With fewer listings than buyers in the market right now, getting listings is more important than ever. So what can you do if you’re not getting listings?
Determine the reason why you are not getting listings.
It’s not just “luck of the draw” that’s holding you back. There’s some reason, so use the same approach as you would in determining why a specific house isn’t selling.
Compare not getting listings to a house that didn’t sell.
The special report included in my set of Expired Listing letters, shows homeowners that the way to determine what went wrong is to break it down to when it went wrong. If you aren’t using my letters, you may have written something similar to help you see why the house didn’t sell.
First, at what point did your plans to sell fail?
- Were there no “lookers?”
- Did you get plenty of showings, but no offers?
- Did you get offers, but none you could accept?
- Did you get offers that fell apart during negotiations?
- Did you accept an offer that fell apart before closing?
Once you know that, you have a good idea why the house didn’t sell and what to do to change that outcome.
Now apply similar questions to the problem of not getting listings.
- Are you not getting leads?
- Have you had referrals that didn’t pan out?
- Do you have leads, but few responses?
- Do you get responses that fizzle out?
- Do you have listing appointments that go nowhere?
After you determine where/when things go wrong, it’s time to determine why.
If you aren’t getting leads…
If you’re not getting leads, you’re either not doing enough marketing, not marketing in the right places, or not saying the right things when you reach out to those leads.
If you’re buying leads, it could be that they just aren’t good ones. They may be people who aren’t really interested in selling, or they might not be exclusive. You could be the 10th agent to contact the same people. Perhaps you need a better source.
Think about how and where you’re marketing for leads.
Are you prospecting by mail? If so, are you consistent – sending a minimum of 5 useful messages, close enough together so people remember your name and face from one message to the next?
Do you send a message to every homeowner who checks his or her home value on your website? If so, do you then put them on your list to receive consistent follow-up messages? Consider using my 18 Seller Advice Letters to show them that YOU know how to help them sell for top dollar.
Are you relying on social media? If so, are you engaging with other people and posting information they’ll share?
Are you staying in touch with your past clients and those in your sphere of influence? If so, are you letting them know that you’re interested in them – not just in their future business or possible referrals?
If you have referrals that don’t pan out…
Could it be that you don’t contact them immediately? If you do contact them, do you begin by determining how you can help them?
If they visit your website, are they not happy with what they see in your agent bio? If it’s too generic, they may determine that you’re just an average agent rather than someone special who will help them. Check out my bio page to see how you might make your bio more compelling.
If you have leads but few responses, the problem is likely one of three things:
- They weren’t valid leads.
- You didn’t respond fast enough.
- Your message is lacking.
If you get responses that fizzle out, the problem probably lies in your message.
Remember that marketing is all about the potential client, not about you. So focus on their wants, needs, and concerns. Offer good advice that shows them that you understand, and you have the knowledge, skill, and desire to help them accomplish their goals.
If you go on listing appointments, but you’re still not getting listings…
Think about what you’re saying, how you’re saying it, and how your prospects are reacting. Think about what materials you’re leaving behind.
Do some research ahead of time, so you know something about the house, its previous listings, and the comparable homes that have sold. Then pay attention to how this house might be different from those you chose for comparison. Don’t just throw out a number without doing a bit more work.
Learn something about your prospective clients’ goals. Ask questions and be interested in the answers.
Ask if they’d like to see the marketing materials you use and examples of your previous listings. Ask if they want you to explain your marketing plan and how you’ll use it to market their home. Ask if they have questions about you and how you work.
In other words, give them an opportunity to speak.
If you’ve already done a market analysis, offer to show them how you arrived at the suggested price.
Pay attention to your prospects’ reactions.
If you’re talking and they’re looking at the clock or saying “Yes, I know,” shorten your presentation. When I interviewed agents a few years ago and they droned on and on and on even after I looked at my watch and said “Yes, I know” a dozen times, I could not wait to get them gone. In fact, I finally said I had someplace to be so they’d have to leave. And no, I didn’t invite them back.
If you don’t sign the listing at this appointment, leave behind some information about your track record, a copy of your bio, and some testimonials. Leave a flyer or two showing how you marketed a similar house – one that has been sold.
If you’ve done a market analysis ahead of time, do NOT leave it behind. If they are interviewing several agents, they might share it. An agent trying to buy the listing will use it to convince them that you’re are undervaluing their house.
Send a note…
As soon as you get back home or to the office, send a hand-written note thanking them for their consideration and looking forward to meeting with them again. If possible, get it in the mail the same day. (You WILL stand out from the crowd if you send a hand-written note.)
Remember what your potential clients want…
They want to know how you will help them reach their goals and how you will treat them.
They aren’t interested in how wonderful you are or how many sales awards you’ve won.
They ARE interested in how you speak to them and how willing you are to answer their questions.
They’re also interested in how responsive you’ll be once the listing is signed. They want to know if it will be you, your assistant, or someone in a team of agents who will respond when they have a question. They want to know if you’ll keep them informed and let them know what to expect. If you’re in a market that produces multiple offers, they want to know if they can count on you to help them make the best choice among offers.
Your service and the results you’ll produce are what count.