What’s a MOFIR??

MOFIR stands for ‘Make Offer For Immediate Response’ and it’s one of the concepts covered in Gary Keller’s popular Real Estate book Shift.

It’s one of those strategies that many agents and teams have been using forever without even knowing the MOFIR term. Below we’ll unpack what exactly MOFIRs are and how to use them to stand out.

• What is a MOFIR?
• Common Types of MOFIRs
  • CMAs
  • iBuyer Solutions
  • Solutions for Contingent Buyers
• Tips to Making a Compelling MOFIR

What is a MOFIR?

MOFIR, shortened from ‘Make Offer For Immediate Response’, is primarily designed to incite immediate engagement from prospective clients. This is achieved by presenting a compelling, hard-to-resist proposition. This tactic is employed across several industries, an example being the automotive sphere where companies often run appealing specials such as “Lease this car now for an unbeatable $299 a month!”

The core objective of MOFIR is simple – to get the prospect to raise their hand and acknowledge their interest in your offering. In the car industry, their representative MOFIR strategies ideally prompt potential clients to respond through a phone call, online enquiries, or dealership visits. The end goal? To foster such an irresistible proposal that your prospects find it impossible not to seize an appointment with you.

Here, KW Agent Jose Medina breaks down the MOFIR concept.

Why use a MOFIR in your Marketing?

The well-trodden path of having an affable demeanor is, while helpful, insufficient in today’s highly competitive and information-loaded marketplace. This is why savvy real estate agents are turning to MOFIRs as a powerful tool offering irresistible solutions to prospects, thus sparking interest and engagement.

In real estate, deploying the MOFIR strategy allows agents to not just capture immediate attention but also expedite the entire conversion funnel by delivering value that brings the prospect closer to a transaction. Many MOFIRs (as we’ll cover below) are specific to acute needs that come up during and immediately after a real estate transaction which is why these MOFIRs can accelerate the process and create a strong partnership with the agent that is “making the offer”.

By pinpointing and addressing specific challenges or requirements a prospect faces, you’re more likely to not just pique their curiosity but also to secure an appointment taking the prospect closer to becoming a closed client.

Common Types of MOFIRs

Disclaimer: the best MOFIRs are by definition uncommon.

Why? As the market becomes saturated with a certain type of offer then it becomes less compelling…driving fewer and fewer prospects to take action.

That said it’s good to learn from the proven MOFIRs out there when devising your unique offer to use in a MOFIR.

Comparative Market Analysis (CMA)

A large portion of the country’s net worth is tied up in their primary residence. Offering a comprehensive analysis of their property’s value is indirectly evaluating their net worth, an offer too tempting for most to overlook…hence its popularity as a MOFIR for seller prospecting.

The ins and outs of creating and executing a CMA campaign that can be irresistible as a MOFIR is something that we won’t cover here, but check this deep dive on CMA software here which goes over many tips to make your CMA standout and maximize results.

iBuyer

This is another compelling MOFIR when prospecting for sellers. iBuyer services are marketed as an immediate online buyer for sellers, thus eliminating waiting, as well as, all the stress involved in home selling caused by negotiation, difficult buyers, and the possibility of falling out of escrow due to myriad unforeseen issues. PLUS many iBuyer platforms have programs to partner with agents that want to offer this as a MOFIR too.

Cash buyer

While iBuyer propositions are more about “easy-to-sell” homes (usually in excellent condition), cash home buyer proposition targets sellers with hard-to-sell homes. Cash buyers purchase homes in their as-is conditions based on their current market values. 

For the segment of property owners with a that meet this criteria, the ease of dealing with a cash buyer can be significant motivating factor to completing a transaction.

Solutions for Contingent Buyers

Being a “contingent” buyer (when your purchase is dependent on selling another property) is a tough position to be in for a few reasons:

• sellers view contingent buyers as riskier and can reduce the viability of an otherwise great offer
• selling on a tight timeframe can lead to a lesser outcome
• there’s added stress when juggling dependencies between major transactions

There are different solutions that can solve this problem on the sell-side like Rentback and EasyKnock. An agent can market these solutions as the offer in their MOFIR to appeal to homeowners that have been on the fence about their next move because of the factors brought on by being a contingent buyer.

Making a Compelling MOFIR

Now that we’ve established some common MOFIRs it’s your turn. Here are some tips to making a great MOFIR:

• Start by truly understanding your prospects’ dilemmas because addressing a pain point is an effective way to get someone to take immediate action.
• Your offer should be unique and valuable enough that they would have a hard time finding it elsewhere.
• Don’t be afraid to limit your audience to a small niche to achieve the optimal positioning (and you don’t need many people to engage for a MOFIR to be immensely profitable)
• Reduce friction in the immediate response by thinking through the process the prospect will take to enter their info. Consider streamlining with QR Codes, as well as, form solutions optimized for information capture
• Track every step of the MOFIR from the number of mailers and/or signs used, click rate, form completion rate, and transaction close rate

Here’s a panel conversation during a KW event that deep dives on successful MOFIRs

A solid MOFIR proposes bespoke solutions, exclusive offers, industry insights, and personalized services that will appeal directly to a specific prospect persona.

Does this all sound like marketing fluff? How about this then…your MOFIR should invoke FOMO (a fear of missing out) for prospects that will spur them to act.

In conclusion, crafting a powerful MOFIR hinges on introspection and a deep understanding of your unique selling propositions, market dynamics, and client needs. By identifying and leveraging your distinct strengths and insights, you can create a MOFIR that offers personalized solutions beyond the generic information found online. This strategic approach sets you apart, transforming your knowledge into a potent tool that not only meets but anticipates your clients’ challenges. Implementing your MOFIR effectively ensures you deliver exceptional value, securing more appointments and distinguishing you in a competitive real estate market. Always aim for your MOFIR to provoke immediate responses and maintain sustained interest, crucial elements for a successful real estate business.