Right now we're in a low inventory market
Your ability to generate and sell listings is key to your success as an agent. But what can you do if the listings start to dry up, like in our current market? Don’t panic, here are six ideas you can try to find more listings.
Farming is one of the most effective ways you can generate listings for your business. Working an area or neighborhood where you are known as the local expert should be the heart and soul of your offline efforts. Be the person who recommends traders, knows where the best schools are, supports local business and is seen making the community a better place. Combine this with strategically planned calls, hyper-local social media ads and emailing and the leads will soon come.
OK, so they won’t be 100% your listings, but in this market, now is the time to engage with other agents. It is an easy solution hiding in plain sight. You may not have many listings right now, but you will almost certainly have access to buyers. As a RE/MAX Agent you’re in a unique position to take advantage of a global network. Reach out to fellow agents and help them sell their listings by connecting them with buyers and splitting the commission.
Not only does this provide end consumers with an excellent customer experience, but also plugs you in to a new network of potential listings via your new cooperation partner.
Go after the fsbos
This is essentially just a reminder. We all know the potential of getting in contact with FSBOs, especially if their property has been on the market for some time with little to no interest. However, there is always a lot of competition for these sellers, especially now, as the homeowners have already indicated they are looking to sell. The point here is they haven’t found the right agent yet, and with a good listing presentation and the RE/MAX brand behind you, there’s every reason for them to choose you.
LOOK TO YOUR PAST CLIENTS
Checking in with the people you have sold to in the past should be something you’re doing on a regular basis anyway, but even more so in times of low inventory. Leave no stone unturned! These are the people who already know and trust you. It can be as simple as checking in with them via phone call to see if they’re still happy with their new home. This also gives you the chance to see if they are thinking of selling either now or at some point in the future.
By staying in contact with your past clients, and by continuing to add value to their lives even once the sale is completed, they are always going to remember you and choose you again when the time is right.
There are plenty of ways you can create more seller leads via your online platforms. One of the best ways to do this is by using Facebook Ads. For a matter of €50 you can reach thousands of people in your local area (depending on your area) and drive them to your website, encourage them to contact you via messenger, call your phone or simply watch a video.
If you already have a strong social media presence, you can encourage people who have viewed your page or content and their friends, to get in touch with you. It’s important to offer them something they will be interested in, such as a home-valuation or a housing report on the local area. Running a constantly changing offer of Facebook Ads is the number one way to drive more leads.
Tip: Utilize Facebook Lookalike Audiences to get yourself in front of people outside your usual audience. By defining an existing audience, Facebook Ads then creates an audience with similar characteristics to receive your advert.
Get creative with your prospecting techniques and cluster your efforts around a known listing – even better if it is one of your own existing listings. This surprisingly simple technique can generate a huge number of new conversations and introduce you to a wealth of leads outside of your sphere of influence.
Locate a property, or choose one of your own listings, that has recently seen some kind of activity such as an open house, recently listed or received viewings. Reach out to ten people living around that property, or in the same apartment building, and ask them if they would be interested in knowing how much this property, similar to their own, is worth. Ask them if they have any buyers for the property, and close with asking them if they would consider selling their own property in the near future.
Being able to generate listings is the most important skill a real estate agent can learn. Take action on one of the tips above and see how it will positively affect your business in times of low inventory.