8 Best Strategies to Get More Real Estate Listings in 2020
These are the 8 different ways for you to win more listings. This list includes online and offline methods and both equally are all effective.
You go offline and online, old school and new school. Blending the two,using all the digital approaches and using some work ethic getting on the phone, knocking on doors, doing direct mail, and open houses. You need to blend the two to become a listing dominant agent in the neighborhood.
There is an 87% real estate agent failure rate every five years in this business and there are only two factors; agents don’t have the tools and they don’t take the right action.
So how many people do you have in your email database?You know there’s so much talk about digital marketing and social marketing but email marketing is still the fastest,most effective,and cheapest way to generate business.
That’s where we’re going to start,with two email subject lines.You should send these emails to your entire database.Don’t send both emails back-to-backs because that would be weird,instead choose one to send first.Send it and then wait another two weeks or 30 days and send the next one and watch what happens.
You may have seen these strategies before because they’re very popular and they’re very effective.
Here’s the first question/subject line.
-Are you planning to sell your home in2020?
That’s it. Simple ask,no other statements afterward.Just the subject line.Send that and watch what happens.If you’re sending out to 250 people and you’ve got a 30 percent open rate,you’re going to get some clicks and get some responses.You’re going to get some people that will say no,not interested or not at this time, but there will be people who will say yes and ask how did you know they’ve been thinking about it?Then you’ll know who to engage with.
The fun parts are when you get the occasional response that says “Who are you?”You might want to consider deleting them out of the system!
The second question/email subject line you ask is…
-Have you had any thoughts of selling at today’s prices?
Paying attention to what’s happening around the world with real estate prices,what goes up what goes down. We’re at the beginning of that next phase of a cycle so you’re really actually doing them a great service by letting them know what’s happening on the market.
Now grab your entire email database and start emailing them.
2.) Expired Listings
Speaking of real estate cycles,you know having done this for so many years,we all seethe same data.Things go up and sometimes things go down.
You probably have no idea what I’m talking about if you’ve been an agent for less than 5 or 6 years in the present real estate market. Now you have to do more than hitting the enter button in the MLS and have the property sell.Most agents have been dealing with this“normal real estate market”,remember we’re really in the dual markets,the upper one-third sells slower,lots of inventory –the bottom two-thirds faster if it’s priced correctly.
If it’s a nice home in a nice neighborhood,it could have more offers but if you study your MLS, you’re going to see more and more expired listings and this is an opportunity. The lowest cost,no-brainer approach, and the fastest way to get more listings is the expired listing.
These are probably nice people that put their home on the market probably with the wrong agent who didn’t position their home correctly or “bought” the listing.Plus they likely didn’t have the right photography, the right price,and the right exposure.You have to really expose the property.
When you say expired listings around the office,a few of the agents are going to be so mean that they’re going to try and frighten you about it.Well, it’s probably a top agent who doesn’t want you calling.They want to keep all those listing opportunities for themselves.What you must do is grab the script and just start calling people.
What we have discovered is a third of the people already have decided to relist with their existing agent or have already changed their mind. A third of the people have no interest in selling and a third of them are going list their property right away and that’s the sweet spot opportunity.
As soon as you understand that it’s just a numbers’game and you’re just looking for that magical one-third. It could feel like fishing out of a barrel.
Just make these phone calls. You might not have any packages or all the marketing materials other agents are using right now so just do phone calls because it cost nothing.It takes a little bit of time to call these people and patience.You will likely get angry people who are annoyed with Realtors calling them or people who are upset because of bad experience like a Realtor who called them as soon as their home dropped off the market.
Here’s the best approach;
Assume they’re good people.They’d hang upon you then you call again the next day and say:
“Gosh,you were really upset yesterday. Are you okay?Are you all alright?I just wanted to help yesterday.If I brought you an offer,where are you moving to?Do you have a dream you wanted to go somewhere?”
See the opportunity,probably one out of every four properties in your area could be expiring.You’re doing a good job,they just made the wrong decision.Help them make the right decision and help them sell their home this time.
3.)The Apprentice’s Work Ethic.
To kick-off a new sales profession with no database, no listings,and no leads, you have to train yourself on how to become a professional.
So,here’s the schedule,set a time every morning to do aggressive role play.Begin by role-playing with people to make sure you will be able to handle every one of obvious objections to connect with people and create trust when you’re dealing with the prospect.Prepare yourself for every situation whether it’s a for sale by the owner,an expired,or any situation you could think an agent will face.
At the end of the day,you need to engage,ask good questions,you need to be caring and be compassionate about their situation.You need to be able to showcase empathy for what they’re dealing with.You might not have any of those skills right now so you need to keep on practicing and do a role-play every day.
4.) Making the Calls.
Call every new expired and set a goal of connecting with three in a day.Schedule an hour on the phone for calling your expired listings, then start calling all of your best leads who are the internet leads and the open house leads.
You do that for an hour if needed and then after that, start calling every new for sale by owner in your target neighborhoods.When you think of it, you’ve already done all of that before noon.Then you now have the rest of your day for meeting the leads you’ve already set up for appointments.
5.) Review-based Strategy
Consider the impact that Zillow, GoogleMyBusiness,and Yelp reviews have on agent success.You probably have had clients say they’ve read your reviews and simply call you and say essentially “come list my home.”Now,this is actually not the strategy.It’s for you set it up because you recognize the value of an endorsement.The value of someone saying they used your services and you produce those results and they say they would absolutely use your service again.
Your past clients give you ratings and they post or share it.Now,what if you took that same review strategy and actually asked your seller to write a letter to the neighbors as a just sold letter from your seller to all their neighbors endorsing you?
Now the question is,do the homeowners actually write the letter?Of course not,because they don’t know what to say. You prompt them a little bit and give them ideas or prewrite all or most of the recommendations.
In this case,imagine you just sold a house and they’re happy.You’re already thinking of setting up your just sold reviews.You want to take it to the next level and use the power of that review-based strategy to get more opportunities before anybody else does in the marketplace.
So,you go to your seller and say:
“Thank you so much for all the kind words and I know we’re celebrating and excited your home is sold.How would you feel about writing a letter that I can then mail to everybody in the community?This is the old school version of the Zillow, GoogleMyBusiness and Yelp review.”
They either say yes or no.If you did a great job they’ll definitely say yes and then you say:
“I took the time to draft something based upon our experience of working together. Highlighting the things you said really mattered. I’ve gone ahead and emailed you a copy.Could you just review it,make any adjustments and send it back?”
After that, you print that letter with your contact information but don’t put it on your letterhead.You don’t put your printout in an envelope that’s coming from a real estate company. You should put it in an envelope that any one of the neighbors would send if they were sending out an announcement to the neighborhood.
It’s a hand-addressed,hand-stamped,birthday card-sized envelopes.It’s going to get opened 80-90% of the time.This is an excellent and easy to implement review strategy –both old school and new school.
6.)Live Stream on Social Media.
The next one is powerful,you’re using your smartphone.Imagine you just sold a property and you’re standing in front of it.Grab your phone then go live on Instagram or Facebook.Shoot a video:
“Hey,it’s Terry from Sunshine Realty.I’m standing in front of 377 Sunny Drive.We just sold this property and it’s a firm sale!You know what?The sellers are elated because of our marketing plan but we’ve got a problem,we actually had over 2,750 people look at this home online and we had 21 potential buyers through the property.”
“Guess what,we even had several offers!The challenge now is we have on every happy new neighbor but we’ve got other buyers crying in their soup desperate to find a home in this community.So,if you or someone you know has any interest or thoughts of selling in 2020, would you let me know?Just send me a private message or call me at 604-456-1212 and allow me to have our buyers come and look at your home right away.Thanks again!”
You’re actually interacting with people while you’redoing live. You should be doing this every time you make a sale either on the buy-side or on the sell side,it doesn’t make a difference.If you want to attract more sellers,you know you should boost it on Facebook or advertise it on Instagram so that everybody in the neighborhood knows you’re the agent who knows how to sell homes in the neighborhood.
7.) Geographic Farming.
If you’re a geographic farmer you already know how valuable this is.You already understand that today,a geographic farm for a listing agent is equal to their entire database when it comes to referrals and new opportunities because you’re adopting thousands of people in your community and you’re becoming their hyper-local expert.
What we want to discuss to you about this is a revitalization strategy of your farm.Pay attention if you’re considering a farm for the first time.When you follow this plan,your phone is going to ring.We call it the listing domination campaign.
This assumes you’ve got a property about to be listed.The first thing is you do a direct mail campaign called coming soon. A new property is coming on the market,you can’t give the address but maybe you can show a photo depending on your state’s, province’s or real estate board’s rules.
And now you’ve secured the listing and the property is available,you should start calling and mail an open house invitation.
“Hey, we’ve got an open house coming up in the neighborhood and we want to let you know about it.It’s at 347 Dew Drop Drive on Saturday at 1-3 pm. We hope to see you there.”Work to get a conversation started about the real estate market too.
You can repeat this process for a price reduction too. And when the home sells, you send another letter and mention you have more qualified buyers to match potential neighborhood homes for sale–maybe even their home or a neighbor’s home (work for a referral).
The last one is you mail a market update. You might be thinking that that’s a lot of direct mail, yes. There’s this wonderful thing happening right now,as the world switches from old school to modern approaches,those agents doing direct mail are killing it.
Think about your own direct mail right now,you see bills and even a lot of them have gone away.So,now direct mail is an opportunity for you.Now, since you’re mailing more frequently,they’re going to know who you are,what you do and see your success and that’s it!Your Geographic farm is revitalized.
8.) Partner with other Realtors.
And for those not threatened by helping others, who may be growing a team, you need to be asking yourself how can you deliver more value to everyone.And since more agents are emerging in the market,most of them are not consistent or diversified with their marketing.You go to them and offer:
“Hey if there’s ever a time,where I could be of assistance?I’ve been doing it with a few agents and we’ve partnered 50/50 and you know,everybody wins in the deal.And if I can, I’ll help you to leverage our brand and help you get more business,I’d be honored to do so.
”You’re contributing to each other so everybody gets better.Imagine a newer agent gets a new listing but is not exactly certain how he can market it. You can help each other and have a win-win situation.And another method to grow your real estate team! It’sis another easy,no-brainer way for you to win more listings.
So,we’ve gone through the 8 tips and maybe start to think about your 2020 plan and on how you’re going to win this.You can become really good at what you do. You just need to have a plan and implement it to produce real results as quickly as possible at a low cost. Have the will to do the hard work and always remember,your strategies matter the most when they’re tied to your purpose and your why (and that’s another blog post), so get out there and win 2020 and beyond