End the year on a high with these 5 lead generation strategies
The real estate industry has endless opportunities for agents to succeed. End the year on a high with these five pipeline building strategies.
September is Marketing and Branding Month in Inman. Tips for better branding and in-depth features on how to take advantage of marketing tools provided by Zillow, Redfin and other platforms are all in the works, in addition to expert insights. You’ll find it all at Inman, along with our two-day virtual flagship event, Your Playbook for the Fall Market, in October.
The real estate industry has endless opportunities for agents to succeed. However, it can be competitive and, at times, difficult to navigate.
Success is easier when you surround yourself with others with similar goals. Josh Grubenksky from the Tom Toole Sales Group attended the Tom Ferry Summit. In a post-event team meeting, Grubenksky sat down with us to share his top takeaways to help Agents finish this year and beyond at the top.
More conversation leads to more sales
The best salespeople have several traits in common, but one of the most important is how they prioritize consistent communication. It may seem obvious, but with the market we’ve been experiencing for the past two years, many agents’ phones kept ringing.
High customer traffic led agents to neglect setting up intentional conversations. However, waiting to make calls when your pipeline is dry and empty is a critical mistake to avoid.
Agents who talk to people the most will get more sales than those who don’t. Keep in mind that you shouldn’t get discouraged when someone says no. Usually, potential customers don’t tell you no; they just say no at the moment.
Consistent communication is key to increasing sales and giving new customers the opportunity to work with you in the future.
Educate customers with data
A Comparative Market Analysis (CMA) is a valuable tool that agents can offer potential clients. People appreciate knowing the status of their greatest asset when making their future plans.
Renaming this practice as an annual home equity review reframes an agent’s position from an advertising perspective, as it provides an opportunity to discuss longer-term goals. These reviews include information such as how the market has changed from 2019 to 2022, recent sales in their neighborhood, and the appreciation of their home.
The data contained in an annual home equity review positions agents as a guide that can help clients make informed decisions to help them achieve their long-term goals.
Not everyone is ready to enter the market right now, and providing them with this information will help them remember you when they are.
Encourage transformation consultations
When sellers ask to sell their property as-is, agents should encourage them to consider low-budget strategies to dramatically increase the value of their property. Transformation Views are opportunities for agents to identify lower-cost upgrades that help sellers put their listings forward, which ultimately leads to a higher selling price.
When a seller has a home that is not in ideal condition to compete in the market, they may be reluctant to spend the extra money on the property because they feel it will cost even more. at the final sale price. However, small investments like $10,000 can result in another $100,000 by the end of the trade.
Basic improvements such as a deep cleaning of the house, adding fresh paint and installing better flooring can increase the value of the property. Even bringing in a decorator and new furniture can make a huge difference in the selling price.
Keep in mind that a little work can go a long way, and helping sellers identify changes that would benefit the listing price the most can help them earn more for their home.
Other real estate agents are prospecting your clients, so creating urgency in your business is key. This includes reviewing your business daily or weekly to identify areas for improvement that will help you stay competitive and keep your customers happy and coming back.
In this industry, there are so many factors beyond an agent’s control. However, these reflections highlight issues that are within an agent’s control and that will ultimately position them for success.
Whether it’s identifying gaps in your skills, connecting with the community, or becoming more consistent, there are always opportunities for improvement that determine whether you win a client’s business.
List more houses
Signing up more homes is one of the biggest takeaways from the event. To be in the top 1 to 2% of listing agents in the country, it only takes 100 ads sold. Conversely, the bottom 50% of MLS agents sell an average of 2.7 listings per year. That means 785,000 agents mismanage lists each year.
In this business, listing houses to last is real; listings generate buyer leads not based on referral fees. Think about it. A sign with your name is displayed in front of a house and neighbors see who is maximizing the price of houses in the neighborhood. People want to buy homes right now, and when you control inventory, you control the market.
Ultimately, too many agents focus on the buyer’s funnel instead of listing more homes. This is a huge opportunity to win more business and work your way into the top 1-2% of agents in the country.
The real estate sector will give back to the agents the efforts they have made. Talking to more people, educating customers, offering transformational consultations, personal reflection, and listing more homes will help agents succeed regardless of market conditions.