Marketing the Number ONE Skill To Have

Your listing presentation should include all the following EXCEPT: A. Background on you B. 1-4 Family Contract C. Listing agreement D. Updates on the real estate market

1-4 Family Contract

What are the four DiSC personality types?

1. Dominant 2. Influential 3. Steady 4. Compliant

Name 4 Main reasons why Marketing is the most important skill to have

1. Marketing is the engine that drives the leads to your business 2. People don't like salespeople or to be SOLD something 3. Most companies don't know how to market themselves or their services 4. Marketing separates you from all of your competitors and makes you the obvious choice regardless of price

What are the two type of agents?

1. One who goes for the commission 2. One who goes for the relationship

List the 4 ways to apply the principle of leverage

1. People 2. Money 3. Product 4. Technology

List 4 SEO analytics

1. Site Traffic: This is the number of visitors (both total and unique) who come to your site on a daily, weekly, and monthly basis. It is important to not only understand how many came but also from which sources. 2. Conversion: Sales are certainly the goal, but to maximize your efforts and optimize your sales approach, you need to know what percentage of the visitors who are presented with your offer follow through with the purchase. 3. Cost Per Lead: To determine whether each source is giving you a return on your investment (ROI), you need to calculate the cost per customer that each generates. 4. SEO Position - For years many businesses have been obsessed with site ranking but that is starting to change as search engines like Google are constantly changing the way searches are done when using them. Make no mistake about it; SEO ranking is still very important.

List the five purposes of marketing

1. To capture the attention of your target market or demographic 2. To engage target market/demographic 3. To educate your prospects and position yourself as the obvious choice 4. To position yourself as the obvious choice 5. To have the customer arrive at the conclusion, "I will do business with you regardless of price!"

List the 10 questions every business owner needs to answer to craft a marketing message that works

1. What business are you in? 2. What problem are you solving? 3. What is your product/service? 4. Who is the customer? 5. Why do they buy from you? 6. How do you know? 7. Who is the competition? 8. What are they saying? 9. What is your current marketing message? 10. How do you answer the question "Why should I do business with you?"

List the 5 time management myths

1. You can manage time. 2. I have no time for down time. 3. I have to be available 24-7 to succeed. 4. I'm the only one who can do it. 5. Taking time off will cause my business to decrease.

Define the three-fold goal of Sales

1. You get clear expectations from the customer or client about what they want or need. 2. You establish the price and terms. 3. You agree on time frames.

What is the goal of sales?

1. clear expectations 2. establish price and terms 3. agreed time frame

Ideally you want your web page to load under ________________.

2 seconds

A DTPA lawsuit must be filed within ___________ after the date on which the false, misleading or deceptive act occurred.

2 years

Regarding advertising rules, the broker must notify the commission in writing within ___ days after the broker starts/stops using an assumed name in business other than the name in which the person is licensed.

30 days

On a sign or other advertising media, the broker's name or assumed name must be at least _______% of the size of the largest item of contact information.

50

What percentage of new home shoppers use a mobile search engine at the beginning and during the entire home-searching process?

89%

According to the "Real Estate Blueprint", what is the definition of Direct response?

A Call to Action (CTA) is typically at the end of the advertisement and its purpose is to give the reader, viewer, or listener (depending on the media) a compelling reason to act using a device, or offer, in the advertisement to respond directly to the advertisement or promotion (i.e. typically a visit to the company's website or a request for more information).

According to the "Real Estate Blueprint", what is the definition of Risk reversal?

A guarantee or warranty that removes the risk of buying from the consumer of the product or service and places the risk upon the provider of the product or service

According to the "Real Estate Blueprint", what is the definition of Unique marketing position?

A sentence, phrase or paragraph that elevates, separates, differentiates, and distinguishes you and your business from all competitors. Positions you in their mind as the obvious choice and keeps you from competing based on price alone.

A statement or phrase that defines a product or service, and its value to the consumer, simultaneously elevating, separating, and distinguishing it from all competitors is called:

A unique marketing position

According to the "Real Estate Blueprint", what is the definition of Back-end?

Also known as a loss leader, a marketing strategy whereby profits are sacrificed on the first sale to gain a customer who will continue to make repeated purchases. It ultimately results in a long-term profitable relationship.

Studies by Edwin Locke show that more ______ goals lead to more performance improvement than ________ goals.

Ambitious, general

All the following are questions to ask on your first visit to the seller EXCEPT: A. Why are you moving? B. How much are you asking for your home? C. Are you moving for financial reasons? D. Have you had any activity?

Are you moving for financial reasons?

The three steps to powerful marketing are all of the following EXCEPT: A. Say it well B. Have something good to say C. Say it often D. Attack your competition

Attack your competition

What does a High D want?

Authority, challenges, prestige, freedom, varied activities, growth assignments, "bottom line" approach, opportunity for advancement.

All the following are levels of a customer EXCEPT: A. Suspect B. Subagent C. Customer D. Client

B. Subagent

What is the difference between back-end and risk reversal in a marketing campaign?

Back-end is where you delay profit on the front end of a transaction and make it up on the back end. Risk reversal reverses the risk from the seller or buyer to the agent.

When managing your time, it is important to ______________.

Be flexible.

On the telephone with a high 'S,' which choice represents the high 'S' preference?

Be friendly and non-threatening - don't introduce change unexpectedly.

A(n) _____________________ is when a user lands on your page but does not interact with it.

Bounce

If you do not have a Unique Marketing Position (UMP), you are considered to be a(n) __________ and the prospect will default to price.

Commodity

What does an agent prepare for the seller to show them the properties in their neighborhood that have sold, are on the market, and have expired?

Comparative market analysis

When you use Google to search a topic, it uses _____________ to determine which websites are the most relevant to your search.

Complicated algorithms

Truth-in-Lending laws were created primarily to protect:

Consumers

What is the two-step marketing formula created by large Madison Avenue marketing firms in the 1950's?

Create & Repeat (C&R)

The first visit to a FSBO is: A. To determine what repairs, if any, are needed B. To do market research C. To determine if the house needs staging D. All of the above

D. All of the above

Which is NOT a result of an ad? A. Educate the prospectB. Lead the prospect to take actionC. Capture the prospect's attention D. To close the sale

D. To close the sale

A consumer may file a lawsuit against a broker for a false, misleading, or deceptive act. This lawsuit would be filed under:

DTPA

The single most important thing in marketing is:

Differentiation

An ad that compels the reader, viewer or listener to respond is called:

Direct response

One recommendation to be more effective with time is to:

Do less and focus on important things

What business are you in?

Education

Direct mail is an "inbound" marketing strategy. A. True B. False

False

The one negative about setting goals is that often they keep you from seeing opportunities.

False

According to the "Real Estate Blueprint", what is the definition of Marketing?

Getting known

What is the name of the world's most popular search engine?

Google

There are several must-haves for responsive real estate websites. It is suggested that the agent choose all the following templates for their website EXCEPT: A. High rating B. High speed functionality C. Intuitive design D. Graphic capability

Graphic capability

The decision of whether or not to purchase is usually not how much a product or service costs. It is more about_______.

How much value the consumer gets for the money they spend

According to the "Real Estate Blueprint", what is the definition of Sales?

ID and fulfillment of wants and needs

Of all the following items on the website, the consumer finds it very important in their buying process to have____________.

Images

What are the two types of marketing campaigns?

Inbound Outbound

Which DiSC personality is bad with time?

Influential

According to business consultant Peter Drucker, there are two and only two functions of a business. What are they?

Innovation and marketing

What is the first step in the four-step marketing formula?

Interrupt

All the following are reasons to keep things clutter-free EXCEPT: A. It helps you from becoming distracted. B. It is more relaxing. C. It is more interesting. D. It saves time.

It is more interesting

Why is the title page important?

It is what google looks for when determining relevance and ranking.

The __________________ is where you educate and ultimately convert the potential customer.

Landing page

In the context of marketing, what does LTV mean?

Life Time Value

What is one of the MAIN reasons an agent should want to list property?

Listing is a high form of leverage and provides more consistent income

Why is it encouraged to be a strong listing agent?

Listings are a way to leverage in the business

Why is it encouraged to be a strong listing agent?

Listings are a way to leverage in the business.

It is no longer acceptable to ___________expectations. You must _______expectations over and over again.

Meet, exceed

What is reality in marketing?

Perception

When the public sees your services as a commodity, they will default to ___________________.

Price

All the following will increase your efficiency EXCEPT:

Respond to emails throughout the day as soon as they hit your inbox so that they don't overwhelm you at the end of the day

All the following are principles that lie behind effective goal setting EXCEPT: A. Challenge B. Clarity C. Responsibility D. Feedback

Responsibility

All the following are considered time stealers EXCEPT:

Saying no to requests that are not in line with your priorities

What are the most important comparables when completing a market analysis on a property? A. Sold comparables B. Active comparables C. Expired comparables D. All three types of comparables are equally important to give an accurate analysis.

Sold comparables

Which DiSC personality delays decision making?

Steady

Overpriced listings are often a result of:

The agent's fear of telling the seller the truth about the value of their property

The wealth of any business is in:

The existing customer base

Describe the purpose of the Landing Page

The purpose of an ad is to quickly capture the attention of the potential customer and draw them in to learn more. The page that follows is your landing page this is where you educate and ultimately convert the potential customer.

Your Unique Marketing Position (UMP) is ________________________.

The solution to the consumer's problem

What is NOT an example of a time stealer? A. Throw things away B. Procrastination C. Lunch break D. Too much work

Throw things away

What is the definition of a 'Tie Down'?

To ask a client a question after they have made a positive statement that reinforces what they just said

A responsive website is one in which the viewing by the consumer is easy on any device.

True

Channels are also call subgroups and are used to divide website analytics into manageable units. A. True B. False

True

In getting people through the sales funnel, the content is to help the consumer, not promote the agent.

True

Some of the steps to a successful marketing campaign is to have something good to say, say it well, and say it often.

True

The top of the sales funnel is the "awareness stage."

True

When people are given positive feedback both during and after acting on their goals, people achieve even more.

True

According to the author, which is considered to be the most important and valuable Sales tool to have at your disposal?

Using the DiSC personality profile

All the following are metrics to monitor on your website EXCEPT: A. Site traffic B. Web crawlers C. Conversions D. Cost per lead

Web crawlers

All the following are ways to increase traffic to your website EXCEPT:

Your logo

What is the goal of accounting?

ascertain and monitor financial health

According to the "Real Estate Blueprint", what is the definition of bookkeeping?

assimilation and recording of data

According to the "Real Estate Blueprint", what is the definition of Customer Service?

constantly exceeding expectations

According to the "Real Estate Blueprint", what is the definition of Production?

delivery of product or services that fulfills wants and needs

According to the "Real Estate Blueprint", what is the definition of Accounting?

effect transactions have on financial statements

The day of the "sales pitch" is over. Modern real estate marketers will find success in using content that ______________their leads.

nurtures

The UMP is an educational, _______________ message that makes you unique.

problem solving

What is the goal of Marketing?

prospect makes contact

What is the goal of bookkeeping?

provide accurate data to accountants/ owner

What is the goal of production?

raving fan

What is the goal of customer service?

referring clients- customers for life, referrals for life

Time management is ______________________

self-management

The purpose of the For Sale by Owner First Aid Kit is:

to give the seller all the standard contract forms, addenda, disclosures, settlement statements, financing information so the seller will begin to question if they know as much as they thought they knew about selling their own home.

If you are not face-to-face with a buyer or seller, you are ______________.

unemployed

the Five Ws (and one H) when meeting with a potential client:

• Who makes up the family (how many adults, children, and pets) • What they are looking for (from the number of bedrooms and bathrooms down to the style of home they prefer) • When they are interested in moving or selling • Where they would like to live • Why now is the time to make a change • How they plan to proceed (what is the first/next step? Do they have an agent yet?)