Even if you prefer to work with buyers, having an inventory of listings gives you a lure to start buyer conversations so almost all agents will benefit by getting more listings into their inventory.
Past customers and referrals are always the #1 source for listings, but there are opportunities to prospect for new listing business as well. The tried and true is to offer market reports on what is selling, how process are trending, and homes that have sold near your target seller’s home. In years past this offer to provide stats, reports and pricing info was most frequently offered in post cards and print ads, now there are more options.
We recently polled some of our top Market Snapshot® users to learn how they are specifically marketing to potential sellers using a free market report and SOLD alerts to initiate contact. Here are 6 unique insider strategies that are working for some of them:
#1. Online Forums
Participating in active local blogs and groups is a good way to start because you will likely be networking with community members who have common interests and it is not hard to engage and find relevant moments to interject what is happening in the market. From online parent groups to community job boards and more, one survey responder recommends joining the conversation and sharing a link to sign up for your market report to gain visibility as the go-to expert in the neighborhood.
#2. Newsletter Capture
Another popular response to our survey was to share the link to your market report in communications to your database connections. This can be via a quarterly newsletter, a specific email campaign targeting sellers, or in an old-school paper mailer to your farm.
#3. Nosy Neighbor
One of the more unique responses to our survey was a “Nosy Neighbor Invite”. This agent creates an invitation —complete with a link to their market report landing page— that invites the neighbors to view their listing and others that pop up as alerts when they come available in the target neighborhood. You’re not only promoting your listing, but are educating potential sellers (neighbors) on other market activity in their neighborhood.
#4. Anniversary Date
When you sell a home, record that date. Another survey respondent sends a market report to their clients on the anniversary of their home purchase to let them know how the market is doing and what their home is worth now. This may spur conversations about whether or not it’s time to sell.
#5. Social Media
Many agents in our survey reported success when they posted a link to their market report on social media asking homeowners if they were curious about the value of their home. This strategy can be even more successful when the agent sponsors the post or runs a Facebook ad containing this information with a lead form.
#6. FSBO Interest
Access to current information can be difficult for FSBOs who don’t have an agent in their corner. One of our survey respondents recommends providing FSBOs with a complimentary market report to “keep them in the know” and to be top-of-mind should they decide to partner with an agent.
What are You Doing?
With so many different ways to implement market reports into your lead generation strategy, what have you found to be the most effective in your market? We’d love to hear from you!
Share your insider tips for winning listings in our recent survey, and you’ll be entered to win a free year of Market Snapshot®. Take the survey here. And, here’s to winning listings!