The biggest problem that new real estate agents
face is getting listings. Getting sellers to list with you instead of buyers to list with you guarantees you get a commission if the property sells.
If you’re working with a buyer, and you don’t have a buyer’s listing agreement, then you risk losing your client — and thus, your commission. Unfortunately, I’ve seen this happen countless times, and it’s a painful reality of real estate.
Below are my eight tips for getting listings as a new agent.
1. Call everyone you know
Grab your phone and start going into your contacts. Call your best friends. Call that guy you just barely know. Call anyone and everyone you can, and slowly build your network, even if it means going out for coffee or drinks with people you barely know.
Make sure you talk about real estate and ask where they’re living, if they’re planning on moving and anything else related to real estate.
Connections are key in this business because even if they don’t need your help now, chances are they could use your help down the line, or they know of someone they could refer to you.
Growing your list of clientele will take patience and time, but it will all be worth it once everyone starts referring their friends and friends-of-friends to you.
It’s also very important to follow up with your contacts, so create a spreadsheet on Excel, and make sure you know where you stand with each of your prospects.
2. Talk about real estate in person
Meeting in person
really helps to solidify the connection you have with your clients and builds a stronger level of trust.
Phone calls, emails and text messages
are great for quick conversations or updates, but if possible always try to meet them in person, even if it means you have to take extra time out of your day.
I guarantee your clients will appreciate the effort you are putting forward to build a relationship
with them. If they trust you, they will be much more likely to continue working with you.
3. Contact local major developers
This is easier said than done, but you should aim to know one or two local developers in your area.
In some ways real estate is a lot like dating, and sometimes feelings can get hurt in the process.
Often the developers might already be working with another agent, but if you can also form a relationship with them and they like you, they can decide to help you out if they get any new listings.
Be careful though, real estate is a very territorial game, and the agent working with the contractor may bad mouth you. The best way to handle that is stay courteous and polite and either speak directly with the agent or the developer and try and smooth things over.
4. Cold call and door-knock
This is the hardest way to get listing, but it can work if you work constantly at it. If you sign up with RedX (theRedX.com), it has a list of all potential, expired and cancelled listings.
If you can, call as early in the morning as possible. Property owners usually sign up with either the first or second agent who calls them. So be persistent, and call early and often.
When my listings would expire I would get calls as early as 7 a.m. It’s even better if you can create a face-to-face relationship as early as possible, so offer to meet them in person if you can.
I would create a spreadsheet of who to call back on Excel to track your progress. It helps make sure you’re following up and closing those listing agreements.
5. Post about it on social media
Social media is an immensely powerful tool, not only for sales, but also for recognition. It may not get people jumping to list homes with you, but it will bring clients in slowly and surely.
6. Get recommendations
Work so hard that you don’t have to introduce yourself. After you get a couple sales done, you’ll notice that your happy clients will pass your card around to their friends, and your name will spread by word-of-mouth
Therefore, it is especially important to build up your network and client list
so you can reach a broader scope of people.
7. Go to local real estate offices
Walk in and introduce yourself. You never know where your next real estate allies will come from.
Being in real estate means breathing, living and dreaming about real estate. Don’t be shy, go up to people, introduce yourself, and pass out your card.
Building relationships is the name of the game, and it’s not done behind a computer screen.
8. Invest in yourself
Ads aren’t a simple process. It takes a lot of impressions to create and build comfort with a brand.
It’s not cheap, but anything you invest in for yourself, whether it be ads
, flyers, business cards
or email blasts
, will eventually payoff in dividends. Just beware it’s a slow burn.
Being a successful real estate agent isn’t about some magical formula; it’s constantly pushing and following up. It’s about making things happen and serving your clients’ needs.
Always act with integrity, and never stopping working hard — the listings will eventually start pouring in.
Omar Spahi is the founder of Ocean Avenue Realty in Santa Monica, California. Follow him on Facebook or Twitter.
Email Omar Spahi