Are You Keeping a Close Eye on Your Competition?
Do you watch what other agents in your marketing area are doing? You should, for a few reasons.
First, if they’re successful, you can learn something from them. Being a copycat means you weren’t there first, but in some cases, it’s still a good idea.
For instance, back in 1994 when our office started putting photos on our business cards, every other agency in town soon followed. Likewise for putting a brochure box outside the office door, so night-time visitors could pick up a copy of our listing brochure. (In those days, people would come by and look at the flyers in the window – kind of like they look at the listings online today.)
But there’s another reason to watch your competition. That reason is to land more listings.
Some time ago on Active Rain, master marketer Barbara Todaro shared how she “keeps watch” for the agents in her office.
First – she keeps an eagle eye on the expired listings.
Each day she checks the list, checks to make sure it hasn’t been re-listed, then gets one of her agents on the phone,alerting them to make a listing presentation appointment.
That’s one you may already be doing, but here’s another that I believe most agents don’t do:
When driving through your territory, keep a notebook handy. If you see a real estate car in a driveway, make note of the address. Next, using the reverse directory, get the owner’s name and phone number.
Then call immediately!
(Of course, check to make sure they’re not on the do not call list. If they are, you’ll have to knock on eh door or send a note.)
Tell the homeowner that you noticed that they’ve been talking with a real estate agent and ask if they’d like a second opinion about the value of their home.
Then go for the appointment. And go prepared – ready to get that signature.
To quote her: “When you find a crack with daylight shining through, blast it open and close the listing.”
Could you be embarrassed using this method?
Of course. It’s possible that the other agent was there talking to his Mom, or that the occupant was a buyer client, or that the listing was signed while you were looking up the phone number.
If any of that happens, just make your apologies and wish them well.
Now take it one step farther. Send a note. Thank them for speaking with you and wish them well.
The fact that you called will have made an impression. The card will reinforce the impression AND give them access to your name when they’re telling their friends about the call. (It’s unusual, so you know they will.)
One more thing… If you want some outstanding tips on how to market listings, follow Barbara Todaro’s blog on Active Rain. She really is a master marketer.