Posted: May 26, 2016 by Paul Cohen, Director of Business Development
I recently met a long-time broker-friend for lunch. In typical broker-friend style, he texted me five minutes before we were due to meet telling me he was finishing up a project and asked if I would come to his office first. I did. He was hunched over a workstation with who I assumed was his marketing assistant at the computer’s controls. As I approached, he greeted me with “BaBoom! 30,000 emails. Let’s get lunch.” Turns out that my broker buddy had just hired a new marketing whizz who had revamped his marketing platform. They both looked very excited.
“That’s great,” I told him, “So, what’s your delivery rate been?”
“How many unique page views are you generating?”
“OK,” I said now feeling a little like a bully “how many offers have you gotten?”
“We got one last week on the downtown development site!”
Turns out he wasn’t clear whether the offer came from his email campaign or a call off a sign, but 30,000 emails must have generated some of the deal activity he was experiencing. Right?
I explained to my friend and his whizz that technology was available that takes the guess work out of email campaigns. You can analyze exactly how many emails were delivered, viewed, resulted in downloaded OMs, and who performed these activities all on CREXi.com for free.
“Why are you paying a service without these capabilities over $200 a month when you can use CREXI for free?” I asked.
“Free is good but we don’t have time to learn a new mail program. Time is money, Pauly-boy,” was his reply. I logged into his CREXI account (of course, he had a CREXI account) and in three clicks created him an email marketing campaign. The campaign was customizable and directed buyers to his listing page where they could quickly execute his NDA, access his sleek offering memorandum, and open a due diligence vault with all the property information (he was still paying a firm $100/month just for a DD vault).
He was impressed. Then he noticed on his dashboard that each listing had a number of page views, Executed CA’s, Downloaded OM’s. He swore he had never seen that page before (He had because I had given him the demo). Then he looked at the Downtown Development site and clicked on the leads tab. The buyer who had submitted the offer had downloaded the OM over two weeks ago. I suggested that he should probably check his other listings. He agreed but after lunch and he was buying!
Paul Cohen is a Regional Director with CREXi based in the firm’s Miami office and focused on business development in the southeast. Prior to joining CREXi, Cohen was a Managing Director specializing in investment sales and equity raises at Cohen Financial, a national debt and equity advisor. Prior to Cohen Financial, Paul owned and operated his own independent real estate firm following a 12-year tenure at CBRE where Cohen was a Senior Vice President and led the Private Client Group in Miami-Dade County with a specialty in office and industrial investment sales.