By executing these five steps, you'll be front of mind for your targeted homeowners, and you will generate more listings.
Follow these steps, and you will never be listing poor:
1. Create a database of homeowners
Whatsoever we focus on as humans grow.
The question is are you focused on growing your database of future house sellers?
If so, then you now have the foundation for generating more listings.
You should fill your database with friends and family members who own homes in the areas you service. You should include:
· Your past buyers (who bought from you).
· Local Own to Sells you’ve met at viewings.
· Withdrawn Listings
· Homeowners in your patch area that you have ever communicated with.
The way I think about a vendor database is very methodical.
Although we have not been in a typical market environment for more than 18 months, 50% of property sales have been in their home for only 6 years and 18 weeks is the average length of time a homeowner stays in their house in a normal market.
On average, 10% to 15% of your vendor database will sell each year.
Nobody gets 100% of the listings from their database, yet following the steps in this commentary should mean you to convert half of the vendor in your database into listings when they decide to sell.
2. Create a process of sending your database comparable home sales
In this 2021 world, we live in the data-info age. The more relevant information you deliver to vendors, the more front of the mind you will be when their time to sell their home arrives.
Since the property market is continually changing, providing real-time news about the local property market, like the vendors, that come on the market and sell is a perfect way to deliver them pertinent details about their home’s value.
Get your Negs to email, everyone, on your database all the properties that have sold within a 0.25m/0.5mile/1m radius of the person’s postcode (using the Rightmove House price search function). These property details are a methodical way to add value to the local homeowners & keep your face & name front and center of their minds. Every vendor in your vendor database should have this steady and dependable communication piece in place.
3. Email the vendors on your database a monthly newsletter on your town’s property market
Stay front-of-mind by constantly sending a monthly newsletter about your town’s property market plus what’s happening in the local community to your vendor database.
It needs to be educational or entertaining.
Identify the parts of your town, you want in each month’s newsletter, and build an email template that is easily applied each month.
The ideal email newsletter for me includes 3 sections.
The first part of the email would include a video of you evaluating the local property market from the previous month. This allows you to speak directly to everyone in your database. It shows you're thinking of the property market & gives you the capability to connect with the database more profoundly through the video.
In the second part of the email, I would suggest you either show an upcoming local event (fete, etc) or a ‘my favourites places’.
Talking about the local event typically involves a brief paragraph announcing the forthcoming event linked to the website of the event.
The ‘my favourite places’ list can be very well-liked and anticipated by the vendors in my database. A few examples of these lists include:
- My 3 favourite family restaurants in (your town /suburb)
- My 4 favourite coffee shops in (your town/suburb)
- My 6 favourite sandwich shops in (your town/suburb)
- My 4 favourite things to do with the kids on a rainy day in (your town/suburb)
The third part of the email should allow you to show properties and any new listings taken on since the last newsletter. This will allow me to show the new listings to the buyers in the vendor database and show the vendors in my database those other vendors are picking you to put their homes for sale.
Don’t forget to ensure you put the magic subject line … [your town] Property Market – December 2021
Use tools like Sprift and or Homesearch personalised Valuation Report every 6 months personalises your agency service to the vendor and make a wonderful difference.
I would send it via the post.
And for those of you brave enough... The most individual way to really connect with the seller is to utilise a tool like Zoom with a background image of the Sprift and or Homesearch report.
Record your screen (you can do that on Zoom), with your face visible in a littler box on the screen, and go through the facts and figures on video with the vendors — the most effective way I know to generate listings in today’s market environment.
5 . Make personalised phone calls every three to six months
Everyone says Estate Agency is a people business & people do business with people. Depending on how close they are to selling, building 1-to-1 relationships that will lead to listings by calling the homeowner every 3 to 6 months.
Here are a few lines to get you started
- “It has been a couple months since I touch base. Are you all still liking your home?”
- “You stated 6 months ago that you all might be contemplating a move in a few years. I just wanted to touch base to see if something has changed?”
- “With all we have been through over the past couple of years, a lot of homeowners are re-evaluating what they want in their home. Have you all pondered relocating to a home that might better fit your growing family?”
Ringing someone is a vital part of the process of generating more listings.
By performing these five steps, you will be front-of-mind for your targeted vendors, and you will generate more listings.