I remember when I first started in real estate back in 2002, the group I was with were emphatic about Focus Marketing. Focus Marketing was a strategy to be on top of your area or patch and be the first one to react when an opportunity arose. There were a few components to this
- TRACKING – Track all the new listings in your area, create a spreadsheet with the date it was first advertised and then on a weekly basis track and comment on any changes to the listing, for example price, method, marketing, etc. These days with RP Data it is very easy to do this. You could then begin introducing yourself to the sellers at a certain point and begin building the relationship with them with the hope of getting the second bite at the cherry. If you have some moral guilty conscious about doing this, leave it for those who don’t 🙂
In Real Estate Brilliance, we have a complete 5 Step System with scripts and dialogue on how to best do this to increase your opportunity rate.
- SIGN DRIVE – Do a sign drive once every 2 weeks to check what new signs are up, what signs are down, which ones are under offer, and which are sold. You should also take notice of all homes that have had some changes to them. For example, houses that have had the gardens done, exteriors painted, renovations (a skip bin is always a good indicator), fresh mulch, contractors present, in fact any activity on a home could mean they are getting the property ready for sale. You can then stop the car (DRIVE KNOCKING) and introduce yourself saying, “Hi, my name is Ryan from your local real estate agency, and I couldn’t help but notice you are currently in the process of (reason). I know it’s a long shot, but sometimes when folk are having their (reason) done, this means they may be thinking of selling”. You will be surprised how much business you get.
- THE EXPERT – The last component to this method is to be the Local Expert. When you are presenting an appraisal and going through the comparative sales and properties for sale, you can draw on all of your local knowledge gained from your research and investigation. Sellers love listing with agents that are all over the sales and prices in the area. Remember knowledge is power. You will also be able to draw comparisons and accurately educate the seller on what their property is worth, making you the absolute expert in the area.
The thing about Focus Marketing is that it is so powerful and helpful for your business, but it takes time and management, meaning not many agents do it. In fact, I have hardly heard about it being used since back in the day. One of the most important contributors to success is doing the finicky things that other agents won’t do and being consistent with them. Try it out and reap the rewards.
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