With fewer trades to make, many falling markets, and more agents than ever before, it makes business sense to hit the fundamentals. That’s why at Inman, we’re going back to basics with curated throwbacks to some of our most-read stories as well as new agent ideas in the field – all culminating in Inman’s Autumn Market Playbooka two-day virtual event you should plan to attend.
If we had a Magic 8 Ball real estate and asked if more listings were coming to market, I’m pretty sure he would say “all signs point to it”.
There are a lot of ways to generate listings in any marketplace for little investment other than time. This should make the most thrifty and budget-conscious happy, whether you’re brand new to the industry or a seasoned, thrifty veteran.
1. Call current FSBOs
I love FSBOs. They were the foundation of my business when I started in this industry at the age of 19. Some people think they are tough. And I’m not going to lie, I’ve encountered my fair share of grumpy FSBOs, especially making my bones in NYC real estate.
But once you understand that you can absolutely help them get more for their home and better protect their family and investments – then communicate this to them – you’ll want to call at least one of them a day.
Click here to learn more about how to earn FSBOs.
2. Call expired
Same thing here. Although some are a little rough around the edges because they’ve been disappointed by past experiences, you know they’re both motivated to sell and familiar with working with an agent.
The secret here is to listen well and help them understand how you can help them achieve their goals with a smoother transaction and more confidence than they have had in the past.
3. Ask your broker about ‘orphans’
No. No grandchildren without parents. I call the client files of agents who have left your company “orphaned” because no current representative of your organization is watching over them.
Take this coat.
Call them and let them know that you handle cases for agents who are no longer with your company and that you are happy to introduce yourself as their service representative. Let them know the market is changing, and for many people that means questions about their home buying and selling power and that you are here to help answer those kinds of questions.
4. Hold open days for your listing
I believe open houses are one of the most underrated ways to generate now Company. They are a treasure trove of branding leads and opportunities.
Got a list? Organize open houses as often as possible. It’s like having “office hours” for the communities you want to serve. Win your next open house with these smart lead capture apps.
5. Hold public open houses for another agent’s roster
New to the business and don’t have much of your own business yet? Volunteer to host open houses for top agents who are too busy or don’t want to host their own.
6. Host neighborhood open houses for your or your teammate’s ad
Neighborhood open houses are an amazing way to eliminate shoppers’ eyes. Send an elegant invitation to at least 50-100 neighbors around the list, letting them know you’re having a special open house just for the neighbors and the landlord won’t be home.
Take out not only nosy neighbors – but also the two or three (or more) who have been thinking to sell and wonder how much they can get for their own home.
7. Go door-to-door with a valuable coin
Don’t go door to door. This “old-fashioned” agricultural method brings considerable results to many agents. This adage that everything old is new is relevant again.
Going face to face with people from neighborhood farms and offering them what we call a neighborhood market report certificate, which is really just a certificate for a CMA or price assessment.
People naturally want to know what their property is worth in a changing market. It’s a great way to show them that you are the agent to help them.
8. SMILE Stops to old customers
We are big fans of what we call SMILE stops (S-Service, M-Meet face-to-face, I-Invite a conversation, L-Leave behind a small gift of gratitude, E-Elevate the Relationship). Small visitation opportunities with former customers with a fun and memorable gift.
It’s a great way to make a big impression, solidify relationships, spark conversations and keep your name top of mind (in times when it’s After important than ever.)
Here are some pop-by ideas:
- Pizza cutter with a note: “However you cut it, I have the answers you need to get the best price for your home.”
- Ice cream scoop with a note, “I want the inside scoop on what this market means for your home value? Call me.”
- Bottle of Simply Lemonade with a note: “You are SIMPLY the BEST.” Thank you for being an excellent customer.
9. Newsletter Campaign
I’m a big fan of direct mail – but I believe it’s only effective if done consistently, which can be costly for agents who might be very budget conscious right now. This is where a weekly or monthly email newsletter can come in handy.
Like its direct mail counterpart, you need to be consistent. It’s a great way to keep in touch with past clients and people in the farming area without feeling too pushy or pushy.
10. Leverage Supplier Relationships
Meet with vendors and discuss sharing leads and marketing or advertising campaigns. This way, everybody expands their reach and networks, and the cost is spread.
11. Handwritten notes to people in your sphere, farm, or both
One of the most inspiring strategies our coaching members have found for them over the past two crazy years is the power of a handwritten note.
It ranks among the most productive activities agents have found. So much so that many top producers make it a weekly habit to send at least five handwritten notes to former clients or people in their field per week. It’s a great way to reach out, improve relationships, bond, and remind people you’re there for them.
12. Call houses for rent to ask the owner if they plan to sell
There are plenty of owners who are no longer owners and would like to cash in on their investment and get the best price for their properties before the market swings too far towards buyers. Let them know you can help them.
13. Become a business partner for the PTA/PTSA in your area
My good friend and president of my company, Julie Escobar, always reminds me of this one. She’s run many PTAs in her time, and she tells how agents who joined forces with their local schools got as much as they gave in terms of value and it just makes sense.
When you actively partner with parents, teachers, and administrators to help improve area schools for children, it’s easy to look like a hero. This is the perfect time of year to reach out to school management in your market and learn how you can join forces.
14. Create a community Facebook page
I love this strategy. In fact, we recently interviewed top agent Traci Palmero — it’s been one of the go-to tools since she started in the business seven years ago and went from zero to six figures during her first full year. here’s some informationsyous on how to do it.
15. Find an existing Facebook group in your community and actively contribute
Almost every neighborhood or community has a dedicated residents group or page these days where people can ask for recommendations, get information, tap into local news, and get the latest scoop on the area.
Find those who represent the communities you serve and start sharing. The best rule of thumb is for every six contributions, you can post something about real estate. In these communities, your posts should not be just announcements, sales and open houses. They should be real estate advice, strategies and ideas.
Know that you don’t have to break the bank to get listings on this market, especially as a new agent. Think inside the box, think outside the box and harness powerful resources that will help you earn more in less time with much more fun.
Darryl Davis is a speaker, coach and bestselling author of How to Become a Power Agent in Real Estateas well as the CEO of Darryl Davis Seminars. He currently hosts free weekly webinars to help agents navigate the changing market and craft smile-worthy careers. Learn more about his website or connect with him on Facebook Where Youtube.