10 Real Estate Strategies for Agents to Get Competitive Listings
Listings allow real estate agents to represent properties during the sales process. Without them, you can't get paid. Still, in the competitive world of property sales, it can be difficult to know how the process works when you’re new to the industry. If you're wondering how real estate agents get listings (or even how to score more listings), read on. This guide will teach you the best way to get real estate listings with actionable tips you can start taking today.
1. Identify Your Target
Most successful real estate agents don't attempt to sell all types of properties to every buyer. Instead of getting real estate listings for every property on the block, they’re picky. The best way to improve your lead generation is to establish your niche and provide your expert knowledge to a specific group of clients. Follow these steps to determine which niche will allow you to best serve your target demographic:
- Analyze the local real estate market. By getting a clear understanding of common characteristics in your area (such as the median household income and age of your target audience), you can determine which real estate agents’ listings will be most popular.
- Explore what you know. Expanding your knowledge in an area you enjoy or are already familiar with will provide you with a passion for specific types of properties.
- Consider your existing position in the community. When you already have relationships within a community, you have a network that can help you establish your niche. If you’re new to the market, take advantage of networking opportunities as they arise to get more real estate listings down the line.
2. Utilize Your Network
As a real estate agent, relationships with homeowners lead to relationships with home sellers. Your friends and family may not be in the market to buy or sell a home now, but they should know that they can call on you in the future. Networking means establishing yourself as a real estate agent among influential members of the community, everyone you meet, and other real estate agents. Seek leads in the organizations that you already frequent (or join a couple if you find your professional dance card empty), visit popular businesses in your area, and establish your presence on social media. Always be open to conversations, be prepared to share your information, and follow up on every potential lead as you’re figuring out how to get more real estate listings. You should also have plenty of business cards ready to go whenever you head out the door.
3. Contact Other Real Estate Agents in Your Neighborhood
While other listing agents may technically be your competition, relationships with them can provide valuable results. Connecting with respected real estate professionals allows you to learn from their successes and align yourself as a peer. Becoming a part of your neighborhood's real estate community establishes you as an equal, someone who is worthy of referrals.
Since the real estate business revolves around accessibility, connecting with other real estate agents is fairly simple. Look for their contact information through their brokerage websites, Zillow presence, and listings. Connect online through social media and business platforms like LinkedIn. Making these connections early will help you build your network in the community and online, which can lead to getting real estate listings.
4. Connect With Local Developers
While making connections with local developers can take more effort than other real estate marketing initiatives, these relationships can really pay off. Developers are the individuals building new properties or converting existing ones, and these properties will eventually become new listings. Successfully networking with local developers can provide a steady stream of work and even lead to referrals.
Real estate agents and developers work within the same customer circles and ultimately have the same goals. A mutual relationship between the two allows both parties to benefit. Get in contact with developers by visiting their open houses and demonstrations. Ask questions and participate at these events to have essential information to pass along to your clients.
It's important to consider developers as professionals within the real estate industry and to treat them as such. Real estate is a profession that leans heavily on courteous communication and a professional attitude. Word of mouth works both ways, and a developer who enjoys a polite conversation with you but doesn't need your services is much more likely to pass your name along to his peers. Being kind and courteous is always the right move.
5. Utilize Social Media
More than half the people on Earth are now using social media. If your business doesn't exist on social media, your competitors will likely take your potential listings and sales. According to the National Association of REALTORS®, 81% of older Millennials, 80% of younger Millennials, 78% of Generation X buyers, and 67% of younger Boomers found their home on a mobile device. While real estate websites are popular, social media was cited as the best source for high-quality leads. If you're a new real estate agent, it's important to keep your social media accounts professional and use them to generate conversations with potential customers.
Instead of simply blasting listings and advertisements on your social media, provide valuable content like advice and answers to questions. Adding a storytelling component to your posts can be a great way to attract buyers as well - for example, going live on social media platforms to answer questions about the real estate industry or a specific listing will attract viewers and grow your brand.
6. Ask Former Clients for Referrals
The relationships you build with your customers are vital for your ongoing success. It's often said that real estate is a word-of-mouth business, and the ability to harness that power can maximize your marketing strategy. Getting real estate listings begins by providing excellent customer service. Often, individuals in the process of buying a home meet many others in the same phase of life. Simply reminding your clients of your profession and that you get most business through referrals can lead to your clients sharing your information - which is the best way to get real estate listings!
7. Reach Out to Local News Outlets and Organizations
While a strong social media presence is a vital marketing technique, it's important not to forget the usefulness of local news outlets. Using local news outlets for advertising is only one way to get leads. Press releases about anniversaries or accomplishments typically make interesting local news stories. Stories about local homes or families can make the news as well. Always remember to seek a journalist in a related field and keep your stories short and sweet to keep readers interested.
8. Work Your Sphere of Influence
Prospecting within the circles you already frequent unlocks organic leads. A sphere of influence approach to getting real estate listings works by leaning into your relationships with friends, family, past clients, neighbors, and acquaintances. You have some influence on people who know you simply because of the relationship you share, so use that influence to get more real estate listings.
Begin this approach with a message to share your excitement about your real estate career. Contact your acquaintances in the same way you usually do; text messages, phone calls, and emails are fine mediums with which to connect with individuals you already know. Share your information and make a plan for future contact. Social media can also provide a valuable platform for growing your sphere of influence as your friends, family, colleagues, etc. can support you by sharing your content, giving you a wider sphere of influence to garner more listings.
9. Invest in Marketing
Social media and your online presence provide valuable marketing opportunities. However, real estate is largely a local business, and failing to invest in traditional marketing techniques can mean you won't reach your full potential. “For Sale” signs are still one of the most effective ways to sell homes. Direct mail flyers and signs that clearly show your brand will help residents remember you as the local real estate agent. Partnering with nearby businesses and individuals in related industries, like home repair contractors and lenders, can also lead to getting real estate listings. Neighborhood events can provide you with an opportunity to network within the community and spark interest in your business, so don’t be shy!
10. Hold Open Houses
Individuals who attend open houses are usually considering a home purchase. While that's a no-brainer, many agents fail to consider that these potential buyers may be seller leads as well. Understanding that an open house isn't simply about one sale is the first step to really maximizing the experience. While not every person visiting an open house is prepared to buy (or sell), they may know someone who is. An open house is a stress-free opportunity to network with potential clients you may not meet otherwise.
All successful real estate agents wondered how to get listings (or how to get more real estate listings!) at some point in their careers. All in all, the best way to get real estate listings boils down to networking and marketing. Meeting with real estate leads in different atmospheres and using a variety of marketing strategies, like social media vs. traditional efforts, can provide you with increased real estate agents’ listings. With that said, there's no template for real estate success. You may need to try a variety of tactics to boost your listings, including cold calling and door knocking. Use whatever methods that work best for you and expand your horizons with new strategies frequently to build your successful real estate career.