Innovative Ways Agents Are Finding New Listings
October 1, 2018
President, Arizona Journal of Real Estate & Business
New listings are the lifeblood of a real estate agent who’s looking to thrive. But how do you know where to look? Sure, there are the obvious, well-trodden strategies that have worked for many in the past. Cold calling, knocking on doors, and asking your friends and family may prove successful in the early stages. Once you’ve exhausted those resources, what other creative methods can you use to cultivate new leads? Here’s a list of innovative ways agents find new leads without relying on websites like Zillow, or even mortgage loan originators.
CONTACT LOCAL MAJOR DEVELOPERS
This one may seem a bit ambitious, but getting to know one or two developers in your area is a great goal. Developers may already be working with other agents, but if you’re able to form relationships with them, they could be a great source for new listings. Be wary of stepping in other agents’ territories. You don’t want to give agents a reason to speak ill of you — especially to contractors. Be sure to remain courteous and polite if this issue arises. Speak directly with the agent or developer and smooth things over as soon as possible.
EXPLORE RENTAL LISTINGS
Consider the circumstances under which a homeowner would rent out their property — job transfer, divorce, or another life change. Owners usually rent out because they can’t afford to sell. Or maybe the home is underwater, or they feel the market doesn’t support the asking price that they need. For these reasons, they’ve decided to rent instead of listing with an agent. This is your chance to change their mind about the market. Let them know it’s a great time to sell!
FIND THE EMPTY NESTERS
Narrow your search to large properties purchased 20 or more years ago. What is the most likely case here? A couple bought a large house in which to raise a family and now their children have (hopefully) moved out. These empty nesters could be ready to scale down to something more suited to their new lifestyle. Luckily, you can help them with this transition.
LOOK INTO PROPERTY TAXES
A visit to your county clerk’s website will tell you which homes are behind on paying their property taxes. Therein lies enormous opportunity. Owners who are behind on property taxes are likely to be very motivated to sell. Brainstorm how you can best contact these individuals and help them find a better living situation — while making a sale!
Any modern agent worth their salt uses social media to promote themselves and their business online. As discussed in past issues, a flourishing online presence is a great way to attract potential sellers online. But have you considered paid advertising on Facebook? We already know Facebook knows all kinds of personal things about its users, including location, age, income, and hobbies. Facebook advertising allows you to use this data to serve perfectly tailored ads to potential clients.
As a real estate agent, it’s vital to think of new ways to nurture listings. Search for new opportunities to build relationships in person, and advance your marketing tactics online. Developing unconventional strategies will help ensure you’re ahead of the pack and thinking toward the future.