Selling the Dream: A Podcast for Resort & 2nd Home Real Estate Agents

Selling the Dream: A Podcast for Resort & 2nd Home Real Estate Agents


Ep. 81: Randy Roesch Gives Tips About How to Break Into a New (to You) Market

June 07, 2019

Have you ever found out about a company moving into your area, and knew that there was an opportunity for new business?




Many people will move to the area, and they’ll need a place to live! You’re ready to serve them….right?




Well, if you’re finding out about that relocation in the news, I hate to tell you this, but you’re too late!




In order to be able to help those big companies, you’ve got to have connections, and be out there talking to people.




Not all is lost: be ready for those referrals, and find ways to be able to help the new people coming to your area.




Want to make sure that you don’t miss out on big opportunities like this? You can get information by attending local community events, networking, and being involved in your local chamber of commerce.




Working as a relocation realtor is very different from most other real estate jobs. You’re going to thrive on referrals. Those referrals will definitely have higher fees perhaps than what you’re used to, but really, you never know: it could end up being strategic for your business!




Today, Randy Roesch is here on the podcast to talk about his experiences in a hot market: Reno, Nevada. He found out about companies moving to the area, and was able to leverage that housing need to provide exceptional value. He’s here on the podcast today to share tips about how you can maximize that value, and serve a new (to you) market, and he’s also sharing some lessons he’s learned along the way.




Highlights of this episode:






  • Tom introduces Randy, his area of expertise, and how he got into real estate.




  • Randy started in development, and transferred over to sales in 2007/2008 - he had to learn FAST how to bring value to clients!




  • Going through a changing market brings lots of new perspective and helps you learn and grow: even in a down market, there is business to be hard; you just have to adapt!




  • A down market can help weed out those who aren’t professional or committed to WORK and those who survive will be able to serve clients on an even higher level!




  • Hot tip: the Reno, Nevada market is one of the fastest growing markets...and there’s room to continue growing!




  • How do you get to work in a HOT and growing market? When you find out that giant tech firms are going to a new area, or that there is going to be major commercial growth, you have a HUGE opportunity to find business.




  • While the relocation business is a tough one to get into (many companies also look for a 30-50% referral), it can be a strategic business decision.




  • If you’re going to do relocation, just be aware that business won’t be the same as many other real estate strategies: don’t be afraid to niche!




  • Instead of targeting BIG companies, who may already be working with others, and hiring relocation services, look for smaller companies, perhaps with 10-30 employees.




  • By the time you hear about a company moving into town via the news, it’s too late! Get talking to people, and go to local chamber of commerce events, and community events.




  • Dollars spent to market to our sphere are better spent than dollars spent to market elsewhere: use your current database to get referrals!




  • Keep your communications simple, visual, and easy to understand.




  • Choose your email CRM carefully: make sure you do the research so you don’t get blacklisted.




  • 300 solid contacts with all data points is better than having a database of 800 contacts with missing information: use that information for multi-point marketing. Call them, send them mail, and get in their email inbox!




  • The value of an organized database is immense: take the time to clean it out!




  • A well-organized and maintained database can be the source of almost all of your leads! Some agents are able to exclusively work from their database!




  • Always know your pitch; know exactly who you serve, and how you serve them: be ready to share what makes you unique and special.




  • Take chances with marketing: there’s a chance that even a small tweak could skyrocket your results.




  • Try A/B testing: if an email doesn’t “stick,” then the next day, change the subject line and try again!




  • Look at the analytics: making changes in your marketing doesn’t mean anything if you don’t look at the results. Make sure that what you are spending money on is yielding results!




  • If you are great at everything, then you should be hiring somebody who's great at something that's more cost effective for your dollar per dollar performance: it will free you up to do the things that matter!




  • Not good at processes? Hire an assistant! Know your personality; know what you’re good (and not good) at! In business, especially, it’s crucial to your success that you know yourself. It helps you choose effective behaviors.




  • The DISC test is scarily accurate: it will take a while to fill out, but it will give you valuable information!




  • Randy’s biggest piece of advice to new agents: get a coach and learn.






Hey everybody, thank you so much for spending time with us today: would you do me a giant favor and share this podcast with fellow realtors, and leave a review. Your reviews help this podcast get shared with more people.




Special thanks to Randy Roesch for being on the show! You can connect with him here:





Connect with me (Tom):





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As always, thanks for listening. Don’t forget, you’re not selling a home: you’re selling the dream.


 


See you next time!