There are multiple strategies for getting more listing leads. You could buy them through a lead generation platform, but there is often a time lag before that seller is ready to list.
Cold calling can work if the prospect on the other side of the call is thinking about selling. Agents with good conversion rates stay connected by offering hyper-local, relevant data through multiple channels until that prospect is ready to sell. Without that consistent touch system, the connection becomes weak, and the original time invested in the lead is lost.
Farming is another terrific way to get more listings, but if you haven’t invested in “seeding” your farm and maintaining the outreach, it could take over a year to convert a prospect to a listing.
Instead of waiting for more listings to come on the market, here are a few simple ways to be proactive instead of reactive:
1. Contact your Top 50 MVP (most valuable people) and let them know that the market is generating opportunities for sellers. Explain that the combination of high demand and low interest rates is driving prices up, making this the perfect time to trade up or down. Ask if they know of anyone who may be considering a housing change who you could help, then inquire as to how you can support them in their business with referrals. Follow-up with a handwritten thank you note.
2. Use “circle prospecting” to create interest among homeowners close to a newly listed home. This initiative is designed to target the 10 properties on either side of the new listing as well as the 20 across the street with a flyer or postcard. Caption the first touch with “Guess what your neighbors did last night?” to let them know their neighbor is moving. The question piques interest and creates more engagement than the general “Just Listed” announcement.
The second touch informs the target group with a flyer or postcard stating, “Guess what happened to your neighbors?” This announcement lets them know that the property has sold and they have a new neighbor moving into their neighborhood. This is a great way to send the message that buyers are looking to live in their neighborhood and to contact you if they know of anyone who may be interested in selling.
The third touch announces that the new neighbors have moved in. This is another opportunity to share that their neighborhood is in high demand. Give them the option for a no-obligation, in-person or virtual meeting. Also include options for those who are not interested in selling at this time, such as:
– A fresh market update on their immediate area
– An offer to meet with an insurance professional to determine if they are underinsured given the new rise in property values
– A no-obligation review with your lender partner to discuss options for leveraging high home equity for income or for trading up or down. In addition, offering an annual mortgage review can eliminate issues like private mortgage insurance and higher interest rates, providing the homeowner with other more suitable mortgage solutions.
Don’t sit around and wait! Get more listings with relevant value and intentional connection.
Terri Murphy is an author, TED Talk speaker and master coach with Workman Success Systems. She is the author of five books and the founder of the Women’s Wisdom Network. Contact her at Terri@TerriMurphy.com.