With inventory of for-sale homes very low, and demand seriously growing, real estate salespersons must get creative
And just like that, it seems an enormous national spotlight shone down on Southern New Hampshire and it’s economically glowing hubs of Manchester, Nashua, and Concord.
A national real estate survey ranked the Manchester and Concord areas No. 1 and No. 2 as the nation’s hottest housing markets for March. Additionally, a prominent new “emerging housing markets index” has Concord and Manchester/Nashua among the top 10 nationally.
The only state with two markets on the list by the Wall Street Journal/Realtor.com: the Granite State.
Homes are selling faster than Realtors can replace with new properties for sale, causing a scramble to capture the eyes of homeowners on the precipice of deciding to sell. All this while trying to match buyers with south New Hampshire homes they desire more and more.
Various reports have Realtors turning to nontraditional home sales marketing tactics, like social media platforms, or even the good ol’ fashioned walking neighborhoods and knocking on doors, or cold-calling.
There might not be a better time for property sellers to turn to promotional products to give them the edge ~ and as hot as the region’s home sales market is at the moment, even the slightest edge can help deliver big results.
Photo by Pixabay on Pexels
Stellar Recent Home Sales News
In response to the recent news reports, Gov. Chris Sununu responded with a telltale statement: “With a superior quality of life, thousands of high paying jobs, and no income or sales tax, it’s no surprise people are looking to move to New Hampshire.”
The reports:
- The Realtor.com website released the monthly list it compiles, and for March it found that Manchester and Concord had the hottest housing markets in the United States. South New Hampshire markets have seen booming sales activity and price increases for at least a year prior, but the numbers in March really caught the eye of national home sales watchers.
- Perhaps even bigger news was that the 2 markets ranked 8th and 9th in the first Wall Street Journal/Realtor.com Emerging Housing Markets Index. The index was created to help buyers choose where to purchase homes, considering a variety of factors including strength of housing demand, rising home prices, vigor of the economy, well-paying jobs, and available amenities. The top markets have a blend of higher-end, outdoorsy, and resort areas near small and larger cities; and often contain a plethora of restaurants, bars, and shops, with “reasonable” commutes. Concord was listed at No. 8 on the list, and Manchester/Nashua at No. 9. New Hampshire is the only state with 2 markets listed.
Signs for Realtors and Home Sellers
It means Realtors are very actively looking for homes to sell, whether new or pre-owned; and they won’t be alone in marketing their services as broadly as possible. With homes in the state staying on the market an average of only 40 days (down almost 40% from a year prior), for-sale homes are turning over at a spectacular rate.
Savvy area Realtors already have spruced up their websites, and we’re seeing more of the telltale signs of a scorching-hot housing market, like postcards in the mailbox, and business cards wedged into front doors.
But is it enough to stand out from the crowd?
Name Recognition is Branding for Realtors
Think from the perspective of a home owner just making the decision to sell. How would they choose a Realtor to carry through the sale? Aside from word-of-mouth or recommendations of friends, they might scour display advertising in local publications, or even do some internet searches. But doing just that probably would overwhelm them; there’s just too many choices.
Much of the time they go with a name they remember. They might not know why they remember, but they do. There’s some familiarity with the name, maybe even the face photo attached to it, and somewhere deep in their brains the association is positive.
That’s branding, and any good Realtor should be working on it all the time, not just in times of hot markets. There are a lot of ways to do this, but let’s toot our own horn here: promotional products work.
Ideas for Realtors to Build Name Recognition
Again, veteran Realtors already are aware of the importance of name recognition, and take actions to build and maintain it. It could be delivering small American flags for front yards every Fourth of July, or providing a popular “neighbors help” community web page. Some actions are events or online; but not everyone has all the time to tackle such endeavors.
In sales, they call them “leave-behinds.” Leave-behinds are small items designed mainly to keep potential customers or clients thinking of you or your company.
These can be displayed in a physical location like an office, or handed out. They most often include contact information like phone numbers and email addresses, so in a pinch people can go back to the item to retrieve them if needed.
It’s a reason why refrigerator magnets are so popular. Attach little calendars to them ~ which they can refer to now and then because they always know where it is ~ and your name and contact information is about as easily accessible as possible.
Same with small notepads. How many of us have opened our front door to find one laying on the porch? Do you throw it away as trash? Nope. Most of us toss it in a drawer, typically near the main phone (for those still with landlines), in case a quick note needs jotting. Those little notepads are useful for any number of things.
The best leave-behinds are usable, clearly branded, inexpensive, and most of all fun, or at least leisurely.
A key to remember here is most marketing experts know that it takes about 5 to 7 engagements with your brand before a potential future customer recognizes it. This is important to know with newspaper display advertising, which can be expensive. Too often, businesses purchase huge ads with hope of impressing potential customers, only to be disappointed when no one calls.
Probably better is smaller ads, but purchased for a longer period of time ~ so readers get used to seeing it over and over. Ever wonder why so many Realtors go with business card-sized display ads? Bet you’ve been seeing the same ones over and over for a long time. That’s the point.
Tips for Leave-Behinds
Don’ts:
- Attach them to current events, politics, or social issues, which can change as quickly as the wind. Stick with fun or light-hearted.
- Be time-sensitive. That is, pushing a date or upcoming holiday. See below for “evergreen.” Unless you don’t mind the item having a short shelf life. (However, promo items don’t always have to be about marketing; they can be used to just celebrate, too).
Do’s:
- Make them useful. If it’s something they can use all the time, like pens, small notepads, or calendar magnets they will come to appreciate them, and your name/brand, even if subliminally.
- Think evergreen: items with no time element attached to it, that can remain in a house or office for a long time. Think how Christmas or holiday-themed promotional items get tossed every January. Evergreen means they are forever healthy, and don’t wither with the season.
- Try to keep multiple items if possible. This gives you options to choose what to leave behind based on the customer’s personality, lifestyle, or any other tidbit you know about them. Having only mini footballs to give away might not be enticing for women, for instance (though it still may, of course). Vice-versa, men might not be likely to hang onto nail files.
Regarding the last point, it’s important to note that ordering in smaller batches is more affordable today than in the past, as technology makes it easier to produce and turn around branded items.
Our Top 10 Promotional Products for Marketing Realtors
Starters
Door Hangers ~ Almost every fledgling Realtor has ordered these; they can be surprisingly effective.
Long-Term
Notekeeper Magnets ~ How many things stay stuck to your fridge for a long time?
Calendar Magnets ~ Nice for them to always know where to look to find dates and days of the week.
Magnet Clips ~ As suggested above, something useful, plus it also can stick around on refrigerators or other places in a home.
Postcards ~ Good for both mailing, or dropping onto porches during neighborhood walks.
Even Longer-Term
Tape Measure ~ These can tend to stick around in homes for years.
Paperclip Dispenser ~ Same as above; some people forget where they got that thing on their desk.
House Coolie ~ When better to brand your name in someone’s mind than when they are enjoying themselves with a cold one?
For Future Referrals
Box of Chocolates ~ Remember how many sales come off referrals; get the double-bonus of thanking a buyer while planting a seed for the future.
Subliminal
Home-selling Books ~ For homes with kids (and you know which ones they are!).
Resources
Featured image at top by Austin Chan on Unsplash