You’re having a great month with several listings and buyers falling over themselves to make offers. Your biggest problems are managing vendor expectations and keeping buyers happy. Wrong! Your biggest problem is how to capitalise on this success so that next month you don’t find yourself with nothing to sell.
Think of it like surfing. When you are busy, you are on top of a wave, and naturally you prioritise dealing with existing customers. But if this comes at the expense of doing your regular marketing, you’re in for a wipe out. Listing has a lead time and is a percentage game. You need lots of potential new vendors in the pipe line or you’re going to be doing a lot of paddling to get back out. (OK – maybe this analogy is not working).
The good news is that it is much simpler to get new listings when you already have listings. Everyone loves a winner. You also pick up quick private sales to known buyers. This is how I managed to average two sales a week every month, every year without fail. And, the quality of the listings gets better and better. Vendors want you to sell their property and trust what you tell them because you are the person getting results. This means you can price accurately to the market which of course increases the speed of sales. And buyers love your honesty which leads to more referrals…
So how do you find the time?
- Cut out the low-percentage activities like cold calling. (Sorry bosses, but this demoralising activity is for newbies and telemarketers).
- Play to your strengths. If many of your listings come from your local contacts in a club or a school or whatever, make sure you strongly maintain the connection and give back in meaningful and visible ways.
- Leverage your time. The best way to do this is to remember that people tend to believe what they read. This is the power of testimonials, newsletters (with profession content), and DL cards. Above all, maintain and constantly use a database for everyone with whom you are in contact. That way you are continually reaching the maximum number of people with the least effort.
- Finally and most importantly, make the call-backs to attendees at open homes yourself. Do not delegate this activity to an assistant!!! Most of your potential new listings are people who have come through and whom you have already met. YOU WANT TO BE SPEAKING WITH THEM. And you should want to speak with the genuine buyers. So what if there are a number of tyre kickers? Many will be neighbours and they can be potential referrers too. Every listing will generate more sales if you handle this correctly.
Dr Gil Davis is now a university lecturer, but for twenty-five years he was one of Australia’s most successful real estate agents. He wrote the top-selling book Sell for More, packed full of useful tips for agents, which you can purchase on-line through Harper Collins.
Notes from the editor:
Leverage the quality of property content from your RP Data subscription to connect with your database
The RP Data Research Team are publishing regular housing market and property updates each week throughout the year. This content is readily available in your RP Data subscription and can be emailed to you directly, such as:
- Weekly Property Pulse eNewsletter
- Weekly Market Trends Report
- Weekly Research blog articles
- Monthly Housing and Economic Chart Pack,
- Monthly Housing Market video updates
- Tailored reports such as regional market reports, Pain & Gain, Capital Markets and many more.
Each week you have easy access to this rich content. What better way to leverage this content than by sharing it with your marketing database to better show your access to market data and local property knowledge. To ensure you are receiving all of these reports call 1300 734 318 or email [email protected]
To increase your prospecting list, why don’t you try the rp.marketing direct tab in rp.professional. This new feature allows you to direct market to home owners more strategically using privacy compliant lists. For more information visit www.rpdata.com/marketingdirect or call 1300 895 015.