Beauty may be in the eye of the beholder, but not when it comes to real estate. Viewing a number of high-end properties in recent weeks brought this fact home
What is the most effective way to generate real estate SELLER leads?
There are many, many strategies that you can use to generate seller leads but the best one is to build relationship with people in your community. It’s more important than having a great website, more important than mailing postcards, and definitely more important than printing an ad in local newspaper.
If you want to thrive in your market as a real estate agent, you need to be well-known, you need to have an impeccable reputation and you need to go an extra mile when it comes to helping your clients because your future business will depend on the relationships you build. Someone you know might know someone else who is buying or selling a house. If you do a good job for them, they WILL refer their friends and family members to you for sure.
Now that I have emphasized enough on how important relation-building is for real estate agents, in my opinion the best way to generate seller leads is through door knocking and calling FSBOs.
Go Door Knocking
Knocking on someone’s door can be intimidating, especially for new agents. There is no doubt about it and you might even think it’s too old-school but the truth is that knocking on someone’s door, introducing yourself and building a rapport with you prospect right then and there is better than sitting in your office and waiting for business to come to you. That does not happen.
In a way, the fear of knocking on a door is similar to the fear you experience when you cliff dive. The best way to overcome is to just do it. You will get rejected, some people will even be rude towards you but you will meet nice people as well. Real estate is a contact sport so it’s normal.
Here are some benefits you would get from door knocking that other forms of marketing don’t provide:
- You don’t have to spend any money.
- You get to exercise for free.
- You don’t need anything to start door knocking. You can start today, right now!
- You build real connections.
- Rejections won’t be as bad as you would get through cold-calling.
- You will get more exposure in your market
- You can expand your sphere of influence or SOI
As an agent, you should knock atleast 500 doors figure might seem daunting but if you are organized, it’s very much possible. Here are some tips for you when you go door knocking:
Door knocking is a War, not a battle. Tell people if there is an open house in the neighborhood, that you sold a house for this x amount, or give them useful information like development plans for that neighborhood. Once you have established a relationship, then and only then ask if they are considering selling their home or even if they know someone who would be interesting in buying or selling a house. Keep knocking doors consistently and if you don’t get results within a few days, don’t give up. It will get you business but you will have to be patient.
Know your scripts. It’s important that you know exactly what to say to clients and how to say it. For example, in your first encounter you can always start like this:
“Hi, my name is Michelle. I was in the area and I’m a local real estate expert of Springfield Heights.I wanted to make sure you knew that there were 17 homes available for sale in this area in this 1000 home area.”
You can end the conversation with:
“If you ever need any information on real estate, I want to make sure that you know that I am available for you. Here is my business card. If you have any questions ever, please feel free to call me.”
I know, you wanted to get seller leads but a seller would be interested in knowing how much those other house in the area listed for, right?
Dress professionally but for your market. Dress badly and the people might mistake you for a homeless person. When door knocking, wear something that resonates with the people living in your area.
Call For Sale By Owners (FSBOs)
When you spend time with people in your community, you go from being just another agent to someone they know. If you are well-known in your community, if you are socially active, and if you are memorable enough it would be easier for you to pick up the phone, call those people and ask for their business. You would change cold-calls to warm-calls. That’s why door-knocking and calling FSBOs can be a very powerful combo and your success rate from cold-calling would significantly increase.
Once you know which area you are going to knock doors in, keep an eye out for FSBOs. These are the people who are trying to sell their house themselves and might or might not be successful in it. These FSBOs are “hot leads” which will become your customers if you give them good enough reasons to.
Calling the FSBO leads with a solid action plan is a lot better than just opening the phone directory and dialling numbers at random.
Marketing is all about testing and nothing is written in stone. As an agent, you need to test and see what works for your business. Something which works for an agent in Hong Kong might not work in Malaysia.
If you are going to remember one thing from this blog, then remember to always “test” what works and what doesn’t. Take what works for you and use it to your advantage.
Ask For Business
If you don’t ask, you won’t get it. One of the best ways you can get buyer or seller leads is to ask people in your sphere of influence if they know someone who is looking to buy or sell a house. This includes your family members, friends, friends of friends, your friendly neighbors, your ex, your classmates, the barista at your favorite coffee place, the guy who bullied at school but is your bff now, you get what I am saying. Don’t do it too often but ask them every once a while that you would really appreciate if they can send someone who is looking to sell a house your way. If the deal goes through, thank them for their referral and send them a nice gift.
Most importantly, ask your past clients for testimonials and request them to send business your way.
I would keep writing but my fingers are tired now. If you have any questions about anything I wrote about, shoot me an email ().
Here are a few real estate guides for agents that might be helpful for you.
If you want to improve your real estate knowledge and skills, take a look at GREL – Broker Edition. It’s the most affordable real estate training an agent can get anywhere in the world. ($39 / month).
If you want to specialize in a real estate niche, take a look at the .
Some are specific to customer demographics, some are specific to property types and some are agents who want to invest in real estate. These are also very more more affordable than designations offered by NAR and provide a lot more value as well.