It’s no surprise that real estate is a sales business and to be successful you must be doing one or both of the following to generate a commission: you are selling your listings OR you are selling someone else’s.
Nothing happens until something gets SOLD – It really is that simple.
If you don’t have any listings, you need generate leads to get new listings. You have to have an inventory to sell or you need to generate buyer leads to sell someone else’s listings.
Either one is ok, but you have to constantly be filling that lead funnel to ultimately generate sales.
In fact there are really ONLY three ways to grow a successful real estate business:
- Lead generation – generating cold leads, incubating them and converting them from suspects into prospects.
- Leveraging current opportunities – we call this Compound Prospecting – where you leverage listings, buyers etc to generate more leads.
- Critical Mass – this is working your sphere of influence and growing your business by referrals.
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So what do you do if you don’t have listings?
Well, the easiest path would be to start marketing company listings to generate some buyer clients.
This could be done doing open houses for fellow agents in your office … and before you say open houses don’t work … let me remind you if done correctly they will generate buyer leads and yes, on occasion, you will capture seller leads too!
Yes, many times potential sellers go to open houses to do market research and to audition potential agents.
What better way to see how an agent works than at an open house – to see them in action.
Questions potential sellers will be asking themselves
Was the agent prepared, did they make visitors sign-in before touring the home, was the home staged, were there plenty of open house signs directing traffic, were professional feature sheets available, what about follow-up? etc.
That being said, if you are going to do open houses then you need to be focused on all the above as well, especially if you plan on generating any buyer leads.
This is the makings of another article altogether but you get the point. Open houses can work if you work them properly.
But enough about open houses because there 30 proven systems that you can use to get two or three more leads from every client, most without spending any extra money!
That’s what I mentioned earlier – remember – Compound Prospecting.
Here’s one of my favorites and it has to do with sending out “Just Sold” postcards.
Obviously, you need a sold listing but it doesn’t necessarily need to be yours.
Ask you broker permission to use a recent office sold or ask one of your fellow agents. Chances are they aren’t sending out anything, so why should you waste out on this opportunity to generate some potential buyer/seller leads?
Now before you tell me postcards don’t work, let me say that what I am going to share with you is NOTHING like the traditional “Just Sold” cards your company or other agents use.
This is specifically designed to fly under the radar and captures the reader’s attention, invokes their curiosity and gets them to take action!
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I’ve linked the postcard, broken down for you, below this article for you to study. Obviously, you’ll need to edit the text to add your contact info and details. But don’t overdo it. Trust me, it’s powerful as it is and you can easily print it off using your office printer and some card stock. It is not designed to be fancy or flashy- it is crafted for lead generation.