It can be tempting to use an automated CMA tool when receiving inbound CMA requests, but many agents are going above and beyond the algorithmic output to make initial contact with potential sellers. In a recent crowd-sourced contest via Active Rain, we posed the following question:
What is the most out-of-the-box way you use to reply to potential sellers who have requested a price or CMA?
We received dozens of incredible answers from top-producing agents and below we have featured the top five ideas. For even more ideas about how to identify, capture, nurture and close listing leads, check out this guide that includes seller advice from more than FIFTY agents across the country.
1. HIT THEM WITH FREEBIES
To ensure they aren’t overlooked, agents Carol Williams and Beth Atalay make sure to include a small gift along with their returned CMA.
After a CMA, I would send a personal thank you note, letting the homeowners know I enjoyed meeting them and previewing their home. I would also include a FREE car wash certificate with the note saying I would love to help them sell their home and make a "clean start" in the next chapter of their life. This was often the personal touch needed to set me apart from the masses. When you give people something they often feel compelled to reciprocate. This reciprocation may be their signature on a listing contract.
-- Carol Williams, Wenatchee, WA
I always include a gift card to Starbucks. I had one seller couple of years ago call to let me know he prefers Dunkin Donuts. I delivered one to their home and he did end up listing with me.
2. OFFER REAL MARKET INSIGHTS
Tammy Adams and Noah Seidenberg believe in giving deep market information beginning at the first touch. Read how they go above and beyond to educate and entice homeowners to use their services.
Since most agents are going to be hitting them over the head with a sales pitch, I just need to stand out as "not that person". Plus I've learned that most most of these folks either give a quick price and require them to call for more information or they might insist the person call for the results. Not me. I actually do a pretty in-depth email with pricing and why I've given the range I have. I share information on the subdivision, similar houses, market etc. I put some time in. It is not a cheap and cheezy response. I find people are blown out of the water with the quality I give on this "free" analysis. They almost always call me when they are ready to list. I know many folks feel they do not need to put this much into something that is free. That's ok. I will keep doing it. This is one reason I will stand out over them.
Our MLS allows for reverse prospecting. If you have a listing entered you can click the reverse prospect tool [to] see a list of agents who have buyers set up for searches that have certain price ranges, features, types of houses or even school districts.
The idea is to create a draft listing that uses the specifications of the property you want to sell and a price you put on it. You can create multiple draft listings with different price ranges and run the reverse prospect tool and you will get a bunch of Realtors [and their buyers]. There may be more buyers looking for certain price ranges and specifications beyond price alone. Then it is easy to create graphs and charts even with the tools provided in the MLS system. [I show] this to the seller so they can see [buyer interest at different prices]. This works to gain sellers and is an interesting and different way as compared to telling the seller how you are the top agent in town.
-- Noah Seidenberg, Chicago IL
3. SHOWCASE YOUR MARKETING POWER
Agent Margaret Rome has a weekly radio show where she discusses local real estate. She does her best to make her seller leads “famous” right after they request an initial CMA.
When a potential seller contacts me, I answer their questions and engage in conversation to see what their motivation for selling and find out the features and selling points. I continue to check out the accuracy on the tax data website. I sum up the information, repeating it back to them and tell them I will be talking about their property on [my] Sunday radio program, ALL ABOUT REAL ESTATE. And then I tell them to listen! Sunday at noon, I [give] a "teaser" ad talking in generalities. Maybe there will be a new listing. I mentioned the old farm house on half acre that is close to the new Wegmans and major access roads. This home will be under $250,000 in a neighborhood surrounded by half million dollar plus homes.
-- Margaret Rome, Baltimore, MD
4. KNOW YOUR DEMOGRAPHICS
Prior to following up, agent Jan Green makes sure to take into account who she will be speaking with -- and how they may prefer to be contacted.
Researching information provided about leads online might hint at their age and occupation. Once I have that idea, I'll know how best to respond to them.
If they are under a certain age, I might text them and get a better response from them for instance. If I know they are over a certain age, I will probably be calling them at home as that's the number they probably provided. With that information I can definitely learn more, including an address.
5. SET UP A CONTACT PLAN
Silicon Valley agent Chris Iverson doesn’t like to leave anything up to chance. After following up with an auto-generated Market Snapshot®, he puts each respondent on a specific outreach plan.
Typically, I'll email a week after I've sent a Market Snapshot® and then call a week after that if I have a phone number. I put the lead on a monthly follow up campaign of content (in addition to Market Snapshot®) once they opt in.
-- Chris Iverson, Menlo Park
Want dozens of ideas on how to capture and convert seller leads?
We gathered proven tactics from more than FIFTY top-producing agents, who shared how they capture, nurture and convert their listing leads.
Download the full guide to dominating seller leads here.
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