As the real estate market is becoming increasingly competitive, it’s also becoming more competitive for you to get real estate listings. As a real estate professional, then you know that getting more listings is essential to your success. It’s critical for you to stand out from the crowd and show potential clients that you are the best possible choice for their needs.
With a competitive market, there are a few things that you can do to set yourself apart from your peers and get more listings in real estate. It is important to remember that you need to offer potential clients the results, dedication, resources, and knowledge they cannot find elsewhere. In doing this, you will be able to get more listings and succeed in our competitive real estate market.
Sphere of Influence
In a real estate market where there is more competition, you need to prioritize the expansion of your sphere of influence. This is the group of people that you know may need or want to buy or sell a home. Staying in touch with these people and sharing market dynamics, your current sales, and what to expect in the process is paramount. You never know when someone in your sphere will need your help or when someone in their sphere will need your help. In this case, you will have the opportunity to expand your business by getting a referral.
Growing your sphere to serve as more than your direct relationships is vital to your success. It’s important to continue to network in niche groups, participate in your community and support local businesses so you become the real estate professional they know and trust. Like any other industry, the real estate industry is always changing; it is important to stay up to date with the latest dynamics and data. This will help you be more prepared when working with clients and Sphere members. It will also make you more trustworthy in their eyes, which in turn makes other more likely to recommend you. By having a large and influential Sphere, you will be able to get more listings and sell more homes.
Expired Listings or FSBO Listings
If you're looking for more listings in a competitive market, one place to start is with expired listings or FSBOs (For Sale By Owner). These are properties that didn't sell when they were first listed by your peers or homeowners who are trying to sell without the help of a real estate agent. Having a direct conversation with the owner about why their home didn't sell can give you some insight into what might need to be done differently this time around. You can also offer your services as a listing agent and explain how you will uniquely market their home to get it sold.
Just remember, when approaching an expired listing or FSBO, always be professional and respectful. These homeowners are already feeling frustrated, so it's important not to add to that. Instead, show them that you're the agent they need to sell their home quickly and for the best possible price. This will give you a leg up in a competitive market and help you get more listings. Building a relationship is one of the most important aspects of being a successful real estate agent and will help you in any market.
There's always a group of people looking to downsize and simplify their lives. They may have retired, their children might have moved out, or they might just be sick of maintaining a large home. Whatever the reason, these folks are usually motivated to sell quickly and move on with their lives. As a real estate agent, it's your job to find this specific group and convince them that you're the best person to help them sell their home. In this way, you will have the chance to get more real estate listings and increase your chances of making a sale.
These are the ways to find potential downsizers and how to get the listing:
- Look for homes that are being listed for sale by the owner: These sellers are usually motivated to sell quickly and may be more willing to work with you if you can offer a competitive commission rate.
- Know who in your community you have lost: This might seem like a morbid way to find potential sellers, but many times, people who have recently lost a loved one are motivated to sell the family home quickly. Please, be gentle when pursuing this avenue and find a common thread that ties you to the family.
- Look for homes that have been on the market for a long time: The owners of these homes may be getting frustrated with the lack of interest and may be more willing to negotiate on price or commission.
- Search for homes that need repairs or updates: These homes are usually owned by people who don't have the time, money, or energy to make the necessary repairs - some of these may even include out of town investors.
In the digital age, one of the most important things you can do is to have a strong social media presence. This not only helps you connect with potential clients but also allows you to showcase your properties and listings. In a competitive market, it's important to get your name out there as much as possible. One way to do this is by using social media for real estate. Platforms like Facebook and Instagram are great for promoting your brand and connecting with potential clients. Make sure you're active on these sites and that your profile is up-to-date with your contact information and recent listings.
This also applies to your website. In addition to having a strong social media presence, you should also have a well-designed website that is easy to navigate and includes all of your contact information. Your website should be mobile-friendly as more and more people are using their phones to search for homes. Make sure your site is loading quickly and that it's easy to view on a small screen - always focus on being mobile friendly. Real estate today requires you stand out from the crowd and make it easy for potential clients to find you.
Attend Networking Events
One way to get more real estate listings is to attend networking events. You can meet a lot of potential clients at these events and get your name out there. Make sure you have plenty of business cards with you so you can hand them out to people you meet. You never know when someone might be in the market for a new home or looking to sell their current one.
This will take some time and effort on your part, but it will be worth it in the end. You may even make some great connections that could lead to other business opportunities down the road. While you're attending these events, be sure to dress professionally and act like a true professional you are. You want people to remember you as the real estate agent that they can trust, and that will get the job done.
The best way to get more real estate listings in a competitive market is to be the agent that provides the most value. Becoming an expert in your local market and consistently providing top-notch customer service will allow you to set yourself apart from the competition and earn the trust of potential clients in looking for listings. Keep in mind that it takes time to build a strong reputation, a proven track record, and stay focused on providing the best possible service to your clients.