Gary Keller summed up the best strategy for winning more real estate business in 2014 when he said "Whoever owns the listings, owns the market," during his Vision Speech on Monday.
Gene Rivers, KWU International Faculty Member and a member of the Rivers Team in Tallahassee, Fla. presented tips for gaining market share through listings. He opened his session with one powerful quote from Leonardo Da Vinci: “It had long since come to my attention that people of accomplishment rarely sat back and let things happen to them. They went out and happened to things.”
First: Focus on one geographic area. “Become the Neighborhood Real Estate Expert!” Rivers proclaimed enthusiastically throughout his presentation.
By focusing on one area, you can become the expert on values, school districts, area news and events and build a strong network in that area for referrals. Once you have a hold on one area, it is much easier to expand into others as you have already built recognition.
Second: Focus on getting listings. Most agents find it easier to get buyer leads than listing leads, but you need to focus more on listing leads, and the buyer leads will follow. “Get marketable listings and you’ll get all the buyers you can stand,” said Rivers.
Third: Put a lead generation system in place. Rivers recommended a number of unique ways to find and capture leads:
Use your sphere: Talk to others and find out what’s going on in the neighborhood. Use all methods of communication including mail, face-to-face conversations and phone calls. Create an annual selling guide based on the local and national market data.
Pick up expired listings: Call the owners – do whatever you have to do to get in touch with them. See the house so you can tell them what you will do differently to sell it. Expired listings are fruitful as very few agents consistently work them.
Look at FSBOs: Give the owners a presentation on how to see your house and provide them with a 90 day plan to sell it themselves or with you. Give them market reports so they know what they are up against and offer a weekly consulting call. This is all about bridging their efforts to yours. It offers opportunity to show your knowledge and experience. The bottom line: It doesn’t ever work against you to help people.
Farming: Do your research in the area where you choose to become an expert. The ideal demographic is a family with mobility, one that has dual income and two or three children. Door knock in the area to get to know more about what’s happening with neighbors – find out if anyone is looking to move soon.
Work with builders: You can provide a lot of service to a local builder in an area with a lot of new construction. Offer consultation services and sales. Create a new construction guide to share with the neighborhood.
Consider relocation services: Offer relocation packages to make the process easier for the people moving. Consider working with vendor partners who do corporate relocation. Another way to approach relocation is to work directly with HR departments at local companies who may be looking to relocate an employee.
Work the Web: Don’t forget about your Web presence. Make this presence reflect that you are the neighborhood real estate expert. Use terms and descriptions relevant to your area to make it easy for people to find you.