Door-knocking allows you to proactively put yourself and your brand in front of clients. It is a time-tested method that is known to be effective. Many top producers began their careers by door knocking and it also helps new real estate agents get their first transactions.
What are some other things you could do instead of door-to-door sales? Let’s take a look at some of them.
Call Your Sphere Of Influence
Your sphere of influence is all the people you interact with on a daily basis, as well as those who know you personally and trust you. This includes people you know like your friends, family, neighbors, business contacts, and acquaintances that live near you and whom you could help with their real estate needs.
If you’re using a CRM, why not identify the contacts in your sphere of influence that you haven’t contacted in a while and give them a call?
Your call does not have to be about only pushing your real estate services. The best way to make friends is to be friendly. Talk to people, ask how they’re doing, and show that you care.
If something big is going on in their lives, congratulate them and try to remind them about your real estate services in a natural way.
Call For Sale By Owners (FSBOs)
Dealing with FSBOs can be challenging. Some people implicitly (and sometimes explicitly) think that hiring a real estate agent is not valuable.
Many FSBOs seem to have negative experiences with real estate agents, which leads them to list their homes on their own. But don’t let that intimidate you. The majority of people who try to sell their homes without a real estate agent end up hiring one anyway, since they realize it’s not as easy as it looks.
If you’re willing to put the time and effort in, you could be the one to succeed in FSBO marketing.
It would be best to contact FSBOs by phone given the current global situation. When you contact a FSBO, you need to be tactful and have a light touch. The main reason people choose to sell their home without the help of a real estate agent is because they are hesitant about working with one. Another reason is that FSBOs get called many times a day by competing real estate agents.
You will need a strong script and to be able to empathize with people to be better than the rest.
Contact Newly Expired Listings
Expired listings can be a great opportunity if you know how to work with them.
Newly expired listings are a gold mine for many reasons. For example, if you are trying to buy a property that has recently expired, the owner may be more willing to negotiate since they are eager to sell. The salespeople are already very motivated to sell. Second, they may be frustrated because their agent was unable to sell their home quickly. This allows you to go in and demonstrate your value. This means that if you are not the first one to do something, you may still be successful.
Third, they are very easy to find. To get started, simply log in to your MLS account and create a list of properties in your service area whose contracts are set to expire soon.
The most likely reason why homes do not sell quickly is that they were not priced correctly. If a house has been unsold for several months, the owner will be more willing to accept a lower price. If you notice that a listing is about to expire, make a note of it and try to be the first agent to call.
When you call an expired listing, your goal should not be to immediately secure a listing. It is difficult to cold-call a homeowner and try to get them to list their home with you, as they may already have an agent, and you could cause them to get defensive.
Instead, aim for an appointment. Offer a free consultation over a Zoom call to anyone who is interested. Get the lead’s contact information if they do not agree to your offer right away, and continue to cultivate the relationship.
You should get a script for expired listings and practice it with other agents to improve it. This means that you will have worked out any issues before you start working with clients, so that you don’t practice on them.
Reach Out To Local Builders
There is a symbiotic relationship between real estate agents and home builders in that the former need the latter to build new homes and the latter often need the former to help them find buyers.
Homebuilders usually have a lot of connections, have a lot of knowledge about the housing market, and commonly work closely with real estate agents.
My advice would be to form relationships with local builders and work out an incentive system that would be beneficial for both parties involved.
Do not only go and ask for inventories and the highest possible commission split. Focus on relationships, not transactions. If you want something from someone, make sure you give them something first.
Reach Out To The Neighbors Of Any Home You’re Selling
If you are selling a property, it is likely that the people who live nearby will become interested. Some homeowners might be considering selling their home.
Use the 5×5 rule. Call the 10 closest neighbors to your listing. You can invite them to your property’s virtual open house, and ask them if they are thinking about selling their home. You could even offer a free home evaluation over the phone or through Zoom.
If you sell your property quickly, let your neighbors know.
Reach Out To Landlords
Landlords are in essence real estate investors. They own and manage a property that generates income. Many of them are constantly seeking new investment opportunities.
So why not reach out to them? You should compile a list of all the rental properties in your area, research who the owners are, and then contact them.
To determine whether a property is likely to catch their attention, you can look at the listing price, the location, and the size of the property. A good rule of thumb is the 2% rule. To find a good rental property, research the local market and look for houses where the monthly rent is two percent of the total sale price.
If the local market is more urban and expensive, you can still follow the 1% rule, just with some adjustments.
After finding potential properties, contact the landlords and tell them you can help them invest in a new property.
If you have good relationships with landlords, they may give you business again in the future and may also refer you to other potential clients.
Build Relationships With Your Local Businesses
Businesses in your area are having a tough time adjusting to the new reality of COVID-19. So why don’t you send some business their way?
Get in touch with businesses you frequently visit and arrange to meet with their owners. Once you have met with them, conduct an interview. Stories from other people can be featured on your blog. If you don’t have a blog, you can follow the instructions to start one. Then, let them know about your services.
As more and more businesses close their doors, small business owners may have to downsize as well. If this is the case, they’ll need a reliable agent who can help them make the transition smoothly.
Market Your Services To Divorcees
Selling a home is an emotionally heavy event for most people. If you add a divorce to the mix, you can see why they would need someone who is emotionally detached from the situation.
Most judges order divorcing couples to sell their shared property. This means that over a third of people who get divorced will sell their homes within half a year of filing for divorce. This can be an excellent opportunity for you.
The sellers in this situation are very motivated and you could potentially get two buyers from the deal.
Market To Homes Inheritors
Each year, over a million Americans inherit homes. The majority of people end up selling their properties instead of holding on to them.
Why is that? You would have to spend time and resources repairing, remodeling, and managing a home you suddenly inherited in a different state. If you’re not planning on living in the house, it’s not worth as much to you.
This is where you have a great opportunity. People who inherit homes are usually motivated to sell them quickly.
Whenever a will is created, a new case file is recorded at the county’s clerk office. You can access case files to get all the details about a case that is part of the public record. To find the inheritor’s contact information, do a bit of research.
Find Vacant Homes, And Reach Out To Their Owners
The US Census Bureau reports that there are around 17 million homes that are unoccupied. There may be hundreds of them in your city alone.
There are many properties that are owned by people who don’t have any plans for them. These people have not renovated the properties or put them up for sale.
Finding vacant homes can be pretty easy. Look for signs that the animal has been abandoned, neglected, or is not active. Make a list of unoccupied homes in your service area by driving around. Then, be proactive, and reach out to their owners.
Be specific about what you want and what you can offer.
You should start each conversation by asking if the person you are talking to is the decision-maker or owner. This will help you to gauge whether or not they have the authority to make decisions regarding what you are discussing. You want to talk to someone who can help you, not someone who can’t help you.
You should say to them that you work in real estate and would be able to help them if they are looking to buy or sell a home, especially if you have open houses in the area.
Be clear. Homeowners are receiving offers from companies to buy their homes at a low price.
Your script should highlight that you are a professional real estate agent who can help them get the most value for their property.
The process of generating leads has been made more difficult by companies sending out a large number of flyers, letters, and mailers that describe a “fast cash home buying process.”
This means that you and your team should not be involved in this.
The best way to find out who owns a piece of property is to look up the county’s property tax records or the property’s deed in the county’s recorder’s office.