A very general rule of thumb: Half an agent’s income should come from representing sellers. If that’s not you, here are things to consider.
NEW YORK – Real estate professionals should ensure that at least half their business comes from listings.
Obstacles they may face include:
- Insufficient market knowledge: When working with listings, agents need to be competent pricing the home, provide insights on how to prepare the home for sale to potential buyers, market the home to gain maximum exposure, and provide the seller with detailed feedback on showings and offers.
- A unique selling proposition: An agent’s goal is to provide homeowners with a clear and unique reason why they should be the listing agent – why their services are superior to any other agent’s services. They should clearly communicate how their process will help the homeowner sell for the highest possible price in the least amount of time, and with the least number of issues.
- Marketing plan: Agents need a marketing plan that gains seller confidence. This likely involves syndicating the listing to all major websites, placing a sign in the yard, and any other tasks that gain exposure for the home. It’s also important to cite other actions that will benefit the owner, such as sending Just Listed cards, using professional photography and videography, and conducting targeted social media campaigns.
- Geographical farming: To gain a better focus on listings – and then get more of them – agents should concentrate on geographical farming, using predictive data analytics from companies like SmartZip, or shifting to more seller-focused social media content. Agents also need to have a neighborhood or area for which they are known as the expert and are consistently adding value.
Meanwhile, outbound prospecting calls should involve checking in with past buyers, circle prospecting after a sale, and calling FSBOs and expired listings.
Source: Inman (06/22/23) Burgess, Jimmy
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