You’ve secured the listing. What a relief! But, wait. You still haven’t earned any money. The next big step is to figure out how to sell your listing. Before you begin utilizing ISIT (Identify, Strategize, Implement and Track), it’s imperative you have an idea of who is on your team. You may be thinking, “I’m not a heavy hitter so I don’t have a staff or junior agents to rely on like the big guys.” This is not so. Your team is much bigger than you think. Your team is comprised of at least 6 “Go To” partners, even if you don’t have staff members to rely on. Consider all of the people you have to rely on to get the job done for your sellers:
- You- Of course, you’re going to give maximum effort. If you can’t depend on yourself, the conversation is over and there is no need to go any further. So, challenge yourself to be creative. Think outside of the box by working your strategies on a weekly basis. Remember, we only use about 10% of our brain power. That means 90% of your true potential is in your subconscious and is not being managed. Track the success of each Next Step before implementing a new strategy.
- The Owner– Don’t forget the owner is receiving 94% of the proceeds from closing. You usually receive the other 6%. It’s imperative you employ the services of the owner to maximize success. The partnership starts the day your seller signs the listing agreement. A great starting point to strategic planning is to find out why the sellers purchased their property and what they like most about it. You should also exploit your seller’s sphere of influence by including the sellers sphere in your marketing efforts. With permission, it’s even possible for you to add your seller’s contacts to your database. One other note, don’t be shy about reminding the seller of the importance of their participation.
- Your Sphere of Influence– There is a double benefit to including the people you know in your marketing communications. Not only are you taking a shot, you also are keeping your name in front of the people that are most likely to refer future business to you. Best of all, they are seeing how you are representing other people and remembering to think about you if they have a real estate need.
- Other Realtors– Consider the fact that most listings are not double-sided and you can appreciate the value of networking with other agents. This group is nearly as important to your success in business as your clients are. Be sure to treat other agents with the utmost courtesy and respect, so they want to show your listings before anyone else’s.
- The Neighbors– This is a great group to rely on for support in selling your listings. Consider the story of the Pig and Chicken and breakfast. The Chicken is “involved” in breakfast because the chicken laid the egg that you eat. The Pig is “committed” to breakfast because it is breakfast! The neighbors are like the pig in the above anecdote. They are committed to the neighborhood because they have chosen it over any other and understand the value of living there. Why not exploit their commitment? Also, keep in mind that when you are involving the neighbors, you are building your Farm.
- Your Company– Why not get your company involved in the sale of the listing. Remember, two heads are better than one. Your broker/owner or company also stands to benefit financially from the sale, so it makes sense to have them participate, or at least use them as a resource.
- Your Business Contacts– There are always a number of other professionals involved in the sale of real estate. These professionals should be included in supporting your efforts because they also indirectly benefit when you are successful. Be sure to take another shot by keeping them in the loop.
By identifying all of the players that will be involved in your success, you can now move forward developing a strategy that will maximize your success representing sellers.