Winning new listings is of course one of the biggest challenges every property agent faces.
There is standard operating procedure and there are outside-the-box efforts when it comes to prospecting for new listings. Successful agents pursue both, which means calling expired listings, reaching out to “For Sale By Owner” properties as well as doing things that make them stand out in the digital arena such as social media engagement and digital ad campaigns. They also say taking an activities-based approach is one of the most effective ways to gain listings. Here we explore six tactics that have helped successful agents acquire new listings and grow their portfolio.
#1 Reach out to your network
Successful agents adopt a proactive, activity-based approach towards generating listings and sales. Consistently but not obsessively call, text and send messages on social media about your role as a realtor and don't stop after a single effort. It's unlikely that people will appoint you or give you a referral after speaking or texting back to you once. It is imperative to reach out regularly – at least once every two months - to stay on the top of their minds.
#2 Engage in content marketing
Most successful real estate agents select a niche in the market, whether they are catering to first-time homebuyers or selling multi-unit properties. Then they build their brand and reputation with clever social media and digital ad campaigns to attract more potential sellers. This includes posting blogs, creating social media memes, producing beautiful videos and images and print materials to tell the stories of homes that are up for sale and advice and tips for prospective buyers and sellers.
Savvy content marketing efforts are cumulative, which means every piece of content you produce to build your personal brand will eventually help expand your portfolio. Be consistent with your tone, look and message, and use web analytics to track what kind of content is getting the most results.
#3 Collect data about your area
Deep knowledge is power in real estate. Both buyers and sellers respect agents who know things they don’t know and can speak intelligently about trends, new laws or long-term economic outlooks for an area. To be knowledgeable, get involved in your local government. Attend city council meetings or chamber meetings and learn how your town or city works from all angles. Understand the schools, demographics of the area, transportation, educational facilities and any other issues like zoning, etc.
Get your hands on as many statistics as you can and memorise them so that when you meet someone who asks, “How's the market?”, you will be able to answer in an intelligent, authoritative way. This will create a good impression and they are likely to remember you as the person to call when they want to put their property up for sale.
#4 Focus on securing first appointments
Key performance indicators (KPI) such as leads, first appointments, service agreements, contracts executed, and sales or leases signed are the foundation of any real estate business plan. And the holy grail of KPI is appointments, appointments, appointments.
Score that first appointment by knocking on doors, doing mailings, holding open houses, and building up your email contact list. Most agents say 30 to 50 per cent of the clients they meet with on a first appointment are likely to become customers if follow up is carried out diligently.
#5 Get involved in your community
Connecting with your community - whether its church groups, book clubs, soccer teams, school events, et cetera - in also a meaningful way to naturally grow your network of contacts and referrals. Make sure it is something you love so people know you are sincere and not doing it “only for the business”. Many successful real estate agents have a passion for the community in which they live in and it helps to take a problem-solving attitude from securing a home loan to fixing a crumbling driveway.
#6 Form relationships
Once you have made contact with a prospective seller, strive to form a relationship. Build their trust in you and let them know that you value them more than just getting your commission. Be sincere in helping them with all their questions.
One thing technology will have a hard time replacing is relationships. Successful agents tend to serve on boards, volunteer their time, don't miss a single chamber meeting and are fully integrated into the community they serve because people prefer to deal with people they like and already know.
Amp up the trust quota and let them see not just the professional skills but also your character as a trustworthy and reliable broker. Put their needs first instead of your eagerness to sign them on. That attitude will come in handy later when they recommend you to other friends and associates who are looking to sell a property like they did with you.
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