5 Ways to Make a Real Estate Comeback
By Verl Workman
The last several years have been filled with challenges associated with too much inventory, distressed properties and even more distressed sellers, agents working hard only to have deals fail, and so on. During this time, I discovered that there are two types of agents: those who adjusted their business accordingly and put themselves in the middle of the available business, and those who did not. Those who excelled helped a lot of people out of difficult situations and assisted the banks in getting properties back on the market and sold. The other group cut their spending, tightened their belts and went into survival mode. Now the wind is blowing in a more favorable direction and it’s time for the ultimate comeback.
Today, the game is all about gaining listings in order to control marketshare. When you list a home, every agent with buyers is scrambling to get their offers in. On the flip side, if you have a buyer, you sometimes must compete with dozens of other buyers and agents that want that same house. It’s not rocket science that if you have the listings, you have a greater chance of success in this ever-changing market.
So, how do we stage our own personal ultimate comeback? We list! If you want more listings, you may want to follow a few of these proven strategies:
1. Really work your database. Be in constant contact with your real relationships so they know how strong the market has become and that you’re ready and willing to help. In addition, increase the touches you have with your “A” clients so you stay top of mind.
2. Work your farm at a higher level. A postcard every other month is not enough. Focus your mailings on the seller and what’s in it for them. Work the neighborhoods and become part of the fabric of the community.
3. Work expired listings and FSBOs. There are sellers out there who have a desire, at some level, to sell their home. Change your scripts and dialogue to offer real value and follow up until they list. Consistent follow up and value wins; don’t give up after one phone call. Deliver items of value, and remember that you’ll probably hear “no” seven times before you get a “yes.”
4. Ask every buyer if they need to sell their home. I know this sounds simple, but we are so good at generating buyer leads from sign calls, floor time, the Internet and social media that we often fail to realize that many of these buyers need to sell their homes as well. So ask the question, “Will you be selling a home in order to purchase your next one?”
5. Reach out to investors. Call on For Rent signs and find property owners to see if they would consider an offer and then follow up.
There are a lot of things you can do to generate listings. The market is there and buyers are buying. We can’t control what happens to the market; we can, however, control our own behavior and decide right now that we are going to be in the middle of this ultimate comeback by doing the right things every day that move us closer to dominating the listings in our markets.
Verl Workman is a speaker, coach, business consultant and president of the Top 5 in RealEstate Network®.
For more information, visit www.VerlWorkman.com.
Reprinted with permission from RISMedia. ©2013. All rights reserved.