Every real estate agent knows how lead generation is the foundation of your business. Getting listing leads can be challenging, never more so than when housing inventory is low.
Here are 5 tactics you can implement to get more real estate listing leads.
1. Update your past sales and spread the word
Position yourself as the local expert. By listing your past sales, leads can see how you’re familiar with their neighborhood and the surrounding area. On the minute you close a sale, update your online presence with the details.
Implement a “Just Sold” campaign that lets potential clients know you’re active in their neighborhoods and, experienced in selling certain property types.
Don’t forget to congratulate the new homeowners on your social media channels so your work gathers maximum exposure.
2. Mine your database
Use anniversaries to reach out and see if past clients are ready to move. Whose youngest child just turned 18 and will soon leave for college? Did someone reach retirement age and considering downsizing? Has anyone welcomed a new addition to their family and now needs more space? Look at the pricing histories to see who bought low and might be in a good position to sell now that the market has risen.
Your database might include contacts who reached out through various real estate media sites to ask about a property that wasn’t for sale and expressed their interest in similar properties — or said they owned the home and were looking for a professional estimate. Time is of the essence! Most homeowners only interview one agent before deciding to hire them.
3. Work your sphere of influence
We talked about this is past blogs and yet…When was the last time you made a round of phone calls to your sphere? After catching up, ask if they have any real estate needs or questions for you. If they don’t, do they know anybody who might? Inquire if they would like recent market information or an updated home valuation. Remember to ask them for business and remind them that referrals are your bread and butter. The best leads come from people you know and who know you!
4. Ask buyers
How many times have you asked your buyer clients if they’re also selling a home? Many agents neglect to ask. Your buyer says they are selling their home, pursue it! Why are they selling and where is the home located? Can you be of assistance?
Buyers who attend open houses might not be clients (yet), but they might be potential sellers, so engage with them there and inquire about their status.
5. Offer valuable market information
Typically sellers start off asking what their home is worth, so you should have an idea of what that is as well as the data to back up your figure. But a top agent will go even further: Offer CMAs and market reports that are specific and relevant to their neighborhood. Make the home page of your website a must-see for local sellers. Offer free home valuations when they provide you with their home details and contact information. Give them useful information — charts, graphs and whitepapers — that position you as the local real estate expert.
In a low-inventory market, seller leads can be challenging to find. Go forth with a nose-to-the-grindstone to pursue them in battle.