Listing and selling houses makes agents and brokerages profitable. In a competitive marketplace, it can be challenging to keep increasing profits. Discover how to get real estate listings and connect with more clients. Use these 10 savvy tips to boost productivity and earn a substantial income as a real estate agent.
Tap Your Sphere of Influence
A sphere of influence (SOI) is the group of people upon which you have influence. Often these are people the agent knows for a while, such as family, friends, and associates. Agents should schedule a time to reach out to at least 10 people in their SOI each week. Use each person’s preferred method of contact to stay connected. Meet for coffee and send cards for occasions. When agents keep in touch with their SOI, they are the first to know when someone is buying, selling, or renting a property.
Explore Past Agent Leads
Many agents get discouraged within the first year and leave the industry. Often these agents leave their leads behind. Some of them could be a viable connection that turns into future listings, buyers, or sellers. Agents should discuss past leads with their broker to find out if there could be any potential prospects tucked away in a file or drawer.
Sellers often feel discouraged when the listing expires, and their home is not yet sold. They might not know what to do next and could become frustrated, trying to sell it independently. Agents can reach out to expired listings by telephone, postcard, or making a personal visit to the property. Be personable and offer meaningful suggestions on how you can help them sell their house faster.
Become a Niche Expert
Niche marketing is a way to target a specific group and provide precisely what they want. Agents who focus on a niche can be regarded as experts on the topic. Write blog articles, post on social media, and share updated news about the niche to attract targeted traffic. Connect with visitors and answer their questions, proving your value when they are ready to list, buy, or sell a property. Better Homes and Gardens® Real Estate agents can tap into the Be Better University® for education, guidance, and niche market ideas.
Comb Garage and Moving Sales
Garage sales can be an indication someone is selling or moving. Search Craigslist and skim local periodicals to find moving sales. Visit the sale and strike up a conversation with the people running it. Find out if they could be ready to list their house or want to find a home to purchase or rent. Give them your business card and let them know you can answer any questions they have about the process. Offering to lend a helping hand at this hectic time can lead to a profitable relationship in the future.
Turn Sellers to Landlords
When a seller is unable to sell the property, it becomes a stressful situation for everyone involved. The agent may feel like he or she did not do everything possible to sell the property. And sellers could be concerned about cash flow if they needed to sell the house to move forward. Offer to help the sellers temporarily rent the property while they try to sell it so they can earn a steady income. An agent can earn a commission for the rental and maintain a connection with the client by showing a proactive interest in their situation.
Meet For Sale By Owner (FSBO) Sellers in the Neighborhood
Most people who try to sell their homes independently fail because they do not have the resources to market them effectively. Agents have access to MLS and a wide range of marketing tools. Offering this expertise to frustrated sellers is an excellent way to turn a FSBO home into a listing for your office.
Search the public records to look for probates and inherited property. Doing this work can be worthwhile as many people who inherit property decide to sell it. Reach out to them to see if you can help them list, sell, or rent the property as they handle the probate of the estate.
Look for Distressed Properties
Distressed properties might be abandoned or foreclosed. Some of them are properties that are not maintained because of various situations, such as age or illness. Periodically ride around the neighborhood to look for these properties. Use public records to find the owners of the property and contact them to find out if they want to list it.
Owe Back Taxes
Another worthy research project that agents can conduct using public records is to find out which properties owe back taxes. Sometimes property owners decide to sell the house to pay off the taxes owed. Contact the property owners to inquire if they want to list the property. Explain how they can sell the house to pay the taxes and relieve themselves of this obligation. Learning how to get real estate listings is easy when you are creative and willing to do the research and legwork to get them. Listing and selling houses is even more profitable when agents provide the highest level of expertise.