How To Think Up When Your Real Estate Business is Down

Renae Virata | July 27, 2015 | Resources for Real Estate Leads & Referrals

How Think Up When Your Real Estate Business is DownGeneral real estate business advice always sounds good when the numbers aren’t too bad. Increasing follow-up an increment here and there, changing up your target audience or implementing a new technology fuels the spirit when your spirit is already high. But what happens if you are an agent with a less than stellar record, say ten or less sales in a given year? It makes all that great advice seem completely irrelevant!

First off, don’t beat yourself up. One bad year does not a bad agent make. Find motivation in your ambition to turn things around. Second, have clarity around your situation. Are you new to real estate? Were you not as aggressive as you had planned to be or could have been? Did you not follow up consistently? Whatever your answer is, you can bet that giving yourself a chance to make some changes and get back on track will improve your numbers dramatically.

And if, after all that, you are still convinced that you have done everything possible, then look no further for leads than your own office!

Expired Listing Program

Most offices have them, and most agents move on from them. Time to make your move! An expired listing is already a qualified lead. Don’t believe that seller has given up. Show up at their door. Demonstrate to them just how hard you will work for their business and, in turn, how hard you will work for them.

Listings and Just Solds

This may sound counterintuitive, but if done right, it could yield some pretty good leads. How? If the home seller is dissatisfied with their agent, they can turn to you once the listing expires just because you showed up.

The “just solds” can also be a great source of referred leads who were inspired by their friend’s recent sale to consider selling their own homes. What do you tell the seller? Congratulate them on their recent success, mention you just sold some homes that past year and you are more than happy to help anyone they know do the same. Don’t be afraid to make that move. If they don’t want you to call them, then mark them so on your list. But you never know what will come of asking unless you do.

Abandoned Clients

Your desk neighbor decides to leave real estate, retires or moves to another city. What does that mean for you? A complete book of leads, ripe for the picking! Ask your broker in advance to send those leads your way. Once you have them, start following up!

Even if you’re not completely sure what previous conversations took place between the former agent and each lead, you can simply provide a courtesy call that is simple, to-the-point and honest. You simply want to reach out to understand their situation. Offer what you can to them. Ask questions to learn about their situation first then earn the client back despite their previous connection with your firm. You may build a better relationship with that person and convert them faster than the other agent would have.

It will take time to build your database, but by covering these different lead opportunities, you’ll gain the confidence you need to succeed and build practical relationship-building, follow-up and conversion skills. Who knows, these could become the niche leads you’ve been waiting for.

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Renae Virata