Ask anyone about the market right now – whether they’re involved in real estate in Jacksonville, St Augustine or somewhere else in Florida — and they’ll tell you one thing, “It’s crazy out there!”
Real estate has always been an inherently competitive marketplace. Now, with a dwindling supply of inventory, and a growing number of buyers, listing agent marketing has become even more competitive. If you are an agent working hard to get more listings, consider using these tips to get an edge on the competition.
1. Use your network
According to data published by the US Bureau of Labor Statistics 85 percent of jobs are filled through networking. Real estate is no different. In fact, a career in real estate can be a lot more about “who you know” and “who you can help” than just about any other job. It doesn’t take long to learn that first and foremost, a career in Real estate is a people-focused business. Like other occupations, your first clients will come from your existing sphere of influence (e.g., friends, family). By working with your existing network, and providing them with a great experience, you can then earn word-of-mouth referrals to their friends, co-workers, or extended family. If you’re using your network to create more listing opportunities, consider jumpstarting your business with the following actions.
Pick up the phone.
Call 5-10 people and tell them to keep you mind if they (or someone they know) may be selling their home and looking for a listing agent.
Send a newsletter.
A weekly or monthly newsletter can help keep you as a “top of mind” resource for selling a property. Be sure to add a subtle call-to-action in your newsletter and ask your reader for their business or to refer you to their network.
Host gatherings.
After some time, you may have developed a list of top referrers. Be sure to continue to network with these sources of business and reward them for their referrals. Express your gratitude by sending them a gift, or by taking them out for lunch. Making sure to say: “Thank You!” is the best way to keep your referral network happy and engaged.
2. Leverage your current listings
Your next listing may be related to a current or recent listing. Be proactive and take advantage of the visibility you’ve acquired through these opportunities while they are fresh in people’s minds. Don’t wait until you’re almost out of work to begin searching for your next real estate prospect. Consider these action steps to leverage your current listings:
Connect with the surrounding neighborhood.
Before an open house or showing, reach out to other homeowners in that neighborhood. Pick 50 to 100 homes and knock on their doors. Let them know about the upcoming open house or leave your business card. Not only will it draw attention to your current listing and demonstrate your work ethic, it’s also a great way to connect with those who don’t know you but could be considering a future move.
Send “JUST SOLD” postcards.
Select a few hundred homes in a neighborhood you just sold in and share the good news about your recent sale. This is a stellar tactic when you have a success story and can illustrate it with statistics. For example, if you sold a home – in that neighborhood – on its first weekend – at $30,000 over asking price, that’s something the community will want to know! Recent success stories are a great way to attract their attention, and keep you as the one to contact when it comes time for them to make their move.
3. Run ads on social media
Over the last few years, the growth of social media platforms has provided an incredible marketing opportunity for listing agents. More than ever, listing agents are using social media advertisements to promote their websites as a resource for homeowners to get information about the market, and to obtain an instant home valuation.
Compared to traditional print, radio or television advertising, running this type of ad on a social media platform like Facebook is significantly less expensive (often less than $50 per ad). As an added benefit, individuals looking for information about selling their home can engage with you directly through the platform at the moment the impression is made. Which would be impossible when using these other advertising methods.
To do this, you first need to set up a Facebook business page and a landing page with a link where the reader of the ad can connect with you directly. Your goal in setting up this type of advertisement is to drive traffic to your personal page where homeowners can submit a request for an instant home valuation.
On the landing page, you will want to set up a brief form for the homeowner to fill out. In the form, along with the address of the property being evaluated, be sure to ask for the individual’s name, email, and phone number. While this information may not be necessary for the evaluation, it will provide you with an opportunity to engage with and follow-up with the client about potentially listing their home.
4. Connect with other agents in your area
Don’t be afraid to connect with other real estate agents in the market. Agents are frequently hesitant to do this because they may have the perception that their peers are “competition.” This can be a huge mistake. Not only will you need other agents to bring potential buyers to your listings but connecting with other professionals and establishing yourself in the industry is a vital part of building a community. Through these connections you give yourself an opportunity to form their successes and even enhance your own listing agent marketing tactics because of these connections.
Another reason to maintain relationships with other real estate professionals is due to the frequent changes in the industry. It doesn’t take long to learn that the market is in a constant state of evolution. Building a network of agents to lean on and bounce ideas off will help you grow as a professional and allow you to provide better service to your clients.
Don’t be surprised if the connections you make with other agents result in getting direct referrals from them. Sometimes agents may refer clients to you if they have a full inventory that they can’t take care of, or maybe they need to take some time off, or maybe they aren’t a good fit for a particular client. Whatever the reason, networking with other agents is a great way to stay on the short list for new opportunities.
Final Thoughts
As you probably already know, we’re on the back end of the annual “buying season” (late spring and early summer) in Jacksonville, Ponte Vedra Beach, St. Augustine, and Saint Johns. As things start to slow down, increase your listings by using the tips above and by creating partnerships with industry professionals like an attorney-owned title company — St. Johns Title. Not only do we provide a trove of free marketing resources for our clients and partners, our staff of friendly, knowledgeable professionals will be there to guide you and your client through the closing. Ensuring additional word of mouth testimonials and more listing opportunities.
View our news and events page here to learn more about our upcoming events, free FREC courses, and more.
If you have any title or real estate transaction questions give us a call at (904) 222-6422. You can also schedule a complimentary 15-minute consultation with one of our real estate specialists. Our team of friendly, accessible professionals is ready to assist you and work hard to make every title closing smooth and easy.
