How can we get more listings? This is the question that every salesperson (and manager) debates endlessly. Sadly there is no magic wand, but there are strategies which are proven to work.
The most important thing is to determine where you are going to be most effective. There are two alternatives:
- In your home suburb. This is where you are automatically most likely to be considered the expert, and where your canvassing efforts will have the best results. Like it or not, the moment you step outside your natural territory, you are at a disadvantage. Some agencies have managed to transcend this through the strength of their brand marketing, but they are very much the exception, and this should not be confused with profile or brand awareness (though these do help).
- Among your referral group. This might be an ethnic, religious, sporting, family or cultural group where people will trust you. However, the strongest referrals will come from people for whom and to whom you have successfully sold – everyone loves a winner.
You now need to establish how you can canvass most successfully. There are many alternatives including direct contact (meeting people at inspections, holding seminars, speaking at sponsored community events, door knocking etc), and indirectly influencing people (advertising and newsletters). These are not mutually exclusive; all will work to a greater or lesser degree; and they do reinforce one another. In fact, research has consistently demonstrated that a product or service (that’s you) has to be exposed to a potential user of that product or service at least six times before achieving good name recognition.
The take-home message is that you must be consistently putting yourself in front of potential vendors to have a chance of being invited in through the door for an appraisal. How often is enough? Well how quickly do you want to achieve recognition (without being seen as a pest)? As a rule of thumb, everyone in your target area must be exposed to you as a successful marketing brand at least once a month – and that means every month without fail!
Without doubt, the strongest method of achieving listings is by properly working the ones you already have. I will tell you more about that in my next article.
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:
Direct contact: One of the direct contact measures you can penetrate using your rpdata property system would be a letter drop or door knock. A targetted way to accurately located prospects is to use the popular rp.professional features agents use on a daily basis, such as Territory Builder and rp.prospector.
- Territory Builder: Refines your suburb searches more accurately by mapping specific properties in an area. You can then report, extract or receive property alerts within your territories. Learn more.
- rp.prospector: Use rp.prospector to ‘Find Leads’ and search for ‘Withdrawn Listings’ and ‘Listings Over 60 Days’. Learn more.
Indirectly influencing people: A great head start to creating hyper content newsletters in your local area would be using rp.suburb scorecard. This powerful tool helps agents understand the housing marketing at a micro level, especially for generating great newsletter content specific to a suburb.
- median sale prices and growth
- sales volumes and total value
- median asking rents
- gross rental yields
- listing volumes
- average days on market
- vendor discounting
See how easy it is to create local hyper content for newsletters, blogs or perhaps data rich information for your social media posts. Watch here!
To learn more about rp.suburb scorecard visit our webpage or call 1300 734 318.