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“How can I get more listings?” It’s the one question every agent is asking. One of the best strategies for boosting business (particularly in a tight-inventory market), is to get better at generating seller leads.
But do you ever feel like every strategy you try just doesn’t generate results? Getting seller leads isn’t easy, and it requires plenty of patience for trial and error. Great listing agents have two things in common. A system for (A) where their leads come from, and (B) how they manage them once they’ve captured their information.
We’ve mapped out three foolproof strategies that anyone on the team can do to re-energize their lead generation.
1. How Prospecting Leads Can be Smarter
You likely have some viable seller leads in your database that you’ve written off as “trash leads.”
- “I’m just looking right now.”
- “We haven’t found the right house yet.”
- “We’re thinking about selling, but it’s just not the right time.”
Sound familiar? These leads that have the potential to convert down the road tend to pile up. Without a system in place, they tend to fall by the wayside. You don’t have time to play cat and mouse, and that’s where smart prospecting comes in. The idea is to keep every lead properly tagged and plugged into plans that will keep them engaged, while giving you the freedom to focus on the hottest leads that are most likely to convert.
You can break down Smart Prospecting into 3 steps. Organize, Optimize, and Automate.
Ever heard the saying, “A year from now you’ll wish you had started today”? Smart prospecting streamlines your process so you can work smarter (not harder), and improve your ROI over time. Being intentional with how you categorize and contact your leads, paired with technology that automates the grunt work – now that is a formula for success.
2. Door Knocking Still Performs
It may feel a little old school, but don’t knock it till you try it! Door knocking has been around for decades, and has proven for many agents to be a tried-and-true method of generating new seller leads. Other than taking up a few hours of your time, it’s a marketing effort that takes very little investment. And if the reward is a few new seller leads, we think it’s worth it.
According to pro-door-knocker Dylan Hale (from Go Realty), you don’t have to do an uncomfortable “hard sell,” which can feel aggressive. Door knocking can be more casual and conversational, while still drumming up leads.
Before you hit the pavement, here are a few tips.
Do your research! Every neighborhood is different, and door knocking can be wildly successful in one area while a total dud in another. Learn as much as you possibly can about the neighborhood, including: average price point, how many homes have sold recently, and whether or not it’s a seller’s market. Turn this data into something meaningful for a homeowner.
- How much can I sell for?
- How fast will it sell?
Less selling, more sharing. One tactic that Dylan recommends, is asking for a couple of favors (The Benjamin Franklin Effect). People are more likely to do a favor after they’ve already done one. By asking questions and exchanging information, you position yourself as a trustworthy agent doing your due diligence.
Favor 1 Example: “I was wondering if you’d do me the favor of just sharing any insight you have on the neighborhood! I want to know every in-and-out so I can share specifics with buyers in the area.”
Favor 2 Example: “Thank you so much, this is all so helpful! Would you mind sharing your email with me? I’d love to connect if I have any follow-up questions. I’m also more than happy to share some info on how homes are selling in the area, if you are ever interested.
As always, measure your ROI. Keep track of how many hours you spend door-knocking, how many leads you generate, and how many of those leads are converted to deals. This will allow you to look at the money you’ve made as a result of door-knocking and decide if the time investment is worth the reward. It will be different in every neighborhood, but according to Dylan, his average is about 5 seller leads = 1 hour.
- Dress professionally
- Be brief and pleasant
- Do not stand aggressively or too close to the doorway
- Always carry business cards
- Have your CRM’s mobile App ready to put notes in your lead profile
3. Using Your Skills as a Buyer’s Agent to Attract Sellers
Just because you’re a buyer’s agent, doesn’t mean you can’t turn leads into seller opportunities. It’s totally possible if you position yourself as the “problem-solver” and the best possible buyer’s agent.
Think about it… people usually start looking at homes before they’ve committed to selling theirs. During that process, if you provide superior service, who do you think they’ll want to list their home with? That’s right – you!
Consider these numbers. In 2017, 76% of all home sellers were married couples who moved the median distance of only 12 miles from their old home. The #1 reason why they moved, was because their house was too small. This shows that the majority of sellers are in a classic upgrade scenario.
It’s a low-inventory market right now, which means it’s tough to be a buyer. Which is where you come in. Instead of doing the “hard-sell,” to get their listings, show them that you can solve their problems.
- Give them advice on competing with multiple offers
- Educate them on more financing options
- Introduce them to a totally new neighborhood
This is a strategy that any agent can aspire to using successfully. And one that brokers encourage, because it results in: more transactions, more referrals, repeat clients, and friendly competition between agents.
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Meet Joanna Harrison. She creates content to show people how BoomTown can make their real estate business more successful. BoomTown provides world-class lead generation, consumer websites, and CRM technology all in one platform. To learn why 40,000+ of the industry’s best real estate professionals choose BoomTown, visit our website: boomtownroi.com.