Being a successful real estate agent is all about balancing long-term preparation with short-term execution. A lack of structure has been the downfall of many agents. Here are three calls you should make every day, regardless of where the work takes you.
FSBO
Just about 50% of for sale by owner (FSBO) transactions occur when the seller knows the buyer. Start off your conversation with for-sale-by-owners by finding out whether or not they already have a buyer lined up. This is the most efficient way to qualify them. When sellers don’t know the buyer, the number one reason they are not using an agent is to dodge the commission fee.
Remind them that owners who sell themselves end up spending a lot more time than they ever imagined and tend to arrive at a final selling price that is lower than comparable listings that were sold by an agent, according to research by the NAR—$40,000 less, on average.
Try to be in contact with about 30 FSBOs at any given time. Turn them into clients by making them aware of the extra money you’ll sell the house for and all the conveniences you bring to the table.
Expired
Focus on properties that can be sold quickly with targeted marketing.
Research exactly why the property hasn’t sold, and address that right off the bat when you make your pitch. Make that first call with a fresh marketing approach already outlined.
Show why your system will sell a house that no other agent could. Expired properties are typically easier to land than FSBOs, because sellers want to get their house back on the market asap.
Sphere
It costs seven times more to convert a new prospect than it does to keep an old one, so staying in touch with past clients is crucial. When you reach out to the people in your sphere, make the conversation about them. How do they like the house? How is their job going? What is their family up to? Try to be of service. If they are looking to renovate a room in their house, go out of your way to set them up with the best contractor. If they’re having extended family members visit from out of town, suggest fun destinations in the area that they can take them to.
