If you’re a new real estate agent who doesn’t have a big network or lots of advertising dollars to throw around, you might think that cold calling is the only way to pick up new listings. However, nothing could be further from the truth. There are dozens of creative (and sometimes simple) ways to generate listings and grow your business. You just have to be willing to try new things and see what sticks.
4 Tricks for Getting Listings
In the early days of being a real estate agent, it can be difficult to get those first few listings. People want to work with experienced agents, and your “rookie” status can hold you back somewhat. However, you have to start somewhere. People aren’t going to proactively call you and ask you to list their property if you don’t first put yourself out there.
Here are several tricks you can use to get listings – without placing a single cold call.
- Talk About Real Estate…Everywhere
If you’re a real estate agent, chances are you’re passionate about homes, neighborhoods, architecture, or some element of each. And what do people do when they’re passionate about something? They want to talk about it. So the question is, are you spending enough time talking about real estate to your friends, neighbors, or coworkers?
People in your immediate sphere of influence are going to be your greatest source of listings in the early days. (Whether they personally choose to list with you, or they refer you to a friend.) But it’s not enough for these people to know that you’re a real estate agent. (Everyone knows multiple real estate agents.) They have to know you as the person who lives and breathes real estate – the person “in the know.”
Start talking about real estate everywhere you go. (Not in a salesy way, but naturally.) Make offhand comments about different houses, the state of the market, interesting stories you’ve heard, trends you see developing. You’d be surprised how many homeowners love “talking shop” about the local market. This is a great way to position yourself as an authority in the neighborhood.
- Send Out Postcards
As Gary Keller once pointed out, “Reinventing the wheel every time is just plain exhausting.” But the good news is that you don’t have to. Sometimes the most traditional methods of lead generation are the most effective.
For example, try buying addresses in a specific zip code and sending out real estate postcards. It remains one of the most cost-effective and high-returning ways to spend a few hundred bucks on marketing. After several months of sending regular postcards, you’ll usually start to field a few phone calls. And if you can get even just one listing, it’ll make it all worth it in the end.
- Write Letters to FSBOs
Most agents see FSBO listings and just think, “Well, looks like I missed out on that one!” But if you’re serious about drumming up business, never consider a FSBO listing as being out of reach. Instead, see them as opportunities.
The best approach is to send a series of mailers (ideally five or more over a period of several weeks) where you highlight some of the pain points of selling your own property and mention a few of the ways you can help. You don’t want to be accusatory, but you do want to acknowledge that you can smooth over the challenges they’re most likely facing.
- Network With Local Service Providers
Small local banks, electricians, home inspectors, insurance agents, marriage counselors – almost every local service provider is actively looking for new business. So why not pool some resources together and help each other out?
Consider finding other service providers in your area who are in a similar stage of business as you and create a referral group. Meet with everyone once per month and discuss strategies for referring business to one another.
Grow Your Business
The real estate business is built on momentum. When you first start out, you don’t have any momentum to power you, which can mean lots of slow days without any activity. But by putting yourself out there over and over again, you’ll eventually strike gold. And once you get that first listing, it has a way of turning into two. Then with two listings under your belt, your chances of getting a referral double, and so on. That’s how you build a successful business. It can be tough work getting those first two to five listings. But once they’re under your belt, the natural flow of leads will eventually follow.
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