6 Ways to Sell a Home to a Generation That Doesn’t Believe in Home Ownership

I’m a part of Gen-Y, one of the most researched generations of people in history. We are known for fighting for individuality, not trusting corporate entities with our futures and are more mobile than any previous generation by way of advancements in communication technology that lets us work anywhere in the world.

So, then, how do you sell home ownership, ownership of an immobile piece of the planet, to a 76 million strong group of people who don’t follow convention? Stop following conventional wisdom when trying to sell it to them. Conventional wisdom no longer works. We are still people though and we do still have needs.

Here are six ways to attract Gen-Y buyers to your listings and make them lifelong customers:

Appeal to Their Sense of Community

Facebook, Twitter, Google+… The list goes on. Gen-Y is completely hooked on being connected to each other and sharing their life experiences along the way.

What makes the neighborhood around your home different? What can the buyer of this home do to contribute or be a part of their community? Are there start-up workshops where they can collaborate with other small business owners to ideate and work on projects?

Stop The Kitsch, Talk About Real Lifestyle Value

With new homes especially, we write listing descriptions that are usually a laundry list of features attached to a dramatic model nameplate like “Kentshire” below. Here’s an example I received via email from a home builder who is offering an unbelievable deal on their last remaining homes:

Rather than trying to impart value through fancy sounding model names, start by talking about what actually matters. Instead of listing off features, talk about how guests never need to go upstairs because there is a powder room centrally located between entertainment areas.

Is there high-speed internet available for people who work from home? If so, what different plans are offered in this neighborhood?

Can I walk to get takeout on a summer night or is driving always required?

Make The Investment Value of Your Listing More Obvious

“What can this home do for me?” That’s the question your Gen-Y buyers are going to be asking themselves before they buy. It’s no longer enough to be a place to rest our heads. Now that we see home ownership as a long-term engagement, how can this home evolve with me over my lifetime?

The best way to expound on this idea is to include projected home value over the next 5, 10 and 15 years. Altos Research, Zillow and Real Yields all help make this possible.

I really like Real Yields, co-founded by real estate investment extraordinaire Ryan Hinricher, because it makes it effortless to put your buyer in the real estate investment driver’s seat without a huge learning curve.

If your buyers can find a reason to own a home that isn’t just tied to the facade of the American dream, they’ll be much more likely to invest in one.

Become The Lifelong Advisor

The days of the one-time customer are over. Sites like Zillow and Trulia encourage agent reviews so today and tomorrow’s home buyers can make informed decisions about who they use to buy a home.

To earn the business of the next generation, the generation that determines your business trustworthiness based on the opinions of others, you need to elevate your game.

Work with other industry professionals (mortgage, law etc.) to build live, in-person and web-based seminars to help your clients grow their real estate knowledge and make better decisions about their financial investments. Imagine the business growth you’ll experience once you have a network of 15 – 20 homeowners turned savvy investors in your area.

Sell To Your Own Needs

Given the rough real estate market these days, it’s a challenge to sell a home in most markets. It’s significantly harder to sell a lifestyle and home if you don’t believe in it or live it yourself.

If you’re out in suburbia but would rather sell condos in the city, save up and make the move. You’ll have infinitely more success uncovering neighborhoods and selling homes you are passionate about than lugging yourself through rows of suburban center hall colonials that don’t interest you. When you love what you do your passion will shine through and your clients will want to work with you even more because of it.

Take Great Pictures

I left this one for last because it resonates with me most. Gen-Y grew up around and continues to use photo sharing services like Flickr, Instagram, Dribbble and Facebook. We love pictures. We also love to research which means we’re starting our searches online before we reach out to an agent. How do you engage a prospect who is researching and loves great pictures? Great pictures, of course.

The path to quality listing photos is clear: Hire a reputable home stager and a professional home photographer, combined with compelling copy (see point #2) and you’ll have a surefire way of connecting with the next generation of home buyers.

Photos also have the added bonus of being very shareable on social networks. Steph Davis, Corcoran Group NYC, shared a photo of one of her listings as she waited for a client to arrive to show the property (shown below.)

Although I don’t have the means or reason to live in the city, if I did you can bet I would have reached out to Steph to learn more about this property.

What are some ways you have successfully connected with home buyers?

 

Image Credits: Photo #1 – Robert Scoble | Photo #4 – VancouverFilmSchool

How-To Quickly Build and Manage Your Online Reputation

Building and managing your reputation online can be puzzling. There are many networking sites, blogs, micro-blogs, property listings sites, bookmarks, and more. This leaves many real estate professionals wondering how they can manage all of these sites and portals at one time. The answer? You can’t. There simply isn’t enough time to be hyper-connected and do a significant amount of real estate business at the same time.

So what’s a real estate professional to do? The new goal? Create profiles where the majority of people are; Facebook, Twitter, Linkedin, and maybe a few others. Then build a consistent online reputation through meaningful interactions. Continue to manage your online reputation and monitor it effectively. Well, if only it were that easy. Of course that’s what the social media gurus and ninjas will have you believing. Let’s take a closer at the fundamentals which you can control.

1.  Go where the people already are

Your goal is to set up online profiles at the sites where the majority of people already are. Avoid the start up social media sites, for now.  Focus on the big 3; Facebook, Twitter, and Linkedin. These sites have over 400million people on them. Why chase rainbows with all the new startups? You simply don’t have time. Focus on your own site or blog and where the majority of people already are.

2.  Use a semi-professional photo

Don’t do the old suit-and-tie gig. There are simply too many of these already. You need to be different, but not different to the point people think you are too strange to do business with. See my sample photo on the top right of this post. Look casual, confident, and relaxed. Find a bright setting and make sure people can clearly see your face. Your goal is to earn trust and not look “salesy”.

3.   Build a consistent profile across all channels

Having a consistent profile is key. People, including potential customers and your peers, will start to recognize you online in various places which will build trust over time. This makes your online presence more reputable. Consistency is king when managing your reputation online and in the trust game.  Use a similar profile description on these channels. Condense the same profile for Twitter’s 140 characters.

Samples of Consistency:

Sample Facebook Profile

Sample Linkedin Profile

Sample Twitter Profile

4.  Be professional.

I wish there was s stronger way to say “be professional”. I was sitting down for coffee with my friend, Chris Clothier yesterday. He told me when he’s discussing social media with people he often asks them if they are playing Mafia Wars or growing tomatoes on their farms within Facebook. If the answer is yes, he tells them their level of professionalism and trust has been impacted. Being professional is more than image. It’s the way you communicate with people. Make sure your email etiquette is strong and that you appropriately respond to people using concise points and properly using the “cc” and “bcc” fields. Lisa Harmon recommended me the book dedicated to email etiquette, “Send” by David Shipley which I feel is a must for any real estate professional.

5. Focus on having meaningful interactions

While I won’t go into social media and how to Tweet, Linkedin, or Facebook with people, I will summarize this point into a simple phrase, “Focus on having meaningful interactions.” In doing so, the rest falls into place. Don’t worry about making sales, number of followers, clicks, links, etc. By connecting with our clients, prospects, and colleagues and adding value to their lives and interacting in a meaningful way, everything will fall into place.

6. Effectively Monitor Your Online Reputation

With Google moving to real-time search the management of your online reputation has been simplified greatly with the Google Alerts system. With this one can quickly set up automated alerts which will be sent via email when your name, business name, or web URL is mentioned online somewhere. You can even get these set to be emailed to you as they happen.

With Google Alerts you can choose if you want these alerts set up for real time, a daily digest, or a weekly digest. This is critical, especially when you start producing content. Google Alerts came in handy when a disgruntled ex-business partner used online media to say something negative about me in an erroneous article. I immediately received an alert. This alert allowed me to comment on the article and at least offer my stand point. In this way, managing your reputation online can be just as crucial as building it.

Building and managing your online reputation doesn’t take social media expertise and technology skills. With today’s tools, you can easily set up a consistent and professional profile across multiple channels. Worrying about what others say about you can be automated, leaving you with more time to focus on connecting and having meaningful interactions.

iPhone App Review: Gary Vaynerchuk’s Crush It! Vook

A Vook™ is a video book created by Bradley Inman’s new company of the same name. So far my experience with “vooks” is limited to their iPhone app “Crush It! Vook” which is essentially Gary Vaynerchuk’s newest book in digital form and stacked with 13 videos (one for each chapter in the book) of @garyvee in action.

The physical “Crush It!” book sells for less than $15 on Amazon.com and is well worth buying. It’s a quick read (160 pages) covering topics ranging from building a personal brand, how to use social media to build a brand, discovering your passion and life lessons from Gary Vaynerchuk. I read the book once and then proceeded to re-read it immediately after.

So the book is good. But are 13 videos and the Crush It! digital book wrapped up in an iPhone app really worth $6.99?

In one word, absolutely. Having read an entire book using my iPhone in the past though, I highly recommend using the app as more of a companion to the physical book as opposed to a replacement. Reading on the iPhone screen can be very tedious.

Let’s dive into the app:

Crush It Vook Loading Screen

The vook takes about 10 seconds to load before presenting you with the Table of Contents for the digital book. Choose a chapter to start reading or choose a chapter and tap the top of the screen and you’ll presented with three options: Go back to the Table of Contents, Previous/Next Chapter arrows and change the font size (three levels).

Chapter One

Along the bottom menu you can select the ‘Watch’ button to see just the videos in the application in addition to ‘Connect’ and ‘About’ which we’ll talk about in a bit.

Table of Contents For Videos

Each video is about 60 – 90 seconds long. The videos, though brief, build off of each chapter in the book and explains more about the subject by offering tons of useful insight from Gary Vaynerchuk and others. Video quality is pretty good and you have the option of double tapping the screen to get rid of the black bars below (zooms in to full screen video).

Gary Vaynerchuk In Action

Finally, you have two more features in the app: a ‘Connect’ page which gives you a profile of the author, filmmaker (in this case Lauren Saffa) and more contact info for Gary Vaynerchuk, his publisher and Vook. The ‘About’ page is similar to the content you would find inside the book sleeve and credits for the production of the vook.

About Gary Vaynerchuk

If I had to offer one negative I would say that the book portion of the app needs work. Amazon’s iPhone Kindle app offers a significantly better user experience in the sense that you can tailor your reading experience more to your needs with the Kindle app versus Vook’s built-in reader.

For example, with the Kindle app you can rotate your iPhone to landscape (widescreen) mode to read that way. Also, if you close the Kindle app it will re-open to the last page where you left off before closing the app. The Vook reader doesn’t support landscape mode nor does it save where you last left off before closing the app.

There’s a lot real estate agents (and brokers) could learn from someone like Gary Vaynerchuk. Many people in our profession are so entrenched in the old way of doing things (gate keeping and the like) that personal branding and proving that you care will go a long way in getting more clients and repeat business.

Buy the Crush It! Vook on iTunes

Photo Credit: magerleagues

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Monday Q&A: What Is A Premium WordPress Theme?

The popularity of WordPress spawned a significant number of free website designs, also known as themes, over the past couple of years. Because the designs were free they were also used heavily throughout the community which created a sort of design monotony among WordPress sites. The lack of technical support coupled with infrequent bug fixes for freebie themes sent webmasters in search of a better solution.

Before premium themes your only other styling option was to hire a designer and coder to give your site a custom look all its own. Though certainly worth the cost of admission, custom designs can be cost prohibitive with total project costs upwards of $2,000 or more depending on your level of customization. On to today’s question…

Question:

“What is a premium WordPress theme?”

Answer:

A premium WordPress theme fills the void between freebie themes and custom design work by providing a high quality, super affordable and often ready-to-use website design for less than $100. At this price point it’s affordable to experiment with different site designs and color schemes for your website. There are a few points to consider before buying a premium theme including:

  • How will you use your site? For business blogs or real estate websites running WordPress as a CMS you’ll definitely want to go custom or with a premium theme. Free themes are acceptable for personal blogs but reflect poorly on your business because it shows that you tried to build your website as inexpensively as possible. This could project the idea that you cut corners wherever possible to save money which is NOT the story you want your website to tell!
  • What type of content will you be posting (video, podcasts, written articles)? Some premium themes are built around a specific niche (band pages or brochure websites) so you’ll want to make sure your premium theme supports the content you’re looking to publish.
  • Does the premium theme company support its products well? I’ve seen some beautiful WordPress themes out there where the developer only releases one or two updates or none at all to fix bugs that could cause your premium theme to be unusable. Rule of thumb: An active support forum and quick bug fixes are signs of a well supported product. Look for change logs that show what changes have been made under each version number.

A great way to research company support and customer satisfaction is to use Twitter search. When Twitter users are happy or mad about a product they almost always tweet about it. Use Twitter search to find out about their experiences so you can have more control over your experience.

Do you use a premium WordPress theme on your site? Have any theme clubs that you prefer?

3 Things You Must Know Before Uploading Real Estate Videos

If you were a good boy or girl in 2009 chances are you received a Flip HD camera before the holidays drew to a close. Flips are great because they’re small, record in HD and can be used to record listing walkthroughs and neighborhood tours.

Now that you’re equipped to start shooting video for your listings there are a few things that you need to keep in mind before shooting your first video. Camera? Check. List of video shots needed? Check. Video host that won’t delete your videos after you’ve uploaded them? Che– wait, what? Yeeeeaaahhh.

1. Read each video host’s terms of use policy. - Wellcome Mat was designed for real estate videos so you don’t have to worry much about their terms of use policy. Vimeo, on the other hand, wants nothing to do with real estate video walkthroughs and explicitly forbids them (even if you pay for Vimeo Plus, their premium video hosting service.) Real estate is a commercial use and will be seen as such by video hosts.

2. Understand what you’re getting before you sign up for a paid service. - In some instances a paid service would be ideal for your needs. Wellcome Mat offers an ad-free HD video service for $25 per month with no obvious bandwidth limitation.

Viddler offers a similar service for $100/month but charges you if you exceed your pre-set bandwidth maximum of 50 GB. In other words, if you surpass 5,000 views of a 3-minute video each month you’ll have to pay an overage charge of $1.00 per GB up to 150 GB of overage.

One perk I really like about Wellcome Mat is their Pro account feature that allows you to create MLS-compliant videos (read: no agent contact info or branding). This is a very niche market feature for agents and a great point for a listing presentation.

3. Choose your video host carefully because your choice will reflect on your brand. - What’s the first thing that comes to mind when you think of YouTube? Free? Evolution of Dance? Professional?

When you’re going in for a listing appointment trying to win a client who will be paying you tens of thousands of dollars for your services (co-broke and your broker split aside) you won’t be establishing value by telling them that you plan to use the same free video service their kids use to opine about the latest Twilight sequel.

Unbranded video services will give you the upper hand on the cheapo competition and better control over where your video is presented. That doesn’t mean that you can’t syndicate your video to YouTube for widest possible coverage but it shouldn’t serve as your primary source of video hosting.

Your real estate videos are a visible indicator of your service quality so you should strive to convey an image of professionalism at every turn.

Have you used a video hosting service that you love? What do you think about real estate videos on YouTube?

Photo Credit: Jakob Montrasio

Launching December 28th!

Get ready, we’re launching on December 28th! :)