Five steps to help you find motivated sellers in a low-inventory market.
The difference between a good and a great real estate agent is the ability to find motivated sellers. However, inventory is so low in this market that it can be difficult to find normal sellers, never mind motivated ones. Today I’ll share five steps you can take to find them and generate leads:
1. Find the low-hanging fruit. The owners of expired, canceled, or for sale by owner properties have already tried to sell. They’re motivated, so reach out to them to get some great opportunities.
2. Create a marketing plan. What will you do to reach out to sellers once you find them? Have a strategy in place. Make your marketing plan fit your personality so that you’ll have an easier time with the implementation.
“Following up is paramount to an agent’s success.”
3. Send your direct mail and wait for a response. This is where you throw out your line and hope for a bite. A typical hit rate for direct mail is about 4% to 5%, so if you send out 250 letters, you can expect around 12 hits.
4. Filter your leads. Have a script and know the questions you’ll ask beforehand.
5. Follow up. Generally speaking, someone will return your call after eight to 15 touches. Following up is paramount to your success. Be sure to do it in a professional way; you don’t want to pester them.
If you have questions about these steps or anything else, please give me a call or send me an email. I look forward to hearing from you!