The real estate biz has come a long way from the tired practices of the 80's and 90's - but that doesn't mean it isn't without its glaring faults. Here are 15 useless real estate practices you need to ditch to be successful in 2020.
Every industry has lame practices that should’ve been dumped long ago and real estate is no exception.
Going into a new decade, let’s vow to leave these 15 useless real estate practices behind.
What value is there in marketing a service that every other agent offers?
Do you think you are the only agent asking FSBOs “Realistically, how long will you try to sell this on your own before you will list?” Go enter that phrase into Google and see how many sites are promoting its use. And, unless you’re an actor, you probably suck at scripts anyway. This is one of those useless real estate practices you can kick to the curb.
Templates are the written version of scripts. How do consumers feel about your template emails, texts and direct mail letters? “They are just basically form letters,” one homeowner told the Austin Business Journal.
It happens all the time. One agent comes up with a cool idea and is immediately copied by thousands of other agents. Even one agent copying, in the same market, is too many. Among all the useless real estate practices we’ve observed, this is one of the most offensive.
It’s a bit like plagiarism. Stealing someone else’s creativity is just wrong.
Do agents who do this think people can’t see through their agenda when they publish a blog post about why homeowners shouldn’t try to sell their homes without an agent?
In case you haven’t heard, posting your listings, ad nauseum, is annoying. Not only that, it just doesn’t get results – that’s why it ranks on this list of useless real estate practices to ditch in 2020. It’s not called “Marketing Media,” but SOCIAL media. Get social. Join pertinent groups and engage with people.
The sole purpose of your business card is to ensure that whomever receives it has your contact information. They don’t need to know that you sold a gazillion homes last year, they don’t need to know that you’re the number one producer in your office. Your name, license number, phone number and website URL are sufficient.
Pet peeve here! Website owners who don’t change the canned content that came with the site are missing so many valuable opportunities, chief among these are organic traffic and trust-building.
If you haven’t done so yet, make 2020 the year you pay attention to your site, localizing it wherever possible and using those testimonials for all they are worth.
What makes a site good? Read all about that here.
This one comes from agent Bill Gassett: “Saying your [sic] are a million-dollar producer on all your marketing material was great back in the 1980’s when homes were much less expensive and there were far fewer agents. A million dollar producer today sells 4 homes. Congratulations.”
This one drives me nuts. Come on. . .both the agent and the REALTOR are licensed professionals. The only difference is that the REALTOR works for a broker who forced her to join an association and, in some areas of the country, she couldn’t get access to the MLS without joining.
What about the Code of Ethics, you say? Is it really that much different from the fiduciary duties demanded by the U.S. legal system? No, except for those standards in NAR’s code of ethics that do more to protect the members’ commissions than protect a consumer’s interests.
And, consider this: all those shady agents who make the news are REALTORS, nine times out of 10.
Talk to me about ethics.
The reality is that a plain old real estate agent is as legally responsible to his or her client as a REALTOR. Trying to convince the public otherwise is just plain dishonest.
Besides, NAR has been trying to distinguish its members from other licensees for decades and the general public still doesn’t see any difference between the two.
This might have been ok in the past, but not today, not when the general public has access to listing descriptions. The information provided should be narrowly targeted to the home’s most likely buyer.
If you don’t have the money to market, don’t work with sellers.
Promoting preferred vendors is a great way to improve business, if it’s done correctly. Whether or not this one falls into the list of useless real estate practices depends entirely on the quality of the vendors you’re recommending. Not only should you thoroughly vet each vendor you’re considering working with, but you should also check in on how they’re performing. At least once a year, quiz your clients on how it was to work with Bob the termite guy.
These people can ruin your reputation, so it pays to keep tabs on how they’re treating your clients. Read more, here.
Agents who think they are too busy to create and adhere to a follow-up strategy are doing their business (and their pocketbook) a major disservice.
You are not a salesperson; you are a marketer. Whether a buyers’ agent or a listing agent, marketing homes to real estate consumers is the backbone of your business. Not only are you tasked with marketing homes, but marketing yourself as well.
It’s tough to get it right, so make 2020 the year you spend every minute of your online downtime reading marketing blogs. Here are a few to start you off: TheAmericanGenius.com, NeilPatel.com and Forrester.com.
Now that we’ve discussed the worst things you can do, let’s cover the best. In this video, we break down the best practices when you’re creating a landing page:
Looking for places to continue your real estate education? Take a look at these!
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Let’s boost your lead gen.
Connect your local MLS to Facebook to promote all properties in your MLS or create any specific niche catalog of listing you want to sell using dynamic Facebook ads. Here are just some of the ways you can use these new types of ads to stand apart from the competition: