The Ultimate Secret Weapon: Pocket Listings
Consider the following scenario:
A couple is interested in purchasing a home. They decide to drive around and they see a For Sale sign on a home they like. Better yet, they see an open house sign and decide to drop in to see the home for sale. In either case, if you’re the listing realtor, you now have a great buyer prospect, if you can get them to like and trust you over any other agent.
The problem is, the buyers have already met a number of agents and would prefer not to talk to you. In their minds, they know what’s available, so you have nothing to offer them.
The key to success in this situation is to put yourself in their shoes by recognizing that they will choose the agent that provides them with the greatest benefit. Building rapport may not be enough, especially if you’re competing against other top real estate professionals. You must have something that they want, and what they want is access to every available home. If the ideal home for the buyers isn’t listed in the MLS, they have no way of knowing about it and could be overlooking their best choice.
What if you had a pocket listing not on the MLS, or a listing that will be available in the near future that no one else knows about? Now you have something of real value. That’s why it’s important for you to have a pipeline of potential homes for sale. Use the following script:
“Mr. and Mrs. Buyer, I may have a home that would be perfect for you. I’m not able to share information about the home without checking to see if it would be okay with the sellers first, but it might be an exact fit for you at a great price. If you’d like, I can check with my clients to see if it would be okay to share the information with you. What’s your best email address?”
Buyers, like most people, tend to want when they can’t have. Even better, if they can be the first ones to preview the home, they will probably feel like they have an edge over all other buyers.
Finally, a pocket listing will give you ample time to build a relationship with the buyers.