Updated: Apr 14, 2020
Team marketing is not a new concept. However, many sellers / owners do not know the differences engaging single salesperson to handle the marketing process versus engaging a team to do it. Since I have been approached by many during the consultation sessions to explain the differences, in this post, I will discuss in great detail what team / partner marketing is vs solo marketing.
Selling a home can be a very emotional and stressful experience. It’s important that you are comfortable with the professional(s) representing your best interests.
It is pretty self explanatory. A solo salesperson is one that does everything single handedly from the start of process till the completion of transaction. This would mean that sellers / owners will only rely on him to spend effort and time on the marketing in getting enquiries. They have to rely on him alone to do house showing at his availability. The solo salesperson has to the follow up on the past enquiries and try to solicit a proposal or offer all on his own.
A marketing team can consist of multiple real estate professionals (in the range of 2 to 10) working together. Each team will have one person in charge, commonly referred to as Team Lister. How marketing teams work internally vary. There is work distribution and system within the team so as to achieve maximum efficiency and optimal result.
“Today, I am advocating Team Marketing which can benefit owners more than Solo Marketing”
I am actually adopting Partners Marketing with my 12 other regional marketing partners stationed in various parts of Singapore which are North, East, West, Central, Northeast and Northwest regions. There is division of work within the system to ensure that we deliver result to owners and to prevent any miscommunication within the team. I, as the Team Lister, will be working hand-in-hand with partners in the marketing process. I will be the one discussing with the sellers on pricing strategy, marketing strategy, timeline and procedure, so that foundation is being laid for smooth marketing process later on.
The 2 regional partners will be advertising and marketing the listings alongside with me to maximize the exposure. Before arranging any viewings, we will qualify the enquiries to ensure they are the relevant ones. In the event I am not available for any house viewing request, my partners will be assisting with the viewings. With all the skills and knowledge we have, we bring the offer on the table and I will be the one discussing with the owners on their financial plan for upgrading from their MOP property.
I have been presenting the above mentioned proposal to owners. Many have accepted it because they know that they enjoy the following 4 intangible benefits from Partners Marketing.
Benefit 1: More Marketing Exposure, More Eyeballs
Many owners feel that they are not putting all eggs in one basket by having a team to work with them. One solo salesperson will have limited budget and "bullet" for any marketing on digital platforms. With the uprising of digital platforms for buyers to search for properties especially MOP fulfilled property, buyers are enjoying the convenience and flexibility to browse through the listings. Therefore, our owners' listings will be published at various subscribed digital platforms (such as Propertyguru, 99.co, The Edge, SRX etc) and the listings will be re-posted / re-freshed to appear in the first few pages of search result.
This is the real difference in the way solo salesperson and team partners advertise the owners' listings. This difference can actually make or break a deal in terms of exposure to the public and eyeballs attracted towards the listings. If there is insufficient marketing exposure towards a house, there will not be as many viewing requests as compared to competing listings in the same region. With our Partners Marketing, more marketing budget is allocated for maximum marketing exposure.
Benefit 2: Tapping on Different Skill Sets For The Price of One
Sticks in a bundle can’t be broken but sticks taken singly can be easily broken. Same applies to people. There is strength in unity. A salesperson alone is typically unable handle much in marketing, follow up diligently with the past viewers and negotiate effectively to get offers. One person has limited skill set to close the deal for owners effectively and efficiently.
Many owners know that it doesn’t cost any additional money by having a team of several real estate professionals assisting them in the process. In my Partners Marketing system, different partners in their respective regions know the amenities and latest developments very well because they are based at their home ground. Information is at their finger tips. Some of my regional partners are very good in building rapport with buyers during house showings, whereas some are very good in following up with past viewers thus soliciting offers from them. Some are very good in qualifying the enquiries to ensure the enquiries are ready to buy so that owners can spend more quality family time rather than entertaining non qualified viewing requests. Many owners are confident that with Partners Marketing, the possibilities are endless.
Benefit 3: Availability 24/7/365 Days For Viewing Appointments
A solo salesperson cannot possibly be at two places unless he / she knows kakebunshin no jutsu (split oneself to become multiple clones). A solo salesperson's availability can be quite limited. Limited availability is one potential drawback in today's market whereby there is huge supply of houses on sale. If buyers do not get fair chance in viewing the house, sellers are losing competitive edge against other competitors.
It is extremely important that an appointment is scheduled as soon as possible after the enquiries are being qualified in their eligibility to buy and loan assessment. With regional partners managing their respective regions across the island, they are able to cover one another and respond to the viewing requests on the same day. They are also trained to coordinate multiple viewing requests to create hype for the house.
Benefit 4: Price Protected In The Interest of Sellers
Many home owners understand the logic behind "the more salespersons, the more marketing exposure". Therefore, they will engage different solo salespersons in marketing their houses. However, owners often miss out one important factor when they make it an open listing for any salespersons to market their house: PRICE.
In an open listing, the individual salesperson do not actually care much about the seller's interest especially on the price. Due to the competition, they will sometimes advertise at a much lower price or quote lower price to buyers in order to attract the enquiries for themselves. This would mean a lower offer for owners in the end. However, in Partners Marketing, all our partners advertise at the same price and we work towards the goal set together with our clients.
The decision whether to hire a solo salesperson or team salesperson is an important one. Failing to understand the possible benefits and drawbacks of solo marketing or team marketing can lead to unpleasant sale experience. You can enquire more about Partners Marketing which we have designed for owners who have fulfilled MOP requirement or have properties below 10 years.
Want to Try Out Partners Marketing & Wish to Know More?
If you have a plan in mind but not sure if it works well – do share with me or let me know.
I will do my best to assist you to make sure you look at your plan from multiple angles and ensure you have a very clear picture on what’s going on.
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JJ Wong is the founder of MOPUpgraders.sg and has been a Property Wealth Planner in the real estate market for the past 6 years. He has helped many clients achieve their aspirations with the right financial planning and sound timeline planning. He is the man behind upgrading case studies of those who are holding on property under 10 years.