4 Ways to Make Sure You Don’t Lose Listings to Your Competitors

We know that 1 in 10 homeowners are considering selling this year. In fact, 63% of those folks are going to be selling in the next six months.

There's a massive surge of listings about to hit us. This is based on the survey that was done by realtor.com recently.

So the question is, what are you going to do about that? What are you gonna do to get ahead of this tsunami that's coming at us when it comes to listings?

Because if you don't get ahead of it, your competitors are going to take advantage of it.

I'm gonna give you four things you can do right now to get ahead of this curve so you can take advantage of all these sellers that are about ready to come to market.

1. Form your own neighborhood and sphere of influence.

If you're not constantly in communication with the people that live closest to you and/or your sphere of influence, you're losing opportunities.

What does that mean? It means that you're sending an email out once a month. And some of my coaching students do this twice a month so that everybody's getting a high level of communication.

The best communication they can get from you is an update about the market combined with some testimonials about how good a job you do from your raving fans.

This could also be a physical piece of mail that they receive in addition to your email. So you can have two layers here. Of course, we can be reaching people through social media. We can be reaching people through texts and calls.

There's so many different ways that we can reach out to people in our local informing area — ideally around our house and/or our sphere of influence.

Look at this: Go back six months ago in your business and say, what have I accomplished in terms of communication with my farm and/or my sphere? Did I really live up to my potential here? Or did I fail myself at any level?

If you didn't live up to your full potential, make a list of everything you want to do going into the next six months in those two categories.

2. Offering unsolicited CMAs to people within your database.

This is one of the most powerful things that we've been doing lately. This is where you pick a homeowner in your database and you do a CMA. They didn't ask for one, you just did one. And you deliver the results through a video — through Zoom or BombBomb. And you say:

"Hey, listen, I did a little quick CMA because the market's bananas. I'm just doing this for all my friends. I know you didn't ask for one, but I thought I'd give you a quick update on your home value. And this is probably within about 5%. By the way, I brought up a net sheet to show you what you would actually net out of the sale. I didn't include your mortgage because I don't know what owe. But this is a pretty good feel for what you'd probably net. If you want me to narrow it down and get it more specific, I can come by the house and take a look. If you know of anybody else that's thinking about what their home is worth or would be curious to know what their home is worth, I'm happy to do this for them."

Lots of my students are crushing with this concept. Just one unsolicited CMA a day.

3. Start doing open houses again.

We're seeing massive attendance at open houses. I had an agent last week who had 40 attendees at one open house. 40! I've heard stories of ones with 75-80.

Remember: 72% of the people attending an open house in this market are sellers in disguise. Meaning, they still have a home to sell, which is absolutely bananas.

Also, you can circle market around every event. 

Here's what I mean: 

When you're showing a home, that's an opportunity to circle market. If I show four homes this week, I could be talking to 10 homeowners around each one. That's 40 calls, 40 texts, 40 cards I could write that just say,

"Hey, I just showed your neighbor's home. My buyers loved the neighborhood, but the home didn't quite fit all the boxes. I'm wondering if you guys would ever consider selling for the right price, if we gave you plenty of time to find your dream home?"

That little script will unlock a ton of opportunities, but I just don't have to do it around showings. I can use that script when I write an offer, but I'm unsuccessful.

I can use that in a multiple opera situation when I am successful.

There are so many ways we can circle market. I call it hot zone market around recent trigger events. It'll blow your mind.

Many of my students use circle marketing as their sole source of lead generation. And they crush it. They can literally parachute in any city in America and instantly start crushing it with these concepts.

Is it hard?

Yes.

It takes work. It's not easy, but they get in the mood of the grind. They figure out that they have to master the mundane in order to master sales. They have to do what it takes to get to the top of the hill. And that's what they do. They jump in and do the work.

4. Directly asking for referrals.

When's the last time you straight up asked for referrals from your sphere? Have you ever just straight up asked for referrals?

And one way you could do that is through texts, which makes it pretty painless. Or through a phone call and having a natural conversation.

And here's what you can say:

"Hey, new study shows 1 in 10 homeowners are considering selling their home this year. I'm now offering a total market overview that'll provide any homeowner with the 360 degree view of the market. Much more in depth than a traditional realtor CMA."

By the way, a CMA is kind of a ham sandwich of real estate. Everybody offers everybody one. People will take one but it's kind of boring. The TMO — that's where you get the big, big, big report that sellers flip for.

If you want to learn how to build a TMO or you want to take your business to the next level with more ideas like this, then join 

The Path Performance Coaching Platform at https://www.erealestatecoach2.com/Three%20Reasons.

The Path Performance Coaching Platform is a mentorship program for agents and brokerages, which includes:

+ 16 Weeks of Daily On-Demand Coaching so you can find more high-quality leads more often and turn them into more listings
+ Hundreds of Downloads - System, Forms, Checklists, and scripts to make your job easier
+ Live Coaching - Multiple Times a Week
+ Goal Tracking and Activity Tracking
+ New Marketing Assets Delivered Weekly

The coaching platform helps you succeed faster with less headaches and frustration than doing it by yourself.

And you get two weeks to try it out for free. Visit https://www.erealestatecoach2.com/Three%20Reasons