10 Cost-Effective Tips to Boost Listings in a Tough Market

January 9, 2024
8:00 am

In today’s real estate market, generating home seller leads can be challenging, with low inventory and climbing interest rates. But with the right strategies, you can still thrive! Here are ten tips to help you effectively generate home seller leads in this competitive landscape.

1. Revive Expired Listings

When a home listing expires in the MLS, the owner often gets bombarded with agent calls. Search for expired listings within the past two years after most competitor calls have dwindled. Check tax records and MLS to ensure the sellers haven’t relisted. Then, call with a friendly script like this:

“Hello, I’m (your name) from (your company). I noticed your house was on the market last year (specific time period). Are you still considering selling it?”

2. Offer An Unsolicited Competitive Market Analysis: CMA

One way to impress homeowners is by providing a personalized home valuation. Take it up a notch by creating a video where you explain their updated valuation, showing comparable homes and potential net profits after closing costs.

3. Share Recent Sales

Let homeowners know about recent sales in their neighborhood to position yourself as their go-to agent. Try a script like this:

“Hi, this is (your name) from (your company). Your neighbor just sold their home for (sales price), which has boosted the value of homes in your area. There were multiple offers on this property, and it sold quickly. If you’d like to know how this sale affects your property’s price, call me for a free, no-obligation valuation analysis.”

4. Tackle Probate Listings

Probate listings offer unique opportunities, as heirs or estates often want to sell. Stay in touch while they handle legal issues of the estate, and you’ll be on your way to generating valuable listings when they are ready to sell the property.

5. Farm Your Neighborhood

Don’t underestimate the potential of your own neighborhood. Neighbors already know, like and trust you, so focus on this familiar ground. It’s a golden opportunity literally right at your doorstep.

6. Connect with For-Rent-By-Owners

Many rental property investors are potential sellers. Reach out to them, as they often buy and sell properties regularly. Your call could lead to discussions about selling their properties or acquiring new investments.

7. Target Recently Built Out Neighborhoods

Look for neighborhoods where the builder’s sales team has moved on after selling out. These homeowners often lack a trusted agent and have substantial equity to sell. It’s an ideal place to find seller leads.

8. Leverage Your Open Houses

Open houses can uncover potential listings. Invite neighbors to view homes before the general public to compare their property to the one on display. It’s an excellent way to identify neighbors considering selling.

Looking to make the most of your open houses? Download The Ultimate Open House Checklist now to discover how you can uncover potential listings and gain an edge in your real estate endeavors. Don’t miss out on this valuable resource!

9. Engage with For-Sale-By-Owners (FSBOs)

FSBOs have already expressed a desire to sell. Many ultimately turn to agents for help. Show them your value, marketing, negotiation, and legal expertise to gain their trust and secure listings. Leave a door hanger with your business card when you see an FSBO sign or ad on local platforms.

10. Nurture Your Top 25 Contact List

Maintain a strong connection with the top 25 people or past clients in your sphere of influence. Regularly reach out with calls, texts, or private messages, ensuring you stay top-of-mind. Show appreciation with small gifts or thank-you cards for referrals, and watch your business thrive.  Here’s a simple method: Reach out to one person from your list every weekday. This keeps you in touch with each of them about once every five weeks. It’s a strategy that guarantees your communication stays steady and your relationship with this important group remains strong.

These tips can be your secret sauce to success in a challenging market. Stay proactive, build relationships, and create value for homeowners to generate more home seller leads.

When you join Fathom Realty, you will have access to technology, extensive training, and local support from experienced leaders. We are committed to helping you grow your business and succeed in the real estate industry. Join us and become part of the Fathom family that values service, strong culture, and excellence in all that we do.