Tag Archives: real estate

5 Things Entrepreneurs Can Learn from Rio’s Preparation for the Olympics

The summer Olympics will commence this week in Rio de Janeiro, but the road to the opening ceremony has not been an easy one, with multiple problems plaguing both the city as well as the country of Brazil. What lessons can entrepreneurs learn from Rio’s preparation for the Olympics?

Some events are beyond our control. When Brazil was awarded the opportunity to host the 2016 summer Olympics in 2009, their economy was flush and their property values were some of the highest in the world. After seven years of political, financial, and pandemic health disasters, scores of hotels and high rises that were built in anticipation of a surging economy now stand empty. Like the U.S. housing bust of 2008, Rio is a reminder to business professionals that unforeseen events can sometimes change the market drastically.

Stay on top of economic trends

Officials in Brazil may not have been able to predict all of the country’s financial downturns, but a successful entrepreneur needs to stay on top of the market’s economic trends.

Don’t take shortcuts

Due to poor workmanship and inadequate inspections, Rio’s Olympic Village has been plagued with faulty wiring and bad plumbing, making it almost unlivable for the world’s athletes. When it comes to managing your own business, taking shortcuts is almost never a good idea. Although taking shortcuts or only covering the bare minimum may save time and money, it could also ultimately deliver negative results and the potential loss of a client.

Don’t make promises you can’t keep

From rising crime, polluted water, and lack of transportation, it seems that everything that could go wrong before the Olympics has done so. Although many of the problems are reported to have been resolved, some solutions appear to be makeshift at best. Like Rio, where Olympic ticket sales are at an all-time low, for an entrepreneur, reputation is everything: More broken promises means less sales.

Marketing matters

Whether an entrepreneur is up-selling the benefits and features of their products or services on social media or attending networking events, without positive visibility, they would have no business. In the same way, Brazil officials have been attempting to counter recent bad publicity and low ticket sales with positive press releases about how low the risk of contracting the Zika virus while visiting Rio actually is, and the successful completion of the city’s transportation system. Whether or not this strategy will work to increase attendance at the 2016 summer Olympics remains to be seen.

Sources: New York Times, Wall Street Journal, Placester, Insider Louisville, Linkedin

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Make the holidays happy for your business

While the competition makes merry, smart agents are making money. If recent history is any guide, more than $3 billion in real estate commissions will be generated nationally during the year’s fourth quarter.

Stymied by owners who don’t want their homes on the market during the holidays? Tim and Julie Harris of Real Estate Coaching Radio have the answers for sellers’ objections. Among their points in a recent broadcast:

◼ Sellers can expect fewer showings during the holiday months, but better showings. The buyers out at this time of year are committed and qualified.

◼ There’s less competition from other homes. Julie notes that even houses with “challenges” will sell in the fourth quarter, when inventory is limited.

◼ Most homes look their best for the holidays. Seasonal decorating “takes staging to an entirely different level,” Tim says.

Listen to Tim and Julie online for more great “Holiday Objection Handlers.”

Click here to find the audio

Beyond dealing with objections, Tim emphasizes that agents must look open for holiday business if they’re going to get any. “You don’t need to be telling folks that you have limited hours this time of year,” he says, warning agents to avoid making it sound as if they’re off for the winter through voice- mails or a website calendar.

And for goodness’ sake, don’t catch “SAD,” Seasonal Advertising Disorder. If your listings aren’t advertised with Homes & Land, you may miss out on your share of that holiday pie.

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How to be everywhere, all the time

Multi-channel, omni-channel, whatever you call the current approach to marketing, the basic idea is the same. You need to reach homebuyers and sellers wherever and whenever they’re looking, and listing prospects want to know that’s what you’re doing.

“From websites and email, to social media and print, every channel presents an opportunity to market,” explains Adweek’s SocialTimes blog.

That’s a lot of channels to cover, and each has its pros and cons. Digital is great for immediacy and reach, while printed ads and content seem to be easier for consumers to process and better for brand recall.

Author and science-based marketing expert Roger Dooley sums up recent research in a Forbes post titled “Paper Beats Digital in Many Ways, According to Neuroscience.”

“Despite the enormous migration to electronic media, neuroscience research shows that paper-based content and ads offer special advantages in connecting with our brains.”

Dooley continues: “Rather than an all-digital world, it appears that a multi-channel approach that leverages the unique benefits of paper with the convenience and accessibility of digital will perform best.”

The channels work together, with print feeding digital and digital enhancing print.

Your magazine ad gets potential clients’ attention, then can lead them online to your listings or prompt them to text for more photos and info. Each text also generates a lead for you.

“Where we’ve had a great print product, with a smart free distribution model, we have seen a fantastic halo effect upon our digital metrics,” Justin Etheridge, executive vice president of entertainment guide Time Out North America, recently told the Chicago Tribune. The company’s Chicago publication returned to print this fall after a two-year digital-only hiatus.

Homes & Land gives you that great print product with a smart distribution model, along with a presence on more than 20 websites, social media tools, virtual tours, featured online listings, permanent text codes for advertised properties and more.

Multi-channel? You’ve got it covered.

For more on getting the most from Homes & Land, contact your Publisher.

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Ask for just 5 minutes

Real estate trainer Jared James takes on the task of converting seller leads in a recent post for RealtorMag. Among his three suggestions to help you get in the door with a hesitant homeowner: Ask for 5 minutes. The time limitation reassures the homeowner that you won’t eat up much of his time, and there’s no big commitment.

Jared starts the conversation: “Would you be offended if I came by to do a quick five-minute onsite price consultation?” Get the homeowner interested by explaining that automated online estimates are often inaccurate. A local agent will know better.

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Give a little, with a flourish

Reciprocity is something you don’t have to explain to people. They just get the idea of mutual exchange. According to a blog post from marketing and sales software company HubSpot:

“One study found that when waiters gave customers a complimentary mint, their tip increased 3 percent. Giving two mints saw a 14 percent increase. When the waiter left one mint, then turned around and said, ‘But for you nice people, here’s another mint,’ his tip increased by 23 percent.”

The blog’s conclusion: “Going above and beyond for your prospects — especially with a bit of theater — will make them want to help you if they can.”

As a Realtor, what’s your mint? Small gifts like magnets or calendars are nice, but a gift doesn’t have to be material. One sincere compliment can go a long way, and good information and outstanding service are most always appreciated.

Read more about “18 Tricks to Convince Prospects to Buy”

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