Inventory is still low and that’s exactly why it’s important to target the sellers who are more likely to move. This increases your chance of listing opportunities. I suggest finding at least one new opportunity from the list shared below. Perfect your process. Then choose another! To find the listings right now you need to find the sellers that have to move.
Who are the must sell sellers?
Probate – almost a market proof segment. 9 times out of 10 the heirs want the money from the sale of the home and will do what they can to get the property sold.
Divorce – Couples going through divorce will often be considering selling their home.
Relocation – When a move must happen due to a job change or some other life circumstance.
Notice of default – Almost ready to lose their home and they have equity that they would like to get out of it. You can help them by selling their home so they can get the cash out of it that they need.
Look for areas that have high turnover. If you are in a state where the title company has resources that can help you identify hot spots in the market, reach out to them to find those places with the higher rate of turnover.
Expireds and for sale by owners – You don’t need a lot to make a huge difference in your business. What I love is that they want to sell and are trying to sell . They just couldn’t make it happen. This means they are motivated.
I don’t expect you to work every one of these segments. If you select too many of these areas you can get overwhelmed and will not know where to begin. My suggestion is to choose 1 area of the must-move seller opportunities I have shared. Think about what feels right for you and interests you the most.
Maybe you have gone through a divorce, relocation, or gone into foreclosure yourself so you understand what they are going through. Or maybe you have a knack for positioning homes that are hard to sell and getting them sold. Find your niche and work to implement it. Once that is running smoothly you can always go back and select another.
Other areas to find those listing leads:
Educational events- Partner with a lender. Showcase the event as an economic update and interest rate update. Invite everyone in your database to these educational events. Make sure to call everyone that attends after the event.
Don’t neglect your database. This is your future goldmine even if they are telling you they are not selling right now. Remember, it is great to add something new but don’t neglect your database. Most of your business could be sitting in your database right now. People you talked to last year and told you they were waiting may be ready now. Maybe they didn’t want to give you the real timeframe to keep you at a distance or something has changed in their life. Whatever they tell you their time frame is, question it. “What is important to you about that timeframe? If you saw a financial advantage to do it sooner, is that something you would consider?”
Remember to always ask great questions to uncover their true motivation.
Perfect your nurture campaigns. Auto campaigns are not a replacement for you having those eye- to-eye and ear-to-ear conversations. Nurture campaigns are your safety net. Drop a web of connection on them. Have your nurture campaign running and add in your events, phone calls, personal texts, and stop-bys. Get nurture campaigns set up around your database. If you have a good CRM, get your campaign set and commit to it. If you don’t have a good CRM you need to find one and start using it.
Offer your database an annual real estate check up.
“Hi NAME, I know you are busy, I won’t’ keep you long. I hope your year is going well. Today’s call is about business you see NAME many of my clients and friends have been calling me and asking me what is happening in this real estate market. What’s happening with rates? Are prices going up or down? What is going on? This is really a customer service call. I wanted to reach out and ask you if there is anything you would like to know? I am happy to answer your questions and provide some information. In fact I am even offering all my friends and clients an annual real estate check up. I will run a custom evaluation of your home, get that information to you and discuss any questions that you might have for me. Would that be helpful?”
This is not pushy or needy, you haven’t asked anything of them, just offered incredible service. Sometimes we forget how much they value your information and you as their wise advisor. I would suggest that you track down anyone you haven’t spoken to in the last couple of months and offer that annual real estate check up.
During the annual real estate check up, ask them, “I am curious, what real estate related plans do you have in the future?”
Look for opportunities to put in front of them. You have power to bring ideas and to have data driven conversations to help them realize they can do more than they think they can do.
Theory of Reciprocity and its application to the real estate check up.
When someone does something for you it is human nature to feel an instant need to repay that favor. When you offer to answer questions and do an annual real estate check up at no cost the theory of reciprocity kicks in. This is the perfect time to say, “May I ask a small favor of you? I know you know a lot of people. One of the things I enjoy most about building my business is the opportunity to work with people like you and your friends and family. Is there anyone you can think of today that just needs to ask me a question or they might like a real estate check up, or are looking to buy or sell. Can you think of one person?”
When using this script use memory joggers: someone at church, work, on your kids sports team, etc. This will help to jog their thinking.
Now is the time to fill your pipeline with listing leads!
