Real estate is a tough business no matter which way you look at it.
There are many competitors in the market and you don’t get paid until the property sells.
Much of the leg work you do to get all of these listings won’t be realised in terms of commission until many months later.
It can be difficult to keep up motivation, especially if you’ve hit a slump and the listings just aren’t coming in. If you’re a long-term planner – and most agents are, given the nature of what they do – you’ll know that this means no income and no revenue in a few months’ time.
So, what’s the best way to increase your listings?
1. Increase your brand
This is most definitely a long-term approach. Without a strong brand, you’re not giving yourself the best chance of winning the listing, even if you manage to land an interview with the potential vendors.
What does building a brand include?
- Being proactive on social media: Join specific groups related to your target postcodes and suburbs. You’ll be ready and available should anyone start talking real estate. Remember to interact, not spam these people. Your aim is to gain trust by being an active member of the group, not using it as your open advertising platform.
- Write blogs: Although you may feel that writing is not your natural forte, you’ll be surprised by the knowledge you hold about your area of expertise. If your agency has a blog, aim to be a regular contributor. Your name will show in searches and help you become established as an expert in the area.
2. Think outside the box
While divorce and inheritance are common in today’s society, these may not feel like the nicest times to contact someone regarding a property listing.
Make no mistake though, these are times when someone will need an expert who can handle things quickly and efficiently for them and an agent can be invaluable to someone in these situations looking to sell.
The key is to allow them to find you. The best way is debatable and may of course not be the same in every case.
Set yourself up with a facebook page or write a blog as mentioned above.
You’re guaranteed that not many agents will want to tackle this head on and being an agent who is up front about the challenges people face in these situations when it comes to selling a home will put you in a good place when it comes to choosing an agent.
There are, of course, more direct methods such as sending personalised letters to the address of the deceased estate however your sentiment needs to be very carefully worded and the letter timed so as not to be insensitive.
3. Partner with other businesses
Think of partnering with a business that comes into contact with people actively buying or selling property. This could be conveyancers, mortgage brokers or even smaller lenders.
Approach them with your personal intent for the potential shared client and discuss how you too can reciprocate with any referrals to them.
Like you, they are also looking to grow their business so a savvy, combined approach could be just what they’ve been looking for.
4. Build your CRM
One of the most essential elements to building a business or brand is to remain in contact with your clients.
It’s rare today that someone will live in the same home for their entire life and with more people willing to invest in property for its stability, the prospects for new clients are endless.
Remaining in contact with these clients will ensure you are top of mind when it comes time to upgrade, downsize, buy a new investment or sell up.
Be sure to keep detailed records of your clients including birthdays, likes, dislikes etc. This will allow you to provide them with a highly personalised service years down the track, further emphasising that they made the right decision in using an agent they know.
5. Go with the traditional
While trying new tactics is always fresh and exciting, there is nothing wrong with sticking to the traditional approaches as well.
This can be through phone calls, emails, letters, mail outs and good old-fashioned door knocking.
If you’re serious about growing your listings then there should really be no approach that isn’t worth looking into.