The following is an excerpt from Market Leader's Complete Guide to Home Sellers. This free 28-page guide helps agents improve their ability to generate seller leads, turn them into clients, and sell their homes. You can download the full version here >>
“When you list, you last,” or so the old real estate industry saying goes. But how is an agent expected to last when finding a homeowner who wants to list with you is like trying to find Waldo?
Many experts recommend returning to the basics in this changing market if you hope to attract homeowners who want to sell. Other experts disagree, instead advocating for cutting-edge marketing strategies. Let’s take a look at some cost-effective ways to market your services to sellers.
Start With Your Warmest Leads
Start with the warmest contacts in your database and work your way to the coldest prospects. This means starting with your sphere of influence - reaching out to family, friends, and past clients with the age-old question: “Do you know anyone who is planning on selling their house?” Even if the answer is “no” right now, the story may be completely different next week, and you’ll be top of- mind for them because you reached out.
In her efforts to find homes for her buyers, St. Paul, Minn. agent/broker Teresa Boardman struck on an interesting idea. She went through her database and pulled out the names of homeowners she’d given a listing presentation to within the last three years. After checking to ensure they hadn’t sold with someone else, and crunching some numbers to determine if they were underwater, she started contacting them.
“Some of them were unrealistic,” she explains, “wanting $275,000 for a house that’s worth $200,000.” Out of the few calls she’s made so far, however, the plan seems to be working. “One I’m going to list for sure, and another one looks like a real strong possibility, and another is trying to decide if he should rent out the house or sell it,” she said.
Revisit Cold Leads
Another technique that typically works during low inventory periods is to go after expired, cancelled, and withdrawn listings. Real estate trainer Tom Ferry suggests choosing the worst year to be on the market out of the past three years and aggressively marketing to the homeowners with these types of listings. Even if these homeowners don’t want to list right now, you can put them on a drip email marketing campaign; chances are good that they’ll reach out if they sell their homes in the future.
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Read the rest of it - and get more tips for generating seller leads, turning them into clients, and selling their homes - by downloading Market Leader's free Complete Guide to Home Sellers.
This guide will teach you how to ...
- Generate more seller leads
- Turn listings into sold homes
- Impress during listing presentations
- Make your seller clients happy
- Sell luxury real estate
- And more!