Have you been using pop-buys to stimulate your real estate business, or perhaps you’ve been told you should? In this post, we’ll delve into why you should ditch this outdated strategy, and what approach you should embrace instead. If you’re a real estate entrepreneur looking to cultivate relationships and influence in your local market, this article is specifically crafted for you.
Understanding Pop-Buys in Real Estate
In the world of real estate, pop-buys have been the traditional method of generating referrals. A pop-buy involves giving past clients and other sphere members a small token gift, typically with a catchy marketing slogan attached. The idea is to pop by your client’s home, give them the gift, reconnect, and subtly ask for a referral.
However, it’s time we take a realistic look at the practice in the modern age. Are pop-buys still effective? The answer might surprise you.
Two Reasons to Abandon Pop-Buys
Firstly, people simply do not appreciate unexpected visits anymore. The only visitors people generally expect nowadays are Amazon deliveries and food carriers. Friends coordinate visits ahead of time, and unsolicited visits are often considered a disruption, not a pleasant surprise.
Secondly, and most importantly, pop-buys are not scalable. As your business grows and your sphere of influence expands, it becomes increasingly challenging and time-consuming to perform pop-buys consistently. Inefficiency and inconsistency can hinder your business growth and negatively impact your mental well-being.
It's about time to replace outdated methods with innovative strategies that reflect current trends and consumer preferences.
The VIP Program: A Modern Alternative to Pop-Buys
Rather than sticking to a tactic that is not sustainable, consider adopting a VIP program. This method allows you to identify, track, and reward your top referrers without the need for unexpected home visits.
One of the ways to appreciate your VIPs is by sending them unexpected gifts in the mail. A surprise package can elicit a far more positive response than an unsolicited visit.
Key Considerations for the VIP Program
When sending gifts, two main considerations should guide you:
1) Personalize your gifts. Gifts should reflect the recipient’s taste and preferences, not be an advertisement for your business. They should be items that the recipients will use and see often, such as a soft blanket or a personalized doormat.
2) Ship your gifts. This not only allows you to stay consistent in your gift-giving but also saves you the cost of gas and time that would have been spent driving to the recipient’s homes. It also gives you an opportunity to delegate this task.
1) Personalize your gifts. Gifts should reflect the recipient’s taste and preferences, not be an advertisement for your business. They should be items that the recipients will use and see often, such as a soft blanket or a personalized doormat.
2) Ship your gifts. This not only allows you to stay consistent in your gift-giving but also saves you the cost of gas and time that would have been spent driving to the recipient’s homes. It also gives you an opportunity to delegate this task.
Our VIP program is a scalable, modern alternative to pop-buys. It allows you to build and maintain relationships with your sphere of influence efficiently.
Wrapping UP
The VIP program is a scalable, modern alternative to pop-buys. It allows you to build and maintain relationships with your sphere of influence efficiently. It’s about time to replace outdated methods with innovative strategies that reflect current trends and consumer preferences.
As your next step, consider setting up a VIP program in your real estate business. Watch out for potential challenges, but stay persistent and believe in the process. You can even reach out to us for more information on our sphere influencer coaching program, designed to help real estate agents dominate their markets without purchasing leads.
Remember, with the right tools and strategies, you can create a thriving, recession-proof real estate business. Make the shift and start your VIP program today.
As your next step, consider setting up a VIP program in your real estate business. Watch out for potential challenges, but stay persistent and believe in the process. You can even reach out to us for more information on our sphere influencer coaching program, designed to help real estate agents dominate their markets without purchasing leads.
Remember, with the right tools and strategies, you can create a thriving, recession-proof real estate business. Make the shift and start your VIP program today.