How to gain traction and your veteran status

By Elyse Umlauf-Garneau

A changing market tests the mettle and creativity of even the most seasoned real estate practitioners. Some of them—who have endured earlier downturns—offer survival strategies to newbies who may have experienced only “go-go” times.  

Blog Cooperatively 

If you’re not blogging, choose a niche and get started, recommends John Lockwood, of Elite Properties. Lockwood’s blog, active since 2003, is the first to pop up when you type in “Sacramento real estate” in Google, and that top spot helps him generate new prospects. He and others, like Kevin Boer, 3 Oceans Real Estate, Menlo Park, also include guest bloggers. “It makes your blog more diverse and gives readers different points of view,” says Lockwood. Chris Iverson of Keller Williams Realty, Palo Alto, has been in the business for two years, and blogging on Boer’s site has brought new clients and leads and has helped him build credibility quickly. It’s also generated several media interviews. “Blogging is opportunity for me to show that I know what I’m talking about, despite being fairly new to the business,” Iverson says. Boer points out that staying at the top of Google requires constantly generating new content; strong guest writers ease his writing burden, without sacrificing new content or a top Google spot. Boer and Iverson view the blog as a critical business tool that routinely delivers new clients who frequently choose them based on what they’ve read at the blog. Boer’s advice: deliver fresh, compelling local content, and blog diligently and consistently. 

MySpace Conversions 

Try a twist on the time-honored marketing strategy of zeroing in on what drives people to your market. Bob Hesse, managing broker of Distinctive Coast Properties, San Clemente, knows surfers are drawn to his region. To target such buyers, one agent established a MySpace page about the company and is building links to other surfers’ MySpace pages. The hope is that surfers-turned-buyers will consider Distinctive Coast Properties when they’re looking for houses with quick ocean access. “We’ll become friends of theirs and they’ll become friends of ours,” comments Hesse. The concept is new so there’s no data to indicate its success yet. Use the idea as a starting point for your business. For instance, do you have a listing with a guest cottage that would work as an art studio? Perhaps target local and regional arts groups to snag a buyer. Or such a property would be ideal for a senior who wants caretakers to have separate living quarters. 

Hire a Coach 

Practitioners often turn to coaches when they’ve reached a plateau, business is floundering, or they need new direction and motivation. For many, that time is now. Others, like Susan Harrold, senior executive associate of Lyon Real Estate, Sacramento, just want to make the most of a challenging market. Harrold has been a successful practitioner for the last 30 years, but Sacramento is a tough market right now. “I want to be sure I’m doing everything I can to capture all the business possible,” she comments.

Her coach is helping her develop a plan to reconnect with past clients and everyone in her database. The goal: drum up referrals. Her current assignment: making five personal calls, writing five personal notes, and making two “pop-by visits” to past clients each day. For insight on choosing coaches, see “Coaches Corner” (www.car.org/index.php?id=Mzc1Njc=). 

Rebuilding those personal connections is a return to some of the traditional ways of managing the real estate business—something Hesse welcomes. He’s encouraging agents to embrace one business basic: meeting people face-to-face on a daily basis at open houses, in the office, and at cafes. “The push has to be a search for buyers and referrals,” he says. 

Tap New Demographics 

Just take a look at some high-end homes publications, such as duPont Registry and Unique Homes, and you’ll find a plethora of upscale properties for sale. One theory goes that there’s always a group of elites with disposable income, who frequently buy second, third, and fourth homes. Particularly if you’re in a vacation area, consider developing an expertise in luxury and second homes and building referrals in that niche. One way to get a start is by earning the Certified Luxury Home Marketing Specialist designation offered by the Institute for Luxury Home Marketing (www.luxuryhomemarketing.com). 

Another demographic group to consider—one with ties to second and luxury home purchases—is baby boomers. The group is 78 million strong and a good portion has disposable income. Moreover, nearly all baby boomers view homeownership as a good financial investment, according to a 2006 NATIONAL ASSOCIATION OF REALTORS® survey conducted by Harris Interactive. It also indicates that they’re proportionately more active in the second home market, owning 57 percent of all vacation/seasonal homes and 58 percent of rental property. Gain perspective on boomers and training to service 55-plus clientele through Seniors Real Estate Specialists (SRES®)  (www.sres.org).  

Take a Break? 

January Yahoo! story addressed practitioners who have thrown up their hands and decided to exit the business. One cited upfront costs, marketing, association fees, and difficulty building crucial contacts among reasons for his departure. Though you can keep your license current and take continuing education classes, going part-time isn’t smart, believes Hesse. This market requires more hours and harder work—not a reduction—for people to succeed, he believes. “I’m telling my agents, ‘If you’ve been working 60 hours per week, you’ll have to work 70 hours per week.’”

Elyse Umlauf-Garneau is a freelance real estate writer.