Once an agent has been successful securing a listing, one of the top priorities on a daily basis is to strategize to determine the best “Next Step” to take to sell the home. As discussed earlier, the key step to converting a listing are as follows:
2. Target Market
After completing exhausting research to determine the target market of buyers that are most likely to purchase your listing, and developing a powerful presentation to exploit the best features of the home, the last step is to determine the channels of distribution that are most likely to give your listing exposure to the world, or more importantly, give your listing maximum exposure to your target market.
The distribution of message is a critical step to converting listings to sales. Many of the channels are obvious, but other key approaches may be overlooked. An agent should consider all of the following:
- MLS Listing Information– Photos and Remarks should be impressive and to the point. As discussed earlier, the focus should be on lifestyle, not just the facts.
- Internet exposure– Once again, if you try to have a home appeal to everyone, you miss the boat with the people that are the most likely buyers. Focus the message “and inch wide and a mile deep.”
- Neighbors- Everyone, including agents that live outside of the neighborhood the home is located in, can’t completely appreciate the benefits of living in the community. Be sure to enlist the services of the people that are “committed” to the area, as opposed to just people that are “involved” but live somewhere else. Encourage residents in the same location to help “pick their neighbors” by referring great candidates to you.
- Top Buyer Agents– This is also a critical group. Most agents don’t sell their own listings. the majority of homes sell with the help of other agents. There may be thousands of agents in your Local Real Estate Board, but there are usually less than 100 that have actually sold within a specific area. Do your homework and identify those agents that have sold in the area where your listing is located. Create e-mail or direct mail messages that “sizzle” so these successful agents are compelled to open the e-mail or envelope and read about your listing. Because timing is everything, you should plan on multiple contacts about key changes to your listing. Remember, an agent may not have a buyer when you send your first piece, but when the fifth communication is sent, they may have just met a buyer that will be interested in your listing.
- Your Sphere of Influence- The people that know you are the people that are most likely to want to help your business. Be sure to keep them informed of your new listings and significant changes in existing listings. Social media postings on Facebook, Twitter and Linked In, can be ideal sources of distribution.