How To Sell Your Real Estate Listings
Today we are going to get into the details and philosophy of how to sell a listing. I have a lot of content about how to contact the property owners, what to say, and how to get the listings. So, I have a ton of agents reaching out to me wanting to know what to do to SELL their listings.
So how do we sell our listings? There are two avenues that we can take when we are trying to sell listings; 1) Actively-which is actively trying to take actions to sell the listing initiating some kind of offer in some way, and 2) Passively-to sell a listing where we throw it out in the universe and see what happens and hopefully something comes back to us. You have to do both if you want to give each listing everything you have. You must do everything on the passive and active side to help the listings sell. Before we get into that I have to tell you that listings are going to sell when they get ready. You are not the real estate God and there is not going to be a whole lot after you price it right, put it on MLS, and give it a great online presence. It’s basically in front of every possible buyer through all the syndicated websites, online presence, and social media. You have done what you are supposed to do on the front end, and you have to be patient sometimes. These things don’t happen overnight, sometimes listings do sell in a day and that’s wonderful, but on average they do not. Markets go up and down. You may be in a market where everything sells in a day or you could be in a market like mine where average days on the market is 60-70 days. You have to understand that things don’t always happen as quick as you want it. There’s nothing you’re going to do that will make that listing magically sell immediately, but we are going to get into everything you can do to give it the best possible chance to sell the fastest.
Passive Action to Sell Your Listings
Let’s talk about all the passive things you can do. This is very important. It’s passive so you’re not doing a lot, but you must do all the upfront work to make this really happen. The first thing is pricing, you have to price the listing right. If you put a listing out there, it’s not selling and you are way over the average days on the market, chances are it’s overpriced. There’s nothing you are going to do to make an overpriced listing sell. You could get lucky, but most of the time when it’s overpriced, that’s what keeps it from selling. You don’t want to be that agent that lets a property expire as an overpriced listing and have another agent sell it at a lower price because the seller realized it expired because it was overpriced. It all starts with price; a lot of sellers problems end up being price related. Let’s take it a step further here, we want professional pictures. Every listing that I have, I hire a professional photographer. He charges anywhere from $125-$175 depending on the size of the house. A lot of people get drone shots and do virtual tours. You have to have a professional online presence as far as the pictures, graphics, drone footage, and whatever you do. That also comes all the way down to the remarks. The remarks need to be spot on and highlight the most sell-able features of the house first and really showcase it. Once we have our online presence set up, you want to make sure everything is perfect because the first day on the market is the most important day. Most eyes will see it when it’s brand new because people are looking at new listings most. Later on when you reduce the price, buyers don’t see that nearly as much as when it’s a new listing. It’s okay to wait a couple days to ensure everything is right. That way the first day it is on the market and it’s getting all the attention, you have everything perfect and we don’t lose any interest. Once you put that information out there, it goes everywhere. Once you put this in place it is done, now you are sitting there and letting it do it’s thing.
Active Action to Sell Your Listings
Let’s talk about the active things that I do once the passive part is done. The first I’m going to do is send a postcard to that subdivision or complex just listed. I want to alert every owner I can through direct mail that I have that listing. The second thing I am going to do is create a Facebook post about the listing on my business page. I’m not going to boost or promote every single listing, but I am going to promote a lot of them. Just putting it out on the business page is going to bring a lot of activity. I also feature the listing on my weekly email that I send out to all of my clients/past clients/future clients. My favorite active activity that I like to do for listings that actually brings me more listings and business is that I like to make phone calls around the listing. I like to call all the owners around the listings and use my circle prospecting phone script. This opens up the door. It promotes the listing. Now, they know about that listing. Now, they know you have it listed, and you are asking them if there is anything else in the world you could do for them. They might be interested in the listing, they may know someone interested, they may be interested in selling their property, they may know someone who wants to sell their property. You don’t know what they may want to do, but you are opening the conversation up and letting them know you are an agent, active in their area, and you want to help. This is how we develop these relationships. You’re bringing attention around the listing and at the same time developing new relationships with more property owners in that area. I love dual purpose, I love taking activities that can be used for many things to build your business. Notice a lot of the things I do have more than one purpose. It’s all multipurpose because you want to be most efficient and when you can do two things with one action and have the possibility of several different outcomes. That’s when magic happens for you, your career, and your family. Everything goes to another level.
Like I said, there are two different paths you can take with selling a listing; active and passive. I think you should do both and remember what I said in the beginning you are not the real estate God. You don’t make properties sell, they sell when they want to. What you need to do is concentrate on using that listing to try to create more relationships and grab more listings. One listing is not going to be the make it or break it for you. Do not put so much energy into trying to sell each listing. Focus more on the relationships, getting more listings, more deals, and helping more people.