Tuesday, September 26, 2006

Good food, great conversation with more agents in the Los Angeles area

We had yet another chance last week to hear about the opportunities and challenges agents are facing in the Los Angeles market. We had a great conversation with a group of nine agents over dinner at Mr. Stox in Anaheim. The following morning we met with a group of seven agents for breakfast in Garden Grove before the seminar and learned even more.

One customer shared a great story with us about how she uses Market Leader to set up prospects on email campaigns to build relationships and loyalty. “I had just started working with a buyer that came to me through JustListed. I set her up on an email campaign and then one day I received a phone call. She had just returned from an open house where the agent wanted to work with her. Her words exactly: ‘there is no way I could go with the other agent since you’ve already done so much work for me!’ This was all because of the personalized emails that were automatically being sent to her.”

Here are some other topics we covered that agents felt were important to discuss given the current market conditions in Los Angeles:

● Agents and lenders are seeing more foreclosures today. They anticipate foreclosure becoming a bigger part of their business in the next 3-5 years.

● Seasoned agents believe the market is returning to a normal one, like the one they experienced five years ago. They feel like they have a strong chance of surviving in the industry having done business in this type of market before.

● Sellers are more likely to choose an agent to take their listing if they follow up with a hand-delivered CMA.

● The biggest challenge agents are currently facing is that there are not enough buyers, while the number of listings are increasing.

Best sources of prospecting today: Internet lead generation, referrals, word-of-mouth, door-knocking, open houses, online advertising.

Click here to view photos from our dinner and breakfast with the agents.