Realty Times March 23, 2001

Four Things You Can Do Right Now To Get More Business
by Blanche Evans

It's inevitable that sooner or later, every home you have listed has closed and every buyer you are working with has purchased, and you, the greatest of agents, have no prospects. Most likely that is because you've done some great networking, advertising, marketing, and referral work recently that is paying off in these closed sales. But while you've been busy bringing deals to closure, your future business hit the back burner. What can you do to get more business right now?

The answer is to get prospects, you'll have to do some, well...., prospecting. For finely-tuned agents, that is unwelcome advice indeed, and I can hear you groaning across the country, but nothing gets you back on track faster than the basics. Remember what you had to do as a new agent? You had to make those calls, walk that neighborhood and work other agents' open houses. This time you can do the same thing but do it with the twist of experience.

Warm calls

Dig out your address book, or go to your contact management software and open it up. Start calling each and every person you know until you get to the bottom of the list. Tell them bluntly - "I need houses to sell, would you help?"

Ask them, "Do you know of anyone in your neighborhood who might be ready to make a housing change?" Of course, their minds will go blank, so help them along. "Anyone with kids off to college? Is there a young family with a new baby? Anyone retiring?"

Prompt them some more. "Have you noticed any change in the houses in the neighborhood? Someone putting on a new roof or remodeling? Are there any homes which seem neglected?" These are visual cues that someone might be fixing up a home in anticipation of moving, or has had a reversal of fortune which makes them no longer able to stay in their homes.

Now get some fresh air. Put a leash on your dog and head outside. Start knocking on your neighbor's doors. Refresh their memories that the busy lady/gentleman down the street is a working Realtor interested in his/her own neighborhood. Why take your dog? To remind you that work can be fun. And the dog will be thrilled to go along. Don't forget to put some business cards in your pocket along with some treats for Rover.

Be sure to jot down any leads you get and who you got them from so you can thank them later. And if you get a client, be sure to follow up with your referrer with a small token of your esteem. A gift doesn't have to be fancy to be heartfelt. You can show your appreciation with a potted plant, a book, or some coupons. Be sure to thank everyone you talked to with a follow-up thank you note.

Send your thank you's within a week, so your appreciation will be fresh in your contact's mind. These written reminders of you will also serve as secondary prompts, because sometimes things change quite a bit in a week. That could be just enough time for a neighbor to learn that the young family next door is wanting a bigger home or that the couple down the street are moving to a retirement resort. Then they will have your number and contact information written down to pass along.

Don't settle for your contacts' word that nothing is going on in the neighborhood. Get in your car and drive your favorite areas and look house by house for signs of change yourself. You can spot workmen on the roof or spot the home that needs paint. Use that as an excuse to stop and ask some questions.

FSBOs

While you're out driving you may have noticed some FSBOs. Did you stop and ask them if they are willing to work with Realtors? If they aren't at home, don't leave a card. Leave a letter, outlining that you would like to work with them if they would like to work with you and a few things you would be willing to do, such as hold an open house for them. Explain that you know they want to save a commission and you would be willing to help them so that you can find some new buyers. Deal? Are there services they would like to have but not pay a commission for? Maybe they would be willing to let you consult for a small fee, if your broker allows it. Usually, FSBOs who will let you do one or two things will turn the sale over to you when they see that you are trustworthy.

Don't stop there. Dig out the most recent Sunday newspaper and start scanning the classifieds in your favorite farming areas. Call the FSBOs and offer your services to sit their home for an open house.

Call and ask the homeowner three things: 1. What is your policy is on working with Realtors? 2. If I brought a customer, would you pay a commission? 3. May I view the home so I can add it to my checklist of homes for sale? If they hesitate, tell them that Realtors routinely see all the new homes for sale in an area and buyers expect you to know what a home looks like, its condition and features. Tell the FSBO that after a couple of weeks, all the buyers who are looking for FSBO bargains will have seen their house and that sooner or later, they'll need a Realtor to bring better offers. Have your local MLS statistics ready to show that local and relocation buyers who work with Realtors buy more quickly than those who don't. If you work FSBOs, you also need to keep an ongoing list of homes that sold FSBO and what the seller received against other comparables at the time. This can help you make your case that you as a Realtor can get them more for their home.

Open houses

If you had any listings left, you'd be holding them open this weekend. What if your basket is empty? That means someone else's might be full, and those agents might need you to hold their listings open for them.

If you work for a busy office, or for a brokerage that is part of a network of offices, chances are you have a shot at working someone else's open house this weekend. Most office networks allow agents to e-mail the network so that they can tell each other about pocket and company listings before they get to the MLS. Use the network to put out the word that you are available to sit an open house for anyone.

But, do yourself a favor and delete the other office manager's names from the list before you send your request. Why? If you were the manager, wouldn't you want any leads to come to your office? Office managers compete for Top Producer status, too. If they find out someone is holding an open house this weekend, they will ask the agent to get someone in-office to sit the home before letting another office's agent do it.

Make the most of your open house once you are there. Have your laptop open to your Web site or online newsletter. Have copies of Realty Times stories for buyers, and staple your card to the top of each one. Have a sheet with the other listings in the area with your name and contact information at the top. Buyers love those. If any of the houses have a Web site address, put a link on your Web site to it and give your link on the sheet. Tell your buyers you work the area and you know every home on the market. Give them goodies to take home and read. They want to know all about interest rates and other buying tips.

On your sign-up sheet, ask for their e-mail addresses as well as phone numbers. Highlight the fact that you can deliver information such as listings via e-mail. Tell them you and your company have all the listings on the Web and you can e-mail them anything they want. Stress that the advantage of working with a Realtor is that they get fresh information in real time.

Other ideas

Does your office have a relocation director? How does your office handle referrals? Find out and then go make some of your own. Companies like USAA and Costco have homebuyer and seller rebate programs where they give referrals to real estate agents. You won't get rich, thanks to the steep cost of the referrals (35 percent referral fee from Costco) but you'll be put back to work with more leads than you can handle. And that's what you want, isn't it?

It may surprise you to learn that some relocation departments actually have trouble getting agents to respond to leads because they are so concerned over giving up part of the commission. Your willingness may get you some leads that might not otherwise come your way. You'll also learn some new tricks, like blind-copying the referring relocation company's director in charge of your new client's move on all your e-mails to their client. Send homes, updates and other market information and document everything. They'll be so impressed they will ask your company to give their next referral to you personally. Go from there to working with HR directors personally. You could have a whole new specialty.

But you already know how to do these things. Sometimes all you need is a little pep talk to get you started. As soon as you make that first call or two, or drive the first block, you'll be back on track and that winning professionalism will take over again. Happy selling!



Copyright © 2001 Realty Times. All Rights Reserved.

With an award winning staff of writers providing up to the minute real estate news and advice, thousands of REALTORS® in North America reporting daily market conditions, and a nationally broadcast television news program, Realty Times is the one-stop shop for real estate information. That's why over 10,000 real estate professionals have turned to us for their publicity needs.