It happened again the other day when I opened my (real) mailbox. There sat yet another one of those Realtor magnets-probably the 10th one I have received so far this year. This one had a typical picture of the Suzy Q Team, or some such, and an attached football schedule/2008 calendar/monthly home improvement tips (I can’t recall which-they all blend together after awhile).As a marketing professional, fewer things drive me crazier than the steady stream of Realtor magnets. However, after tossing them out all these years, I actually started to collect them as a joke. Then I started thinking about why I despise them so much.
Why Magnets Are Un-Attractive
First, they are a cheap marketing ploy. That is undoubtedly the No. 1 reason so many Realtors seem to favor them. You can just hear the magnet manufacturers laughing all the way to the bank. “Get a half million custom magnets for just two cents each!”So the average Realtor says, “Why not! I can plaster my name and face all over a couple dozen neighborhoods for next to nothin’!”Their first mistake is thinking that because it’s cheap, there’s no harm.The second mistake is thinking that such a cheap ploy will actually influence anyone positively (get them hired).The third mistake is thinking that there is actually any practical value with these. OK, maybe minimally so-a tacky magnet I can stick on my fridge, yes, and possibly a tiny calendar. Both of those functions (magnet and mini-calendar) override any “awareness” or “image” building you think your face/company name might be having.The thinking must go along this line: “If I can convince people to put this on their fridge for a WHOLE YEAR, think about the constant exposure I will get! When it’s time for them to buy or sell, I’ll be TOP OF MIND!”That thinking is flawed for several reasons:Number 1: If so many are doing it, what makes you think you’ll stand out? You don’t-you just end up stuck up on the fridge with the rest or more likely in the garbage.Number 2: With an expensive product to sell (actually the most expensive thing most people purchase in their lifetime, only a handful of times), what makes you think a cheap trinket will enhance your image? It doesn’t.Number 3: How do most people choose a Realtor (hint: not by who has the best fridget magnet). Answer: Personal referrals. So why waste your money, again, on a cheap gimmick?Number 4: Even if you are “top of mind,” what makes you think you are most qualified to be my Realtor? Personally, I’ve worked with a few I would never work with again-because they were annoying and didn’t have my best interests in mind. Even so, their magnets keep flowing in. More amazingly are the ones that come from the Realtors I haven’t worked with, and have no intention of working with.I also find it interesting that not a single Realtor has actually ever knocked on my door or otherwise delivered a magnet personally. So there’s another strike-an impersonal gesture, that they mistakenly think is personal, warm and fuzzy.Speaking of thinking, that is actually what I expect in a good Realtor: someone who is a thoughtful expert. First, you need to be a specialist in my neighborhood (if I’m selling) or the place I’m buying. As a specialist, I perceive that you have your ears and feet to the ground and know better than a generalist what the pricing is and how to ensure the process goes as quickly and smoothly as possible.Another important point: You don’t need to be my friend. In fact, doing business with a friend on a big real estate deal might (probably will) lead to some trying times, and possibly threaten our friendship. So no offense to any Realtor friends, but unless you are a specialist where I’m buying or selling, you can remove me from your tickler file-and save yourself another magnet.Thoughtful Realtors are the ones who take the time to analyze my neighborhood and keep me updated on what’s happening. Thoughtless Realtors do stuff like buy magnets in bulk, or piece together “helpful articles” or emails they purchased from some canned service. Thank you, but I’ve read enough about the dangers of mold and the generalities of what home improvements recoup their investments over time. What can you tell me about my situation?If more Realtors quit stuffing mailboxes with junk and actually knocked on doors and developed relationships based on expertise and individual understanding, imagine what would stick in their prospects’ minds?