If you’ve ever dreamed of having a four-day workweek and spending weekends at your vacation home, Dirk Zeller, CEO of Real Estate Champions and one of real estate’s top coaches, has advice for you. By his fourth year in real estate Zeller had achieved that dream: he was selling 150 homes per year and spending Friday, Saturday, and Sunday at his vacation home each week. The secret, he explained, is that “it comes from the listing side of the business.”
Understand the Marketplace
In his recent webinar “Creating Listings in Low Inventory Markets”, Zeller explained that in today’s marketplace listings are selling fast. Because of the quick turnover time, real estate agents don’t need to spend as much time servicing listings, so, according to Zeller, “you ought to shift your time to sales.” With the limited inventory, “we’ve got to make sure that we’re in the mode where we’re getting more listings because there aren’t enough listings in today’s marketplace.”
One point about the marketplace Zeller wants you to understand is that “we’re not going to miraculously have a whole bunch of new listings flooding the marketplace.” There are a limited number of properties that will be listed and “now is the time to seize the overall opportunity of the marketplace, whether it’s going up or down…change in a marketplace is good because it helps build urgency on the part of buyers and sellers. It enables you to build urgent situations and movement in a marketplace.”
Create Listing Opportunities
With the current market’s low inventory and quick sales, Zeller stresses the need to “shift your schedule and shift your strategy to focus on sales and sales acquisition, and this is what I call Direct Income Producing Activities (DIPA).” More time needs to be spent generating leads. “If you want to attract the listings and opportunity you want, it’s going to come from spending more time going after them.”
Zeller suggests developing three or four different listing-generating revenue streams based on your strengths and your particular market. Some possible ways to find listings include door knocking, direct mail, social media marketing, expired listings, notice of defaults, referrals, past clients, lender business, sphere of influence, signage, for sale by owner listings, and homeowners’ associations.
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Once you find a prospect, your job isn’t to get them to list with you, it’s to get them to meet you for a service presentation meeting. Zeller stresses that real estate agents “are all more persuasive face to face.” He backs this assertions with data from the NAR Profile of Buyers and Sellers showing that 67 percent of buyers work with the first agent they meet with. That’s ⅔ of buyers, so “you and me, all of us, we’ve got to get face to face. That’s the game that we’re playing. That’s the strategy we need to employ.”
Shift your focus to winning more listings and you too can achieve the four-day workweek! Visit SecretsofTopSellingAgents.com for more advice on “Creating Listings in Low Inventory Markets” and get ready for even more great listing tips on October 19th, 2016. Pat Hiban will be live in his webinar titled “Lost a Listing? Never Again with These Best Secrets.”