It sounds like a loaded question, but the answer is very simple if you’re willing to listen and do something about it.
The real estate industry has not changed although the market has dramatically shifted over the last few years. Because of this, the answer is and will always be the same, LIST MORE! The best part is that the solution is easy if you are ready to take some action steps to make sure it happens.
When I travel the country speaking to different groups I always ask the question “how many of you have gone to visit an expired listing over the last 30 days?” The results are always the same, zero, or next to no hands up. So that is your competition and a good place to start.
“…the answer is and will always be the same, LIST MORE!”
Visit expired listings. Don’t call, mail, email, subscribe to a service or the get involved with the vast inventory of impersonal ways we have adopted in the industry as a way to avoid personal contact.
Pick the listings you want, in the area you want, and in a price range you want. Stop by at least two a day and bring a well prepared pre list package in an overnight envelope to leave in the event they are not home. How can anyone argue that if you stopped by 10 expires a week, 40 per month and started building a large pipe line of potential listings that your inventory would not grow substantially?
This process will not only increase your listing inventory but also your buyer lead generation will soar. Assuming you get 20 new listings they will generate at least 60 buyer calls a month and if you repeat this process the following month you will be busier than ever.
Listing agents have always made the most money in the industry because they spend less time per closed transaction. In addition to this they get the spin off from sign calls, online calls from listing being loaded on major web sites, not to mention referrals and an endless free stream of leads though many other sources.
“This process will not only increase your listing inventory but also your buyer lead generation will soar.”
Getting more listings is a lot easier than most of you want to believe but it has not changed. The secret is you have to PROSPECT. What are you doing every day that is effectively putting you in front of people that actually what to sell their home? How are you using your sphere of influence, and social media sources? Are you making at least 3-5 calls a day to people who know and like you from family, friends and past clients asking them a simple question “Do you know anyone who is thinking of selling their home”? Or do you use a short sale script offering your expertise in getting people out of that huge mortgage that they cannot afford to pay for much longer? Sellers do not come to you. You need to find them and should be spending time EVERYDAY prospecting.
Put it in your plan, write it down and make sure it happens EVERYDAY. If you do nothing more than visit 2 expired listing a day and make 5 prospecting calls to your sphere of influence your listing inventory will begin growing and your lead generation will also start working for FREE.
If it is so easy why does everyone not have a large listing inventory? The answer to that is very simple also, very few agents do the simple things it takes to make more money and work less. I hope that you are one of them as there has never been a better time to get started.
Agents who read this real estate article also read:
The Email You’re Sending Is Costing You Business
Should I Invest in My Website?
Don’t Make Your Personal Bio About You
Ask the Expert: What Are the Best Negotiating Techniques to Save a Deal?
The 4 Essential YouTube Tips
Contact us for agent and franchise opportunities.