about pricing it in the right range. Now clearly I know I can negotiate the best deal for you and get you the highest net, but not if the price is scaring the buyers away from even viewing your house.”

3. You’re in charge of following up.  Your sellers will most likely not be the one to initiate another face-to-face meeting discussing the price of their home, especially if they wanted to price it high to begin with.  It’s your job to get in front of them and show them the current market data.  Make sure you bring in proof if you recommend a price reduction.  They’ll want to know what their strongest competition is. 

If your sellers are getting consistent showings without offers, it’s very likely that they’re overpriced.  No matter how the housing market is, buyers are often afraid to present a low-ball offer, even if the seller is willing to negotiate, so it’s important to be priced at market value.

For help with your real estate marketing, please visit us online.

Successful client meetings to close a sale

Craig Forte is a real estate marketing expert and has published 11 books on the subject.  He has written a great article on how bonding with clients can close more deals.  These are his tips and suggestions:

At the first meeting:

1. Make sure you smile sincerely.  Don’t offer a fake smile, but smile like you mean it while looking your clients in the eye.

2. Don’t close yourself off.  Make sure not to cross your arms over your chest, but use open body language.  Make sure  your speech isn’t too excited, either.

3. Offer a firm handshake, and make sure you acknowledge your clients by name.

Overcoming objections and questions:

This is especially true when meeting with new real estate clients.  They will be uncomfortable paying your comission, or want to list their house for higher than it’s worth.  Craig suggests:

1. Use silence.  Don’t just jump in with an answer because it could cut your client off.  By pausing, it allows you to think of your answer and show that you’re in control.

2. Use the words “I understand.”  Then paraphrase what they said by repeating it back to them.  By validating their concerns, it allows you to bond with the client. 

3. Answer their question with a question.  This really helps you get to the root of your client’s question to figure out why they’re asking it.  You’ll learn more information and be able to give them the answer they’re looking for.

Recognizing signals they’re ready to close:

Body posture, head gestures, and facial gestures are the three key items to look for aside from verbal statements made by the clients.  By tilting their head to the side, it shows that clients are interested in what you have to say.  This is the time to start selling more aggressively.  But if their head is tilted down, they’re being judgmental, so hold off on the strong selling techniques here.

Craig says that the best way to detect body signals is to practice.  Try your sales approach on a friend or relative and see how they react.  You’ll notice as they mimic your body language that they’re bonding with you and in agreement.

For more tips and help with your marketing please visit us online.

The effective Realtor listing presentation

Most Realtors are probably competing with discount brokerages during the slump of the current economy.  You’re trying to beat out Realtors charging super low commissions to clients to obtain the listing.  Real Estate Marketing Guru Craig Proctor offers extremely helpful hints in his article on an effective listing presentation.  He says that every presentation should have a beginning, middle, and end.  You want to make your prospect follow your train of thought rather than just throwing facts and figures at them.  Here are 7 of his tips:

1. Establish eye contact with everyone you’re speaking to.  If you have both a husband and wife (and always try to have all decision makers there at the same time), make sure you alternate your focus on each of them, so one doesn’t feel alienated.

2. Figure out the clues to your audience.  Some people want extreme detail on every aspect of every marketing tactic.  Others want you just to get straight to the point.  Try to figure out their personality at the beginning of your presentation.  Some good clues to help you include listening to the types of questions they ask, or by having them go through their home room by room to see how much detail they offer you on the tour.

3. Acknowledge your prospects.  Use their names when addressing them.  Don’t overdo it, but be sure to use it every once in a while to engage them in the conversation.

4. Offer your hand.  Make sure you greet and leave your prospects with a firm, warm handshake. 

5. Do not ask yes or no questions.  It’s so easy to ask them if you can come over for an appointment. What if they say no?  Instead ask, would Tuesday or Wednesday evening work better for you?  It allows them to give fuller answers.  This also helps you read their personalities better.

6. Do not speak ill of your competition by their name.  Not only does this make you look bad, but you want to focus your energy on your best features, not the other way around.  You want them to think you’re the best person for the job.  And you never know.  Make sure you have a proven marketing system that works and sell it!

7. Always focus on solving your prospect’s problems or needs.  If they need to be relocated because of a job, they need to sell their house quickly.  Make sure that’s what you are focusing on.  Choose your price based on their need.

For more tips and help customizing your listing presentation, please visit us online.