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Broker Best Practices: Moving with the Market

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“The first step toward achieving customer loyalty is understanding that when you get a client, you get them for life, not just for one transaction,” says Jeff Murtaugh, Designated Broker with Realty Executives Tucson Elite. Read on as RISMedia’s Managing Editor Paige Tepping interviews this Arizona broker about keeping his agents motivated and implementing technology today.

Jeff Murtaugh
Designated Broker
Realty Executives Tucson Elite
Tucson, Ariz.

Region served: Southern Arizona
Years in real estate: 37
Number of offices: 2
Number of agents: 90 executives
Average time on market: 45 days
Average sales price: $165,000
Most effective way to motivate agents: If you have to go out and motivate your agents, in the long run, they won’t be productive. Instead, you should focus on filling your company with self-motivated individuals who already possess an inner drive.
Best idea for time management: Make a list of everything that has to get done on any given day and be sure to complete one task before you start another.

Can you describe the current market conditions in your area?
Even though we were one of the hardest hit markets in the U.S., we are extremely busy today. In fact, I see a lot more of a positive attitude out there as we are starting to at least look up and see the light at the end of the tunnel. The shifting market that we have experienced over the last several years has been a real eye opener for our company, as it has taught us that we can’t run our business the same way we did a few years back when the market was drastically different. Instead, we have to move with the market and work with what we’re given in regard to short sales, foreclosures, etc. There’s always a market somewhere, and to be successful, you have to find the market and focus on it.

What are some of your best marketing techniques?
Our marketing varies depending on what area of town the home is located in, the price range of the properties as well as the demographic we’re targeting. We have a large Hispanic population in Tucson, so advertising in Spanish is also an important part of our marketing strategy. While there are a multitude of ways to market our listings, it’s crucial that we don’t leave out any demographic, so we cover all the bases by taking advantage of radio, newspaper and home sale books, investor advertisements and alternative sign marketing.

How do you use technology to stay ahead of the competition?
We recently hired an IT person who is working with our Executives and training them so that they know what technology is available to them as well as how to successfully use it. For instance, Realty Executives offers a drip marketing campaign that can be used for email and print, and their brochures and Web pages provide an added advantage. The Internet is one of the most important aspects of this business, and it’s crucial that you pay attention to it so that you can keep up with the changes. We’re taking advantage of the various social media platforms to keep our name out there and stay ahead of the competition.

What strategies do your sales associates utilize to stand out to clients and achieve customer loyalty?
The first step toward achieving customer loyalty is understanding that when you get a client, you get them for life, not just for one transaction. Realty Executive’s marketing program allows our executives to stay in touch with clients on an ongoing basis. In today’s market, good clients are hard to find, but once you’ve established your core group of clients, you don’t need to market yourself to them quite as much since they will call you back for their real estate needs and refer you to their children and friends. Picking up the phone and calling your clients a few times a year is also important since it forces people to talk to you.

What makes your company unique in today’s market?
We are expanding at a very rapid pace. Not only are there good deals to be had when it comes to leasing space, but there is a great amount of movement among agents within today’s market. We have also put together a very good management team that enables us to always be accessible. We are available 24/7 for our executives and they know that they have backup from management when needed.

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