How to Make Your “Millionaire Real Estate Agent” Marketing Campaigns Even Better
What readers are saying on Amazon.com about Gary Keller’s “The Millionaire Real Estate Agent”:
 Made My First Year In Real Estate a Huge Success!
The Real Deal, Can't Recommend Highly Enough
Best models and systems for Real Estate
Great Book!! Outstanding Buy for Anyone Looking to Grow Their Real Estate Business
Our new business model
 I couldn’t agree more with these reviews. I recommend this book to my clients all the time. If you haven’t already gotten your copy; use the button below to order your copy now.
If you’ve already read this book you know that its based on the real world experience of almost 100 of the top real estate agents in the U.S. It boils their experience down to a series of models that any agent can use to set realistic and achievable goals for his or her own business.
Insightful Database Models
While many more subcategories are possible in highly targeted marketing campaigns, the book simplifies our understanding of databases by focusing on just three categories:
- Unmets
- Newly Mets
- Mets
Real World Database Results Projections
A most interesting point is made that the yield from these categories is dramatically different:
- Unmet databases yield 1 transaction for every 50 names per year.
- Met databases yield 2 transactions for every 12 names per year
That’s an eight times higher yield from marketing to Mets.
Database Touch Guidance
Of course, to achieve those results it is necessary to “touch” your contacts; i.e. market to them. The book provides models for this too:
- Unmets: Touch 12 times per year
- Newly Mets: Touch 8 times in 8 weeks
- Mets: Touch 33 times per year
With these simple models you have what you need to calculate the results of your marketing campaigns. For example, lets use the following factors:
- 500 Unmets in the farm database: Yield 10 transactions
- 200 Mets (including past clients, friends, family, acquaintances): Yield 33 transactions
- Average transaction amount: $300,000
- Average commission: 2.5%
Now do you see why people get so excited about what the book has to share?
Understand Your Implementation Challenge
Most agents can keep up with their Unmet marketing. It’s only 12 batch (i.e. everyone gets the same thing at the same time) distributions per year.
The implementation challenge becomes significantly more difficult when you start marketing to Mets; that’s 33 touches a year. Met campaigns mean touching people about every 11-12 days throughout the year. This is where agents, without systems, start to fall by the wayside.
Now, if you intend to really grow your business, you’ll need to be continually adding new people to your Met database. Unfortunately, this is the level of marketing that, for agents without systems, makes the wheels fall off the bus.
You see, batch approaches simply won’t work here. Each newly met person needs to get your sequence of eight touches. The trouble is, you’ve got new people starting this sequence all the time (i.e. if you’re doing your job right). As the chart below shows, after eight weeks you’ll have eight different kinds of touches going out. When you fold in your Unmet and Met campaigns, by the 10th week it’s pretty crazy; unless you have a system.
How to Make Your MREA Strategies Work Even Better: Marketing Content Matters!
There is no question that touching people with just about anything is better than not touching them at all. However, it is very clear, from the evidence, that what you communicate with your touches can make a huge difference.
 For evidence I draw on the buyer and seller surveys published every year by the National Association of Realtors (NAR).
NAR asks buyers and sellers hundreds of questions about every aspect of their real estate experience. As a marketing consultant I am most interested in all the surveys that shed any light on:
- How buyers and sellers find their agents
- What criteria were most important in their agent selections
While the individual surveys are very enlightening, I’ve found that by combining the results of similar surveys in a spreadsheet; then doing some sorting, categorizing and number crunching even more interesting and powerful insight emerges.
To create the chart below I consolidated all the surveys that had anything to do with Agent Selection criteria. As I looked over the list I could see that the criteria primarily fell into these categories: i.e. Skill, Knowledge, Performance and Image.
Next I sorted the columns to get the issues for each category to bunch together in priority. Then I added formulas to calculate totals for each category.
The chart below shows:
- Skill, Knowledge and Performance are by far the most important things to communicate about yourself. Almost everyone uses these issues to make their agent selections.
- Knowledge is by far the most important thing to communicate.
- Image is the least import (by far) thing to communicate.
So the way I see it is; if you’re going to spend valuable time, money and energy to “touch” your market; then you should try to get the most mileage out of those touches that’s possible. Saying; “I’m terrific”; or “I’m with the best company”; or “Here’s a recipe for Crispy Treats”; just isn’t going to do much for you in the “knowledge”, “skill” and “performance” department.
You Can Do Better
  Chances are you already have an underutilized agent Web site that is chock full of good, knowledge based content; i.e. listings information, reports, tips, calculators, real estate resources, etc.
If you have Top Producer 7i you can create automated email campaigns that will repeatedly bring people back to see your knowledge content.
The very fact that you keep bringing them back to good content is a demonstration of your knowledge; it’s also a demonstration of your marketing and technology skills.
The fact that you consistently keep doing so is a demonstration of your performance.
Sure, it will take more effort to put this kind of automated relationship marketing campaign together, but the significantly improved results will be well worth it.
If you want to learn exactly how to do it; attend my Webinar:
Click here to register.
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