Taking the Initiative Will Result in More Listings and More Sales
Having listings is the surest path to success as a real estate agent. In this market, however, the opportunity to find new buyers and sellers through your team listings’ open houses is limited because the properties may move too quickly.
One way to offset that loss of new business leads is to maximize prospecting opportunities with your listing’s neighbors. As part of a MicroFarming strategy that we teach our coaching clients, we recommend that teams include the following proven strategies when listing a home in a neighborhood that you would like to continue to list homes within:
Neighborhood Preview: Prior to your first open house (if able to be held, and subject to any in-person restrictions in your area), offer neighbors the opportunity to preview the home in the hour prior to the official start time. Schedule this ASAP after obtaining a signed listing, and distribute promotional material immediately, encouraging neighbors to also share access with anyone they know that might be interested in living in that area. Because listings often get bids and may sell immediately after hitting the market, quickly hosting a Neighborhood Preview will help create more competition for the home and fuel a system for additional business by introducing yourself to your listing’s neighbors.
Under Contract Announcement: Once the home goes under contract, and especially when that happens quickly, distribute another promotional piece highlighting your effectiveness at selling homes in the area. Include a testimonial quote from your client, which you likely be easiest to obtain at this point in time. Most importantly, offer them an opportunity to speak with you about selling their home or simply learning how high of a sales price you may be able to obtain for them. At this specific point in time, you have unique value; you possess a list of buyers that did not win the bidding for your current client’s home, so you can use that exclusive information to create additional demand for neighbors’ homes if they choose to list with you as their agent.
Post-Transfer Marketing: Now that the sales price is public knowledge, you are free to further market to neighbors using whatever information is most useful in creating demand for your services. If the home went over asking price, be sure to feature that. If you have another current listing nearby—especially if under contract—note that. If you are a newer agent or don’t otherwise have other personal listings in the area, use your company’s or team’s history to bolster your neighborhood credentials. The point is that you just sold a home in the neighborhood, and that makes this the best opportunity to establish yourself as the go-to agent for that area.
To the best of your ability, couple mailed or distributed materials with personal visits to the neighbors’ homes, especially those closest to your listing. Face-to-face engagement has a much higher likelihood of resulting in meaningful conversations, so is highly recommended. Also do your best to obtain emails and phone numbers, too, so that you can better keep them informed and provide ongoing market updates.
Follow these steps to establish yourself as the preferred real estate agent in specific neighborhoods, and you will build a consistent listing clientele for years to come!