Many real estate markets in the country today are suffering from low inventory. So, many agents are wondering how to get more listings in today’s market? These key tips, along with hard work and determination, will help you to get more listings coming your way, even when the market is slow.
Direct Response Mailings
Direct mail or door hangars don’t have the same flair as many of the fancier digital marketing approaches, but done well, they can be very effective. For best results, you need to use a direct response strategy.
You’re probably familiar with standard direct mail pieces – they usually introduce you as a local agent and invite the homeowner to contact you for outstanding service. People typically throw that type of postcard away because it doesn’t engage them.
Direct response marketing gives the homeowner a reason to engage with you. Always make the topic of the postcard something that the reader will want to take advantage of. Perhaps it’s a guide called “Top 10 Mistakes Home Sellers Make,” a guide called “Top 5 Things Every Homeowner Needs to Do Before Selling Their Home,” a chart showing sold prices for homes in the neighborhood, or local real estate market data such as Days on Market and List to Sales Price Ratios. Think of topics by reviewing the types of information that you know, but that homeowners can’t obtain easily.
Then, invite the homeowner to visit your website to obtain the information you’re offering. People are more likely to visit your website than to give you a call if they don’t know you. Once you have them on your website, you’re in a position to obtain their contact information and start to create a relationship.
Contact Expired or Withdrawn Listing Homeowners
This is a traditional approach to getting more listings, but it’s particularly effective in today’s market. Very often, homes won’t sell because of price. What many homeowners don’t know is that prices have risen in many real estate markets. It’s possible that their price isn’t unreasonable now.
This also gives you an opportunity to reinforce the reasons why the homeowner should list with you. Focus on your competitive advantages as a listing agent. For example, they may not have had access to a house showing feedback system in the past. As a result, they never really knew why buyers weren’t interested in their home. If you can offer them that type of a tool, they may be more interested in learning more about your marketing approach.
Stay in Touch with Past Clients
Another tip you’ve heard a million times. But, be honest. Do you have an active real estate CRM set up? Do you stay in touch with past clients, both buyers and sellers? If not, you’re missing an excellent opportunity for getting more listings.
According to NAR research, the majority of consumers say they would use their agent again in the future, but only a small percent of those consumers actually do. Why? Because they’ve forgotten the agent’s name, or haven’t heard from them in so long, it would take time to track them down. So, when they get a referral from a friend, or a great series of postcards from another agent, they simply hire them to list their home. The effort you expend staying in touch with past clients will pay off over and over again in new business.
Don’t let a slow market with low inventory keep you from getting the listings you need to succeed. Challenge yourself to put these tips to work for you today. You may find you get positive results faster than you thought!