In today’s market, with more buyers than sellers in most markets, you need some real estate listing strategies.
Buyers are wonderful, but you might have to write twenty offers before getting one that’s accepted. If you have a few good listings, you’ll be assured of a closing now and then.
The easiest real estate listing strategies are the ones that take time…
The first, and most reliable, is having a long list of past clients who will give you new business and refer others to you. If you’re new to the business, that one is a little difficult to obtain.
Next is an excellent track record and reputation among buyer agents. This is a little easier for new agents, but still takes some time to develop.
If you don’t have the advantage of time, you need to find ways to gather leads.
In other words, you need to prospect like crazy.
- You can write a series of prospecting letters, or choose some of my pre-written letters.
- You can send them by direct mail to geographic areas or you can purchase email and postal mail lists.
- You can lead people to an opt-in form on your website through ads in local publications, Facebook, and other social media sites.
- Someday, hopefully soon, you can go back to door-knocking, meeting new people at events, etc.
- You can call, write, and email past clients and those in your sphere.
Once you have the leads, the next real estate listing strategy is effective follow-up.
Whether you use the phone to connect with referrals, or stick with email and direct mail to follow-up with internet and prospecting leads, consistency is the key to success. “One and done” won’t get the results you want.
Remember that what you say when you follow-up counts. Instead of telling those prospects that you’re wonderful, show them.
Give good information and offer assistance, then invite them back to your website, where they can read your bio, your blog posts, and informative pages that show you know your stuff.
Some real estate listing strategies are good – and some are not so good.
Once you get the appointment, a well- written, concise listing presentation is good.
Instead of trying to “wing it,” go in prepared to show your stuff! Show those listing prospects what you will do for them and how you will represent their interests.
Note that I also said concise. If you notice your prospects glancing at a clock, fidgeting, or repeatedly saying “I know,” then it’s time to speed it up. I was once subjected to an hour-long listing presentation from a pair of listing agents who didn’t know how to read the signs. I don’t know how much longer it might have gone on, because I extricated myself by saying I had another appointment and needed to leave. There was no way I’d have hired them.
It’s better to invite questions than to beat people over the head with details that don’t interest them.
Do include a few specific testimonials. By specific, I mean those that say more than “Joe was wonderful.” Try to find some that talk about your responsiveness, your superior marketing, your problem solving, etc.
Good things to include that you can leave behind …
- An easy-to-understand market report
- Examples of your flyers and on-line listings – if you’ve done a beautiful job
- A short version of your real estate bio
- A sheet of testimonials
Not exactly a leave-behind, but a good tool – a thank you note sent immediately after your visit. If you left with a signed listing, thank them and let them know what you’ll be doing for them in the next few days. If not, thank them for their time and assure them that should they choose you, you’ll work hard for them. Both kinds of notes are include in my Thank You letter set.
Granting seller’s requests is good – depending on what they want you to do.
One of my favorite Active Rain contributors, Scott Godzyk, wrote this week about being required to take a COVID test before he could go into a house to meet with the sellers. He said yes, then learned that 2 other agents had said no. Read his article to see how he handled the request that all buyers and their agents must also be tested before entering. And by the way, if you enjoy reading about unusual situations, do follow Scott. He comes across some of the strangest clients I’ve ever heard of.
You never know what people might ask of you. Then it’s up to you to decide whether it’s legal, ethical, or moral – or if you want to do it.
For instance, if your seller said you could only show the home to buyers of a specific race, etc. you’d have to say no. The same would be true if they asked you to help hide some kind of defect in the house.
Sellers coming in from out of the area and asking you to pick them up at an airport 60 miles away would be fine – if you want to and think you really will get the listing.
What about the market analysis?
I never felt that I could create a true market analysis until after I’d toured the property. With few exceptions, homes in our area are widely different in age, size, quality, condition, and location.
You may feel differently, especially if you’re listing in subdivisions where homes are nearly identical. If you do take a market analysis on your first visit, you might want to temper it with a disclaimer – noting that it is something you did without seeing the house. Maintenance and finishes can make a huge difference.
Unless you leave with a signed listing, it’s best not to leave your market analysis behind. Those homeowners will show it to other agents they interview, and some might use it as a tool to tell the homeowners that you’re wrong and their (higher) numbers are right.
Which brings me to real estate listing strategies that are not good…
- Every market has an agent or two who will attempt to “buy” listings by promising selling prices far above market value. Those are the agents who give the industry a bad name.
- Bad-mouthing your competition is not good. It only makes you look bad.
- Making promises you can’t or won’t keep is not good. It will come back to bite you every time.
- Cutting your commission to get the listing is not good. It might get you the listing, but it will erode your self-esteem. It will also set you up to keep cutting, because people talk and the next client will expect the same.
Service during and after the sale should be among your real estate listing strategies…
Why? Because that’s what builds your reputation and leads to repeat business and referrals. The more people love you, the better.
1st Image courtesy of ddpavumba at FreeDigitalPhotos.net
keep sending messages courtesy of Stuart miles at freedigitalphotos.net
Margie Eddings says
I am bringing on an associate and I need some copy written with regards to new marketing as a team. Is this something you do? How do the fees work for something like that? I would also like some help with marketing wording. I have used some of your letters in the past