As real estate markets across the United States heat up, it’s natural that real estate professionals will shift their focus to seller clients. Even if you have an established sphere of influence (SOI), finding listing opportunities requires patience, hard work and a strategic approach. Leveraging your network of family, friends and colleagues is the more traditional approach to building a network of potential and past clients, however with more competition online there’s more competition for a seller’s mindshare. Thus, you need to increase your online presence through a variety of methods, whether you decide to invest in a lead generation and management system, purchase leads from one of the national portals, or post ads on Facebook. Ultimately, it’s about creating a balanced marketing mix that works for you.
To help you get started, here’s a hot list of resources and tactics that you can begin leveraging today:
Call on Expired Listings
Many MLS organizations give you access to expired listings, and you can work these expired listings into your prospecting routine. Here’s a quick tip from one of our most successful BoomTown clients, Chris Speicher. He recommends not calling during the first few days after a listing is expired. Why? Because the homeowner is likely inundated with calls and can get overwhelmed. Rather, Chris suggests waiting for the Tsunami of calls to recede–perhaps over five to seven days–and then call. Take a customer service approach on the call, offering helpful data and recommendations to demonstrate your knowledge of the market as well as the seller’s home.
Convert Buyer Leads Into Seller Leads
The buyers in your database are one of your best opportunities to get new listings. One of the first questions you should ask any person who is interested in buying is “Do you have a home to sell?”
Leverage Sphere of Influence (SOI)
Spending thirty minutes each day making check-in calls, connecting on social media, and sending handwritten notes goes a long way with your SOI. The key is being consistent and disciplined. Well-known real estate business coach, Tom Ferry preaches persistence and offers some great tips on creating meaningful communications with your SOI.
Join a Team
Kyle Whissel, a long time BoomTown client that typically carries an average of 20-30 listings, suggests that if you’re new to the business, align yourself with a great team before branching out on your own. This way you’ll learn the business through actually dealing with real life client situations and circumstances.
Host Open Houses
Embrace open houses; Kyle also recommends this as a great source of leads. One approach he takes with open houses is to hold a “neighbors only” open house before hosting a general, public event. A neighbors only open house allows you to meet, face to face, potential clients who are in close proximity to the property you’re representing, often only a few doors down or around the block; and these neighbors are a great source of referrals.
Once you’ve connected with a potential seller client, it’s time to prepare for the listing presentation. To help with this preparation, check out our step-by-step guide to preparing a winning listing presentation below.