Ah, spring. Unfortunately, this one looks a lot like last spring, with tons of buyer demand and a small supply of homes for them to buy.
Homeowners who do decide to sell are the big winners while buyers and real estate agents are hungry for more homes to hit the market.
Getting listing leads quickly in this market may seem impossible, but it’s not. No, it isn’t easy, but it is possible.
1. Go after starter homes
Starter homes are not only in high demand right now, but, as you know, they’re in very short supply.
Sure, a homeowner’s reluctance to sell has a lot to do with the shortage, and many of them are afraid they can’t afford their next home. Would they feel the same if they had an idea of how much equity they’re sitting on?
Farming, via direct mail, is the best way to reach out to and educate these homeowners. Start by narrowing the audience to those who’ve owned their homes for more than 10 years.
Then, create a very simple direct mail piece that highlights the equity these owners have accumulated. The ProspectsPLUS! Call To Action Series has a postcard that offers a “Free Home Equity Analysis”, an ideal marketing piece for this situation.
For instance, Maurie Backman at fool.com (quoting stats from Black Knight) says that “At the end of 2021, home equity grew to $9.9 trillion on a national level. That’s a 35% increase from the previous year. It also leaves the average homeowner with $185,000 of tappable equity.”
If you can localize those stats, all the better. But, overall, don’t you agree that $185,000 sounds good right about now to a lot of homeowners?
2. Do more socializing
With the weather outside no longer frightful, and millions of Americans have had, or will receive, the anti-COVID jab, it may be time to consider a client appreciation event.
This one, however, will have a twist: it will be a potential client appreciation event.
The goal here is to extend your brand recognition to those potential sellers in your farming area. Hold the event outdoors, preferably in a park near their homes.
Agents we’ve spoken with offer up the following ideas:
- A barbecue
- Movie night
- Ice cream social
- Block party
- Outdoor concert
- A day at a sporting event (this is best for your two or three most promising leads)
- Seller seminar
The invitation sent to your farm should be, again, simple yet attractive. If the event is family-friendly, let them know.
3. Take a dip into your CRM
When was the last time you went fishing in your CRM? It’s a rich source of possibly quick business that too many agents ignore.
Since warm calls are always easier than cold calls, start with past clients and call each of them. Explain the lack of inventory and ask if they know anyone who is thinking of selling.
Then, dive deeper into old leads, especially those for whom you supplied a listing presentation and they ended up not selling. All seller leads in your database, regardless of age, should get a phone call.
Finally, call everyone in your SOI to see if they know anyone who is thinking of selling.
End this project by ensuring that everyone you’ve spoken with is put on a scheduled campaign.
Yes, these are old-school techniques, but they are also tried and true. If you need listings relatively quickly, try one. What have you got to lose?
PLUS: When you have time…below are some marketing tools to help support your success.
1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine
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Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and, it costs less than sending a greeting card! – Click Here
2. The Free 12 Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, niche Markets, geographic farming, sphere of influence, and past clients. – Click Here
3. The BusinessBase, SOI building system
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4. The Free Interactive Real Estate Business Plan
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5. The Become a Listing Legend Free eBook
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6. The Take a Listing Today Podcast
Watch the ProspectsPLUS!, Take a Listing Today Podcast for actionable content to help you get more listings. – Click Here