Interested in turning one lead into a lot of business? Real estate expert Jim Droz recently taught us how to do just that in a HouseHunt webinar. Here are 12 ways to turn one lead into multiple closings from Mr. Droz’s personal experience.
1. Start with a Buyer
Have a buyer interested in an area but there’re no homes for sale in that location? Send out buyer postcards. Your postcard should let residents know you have a client interested in buying in the area and ask if they’ve thought about selling. Here is an example:
Follow up your buyer postcards by door knocking the area in which your buyer is interested. If the residents haven’t given any thought to moving, ask if they know of anyone else who may want to sell. If you do eventually find someone interested in listing with you, you get to double-end the deal!
2. Work Expired Listings
Jim suggests that you “search the MLS for expired listings in areas that are appropriate to satisfy the buyer’s needs.” Once you find some houses that meet your criteria, call and ask if the owner is still interested in selling. Even if s/he isn’t willing to sell at this time, make sure to offer a no-cost, no-obligation, professional evaluation of the home regardless.
By working expired listings, you’ll either be able to acquire a new listing quickly or have a seller familiar with the selling process in your pipeline.
3. Make More Sales from Sold Homes
Once you’ve sold a home, place a “Sold” sign with your name on it out front quickly. Furthermore, Jim suggests that you knock on 50+ doors and give residents a photo brochure with specific information about the sold home. Closer to the sold home, door knock to introduce the buyer, give out photo brochures, and discuss the selling price with the neighbors.
Mail out 250+ “Sold” postcards featuring a photo of the home that looks something like this:
Also include text that reads something like this:
We have just represented one of your neighbors in the sale of their residence. The end result of the transaction was an excellent selling price, minimal inconvenience to the seller, and another satisfied client.
While this home was on the market, it generated a lot of buyer interest in the area. If you have given any thought to selling your residence, please call us. To satisfy the needs of current buyers, we need new listings!
After you’ve sent out your “sold home” postcards, send out change of address mailers for the seller. Ask the seller to complete a performance survey, promote the results (if positive), and encourage referrals from the seller.
Lastly, mail a letter thanking the buyer.
4. Maximize New Listing Opportunities
Once you have a new listing, send out 250 new listing postcards. These will look similar to the one above, but will have pictures of your new listing and information detailing how you’ve been hired to market a home in the area. Jim suggests the following text for the postcard:
If you have a friend, relative, or acquaintance that might want to live in your neighborhood, please tell them about this new listing. This is your opportunity to choose a neighbor!
New listings tend to increase buyer activity in an area. Increased buyer activity can result in higher sales prices and reduced inconveniences. If you are thinking of selling, please call me.
Similar to the marketing procedure when you’ve sold a home, place the “For Sale” sign with your name out front of the home quickly, knock on over 50 doors, and send all advertising materials out to the community.
During the selling process, hold a neighbor-exclusive open house first and a public open house second.
Once the home has been sold, encourage referrals and repeat business from the seller.
5. Work REO & Distressed Properties
Jim suggests that you be on the constant look-out for distressed properties and keep a database of properties that appear to be vacant and/or abandoned. Once you have a buyer who has narrowed his/her search down to a few neighborhoods, research the ownership of these properties and contact the bank.
6. Milk Referrals
Think of every incoming client as a referral source. Send out postcards asking for referrals from clients who have recently bought and sold with you at the helm. If you do indeed receive referrals from these clients, make sure to follow up with another postcard thanking them for keeping you in mind. Send postcards again once the people they have referred have officially made you the listing agent and again when you close the transaction.
7. Use Drip Marketing
Continue to brand yourself and stay in front of your past and potential clients by employing a personalized, automated drip marketing campaign. Send out e-cards to clients for birthdays, home purchase anniversaries and holidays.
8. Keep an Eye on Time Management
It is cheaper and much less time consuming to keep existing clients than find new ones. Therefore, the more clients you keep, the more you can increase your production. If you use an online lead generation system, the time saved by having someone generate leads for you can give you the time necessary to triple your production.
With the extra time you have, pick up the phone and call people you’ve worked with in the past, contact expired listings and For Sale By Owner listings, work your databases, market your successes, communicate with active clients, get creative when generating brand awareness marketing ideas, and maintain a work-life balance.
9. Improve Presentations
Improving your listing presentations can make you the stand-out agent. Understand the seller and the importance of details, and have a diverse set of presentation tools including a comparative market analysis and hardcopy booklet. Make sure to review the six critical factors of selling a home with the sellers, and have a listing agreement signed before you leave.
10. Generate a Unique and Exclusive Source of Buyers
Using a lead generation service that markets you exclusively as the agent in the given area will give you a competitive edge in today’s world of online real estate marketing. Furthermore, being a part of a national buyer referral network will allow out-of-state leads to come to you without any extra effort on your part.
Jim Droz, who’s been using the HouseHunt system for over ten years, states that on average, he receives 30 buyer leads monthly from his HouseHunt.com website. Furthermore, more people are able to see his listings, and the higher the number of potential buyers who view a home on the market, the bigger the net proceeds in the agent’s pocket.
11. Employ Success Marketing When You Close a Buyer
Similar to the process of marketing your success after selling a home, once you close a buyer, place a “Thank You” sign outside of the home. Door knock on 50 or more doors to introduce the buyer, mail out 250 “My Buyer Just Bought” postcards, and sponsor a house warming party for the buyer.
Make sure to encourage referrals from the buyer and ask them to complete a performance questionnaire.
12. Focus on FSBO
Emphasize that you empathize with the tough time the seller may be having, and tell him/her that you have an exclusive source of buyers, one of which may be looking to purchase in the area. Ask if the seller is willing to cooperate with an agent if s/he has a buyer. You can also offer a For Sale By Owner self-help kit.
After speaking with the seller, send them a thank you note offering your advice and answers to any questions they may have about the selling process and include a recommendation for a closing officer and lender.
Hopefully, these 12 ways to turn one lead into multiple closings will help you generate more business. If you think beyond incoming leads, get creative, and be unique, you will be able to maximize your results. As Jim puts it, “If you are not different from all the other agents in your area, your paycheck won’t be!”