Mercedes Santiago, Marketing Coordinator at MoxiWorks | March 24, 2020
It’s a time of global uncertainty, due to COVID-19, the epidemic that has disrupted the world. We’ve seen the anxiety-inducing statistics on job uncertainty, food scarcity, deaths, and more. The combination of it all is showing us the true magnitude of the current state of our world. While we’re not sure of what’s to come for certain, we know as a community we must jump in and help where we can.
“The greatness of a community is most accurately measured by the compassionate actions of its members.”
– Coretta Scott King
Real estate brokers are an integral part of their communities and experts in the residents, businesses, and structures that make a neighborhood ‘home.’ As such, brokers and their agents are poised to be great community leaders and supporters during this time. We’ve put together a list of recommendations and want to hear from you as well!
1. Support local restaurants
Seattle streets are much quieter these days for obvious reasons, with one of them being the empty tables in restaurants — a trend fast occurring across the country. We know we can’t dine-in, but don’t forget that many restaurants are offering take out, and it’s essential to their survival. Support your community by ordering takeout.
Fun idea: Virtually cater for your agents! Let all agents order lunch on you for company moral! Share your support on social media to encourage others to follow in your footsteps! Not only can you promote positivity and camaraderie amongst your company, you continue to support your market’s economy.
2. Check in with your neighbors
These times are difficult for many, physically and mentally. You could be struggling personally to care for someone who’s been infected with COVID-19. Or, perhaps you’ve upended your day-to-day routine and are now working from home. Especially difficult, maybe you’re self-isolating due to a pre-existing condition and feel uncertain about your safety. While we shouldn’t be physically close to each other, with technology we have the ability to all stay connected. Even from miles away, what you post online has the ability to shift someone’s mindset on the situation. Let’s keep content optimistic, light-hearted, and inspiring to keep our mental states up high.
Fun idea: check-in with your partner businesses like mortgage lenders, moving companies, or home repair persons and share each other’s stories.
3. Reach out to nonprofits
Many nonprofits around your city are constantly providing shelter, food, and support for members of your community — even during pandemics that close other public places. Call around to local nonprofits and decide who needs what most. In our current situation, these groups are running out of food to distribute. Feeding our community and staying healthy is important for us to move past this.
4. Help seniors who are most at risk
It’s a fact that older people and people with pre-existing health conditions are most vulnerable to COVID-19. There are multiple things we can do to keep this group of people healthy and safe.
- Grab groceries for those who are at risk or those that are shut-in. Drop the groceries off at their door to keep your distance.
- Facetime self-quarantined individuals to keep them socialized and less lonely
- No tech? Start a letter-writing campaign to individuals in nursing facilities who can’t visit their friends and loved-ones face to face currently.
Now is the time to think outside your office walls and see how you can help your community.
Together we can accomplish so much more than we can alone.
Advertise Your Listing is a newly launched Facebook Ad tool from MoxiWorks that allows agents who just won a listing to create a Facebook ad for said listing with ease. By ease, we mean in three steps and typically in less than five minutes. Advertise Your Listing helps you impress your clients, stay competitive, win more business, and generate more repeat and referral business.
Advertise Your Listing also sends reports directly to your clients. These reports are automatic and help in showcasing you as the trusted advisors you are, without taking up more hours in the day. The best part? Agents don’t need a Facebook Page to run ads. Tie your business page or keep your personal, personal. Either way you can use Advertise Your Listing and win more listing presentations, prove value to your client, and make yourself visible to your farm.
Here’s a quick list of some of the many reasons Advertise Your Listing can up your marketing game:
- It helps you win listings by showing potential sellers how you’ll be promoting their home
- Demonstrates to potential sellers your digital savviness
- Can automatically send a report to your seller showing how many people have seen the ad for their home
- By increasing client satisfaction, you earn more repeat and referral business
- Makes you visible in the neighborhood, potentially generating leads for you
- Each ad is typically seen by thousands of people
- Shows the people in your area you have active listings
- Proves to your seller you are working hard for them to earn your commission
- By showing past ad campaign performances in your listing presentation, you can demonstrate that you can promote their home to thousands of people
- The ads include your Facebook business page, potentially driving many people to your page
We’ve been hearing feedback from agents and thought we’d share one of our favorites from Frankie Hagan, a stellar agent based out of the Fonville Morisey (a Long & Foster Company) office in Raleigh, North Carolina. Here’s what he had to say about it:
Agents love Advertise Your Listing because it gets more eyes on their listings, positions them as marketing pros, and allows them to spend more time on doing what they do best: sell.
You can now start reaching more of the 2 billion people on Facebook (that’s more people than the population of China by the way) and impress your clients at the same time right from the Moxi account you already have. Showcasing listings on Facebook will make you look like a digital marketing superstar and add to the reasons why you deserve more repeat and referral business. Start today.
Have you heard about our Halloween Promo? Today, October 31, is your LAST chance to get 25% off and enter to win the new iPhone X! Each time you choose to advertise your listings using this tool, you’re entered to win. Click here to start.
By Maddie Jostol
Redfin recently rolled out an initiative to drop their listing fees, significantly undercutting the average listing fee. The company tested the strategy in major markets, such as Washington D.C., Seattle, Chicago, Denver, and San Diego and, not surprisingly, saw a substantial increase in business. In many of these markets, the typical listing fees are around 2.5 percent, yet Redfin has lowered their fee to 1 or 1.5 percent. Redfin has claimed that their listing count has grown in every market where they’ve dropped their listing fee.
The new low-fee strategy is spreading into residential real estate, which is leaving many brokerages concerned about how they’ll compete. Lower listing fees will put pressure on your pricing, which is painful in an industry with already dwindling margins.
The pricing conversation
The first step is to coach your agents on how to handle the pricing conversation. While a low listing fee will, in theory, save the seller a decent chunk of change, in reality, it’s important for any consumer to look at the whole picture when making a decision. When agents educate their client, buyers and sellers better understand exactly what these low listing fees mean for them, and how they can shop around to ensure they get the experience they’re looking for.
Provide support to your office managers in coaching agents throughout your brokerage to have these conversations, putting your brokerages’ value proposition front and center, regardless of a high or low listing fee.
Focus on the sphere
An agent’s sphere of influence is their key to success in such a competitive market.
If the competitive factor is listing fees, get your agents to rely less on new, unfamiliar leads. Why? Those leads are more likely to shop based on price, whereas those leads who already have a relationship with your brokerage are more likely to shop based on familiarity and trust. When agents focus on maintaining their sphere of influence to encourage repeat and referral business, they no longer face the direct competition that they would with paid leads.
All Moxi Works tools are built to accompany a sphere selling methodology. We’ve seen that when agents have productivity tools that align with their sales goals and methodology, they find long-term success. If contacts are nurtured and relationships are upheld, the decision is no longer about a one percent listing fee difference – it’s about trust and professionalism.
There’s no doubt that Redfin will continue to find success due to their unique low fees, however, that doesn’t mean that price cutting is the only strategy. Work with your managers and agents to ensure they’re armed with the tools they need to remain competitive.
By Maddie Jostol
The competition is heating up in real estate. Inventory is tight, agents are competitive, and brokerages are desperately trying to recruit. With a new generation of agents in the real estate world, the way in which successful brokerages approach recruiting has taken a significant turn.
Companies, such as Compass, have huge funding and they’re using it to recruit new agents. What happens to those aggressive brokers when the value prop was a signing bonus? Making agents more productive and making their lives easier with an integrated platform in the answer. Compass is offering agents with higher commission for their first year, serious signing bonuses, and offering managers significant salary bumps. Many concerns have been raised regarding their cash burn rate and the sustainability of this model long-term. Whether or not it’s a sustainable business practice, how are other brokerages supposed to compete with these massive cash offers?
Conversations around signing bonuses, commission splits, training, and culture are getting noisy and difficult to navigate, which means creating a recruitment strategy is that much more challenging. So, what do agents really want?
Put yourself in the agent’s shoes for a minute: What makes your brokerage unique? What is the brokerage doing to prepare for a prosperous future? What tools does your brokerage provide that will ensure you’re successful?
Offering a suite of technology tools is a great way to compete with these rising signing bonuses, while simultaneously benefitting your brokerage. When you offer agents the opportunity to be more successful through intuitive, easy-to-use productivity tools, thus having greater agent productivity, everyone benefits.
Millennials are now making their mark on the real estate industry. As a generation of experienced agents retires, it’s vital for brokerages to continue recruiting, developing, and retaining new agents. It’s no secret that millennial professionals care about more than just cash. While money can be motivating, your brokerage should be making offers competitive in other ways, such as technology. Offering agents an ecosystem of technology tools that encourage productivity and success is exceedingly powerful.
The Moxi Cloud open platform is an example of brokerage technology that attracts and retains agents. Why? Because it makes agents’ lives easier and brokerages more profitable, through agent productivity. The open platform is where all of your brokerage tools and services integrate and share data, creating a flexible technology ecosystem powering your business.
Now think about the future of your brokerage. What changes will you be experiencing in the next 10 years as the industry continues to evolve? Agents want to work with a brokerage that is prepared for change, arming their team with flexible tools and services to remain successful.
Whether you’re targeting new or experienced agents, they’ll want to work with a brokerage where they can find the most success. While you may not offer a massive signing bonus, you can still be competitive in a way that benefits both sides. Technology helps us get through our everyday lives, keeping us organized, on time, and efficient. Making their lives easier will make them more productive, making your brokerage more profitable. What technology does your brokerage provide that will attract the best agents?