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How to Thrive in a Cooling Real Estate Market
5 Tips to Persevere and Succeed in 2023
By Addressable
Published December 5, 2022
Last Updated December 8, 2022
MARKETING

Even in a shifting housing market, there will always be people who need to move. The key is to get in front of those listings. These five tips will help ensure you’re top of mind when someone experiences a home-selling life event.

1. Don’t skimp on marketing

In a cooling real estate market, it may feel counterintuitive to spend money. Your gut instinct may be to pull back on your marketing—but now isn’t the time to fade away.

“It doesn’t matter what the market is doing–ever. It matters what you’re doing.” - Peter Fife, top producer in Prescott, AZ

Evaluate your current marketing strategy and make adjustments. While new markets require new approaches and tactics, the goal remains the same: win listings.

As a rule of thumb, put the pedal to the metal on programs that deliver 3X ROI or more.

2. Don’t be too salesy

People do business with people they like. After about 5-7 years in real estate, there's very little that distinguishes one real estate agent from another as far as knowledge and expertise.

The thing that sets you apart is a homeowner’s perception of you. Put their interest before yours to build rapport and trust with each interaction.

While people hate being sold, they look to friends for advice. Make sure they know they can come to you with any moving or real estate questions.

3. Make meaningful connections

Find opportunities to socialize during the holiday season and throughout the year. Attend community events. Make the effort to start conversations with as many people as possible.

Host your own social gatherings in areas you farm. Invite the community to a hot cocoa or ice cream social or a casual meet-up at the local dog park. You’ll be the one sharing treats!

The more interactions you have, the higher the odds that you’ll be in the right place at the right time.

4. Don’t neglect your past clients and sphere of influence

There are going to be fewer transactions out there for the taking. The best competitive advantage you have is with your past clients and people within your sphere of influence.

Set a goal to connect with them no less than 18 times per year in varied ways. Every third or fourth time, make sure your outreach is personal.

Call people simply to say hello and ask how things are going. Send handwritten notes or cards. These thoughtful touches go a long way toward keeping you top of mind when it’s time to do some real estate business.

5. Be consistent with your efforts

Don’t let this market shake your confidence. While the market has slowed, there will still be people who need to sell. Consistency and patience are key.

Evaluate and adjust your marketing efforts, make time to network, and stay in regular contact with your past clients and sphere of influence. If you do, you’ll navigate this market like a pro and hit your goals.

Tap in Addressable

Addressable's automated marketing solution makes it possible to send personalized handwritten cards at scale. Using proprietary technology, we apply the strategy, targeting, and trackability of digital marketing to direct mail. Since 2020, $1B in U.S. home sales have been attributed to Addressable leads.

Our handwritten cards get opened, read—and drive engagement. Recipients will believe you personally sat down to write them. We invite you to order a free sample and see for yourself.

Ready to get started?

Get early access to the Addressable platform.

FAQs


Do people really think these are real?

Yes! In a 3rd party blind study, participants were presented several cards. Some messages were written by our robots, some by humans. Participants were unable to identify which handwriting was done by a robot.


How does Addressable work?

With our proprietary technology, an actual ballpoint pen is pressed to heavy card stock using a realistic human font. Our end-to-end process is carefully designed so that there are no marketing “tells or tip-offs.” Each homeowner who receives a card will believe you took the time to write it.


Can I test a small number?

We’ve learned through testing that the minimum sweet spot for generating listing leads is 1,000 cards. Less than that won’t deliver the results you want . Our goal is to set you up for success and demonstrate clear value with every dollar you spend on handwritten cards.


Why are handwritten cards better than post cards?

Most of our agents have the option to use brokerage postcards for free or low cost. Agents choose to use handwritten cards because we get them listing leads. Brokers want their logo going out—it’s a branding play. In reality, they don’t really help your business. Postcards focus on the brokerage. Handwritten cards focus on building rapport with the homeowner and how you can be of service. Postcards often don’t make it in the door. They typically go directly into the homeowner’s recycle bin. Postcards are mailed in bulk. The USPS discards undeliverable postcards. They kind of go into the void. And you don’t get confirmation when they actually drop in the mail. Postcards are visually overwhelming. There’s no clear message why someone should pick up the phone and call you.


How do you differentiate from other handwriting companies?

Addressable provides an end-to-end solution. When we produce a handwritten mail campaign for you, our goal is to generate listing leads for you. We help you stand out—and differentiate yourself—in a competitive market. Our experts craft the message, target the right homeowners, and track your results.


Can you tell me all the agents you work with?

Nearly every individual agent or team we work with does has $20+ million in production, and they're very private about their marketing programs. They consider Addressable part of their secret sauce. Check out our top clients that have found success with us.


Can other agents mail to my area?

Nope! No other agent can market in your territory.


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