If you’ve been in the business for a while, you’re probably well aware that there are some key benefits to working with real estate seller leads.Key benefits of working with real estate seller leads:
- You have more control over your time
- You can take on more clients at a time
- You have the opportunity to represent both sides of the deal
- Bidding wars in a low inventory market can mean higher commissions
The 2018 NAR Profile of Home Buyers and Sellers Report states that 39% of all sellers were referred by (or is) a friend, neighbor, or relative; 24% used agent previously to buy or sell a home; 3% referred by another agent or broker - 66% combined. The takeaways from these statistic are two-fold:
- Referrals are incredibly important as they account for the majority of new home seller business.
- 34% of sellers are going through other channels to find an agent (for example, 4% of sellers found their agent on a real estate website, 4% met an agent at an open house, etc). which means that there are plenty of additional real estate marketing avenues to explore when it comes to reaching and attracting new seller leads.
Not surprisingly, highly coveted seller leads can be difficult to come by, but we can help.
6 Proven Real Estate Marketing Ideas for Seller Lead Generation:
In this article we’ll present you with four real estate marketing ideas to help you capitalize on these opportunities and get more seller leads.
1. Leverage Your Current and Past BuyersTo generate solid referrals, strike while the iron is hot! After you hand over the keys, show your buyers you appreciate them and provide great follow-up to help solicit referrals.
- Offer your buyers a small congratulatory closing gift (and be creative!)
- Include a small stack of your business cards and ask your buyers to share them with anyone who may be in need of an agent
- Since closing is a hectic time, follow up with your buyers in a week to thank them again - and remind them that you’d love any referrals.
Referrals from past clients may not guarantee you seller leads, but this is a great way to open that channel with minimal effort.
2. Go After For Sale By Owner (FSBO) Listings
90% of sellers who attempt to sell their own property aren’t able to complete the transaction. This is typically due to some combination of inexperience, limited resources, poor marketing and overpricing.
Trying to sell a home is extremely stressful, especially when you don’t have a background in real estate – presenting a great opportunity for you to come in and save the day! Look up FSBO listings on Craigslist and reach out to offer your services – perhaps a free consultation – to take full advantage of this technique.
3. Contact Sellers with Expired Listings
Why do listings expire? Much like we discussed with FSBO properties, it’s typically because the expired listing is overpriced or is not being marketed well. Once again, you have the opportunity to step in and save the day.
In contrast to the FSBO method, you’ll need to rely on your MLS to pull a list of expired listings. Sellers with expired listings may already be working with another agent – but considering that the listing is still on the market and unsold, they may be motivated to explore all options.
Reach out to the seller to let them know that you can help them with their stalled listing. Come up with a game plan on how you will generate exposure for the listing. If the plan is good and pricing is in line with expectations, you may well find yourself representing the seller moving forward!
Pro Tip: The best time to contact expired listings is at the very beginning of the year.
4. Search for Sellers Leads on Facebook
Facebook has done a lot to improve their search functionality – specifically in building out the detail with which you can search for people, places and things from your profile page. Did you know that you’re able to look up keywords and locations in the search box at the top of your Facebook profile? Give it a try! If you type in your city along with a few keywords associated with selling a home – things like packing, house hunting or moving – you may very well find individuals in your extended network who could qualify as seller leads.
Want to give it a try?
Download our free Facebook Graph Search How-To Guide for complete instructions.
Pro Tip: To source buyer leads, you can also look up things on Facebook like ‘recently engaged’ or ‘recently married’ – two key life events that can signal that a couple is getting ready to purchase their first home.
5. Target Consumers with Facebook Ads and Convert Them into Leads
Every Facebook 2.41 billion monthly user becomes accessible through Facebook Ads and you can set up behaviors, demographics, and interests to hyper target consumers in your local market. Facebook Ads are like billboards of Facebook and are very powerful for driving traffic to your website, and in turn generating leads.
When you sign up with Zurple, we'll guarantee you an amount of monthly seller leads, create Facebook Ads on your behalf, and drive more traffic to your website. Once they become a lead in your CRM, our system will automatically follow up and nurture them until they display hot behaviors. When they do, you receive an alert letting you know it's for you to contact them. Don't worry, we'll keep track of each message, reply, saved listing, home search, etc. so you have the ammunition to follow up with a comprehensive conversation about real estate.
6. Meet Home Sellers at Open Houses
During an open house, you'll encounter first-time home buyers as well as second-time home buyers. These second-time home buyers are looking for a new home and looking to seller their current home. There aren't many opportunities to meet a lead for an in-person interview or appointment, but an open house encounter expedites the process.
Of course, you'll want to ask the right questions in order to get the answers your looking for. Ask them about their home and if they're looking to sell: about the features, how far along the selling process they are, if they’re going to stage, and other similar topics. You can offer a complimentary home valuation and anything other services you can provide through your network – movers, cleaners, landscapers, etc. Make sure you get their address on the sign in sheet and try to set an appointment.
Which techniques work best for you? Let us know in the comments.
Editor's note: This blog was originally published in May of 2017 by Jessica Schweppe and has been updated by Brian Lim for accuracy, brevity, and comprehensiveness.