Real Estate Prospecting Opportunity Archives - Wade Webb Real Estate Coaching

Opportunity Time For Real Estate Agents In Shifting Market.

Wade Webb on July 19, 2023

Looking for opportunity in this shifting real estate market?

When I hear agents complaining about the real estate market and acting as if they just need to wait it out until they can get back on track or start growing again, it makes me a little sad. It also makes me more than a little frustrated. Because not only are there still real estate opportunities out there, but for agents who know where to look, now is the time to leap ahead of your competition and grow your real estate market share. That’s what this blog is all about. I’m going to give you four reasons why a recession such as this one is not your enemy, but your opportunity to make an impact. Let’s not waste any time. Read these all the way through, and then get to seizing this moment while it’s still here.

A Professionals Market – Having been in this business for over 28 years, I’ve seen my share of hard real estate markets: Black Monday, the internet bubble burst of 2000, post 9/11, and 2008. And what I’ve seen every time is that the real estate industry becomes trifurcated into three segments: The non-producers who only sell a house or two now and then, if ever. This group tends to drop out during a recession. The Moveable Middle: full-time agents who sell some houses but aren’t super committed and always seem to be struggling. Many of these agents will stay exactly where they are during this time, and many will also drop down to non-producers. But then there are those who rise into… The top 25% who keep crushing it and have some of their best years ever during hard real estate markets. If you’re in the middle group and putting in all your effort then I’m talking to you, because this is the time to sharpen your skills and prove what you can do. Agents who got their start just a couple years ago where homes were flying in seconds are going to be hurting right now, because they didn’t have to work with discipline. So, now is the time to hone it.
Most Agents Will Pull Back on Their Marketing – There is a huge opening in today’s real estate market right now. We are seeing that some agents who control most transactions in their geo farm have been pulling back on their marketing. And this is a major mistake because it allows enterprising agents to move right in. Going all-in on your real estate marketing is more important than ever in a slower economy. Because it’s the agents who make their presence known during the hard times that people remember. I’m not just talking about your advertising, either. You need make it clear that your job is to educate and take care of people. Provide Annual Equity Reviews, check in on past clients just to see how they’re doing, and put out free content online to let everyone know what’s going on. Be the “knowledge broker” in your real estate market.
Fear is Killing Consumer Opportunities – The reality of today’s real estate climate is that now is still a great time to buy a home, if… The buyer can afford it. And they plan to live in the home for a while. Right now, inflation and interest rates are some of the main drivers of fear, but what many people aren’t weighing this against is the asset they’re obtaining, which in most cases is going to rapidly build equity and be up for refinancing within the year. The agent who learns how to convey the data in the right way to show buyers and sellers the real estate opportunity in front of them is the agent who wins.
The Drivers In Every Real Estate Market – Here’s something else that I talk about at Roadmap… No matter what kind of real estate market we are in, life goes on, and there are seven reasons why people will always need to move. These Drivers are Diapers: Having a baby. Death. Diamonds: Getting married. Divorce. Diplomas. Defaults on a loan. Relocation.

So, I just gave you that list and it’s up to you what you do with it. Some agents will say “cool” and just keep scrolling. Others will work them into their marketing and targeting.

Don’t Let This Moment Slip Away. I’ll repeat that now is the opportunity to really sharpen your skills and gain the trust of the people in your real estate market, so don’t let it slip away. Yes, a real estate market like this does require you to work harder, but the work you do now is an investment in your future real estate branding. Be grateful for the real estate opportunity to shine during this difficult time. Hope this has been helpful and don’t feel shy about reaching out.

Strength and Courage,
Wade

The 5 P’s To More Real Estate Listings In 2021

Wade Webb on May 12, 2021

We can all agree there are dramatically low inventory levels all over North America and it is harder than ever to get a listing in this buyer charged pandemic market we are all in. An agent that has a listing focused business has the upper hand every time on the other agents versus the buyer agent who is struggling like they never have before. So what are the benefits of a listing focused business you ask?

8 hours or less to generate the same commissions working with a buyer 32 hours minimum.
Sells quickly.
The sellers buy from you once they have sold. Two ends.
Less marketing expenses to put out now.
Spin buyer and seller leads from the listing marketing.
We all own a business… when we have a sign up, we now are in business! Out of sight out of mind.

So those are great benefits Wade but seriously it is a battle out there with all the challenges agents face! What are those challenges?

Harder than ever to get the listing.
Sellers afraid they will list and then be left without a home.
Sellers afraid because they don’t have anywhere to go and nothing to buy.
Agents need mad sales, presentation, persuasion and appointment skills right now.
Agents need to be creative and have incredible thinking outside the box skills.
Be persistent and follow up like we never have before.

The solution? THE 5 P’s – PROSPECT, PACKAGING, PROCESS, PRESENTATION, POSITIONING. Lets look at each one….

Prospecting – Here are the top ones I see working from so many coaching clients.
A) Provide unsolicited CMA packages without the price to all your past clients.
B) Hand delivered bona fide buyer letters or Just Sold and buyers still needing homes letters tucked in the front door.
C) Geographic Farm
D) Database touches like notes, calls, drop bys. Give to get!
E) Agent to agent network referrals
F) B2B co marketing strategies with business owners, trades and service providers in your community.
Packaging – Having the most savage pre listing and pre buyer package delivered to a client prior to even meeting them. Here are a few samples of successful coaching clients of mine.
Process – Having the most compelling process that absolutely beats the competition for a listing by your process and how you serve a potential seller prior, during and after the listing process. See attached.
Agentsboost – Listing Seller Appointment Process
Presentation – Having the best presentation skills and being able to knock it out of the park when it is your moment “showtime” to show them why you, why your firm and why now? You only get one chance to shine and are you ready and does your presentation compete against any other agents presentation skills?
Positioning – Can you offer solutions and creative ideas for sellers in today’s market and get them to list their home with you? Eliminate their fears and get them to trust you with the process and position yourself for the signed agreement? Persuade them that this is the best market in history to sell a home and make a move.

There you have it! The 5 P’s To Listings. Prospect, Packaging, Process, Presentation and Positioning. Get the listings and work smarter and not harder and have the competitive edge on all the other agents in your marketplace, you will be so glad you did. Feel free to email, comment with your ideas and success stories you are having getting listings in today’s listing depleted market, I would love to hear from you.

Strength and courage,
Wade

FSBO – For Sale By Owners – Awesome Real Estate Prospecting Opportunity

kelowna on March 20, 2013

Are You Taking Advantage of the Opportunity “For Sale By Owners” Possess?

By far one of the best
prospecting opportunities
in real estate are FSBOs or
For Sale By Owners!

Why, you ask?

Here are some of the top
reasons I believe you should
be actively marketing to potential
clients who are attempting to
sell their own home.

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They already own a home
They already want to sell
They are not only a seller but a potential buyer
They will list if unsuccessful in selling themselves

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Hmmmm… see some potential here?

Keep in mind these people just want to save money.

Think about it, you can’t blame them for wanting to try and save money. Can you?

So why tell them they can’t?

Why tell them they are nuts for trying?

Isn’t that being a bit hypocritical?

What about this?

Why don’t you try and help them sell themselves?

Aren’t you in the business of helping people buy and sell homes?

A mentor of mine Mark McKee shared the secret to “FSBO success” is reciprocity!

You got to give to get!

Mark discovered that helping them was the most profitable act. He hoped they sold on their own with his help more than listing with him.

When they sold on their own with his help he discovered they referred him on average 5-6 pieces of business in the following 12 months in return for his help

Are you thinking about this?

If they sell then they will more than likely buy. Will they buy from the agent who helped or the agent who hindered?

If they are unsuccessful and list, will they list with an agent who helped or an agent who told them they can’t and discouraged them from trying?

Which agent are you going to be?

Statistics show on average a FSBO will try to sell on their own for 10 weeks. This means your system must consist of a follow up time of at least 10 weeks.

We begin like any other important secret in real estate prospecting and that is “Show Up”.

We all would agree we are at our best face to face.

So get face to face and bring them a package with tips and information on selling their home themselves.

Go to the door and let them know you are in the business of helping people buy and sell homes and you would like to give them this valuable package to help them sell their own home.

At this point their defenses are probably lowered so you could ask them “if I bring a buyer for your home would you pay me a portion of my fee?”

If they agree (which they usually will) ask if they would mind giving you a quick tour of their home so you are prepared for potential buyers you may have.

While you are touring ask if they are ok with you taking notes, measurements and photos. Tell them this will allow you to keep record of what is on the market outside of the MLS system. Then mention you can return in a few days with some complimentary feature sheets of their home to use.

Ask them “How does this sound?”… how much negative feedback do you think you will get from this approach?

Keep in mind the initial visit is soft… helpful… low key and no pressure.

It is all about the strong consistent follow up with the FSBO.

Your follow up plan is simple. Plan to return every week.

I call them FSBO Fridays.

Each week you return bring them one item to help sell their home professionally.

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Feature sheets (no branding, just generic) professional like you were listing their home. Aim to impress them.
CD Rom with their feature sheet template to print their own, as well as the photos you took for them to use in other advertising sources.
Professional ads for different advertising sources. We spend so many hours writing ads, why not write some great ads for them. Remember to focus on the benefits vs. the features in your ads.
Create a single listing website for them. www.1234anystreet.com helps with their web exposure and their google rankings for online buyer.
Post online classified ads for them on sites like Craigslist, Kijiji, Castanet.net and more.
Complimentary sign. Have a professional sign made and installed for them on their front yard that sets the impression for the buyer vs. a small inexpensive cheap looking sign.
Guest Registry book. Buy an inexpensive book to assist in tracking their prospects viewing and enquiring on their home for follow up and security purposes.
Provide a blank contract of purchase and sale and along with the contract provide sample clauses to assist in providing them a bullet proof agreement on their home.
Set up some mobile technology for their home like texting and QR codes. Something not expensive like www.streettext.com Show them how to capture leads from mobile consumers.
Create a youtube compatible video of their home and post it on youtube for them. It is the worlds second largest search engine.

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You can choose so many different things for the seller when you follow up. Be sure to keep track of your homes and which items you bring each week so not to double up on items by mistake.

Keep in mind all this work and effort would only be going into a FSBO who gave you the right response to these very important initial meeting questions…

If you had a friend or family member buying or selling do you have an agent you would refer them too?
Are you committed to another agent?
If your home does not sell, what will you do?

Measure their commitment to another agent and measure their motivation. No Mo, No go!

Time to put this into action… go to the classifieds, online by owner sites and seek out your prospects. Lets get some listings and sales in the near future by helping vs. hindering!

Strength and Courage,

Wade

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