Use your MLS system to maximize your sphere of influence

I had a recent chat with an agent out East who shared an easy to implement and very clever strategy for using your MLS system’s auto updating capabilities to maximize your profits.

The majority of MLS systems can put prospective buyers into a “drip system” which generate automated email updates with relevant information and current local listings that match the buyer’s requirements. It’s a straightforward tool, and keeps you in front of your buyers with branded information.

Drip campaigns are superb for buyers as they incubate leads, mature prospects and help you serve clients at a much higher level. But the implications are much farther reaching.

Let’s spin this tool and stretch its capabilities!

Mull over the idea of including your sellers into the system too. When you take on a listing, indicate to your sellers that every time a new listing in the area comes on the market you will send them an email with comprehensive listing information.

By making your sellers aware of new listings, they become in-tune with what amounts to be their “competition.” Your sellers will continually see all the properties that represent competition, and potential comparables.

“How does this benefit me and increase my profits?” you ask…

By plugging your sellers into this automated system, it will position you for smoother price reductions. These updates have the ability to work so well, don’t be surprised if you have some clients calling you saying “Well, based on our ‘competition’ we would like to consider a price adjustment.”

However, even if you don’t have clients contacting you initiating price adjustments, you still have the advantage that now when you need to discuss a price reduction, the negotiations become more objective and less challenging.

Pretty cool, huh? Not only are drip campaigns an efficient buyer incubating tool, they also emerge as an easy price reduction tool, too!

Now, let’s round out the strategy…

You want to be known as your “local real estate expert” right? You can expand this updating service and use it to stay in touch with your sphere of influence.

Picture this…

Anyone you call, email, snail mail, or place advertisements in front of, offer to update them with new listings that come on the market in their desired neighborhood(s). Plug them into your MLS updating service, select the neighborhoods they’d like to stay informed about, and let your MLS system stay in touch with them, using the email updating service.

This seemingly simple action has fantastic benefits! Firstly, your branded messaging keeps you first and foremost in your clients’ minds. Secondly, it positions you as the “neighborhood expert.”

Don’t you love it when such an easy action can have such far reaching benefits! It’s a simple tool that takes about 3 minutes per client, and is effective with past clients or prospects. Once they’re entered in your drip campaign, you’re in front of them until they buy, sell, move across country or die. Better yet, it’s all automated with information they want, and with information that brands YOU as the expert.

In a nutshell,

•  Update your buyers quickly and easily
•  Position your listings for easy price reductions
• Stay in touch with past clients and your sphere of influence with relevant, valuable information that brands you as the neighborhood expert

Isn’t that awesome?

 Your Favorite REVA!
Kathy

Kathy Goldman
Assistance For Agents
…where “location” finally doesn’t matter!
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