The biggest tip I have for attracting relocation buyers is in a single word: relationships. Relocation buyers come from multiple sources (referrals, online searches, national portals, social media, etc.). To tap into these sources you need to begin to build relationships with potential buyers (and other agents) via the cross-channels available to you.
The key to sales sometimes is attraction, not necessarily promotion, particularly in relationship building. In other words, you must attract others to you by giving solid educational material that is helpful worthy of sharing with others (Can anyone say “viral?”).
Some recommended ideas on this line would be to add a “Relocation” tab to the navigation on your blog or website with some additional pull downs offering things like “Moving Tips,” “Moving Tips with Pets” and “Packing Tips,” among others, as well as a “Corporate Relocation” tab with a list of some of the major corporations in your area. Creating some videos about relocation that offers advice on what to watch out for would be another great way to educate your potential buyers and attract them to you (answer some of their most common FAQ’s, etc.).
One key element of building the relationship with relocation buyers is with list building. This is critical to your future follow up. When you do offer a free e-Book, report or even have a call to action tab with a form for a buyer to fill out with their wants and needs when relocating on your site, this is building your list. However, (this part is critical) you must have a “backend” funnel prepared in advance to walk your potential buyer through.
Let’s face it, just as I always say, “The fortune is in the follow up!” So before you go out and attract dozens of buyers, let me encourage you to build your follow up email and planned follow up call series up front. If you don’t, trust me, what’s going to happen is you’re going to get so busy being busy it will get shelved and you will miss out on all those buyers you could have had on automated follow up being cultivated for future business.
This is one of the most common pitfalls of marketing.
In my opinion, the funnel must provide educational material (items of value) – not just buy from me or why you’re the best to buy from ego driven nonsense we all get caught up in many times. The fact is, buyers are only tuned into WIFM (What’s In It For Me) and unless we provide something of extreme value pertinent to their situation or needs, they’re going to wear out the delete key getting rid of us. Giving creates relationships and consistent timed interval follow up responses create top of mind consciousness.
What National Association Of Realtors (NAR) Says Relocation Buyers
I was curious about some of the statistical profile data of buyers and sellers, so I hopped over to the National Association of Realtors annual reports and did some research on this subject. I was trying to find out how many relocation buyers actually come directly from a relocation company. Here are the results: only 2 percent of buyers occasionally turn to a relocation company, 1 percent of buyers frequently use one and the rest didn’t at all.
Hmmm… is that lower or higher than what you thought? I did find it surprising this percentage came close to matching the percentage of buyers using television or a billboard as a source of information. However, what was not surprising to me, was the number of buyers (whether relocating or not) started their search online – it was 88 percent (this was down 2 percent from the previous year, not sure why exactly).
It’s possible that more repeats and referrals since the agents still left conducting business are full-time professionals versus the part-time weekend warriors who have exited stage left since the market turned? There is an overlap though, another possible supporting piece to that theory. Buyers who used real estate agents and brokers as their primary source came in at a full 87 percent, clearly indicating an overlap.
Either way, we can conclusively say relocation buyers go online to search for homes supporting the need to have a major online presence and offer up-front education to the relocation buyer (which begins the building process of the relationship). It is also wise to connect with your peers via social media (LinkedIn [join some groups!], Facebook, Twitter, Blogs, etc.) when attempting to build relationships and cultivate referrals from them of those wonderful relocation buyers.
Have a great day and remember to never forget, “You’re worth it!”
About Joe Martin
Joe is a national columnist, advanced REO trainer, marketing / social media marketing expert & Broker/Co-Owner of RE/MAX Diamond servicing the Phoenix Metropolitan area. He leads the Top 100 RE/MAX Team in the World (2009/2011), has sold over 1500 homes since 2008, was inducted into the RE/MAX Lifetime Achievement Hall of Fame & has repeatedly won the coveted Diamond & Chairman’s Level Top Producer Achievement Awards. Joe has served on the Board of Directors for HAREP, is an active member of NAREB, NAHREP & AAREA and carries multiple REO certifications & industry designations, including the highly sought after membership in the National REO Brokers Association and Wall Street Journal’s List of Top 400 Real Estate Professionals. In 2010 he was a speaker/panelist at the default industries renowned Five Star Default conference in Dallas, Texas and also serves as a charter member of the 5-Star Federation of REO Certified Experts (FORCE). Joe loves helping others achieve success, is involved in community charities including Make-A-Wish, Children’s Miracle Network, Room For Joy and the Boys & Girls Clubs of America. He enjoys sharing that “Happiness is a Product of Forgiveness” and helping others realize they are truly “worth it!”. He also loves reading, writing, speaking, training, marketing, boating, walks on the beach, majestic sunsets, listening to the waves roll in and scuba diving.