Relationships, The Consumer Buying Process, and Real Estate!

Relationships, The Consumer Buying Process, and Real Estate!

By Shawn Sturges Infinity Property Ventures, LLC

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The process to purchase real estate whether for personal or as investments for the future can be an important decision.  In order to ease the purchase decision real estate companies should build a relationship throughout the process as well as the post purchase.  Real estate is not usually an impulse buy therefore a relationship development between company and client is a crucial part of the sale of any property within the portfolio of the company.

Problem or Opportunity Recognition

The first step in the consumer purchase decision is problem or opportunity recognition, and is where the development of a relationship can be forged.  Homebuyers realize that they have a need to enter the market for any number of potential properties to add to their lives.  One reason for their entry into the market is the attractiveness of the real estate environment which in turn allows real estate companies to meet the needs of these consumers.  The realization by the consumer for a property places the real estate companies in the driver’s seat to help the consumer find the most appropriate property that meets their needs.  The relationships that these companies have developed with past clients can become the key ingredient to capture the attention of the new consumers that enter the market.

The Search

The second step in the buying process is the search and the amount of time along with effort that the consumer places upon this very important step.  Consumers begin their search with the identification of all potential companies that can meet their real estate needs.  This is where the relationship development process is perhaps at its peak in terms of attracting clientele.  This does not necessarily mean face-to-face relationship building in the beginning, but can instead be the advertising or social media interaction that the company is involved in as part of their business strategy.  Advertisements can help build brand recognition in the hopes to become part of the clients’ evoked set.  The evoked set is the alternatives that the client can easily recall with minimal research at the beginning of the purchase decision.  The real estate company does not need to spend large amounts of marketing dollars to become part of this evoked set if they have great relationship skills.  Many times clients may turn to friends, family or business partners to help identify some alternatives that they should look into during the process.  This simply means build relationships with all of your clients whether or not they end up purchasing a property from the company portfolio because they might just refer future clients to your company.

Evaluation of Alternatives

The third step of the process is the evaluation of all alternatives that are in the evoked set of the client.  This can truly make or break the real estate company when closing the sale.  If clients are considering a potential company because they have a desired property in their portfolio then they will spend some time with that company.  The relationship skills of the agent on behalf of the real estate company can help the process move to the next step, but if a relationship to ease indecisiveness of such a large decision is not met then the result may be the loss of a sale.  One way to build the relationship and solidify your company as part of the evoked set is develop a genuine interest in the client’s needs and be part of their home buying experience.  People are very perceptive to others emotions, so if the agent only sees them as just another sale this could negatively impact the current as well as future sales. This ability to build a relationship with the current client can lead to the ability to become part of the evoked set of future clients due to the fact that a satisfied client will be more apt to share their experience with others.

 

Purchase Decision

This is the step in the process in which the client will purchase a particular property that they are interested in at that point in time.  The relationship that the agent and company have cultivated with the client can not only close the sale, but help continue the financial health of the company.  Prior to the purchase decision the client would have done their research since they will potentially spend somewhere in the six figure range for most properties, so the ability to develop relationships can truly ease the decision to close the sale.

 

Post Purchase Decision

Although this step varies depending on the product or service that will be purchased this step is still important to real estate companies.  This is the point in time where buyer’s remorse begins to set in especially as a result from high priced items.  In regards to real estate purchases this can be mitigated by follow ups in order to see how the new owners are with their purchase.  Another way to help out with the post purchase is the ability of the real estate company to refer their new client to other companies that can help them with the client’s home such as plumbers, electricians, and landscapers.  These added value options can not only help the client turn their property into greatness, but help with the future referrals by the satisfied client to others that are in the market for a property.

Conclusion

Every client in the market for a property will eventually navigate the consumer buying process whether or not they are aware of the process.  The real estate companies themselves should be aware of this process along with each step in order to better serve their current and future clients.  One great way to nurture these clients’ business is through the development of relationships.  There are various ways to foster these relationships throughout the process and will vary depending on which step a particular client is in at that point in time.  The ability to develop relationships along with the knowledge of the purchase decision process can truly help with the future success of the company through the development of a growing network of clients that will not only share their experience, but return to the company for any future real estate needs.

 

 

 

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The Four “E’s” of Social Media & Real Estate

 

The Four “E’s” of Social Media & Real Estate

By:

Shawn Sturges

Infinity Property Ventures, LLC

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Today many companies are implementing social media into their business strategy for success in order to gain more customers.  Social media is more than just content added to specific social channels that the company has in operation.  The digital real estate should be utilized to its fullest potential, and they are the four “E’s” to social media that need to be understood to find success.

Entertain

This is a simple concept to follow along with the capability of early implementation into your social strategies.  Create content that adds an entertainment value to fans and followers.  If followers find content entertaining the likelihood of them sharing and coming back for more dramatically increases over time.

Real Estate companies can provide entertainment through visual media by way of Instagram and Periscope.  Instagram through their many filters can spice up photos of various properties that are on the market.  Another great use for Instagram is to provide photos of the properties multiple rooms with a before and after photos which show what transformations are possible.  Periscope is a fascinating new social tool where the users can interact live during a broadcast session.  One great use is to take the property walk-through to a whole new level! No longer do interested parties necessarily need to be present for a first time showing, and furthermore the property shown can gain interest from other parts of the country or world.  Be bubbly, exciting, and be informational to help create entertainment.

Engage

One major pitfall that most companies face is the lack of engagement with fans and followers of their various social channels.  The main result of this minimal engagement is the   mere fact that the company only uses their channel to sell their services or products.  This quickly turns many people off which can cause slow or even stagnant social growth.

Real Estate companies should be able to easily engage with their followers especially when listing their properties on their social channels.  When potential clients follow these companies one reason is that they are either in the market for a home of their own, or in the market to find future investments.  When these individuals send direct messages be prompt with responses because this can lead to the liquidation of one or more properties in the company portfolio.  Furthermore, engagement leads to the company brand spreading beyond current followers with the potential to reach new consumer bases.  Another effective way of engagement with fans and followers is to comment on their own content.  This can lead to a spike in social traffic to each social channel that is in operation.

Excitement

Build excitement for future events or products and this will keep people returning for updates.  The ability to maintain secrecy is often important in many companies but this does not mean that excitement for new products or services cannot be teased.  A new product for instance can be in the shadows where the outline can only be seen and then tease the product release date with a photo on Instagram which than can be pushed to Facebook along with Twitter.  Periscope can be used to interview celebrities that might be endorsing the product or service in order to increase brand recognition.

Real Estate companies can use these social channels to create a tremendous amount of excitement.  Periscope, as mentioned before, is a live broadcast social tool, so the company can use it to walk through the neighborhood to help create an experience to build excitement.  Twitter can be used to tease several new properties by simply stating the location of the property rather than just simply posting the listing to the channel.  Finally, a meme could be created that goes along with the properties in the portfolio.

Etiquette

Etiquette on social channels is just as important as during face to face meetings.  However, social media etiquette varies a little in the way that it occurs.  On Twitter, for instance, if a follower replies to a comment then reply to that individual to begin a dialogue.  When individuals take their time to mention your company in conversation, especially if they tag you in the post, a reply shows gratitude along with the value that is placed on their comment.  Sometimes in order to vary content it is great to become a content curator which means that others’ content is shared by you on your social channel.  The best practice would be to mention the contents’ creator on your social channel with tags which can lead to more visibility for your brand.

 

Conclusion

These four “E’s” of social media are by no means complete for what the possibilities are for company expression.  Although each company is different, follow these four main aspects to social media and watch the growth of each channel flourish over time.  Millennials tend to have this practice down since they have lived with these social channels throughout most of their life.  The social channels might change over time but these simple yet effective guidelines can provide a return on your investment if implemented.  Take time to research social channels in order to understand what makes them successful or unsuccessful then imitate them until you find your social voice.

 

BomBoard Named New Sponsor of SND Film Festival

BOMBOARD NAMED NEW PRODUCT SPONSOR OF SND FILM FESTIVAL

January 15, 2016

FOR IMMEDIATE RELEASE

BomBoard, LLC NAMED NEW PRODUCT SPONSOR OF SND FILM FESTIVAL®

Three Days of Screenings and the Conferring of the Humanitarian Awards

    Serve as Pillars of Partnership

SND Festival’s 2nd ANNUAL Event to Take Place October 22-24, 2016

Chicago, IL [January 15, 2016] –The SND Film Festival and BomBoard, LLC today announced a new partnership as Product Sponsor of the festival. The international event — founded by John Sill-up — announced the dates of the 2nd annual festival, October 22-24, 2016, as well as the deadline(s) for submissions, available on http://www.sndla.com. Now in its second year, SND invites global filmmakers – from around the world – and extends its mission to showcase the humanitarian efforts of filmmakers, directors, actors, and other members of the film industry.

bomb

“BomBoard, the newest company on the technology horizon, developed one of the newest and innovative water crafts in the sports world. The product is geared towards fun, in addition to a new way to simplify storage, transport and costs. BomBoard’s motto is for innovation, culture and community – the same values that SND Festival expresses.”  As a sponsor, BomBoard provides additional support to raise awareness and money for humanitarian efforts, to enhance the Festival experience for all participants and guests, by way of a live online auction of a BomBoard signed by all film makers, presenters, judges and celebrity guests. The money raised will be donated to the Society of Notre Dame, to improve the lives of children of refugees in North America and Eastern Europe.

About the SND Festival
Founded by John Sill-up, this is the second annual film festival to the benefit of displaced children of refugees in North America and Eastern Europe. Live T.V, Internet & Broadcasting at the event will bring into focus the entertaining and charitable elements of the film festival. SND is also partnered with National Veterans Foundation and Hollywood Music in Media Awards.

About Bomboard

BomBoard was founded by John West who has had a lifelong passion for all things watersports (especially if it has an engine on it!) With its unique modular design and a total weight of less than 165 pounds total, the BomBoard will fit in the back of most cars. There is no need for a trailer as a single person is all that is needed to launch this clever water-craft into the water! Whether you are standing, sitting or kneeling, this water missile has you covered! All styles of rider comfort ability and ease of use has been tested. With a lower center of gravity, speeds of over 40 MPH and the sharp turns are totally doable… there is nothing like it! www.bomboard.com BomBoard also supports the Wounded Warrior Program, to ensure improvements of each soldier’s life.

 

Press Contact

Beatrice Davis

Sassy B Worldwide Productions

773-525-5744

beatriced@sassybworldwide.com

The Convergence of Current Social Trends

The Convergence of Current Social Trends

By

Shawn Sturges

Infinity Property Ventures, LLC

 

Each year companies look for various trends in order to capitalize upon which will help with their growth.  One area of trends that companies should not forget about is that of social trends which can help them further understand how to obtain as well as satisfy their consumer base.  Social trends progress at various rates, but seemingly they have begun to converge at a much swifter rate over the past several years.

Trend 1:  People desire an increased amount of information

Today there are an increased number of individuals that are becoming more socially conscious which means they want to know where the products they are purchasing come from.  Gone are the days where consumers blindly purchase products from companies.  The consumer of today wants to know where the coffee beans they are buying comes from and if it has been harvested through humane means.  This demand for knowledge reaches across all industries especially as the moral awareness of the consumer continues to grow.  Sweat shops, over use of harmful pesticides, unethical business practices, etc. will no longer be able to be swept under the rug, nor the wool be pulled over the eyes of consumers.

Trend 2:  Consumers desire more dialog with companies

If a customer has a question about a specific product or service they wish to be able to have an answer within a reasonable time.  We can see that as more consumers desire knowledge about their products naturally questions will arise so therefore companies should be ready and willing to answer questions.  Companies need to be willing to answer questions through various means which may include social media, toll free lines, and email.  If the consumer cannot obtain an answer within a reasonable period of time then they will turn to the alternative… “The Competition”.

Trend 3:  The connectivity of social media

Social media has taken the world by storm!  Everyday more and more people are creating a Facebook or Twitter account in order to be connected.  Social media is one of the main ways in which most people, especially millennials, obtain their news and information.  Companies are now becoming more aware of this social trend in particular especially since baby boomers are beginning to step down and millennials are beginning to move into those empty roles.  The engaged consumer is a happy consumer, so companies that disregard social media and the opportunities that they present are lacking in one area for future success

Trend 4:  Traditional advertising is losing its grip in the social media age

Traditional advertising is becoming ineffective since the main approach is to market to a large demographic with one or a few set of messages.  The advent of social media has been the “wild west” for advertising over the last several years.  Companies that have found a method to this madness have seen the true benefits of implementing social media advertising into their campaigns.  What does this mean moving forward? Companies need to engage with their current and future customers in order to obtain their business.  Companies need to research on how their products and services can benefit different niche demographics, and then create target advertising messages to capitalize on that market.

Trend 5:  Consumers searching for authenticity from the brand

Everyone wants the real thing today!  This might be the vacation to a foreign land with the opportunity to meet indigenous people living in their traditional environment, or genuine trinkets made from the area of the world that is stated on the label.  This “truth” helps to create a status within social groups which in turn can further establish a particular brand.  The authenticity of the company and its brand can be a direct relationship on its future success.

Real Estate companies and investors can draw upon these trends to help them with their investments.  This can start with the way in which they interact with their clients throughout the home buying process.  The process can begin with the interaction with potential clients through social media accounts which can establish viable leads, have prepared details on all properties to provide the desired knowledge that each client needs to make an informed decision, stage the properties in different manors that reflect the current environment where the property is located, but what potential the property can afford to the future owner.  The final area that today’s real estate company can capitalize on is social media marketing through Facebook, Twitter, Instagram, etc. to showcase all current properties.  One hint would be to use the ever more popular Periscope platform to provide a live walk through of staged homes so that not only local clients have the ability to see the home, but those around the world can see them as well.  This just might increase the reach from the local market to the global market.  Stay on top of these social trends and capitalize on these waves of change.

 

The Sustainable Home

The Sustainable Home

By Shawn Sturges

Infinity Property Ventures, LLC

What might the home of the future look like?  We might see the homes of the future lean towards more of a green smart home model.  These homes might include many self-sustaining features such as geo-thermal heating, rainwater collection systems, solar panels to collect and store energy, security systems activated remotely through smart devices, energy saving appliances, and many other technologies of the near future.  We can see many individuals begin the transition towards these types of homes and as time moves on many more will begin to adopt these technologies into their homes.

In today’s economic climate this idea of a green smart home might be out of the reach for most, but this technology will become more affordable as more companies compete in these emerging technologies.  At this point in time these types of homes lean more towards being luxury items with these homes mostly being the second or even the third home of the wealthy.  This however will not always be the case due to younger generations that demand sociopolitical change along with being more environmentally conscious.  This fact alone could see a dramatic lean towards greener smart homes much more quickly.

Millennial are the next generation in line in the home buying market so many real estate companies should pay attention in order to capitalize on a potentially lucrative market.  We can see this generation already supports sociopolitical movements on social media along with having an environmental consciousness, so naturally the demand for a green smart home is just on the horizon.  Do not be surprised if home builders begin erecting these homes from the ground up, or even if real estate investors purchase homes in order to convert them into a sustainable model so as to plant themselves firmly into this market.

Let us take a moment to visualize the home of the future.  The home would have solar panels to collect and store energy which in turn will limit the amount of energy consumed by traditional means.  A rain water collection and filtration system would be able to collect rain which then would be able to be used for showers, baths, laundry, drinking along with many other possible applications.  Geo-thermal systems would be able to heat the home which would lower the electricity used, and even allow homes in the Midwest to rely less on natural gases for heat during harsh winters.  The home’s security system would be connected to the owner’s smart device in order for the owner to always have the ability to monitor their home whether they are local or even on vacation.  A multitude of other applications could be integrated from touch screens being able to replace key entry, and even voice activated artificial intelligence that would help to learn the owners habits in order to adjust the environmental controls.  These technologies are truly not far off, and can potentially lessen the impact that we have on the environment around us.

These technologies may still only be accessible to the wealthy, but pay attention because competition tends to drive down price in the market.  This means that this technology will eventually lower in price in order to become much more affordable to many economic groups throughout the United States and across the globe.  Homeowners can already begin to adopt some of these various technologies into their homes which can move them in the right direction to lessen their individual impact on the environment that surrounds them.  Take the time to be educated on green smart homes because at some point in time this will become the home of the future.

 

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