I was spending a leisurely lunch with a good client who mentioned that it seems like I am always taking clients out to lunch or dinner in some way shape or form.
And then I thought how important it is for all of us Unleashed listing agents to understand our markets in detail.
I have a theory that in some high-end real estate markets like San Francisco or New York, you are going to need to spend a lot more energy, time and money on marketing in a real hands-on way. This means spending more “belly-to-belly” time, holding their hands, spending more on meals, being in front of them, etc.
And in lower-end markets, maybe you can spend more money on mailings and using the internet to find a variety of clients and focus on volume.
The reason I find this to be true is that in San Francisco the clients tend to like more boutique’y real estate firms and love being coddled. And with the commissions one can earn selling $1,000,000+ homes, you have more of a budget to wine and dine and cultivate a personal relationship with your clients. They sort of demand it.
And maybe in some lower-priced home areas, it would make more sense to go for volume by doing Facebook ads, expired calling and mass mailings.
I think the takeaway here is you first have to know what type of market you are in. And then work it appropriately.
Does this make sense?
I have been selling real estate in San Francisco for over 25 years and coaching listing agents for over ten years. And this makes the most sense to me. Of course, there will be exceptions.
So determine your market and your marketing approach and let me know if you’re taking this into account.