1 lost listing = 3 total transactions
Imagine how many deals you would do if you simply lost less to your competitors. It is not just listings you lose, you are also losing buyers and future listings. It goes like this:
-A Buyer doesn't have an agent.
-The Buyer goes to Open Houses on their own.
-A Buyer is searching (alone) online.
Yesterday, we mentioned that once a person buys a home, they become a seller. So if you lose a listing to another agent, you most likely lost the opportunity to capture a buyer in the process which results in a future listing.
If our math is correct, that is 3 transactions due to faulty marketing, neglect, and/or unreliable technology.
So, what to do?
1) Set up a Neighborhood Search for every seller.
- You can edit the delivery schedule to monthly, weekly or daily
- You can send them to more than one person (A great time-saver)
2) Organize your sellers into groups based on "years owned"
3) From your PropertyMinder toolkit, you can track the sellers are looking at the listings and call them based on activity levels.
If you are able to deliver active and sold listings to homeowners before they: grab a flyer, call the agent on the sign, or begin searching the address in Google- you will keep your clients informed.
If you are monitoring their what they view and their activity/habits, and you follow up with them, you can then motivate them with a CMA.
If you do these things, you will keep them. Get greedy and never share your clients.
Remember: If you are the reason a client is curious as to the value of their home, you will be the person they call when they want to find out.
Remember it is yours, not theirs. Do not lose business.