How to get more listings
Whether you’ve just set up your first estate agency, or whether you have a chain of branches that you oversee, it’s impossible to stay in business without continually gaining new listings. The longer you’ve been in the industry, the more of a reputation and history you’ll have built. Often this means that listings will come to you passively, but it doesn’t hurt to be out there engaging with your local area and community. If you’re newer to the estate agency industry then it will take more active work to gain new listings, but never fear, putting in this effort now will help you gain a solid reputation in your community and put you in great habits for later! To get you started, Hunters have compiled 10 of our favourite tips for finding listings to get you started! Let’s get to it.
Don’t spread yourself too thin
There is nothing like hard work for generating results, right? Well, it’s true that without hard work you’re not going to get anywhere, but in your enthusiasm to get moving it can lead to you spreading yourself too thin and burning out! Hard work is great, but consistent hard work is better. If you’re in a larger area then pick one neighbourhood to focus on initially, building your pace as you build your client base.
Remember that every new person is a prospect
You might have had 2 hours sleep, spilt a coffee down your shirt before you left the house and had to rapidly get changed. Then you arrived at the office found out that your washing machine is broken and your kitchen is flooded, a truly nightmare morning, but you still have to work. Every person who walks through your door, every person that you meet is a potential listing and a new opportunity to network. Saying all of this isn’t meant to be scary or off-putting, it’s just a reminder that every interaction is a new opportunity, so make sure you’re putting your best foot forwards.
Get in touch with local developers
It’s very rare that there will be no new developments on the cards for an area, and whilst you don’t want to tread on toes, you do need to get your foot in the door. Politely approach developers and ask if they’ve agreed to exclusively sell with one agency, and if you’re a good match for the development put yourself forwards! To sell or let properties more quickly, developers will usually engage multiple agents to cover the widest possible base. Be prepared for there to be internal competition though, and other estate agents may not conduct themselves well, intending to bad mouth other firms. The best way to respond to this is to remain professional and courteous throughout, demonstrate that you’re a professional and whatever happens, don’t rise to any provocation.
Take a look at expired listings and homes For Sale By Owner
Over the years estate agents and estate agency have garnered a bad reputation, a single bad experience can poison someone’s perception of the entire industry. This isn’t the only reason that some sellers decide to go on the market without an estate agent, but it can be a factor. So now, not only do you have to put in the effort to win this listing, you also have to overturn any bad perceptions that they have of the industry too!
Ask their permission to get in touch
No one likes spam mail, whether it’s just pestering you in your physical letterbox or whether it’s cluttering up your email inbox, it’s annoying. Cold calls and cold mail are less likely to generate you leads and listings than getting in touch with people who are genuinely interested in your services. By asking people before you get in touch with them, you introduce a level of mutual respect and make a great impression.
Don’t overlook snail mail
Digital is the way forwards, but there is still a place in the market for paper advertising and flyers. It is especially worthwhile when you have achievements you can shout about! If you sold a property in less than a week, or if you secured an offer that’s over the original asking price, be proud and put word out there! Promising the world is one thing, but delivering on your promises is what will set you apart from other estate agents.
Local news matters
Once you’ve gotten permission to contact your prospects, make sure that you stay in their mind and that you keep them updated about relevant property market news. A monthly newsletter that keeps prospects in your target area up to date about local developments and the wider property market will help you gain credibility and authority. If you’re coming towards the end of a hot selling season, let people know about it! It’s not a case of trying to scare prospects into listing, it’s about making sure they get the best price they possibly can.
Host open houses and network your backside off
Even if you’ve only got one listing, it’s a great way to set yourself up for future success. Host an open house event just before or during the time that you have this listing on the market. Of course, you should prioritise inviting potential buyers, but make sure you also invite the neighbours and a couple of prospective sellers. The neighbours will be interested to know how much homes in their immediate area are worth, and prospects will get the chance to see you in action.
Provide value, and don’t expect too much in return.
At Hunters we offer free, no obligation valuations to our prospects. Sometimes it will lead to us securing listings, sometimes, people are just curious about what their home is worth and have absolutely no intention of selling it. Although it can feel infuriating to put in this effort and not have a guaranteed return, it puts you in good standing for when they do come round to selling.
Keep in touch with your buyers
The average home changes hands every 23 years, but it’s becoming increasingly common for properties to change hands 3 or even 4 times in 23 years! Every buyer is a potential seller and you never know what will prompt someone to sell their house, but if they’ve bought with you in the past then (as long as you made a good impression) you’ll be the first person they think of when it comes to selling. Fond gestures such as sending an anniversary card on the date of completion helps you stay top of mind, and remind them of the warm feeling they had the first time they stepped into their new home.
Which of these will work best for you? It’s impossible to say, but we’d love to find out! Let us know in the comments and if you have any other questions about estate agency or becoming a franchisee get in touch! We’re here to get you there.
Source: Hunters Franchising