How Realtors Generate Leads and Find New Clients
By Gerri Leventhal – Broker/author/agent trainer - findnjhouse.com
The first thing a rookie agent realizes is that it takes a lot more work to please a person looking to buy a home or business property than it does to sell real estate property for a client. This is because a realtor has to show lots of homes to a person looking for a house (the buyer client). It takes time to set up the appointments and to travel to a bunch of houses.
Generally you can add a seller client’s home to the multi-list rather quickly and then all the other realtors have access to the sale details; asking price, number of rooms, acres, square footage, special features, photos… All the other realtors can pitch your listing to their clients. One of them is bound to sell the home for you. Yes, you could have an open house, and I recommend that you do. You can also advertise in the newspaper and online, perhaps on social media sites too. The truth though is that usually another realtor will find you a buyer for your listing.
The thing is your job is kind of complete fast, that seller client, fast. Price the home correctly and you just have to let the vast real estate industry machine do its work and get you some offers. But for a buyer client, you have to do all the leg work yourself, which takes time. You need to find homes that are attractive to your buyer and in their price range. Then you take them to see the homes and you get feedback on what they liked and did not like. Next you find more homes to show your client based on the feedback they gave you on the previous homes you showed to them.
You keep refining the buyer client’s search getting closer and closer to the ideal home they are searching for. There are also lots of problems like zoning; can the client do what they wish to do at the property they like? Does the client have the credit score to get a loan and the down payment money for the price range they have you looking for them?
Yes, buyers are more work so you must concentrate on finding listing clients or you could quickly burn yourself out. You have to pay for fuel to drive clients all over the country side. Thus, you want home sellers!
But how do you start attracting home sellers when you are an unknown new realtor?
You are the real deal and you know how to sell homes. Of course you are dealing with folks that just want to not pay a commission, so you must appeal to their greedy side to win them over. “I can get you a better offer, at a higher price.” This usually works best. Just explain that even with paying your commission they will still make more money on their sale since you will be bringing them better buyers… Then there is no reason for them not to hire you.
Convincing For-Sale-By-Owners to sign with you requires following up after they say no. All you have to do is come back in a week or two and say, “So how has the selling of your home been going? Got any offers yet?” It may take a few uncomfortable visits by you but eventually they will give in, admit that they cannot do it without help and hire you. The longer their home does not sell and the more bad experiences they have with buyers, the better your chances grow of getting hired by them…eventually. Just remember you have to stick with them. Sure they are annoyed every time you stop to ask how the sale is going. Yes, they are mad that they have not sold the house without your help. But, as they see how persistent you are, they will realize the value of having someone like you, who does not give up, on their side. One day they will say, “Okay, you’re hired! Now go sell my home!”
Speak enthusiastically about their house. Show how excited you are for the chance to be able to tell people about their home. Get the listing! Get your sign up in their yard! Next take some great photos and sell, sell, SELL! When a new realtor sells a home that another realtor has failed to sell… Your name and the work you do, gets spread around the whole neighborhood! Selling a home that a competitor could not sell, is the best damn marketing you can have. Make a habit of it and you will become a legend in that neighborhood!
P.S. Just remember that there could be a very real reason that their house did not sell during the first round, so do your homework and research. Was the house overpriced or was the description on the MLS just written poorly? Are there things the seller can do to up the chances of selling quicker?
Realtor’s business Reference Section:
Generally you can add a seller client’s home to the multi-list rather quickly and then all the other realtors have access to the sale details; asking price, number of rooms, acres, square footage, special features, photos… All the other realtors can pitch your listing to their clients. One of them is bound to sell the home for you. Yes, you could have an open house, and I recommend that you do. You can also advertise in the newspaper and online, perhaps on social media sites too. The truth though is that usually another realtor will find you a buyer for your listing.
The thing is your job is kind of complete fast, that seller client, fast. Price the home correctly and you just have to let the vast real estate industry machine do its work and get you some offers. But for a buyer client, you have to do all the leg work yourself, which takes time. You need to find homes that are attractive to your buyer and in their price range. Then you take them to see the homes and you get feedback on what they liked and did not like. Next you find more homes to show your client based on the feedback they gave you on the previous homes you showed to them.
You keep refining the buyer client’s search getting closer and closer to the ideal home they are searching for. There are also lots of problems like zoning; can the client do what they wish to do at the property they like? Does the client have the credit score to get a loan and the down payment money for the price range they have you looking for them?
Yes, buyers are more work so you must concentrate on finding listing clients or you could quickly burn yourself out. You have to pay for fuel to drive clients all over the country side. Thus, you want home sellers!
But how do you start attracting home sellers when you are an unknown new realtor?
- You have to do local promotion – You have a limited sales territory so market to that particular territory and its citizens. Global marketing won’t get you many clients. Social media platforms are set up for global talk and you need to narrow down your focus to local conversations.
- Your SEO, search engine optimization has to be very specific to the region in which you are a realtor. When you blog or social post mention local landmarks and local visitor tourist attractions, popular restaurants, clubs, parks... Use slang names and nicknames that the people in the neighborhoods you represent use when they speak about their own town. You have to identify community places that are not big enough to have their names included on the normal maps.
- Get emotional when you speak about your sales territory. You have to sell your towns and pitch the available lifestyles. Become a community spokesperson, always bragging about your county and the people living there. “We’re doing great things here!” and “This is a fantastic place to raise a family.” And “The neighbors stick together. We help each other. Friendly, friendly, friendly…”
- Get your biz card out there and drop off brochures about your services…everywhere and to everyone!
- For-Sale-By-Owners: Obviously if a realtor has zero listings then they should be calling on people who are desperately trying to sell their homes on their own, by themselves. There are websites full of potential clients attempting to sell their homes without realtors. You are a pro and so you need to be able to convince these go-it-alone sellers that you can do a better job for them than they can by themselves. It should be an easy pitch for you because you have a realtor license, you passed the realtor test! That license gives you credibility.
You are the real deal and you know how to sell homes. Of course you are dealing with folks that just want to not pay a commission, so you must appeal to their greedy side to win them over. “I can get you a better offer, at a higher price.” This usually works best. Just explain that even with paying your commission they will still make more money on their sale since you will be bringing them better buyers… Then there is no reason for them not to hire you.
Convincing For-Sale-By-Owners to sign with you requires following up after they say no. All you have to do is come back in a week or two and say, “So how has the selling of your home been going? Got any offers yet?” It may take a few uncomfortable visits by you but eventually they will give in, admit that they cannot do it without help and hire you. The longer their home does not sell and the more bad experiences they have with buyers, the better your chances grow of getting hired by them…eventually. Just remember you have to stick with them. Sure they are annoyed every time you stop to ask how the sale is going. Yes, they are mad that they have not sold the house without your help. But, as they see how persistent you are, they will realize the value of having someone like you, who does not give up, on their side. One day they will say, “Okay, you’re hired! Now go sell my home!”
- Expired Listings: Here is another treasure trove of potential clients for new realtors. Just know that these clients did not sell their house the first time around. They are skeptical of realtors because their last realtor failed them. You have to come prepared to convince a home seller that has already waited for months for a bad realtor to sell their home that you are not like their last realtor. You are confident that you can sell their home!
Speak enthusiastically about their house. Show how excited you are for the chance to be able to tell people about their home. Get the listing! Get your sign up in their yard! Next take some great photos and sell, sell, SELL! When a new realtor sells a home that another realtor has failed to sell… Your name and the work you do, gets spread around the whole neighborhood! Selling a home that a competitor could not sell, is the best damn marketing you can have. Make a habit of it and you will become a legend in that neighborhood!
P.S. Just remember that there could be a very real reason that their house did not sell during the first round, so do your homework and research. Was the house overpriced or was the description on the MLS just written poorly? Are there things the seller can do to up the chances of selling quicker?
- Throw open houses and get real good at it… I know many realtors will tell you that open houses do not work. They may not sell the home but open houses, done right, will get you plenty of buyer clients even if you need to show them other houses. They also get you listings clients. But you have to throw an impressive open house! To make visiting homeowners remember that they want you and only you as their realtor, when they decide to sell their home too; your open house has to be very special. Yes, neighbors who are thinking about selling soon do visit open houses to see if they like the realtor hosting them. If you show each visitor how prepared and knowledgeable and competent you are as a local realtor then they will hire you or recommend you to their friends. But again, you have to put on a great open house that makes each visitor say, “Wow! This realtor really knows what they are doing.”
- Develop your website and blog and social media accounts… But know that to get listings your site will have to be really great! Property sellers want to list with a realtor that has a great website. They know their realtor’s website attracts buyers. They want to sell their house and they know the buyers are on line now-a-days. If sellers are impressed by your online presence they will hire you over a realtor with an average to poor web presence. But know that you have to really make your web stuff really stand out. The idea is that you force sellers to have to sign with you because you are all over the web. When your name keeps popping up every time they search for realtors in your territory their decision to hire you becomes simple. When they search any real estate related topics and search engines like Google keep recommending you and your website then naturally you are the realtor they want to hire.
- Pick something to become great at! If you are the best house and property photographer in the area then your unique photos will sell more home than average photos will. If you can become good at making promotional videos then YouTube can be your mode of expertise for your realtor marketing to get you listings as well as for selling those homes quicker than other realtors do. If you are very personable then by all means walk and talk and greet and meet. Choose a small, just a few city blocks area, and get to know everyone there. Become that small niche neighborhood property specialist. Expand out slowly, but never expand so fast that you become not special anymore.
- Network, network, network… It takes a while but other professionals will start to refer business to you. You have to refer business to them too! Networking is reciprocal, you have to give to get. You also have to do a great job for any client that is referred to you or you will not get any more referrals. Word gets around in professional circles so if you get a reputation as being willing to help other pros get business then the pros in your area will all wish to work with you.
Realtor’s business Reference Section:
- Need more tips for starting or growing your realtor business? Go to my book page on my website to find plenty of marketing ideas for realtors:
- Check out my 90 day Business and Marketing Starter Kit for New Realtors!
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