How do you get more listings.
The number one way to get more listings is a no brainer, sell your listings in a timely manner.
When you actually sell your listings in a timely manner, word of mouth spreads quickly. Client referrals are a wonderful thing.
How do you sell your listings in a timely manner?
- Numero uno is KNOW YOUR MARKET!!!
Do you know how many listings sold last month and the median price? How about the average DOM and what types of listings are selling? Predominantly REO's? What type of financing is predominant in your market right now? My market is swimming in buyers who qualify for the USDA GRH program because every area in the county qualifies for the rural program, however it won't work for everyone and every type of home. You should know the predominant financing and at least one excellent lender who handles that type of financing to refer your clients to. A good lender is worth their weight in gold!
- Give GOOD CUSTOMER SERVICE. How hard is that? It's what being an agent is all about. You are a problem solver, a welcome wagon, an ear for people under duress a lot of the time and you are handling one of the largest transactions most people will ever make.
Take this responsibility seriously and for goodness sake, return phone calls quickly and answer your phone whenever possible, respond to your email and reply to your text messages in a timely manner. There are some agents out there who think they are above all this and that their clients should be happy the agent has taken them on. How do I know? I have to work with them when my clients like the agent's listing or I receive an offer from that agent. Thankfully, in my market, this type of agent is few and far between.
- Price your listings to sell. If you do not know your market, how are you going to do this? Granted, it can be tough with unique properties, but most of the time there are going to be comps out there to give you a clue. Follow what is happening each month because in today's market, a 3 month old comparable may need to be adjusted for the 5%, or whatever it may be, price decline you are experiencing in your market.
For excellent experience in learning how to price your listings, sign up and do BPOs--Broker Price Opinions--they will FORCE you to know your market.
- Keep tabs on your listings and keep in communication with your clients. If your listing is not getting showings, then see what listings are. Does your listing need a curb appeal makeover, is it priced too high?
If your client knows the listing is priced too high in relation to comparables, then fine, they are making an educated decision, albeit a bad one, but at least you have done your job in providing them supporting documentation on their best price range for a timely sale. Whew!
- Use signs to your advantage. For more on signage, check out this post. Signs work and the return on investment has been a very good one for me.
- Use the internet to promote your listings. I have been getting a very good response from my listings on Craigslist, my own website and my Active Rain participation. I do a lot of other internet promotion including Zillow, Trulia, Google Base and others. You never know where your buyer is going to come from so cast a wide net. I do not utilize any of realtor.coms enhancements as of the beginning of July and have not noticed a decline in hits to my website or phone calls. On the contrary, I have NEVER been busier.
For more on realtor.com enhancements and what 350 other agents had to say on this subject, click here.
- Get organized and keep abreast of your listings. I found this quite easy when I had less than 10 listings, but the more listings you have the more systems you have to have in place. I have made the coolest labels, they are 4" x 5", one for the listing info and one for client info. I print them out on my printer and can change the information as needed (they're on my hard drive) to have the information that is pertinent to me at my fingertips. I stick the labels on the front of my file folder for each new client and wa-la, easy to find information. But what about when I do not have my files with me. Not to worry. My clients are in my cell phone and ALL their information is in my contact list that I can access from any computer, including my clients contracts and supporting documentation for their transaction.
- Make connections for your clients and for yourself. I assume you are an agent because you like helping people. If this isn't the case, change professions right now because clients can spot a lack of sincerity a mile away and you won't be successful or happy. If you do not like working with the public, you will not like real estate, plain and simple.
I love to put clients together to form new relationships, especially for those that are new to our community. Who of us doesn't know what it's like to relocate and not know anyone but your REALTOR? Be sensitive and help form bonds where you can. This will come back to you if not financially, how about by having a new friend. Can you ever have too many of those?,
These are a few ways you can add more listings to your inventory. More listings (that are properly priced) means more sales, which brings more listings, which brings more sales. Don't you like the sound of that?
I am here to assist you with all your Crescent City and Del Norte County real estate needs. Thank you for stopping by and please leave a comment.
Thank you for stopping by. Your comments on this post are welcomed and appreciated.
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thanks for the reminder. The best way to get listings is to have a sold sign.