In this advice column, Marketing Mastermind Christy Murdock Edgar answers three burning questions from the real estate industry at large. This time, we’ll look at how to get listings.
Chronic home inventory shortages have been a topic in real estate circles for years, and the upheaval caused by COVID-19 has just made that problem more evident.
Even as buyers braved stay-at-home orders to continue their home searches, sellers in many markets decided to sit tight and wait to see whether or not to put their homes up for sale.
Now, however, it has become clear that the buyers are out there. How can you convince sellers in your area to list with you? This month, I’m looking at three different parts of the equation that answer the question everybody seems to be asking in the industry: Where can I find my next listing?
1. Find sellers by changing your messaging
In other circumstances, your marketing message might be about why you’re the most effective agent to help sell a home, rather than convincing homeowners to sell in the first place. Now, however, many sellers might be reluctant to put their homes on the market because they are uncertain about the economy, the election and other aspects of life in 2020.
To counteract this sense of uncertainty, you need to create a value proposition that explains why now might be the right time to sell a home. This could include any of the following true statements:
- Now is a great time to sell because of pent-up buyer demand and a later-than-usual hot market.
- Now is a great time to sell because low inventory might make homes more desirable, even if they don’t have all of the latest and greatest upgrades.
- Now is a great time to sell because the combination of low interest rates and low inventory has resulted in unprecedented buyer interest.
- Now is a great time to sell larger homes because permanent work-from-home policies have resulted in a desire for more space, including multiple home offices.
- Now is a great time to sell luxury homes because COVID-19 has increased demand for homes with more outdoor spaces and upgraded recreational amenities.
2. Find sellers by changing the medium for your message
Although you might have homed in on the right message, you might be struggling with getting that message across. What worked for you prior to March might not be working now, and if you put a lot of emphasis on in-person networking, pop-bys and events, you might be uncertain about how to stay connected.
More individuals and companies are using this time to revamp their online presence in anticipation of a permanently altered marketing landscape.
Whether you choose to go all-in on a new blog, refine your email marketing strategy or put together a more cohesive direct mail strategy, now is the time to ensure that you are getting your message across in a variety of ways.
Update your social media game to distribute your content to an even wider audience and grow your influence.
Explore options like hiring a PR professional or making connections with journalists in your market. Seek out avenues like HARO (Help a Reporter Out), or reach out on social media and become a trusted source of insights and information. An expanded reach will pay dividends for your business both now and in the future.
3. Find sellers by emphasizing your virtual marketing capabilities
One of the most effective ways to reassure anxious sellers is to emphasize your ability to effectively market their listing in a time of social distancing. Show that you understand the technology needed for virtual showings and home tours by providing examples so that they can see the technology — and you — in action.
This is also a time to put together stats for your platforms. Do you have an impressive follower count on Instagram or great traffic to your website? Is your Mailchimp open rate something to brag about?
Put together an easy-to-digest infographic or flyer to show potential sellers that you understand how to make a big impression online — and that you are able to get their listing in front of more potential buyers than your competitors can.
Make sure that your website is up-to-date and that all of your digital marketing is fully optimized. That will give sellers additional reassurance that you know what you’re doing when it comes to marketing their homes virtually because you’re effectively marketing yourself the same way.
Do you have questions for the Marketing Mastermind? Send them here.
Christy Murdock Edgar is a Realtor, freelance writer, coach and consultant with Writing Real Estate. She is also a Florida Realtors faculty member. Follow Writing Real Estate on Facebook, Twitter, Instagr