Our Real Estate Lead Generation team shares 5 tips for finding sellers during low inventory season.
The housing market has hit a rough patch. Real estate marketing analysts have been abuzz about the possibility of a real estate market slowdown since Spring, 2017. This trend is predicted to continue as we enter 2018.
Fewer houses are being sold this year than they were last year. But trying to find sellers during unpredictable times may not always lead to dead ends. With the help of the right tools and strategies, you can easily find interested sellers during low inventory season. Here’s how.
1. Working with a Data Provider
The first thing you should do is identify an area/community that has had high turnover rates among home owners in the past year or two. Once you narrow down the list of communities, you can request a list of property owners who are motivated to sell from Data Providers. This is a very targeted list focusing on only those that expressed interest. The data list can be retrieved from the local municipality or a market research company that has surveyed home owners in your focus areas.
2. Social Media Paid Ad Campaigns
It is very difficult to convert prospects into clients with direct mail ad campaigns. Direct Mail advertisements have low success rates as the flyers are typically buried between bills. A more effective way to get your name and picture in front of the large pile of mail is through social media paid real estate ad campaigns. They are not only affordable, but targeted to reach out to prospective sellers who are interested in your services.
The ad campaign should be a win/win for both parties.One way to catch the attention of prospective sellers is to offer them a free market analysis or a quote of how much their home can sell for. Once the prospect sees you as an authority figure that can represent their interests, they will sign on with you as their agent.
3. Participate in Real Estate Related Chats Online
It is also important to be part of discussion boards and forums that you know home owners are regularly attending. Top producers with an eye for real estate lead generation browse through forums, social media chats, discussion boards, and seek opportunities to offer their input. When done frequently, top producers are able to network with more and more people who can recommend them when the time is right.
Home buyers and sellers often turn to discussion boards and chats to discuss their frustrations and ask questions about the real estate market. Very often home sellers want to sell their homes, but are afraid to do so because of varying things they read and hear in the news. It will be up to you to convince them otherwise.
4. Contact Expired Listings
You should always be prospecting new, old, and really old listing in your focus areas! Give them a call them, sell them on your idea with an email blast, use social media channels for networking and lead generation etc. As well, add powerful call to actions, such as “I will sell your house in 3 months or less” and “I have experience selling homes over the asking price in your area. Call me to help make you my next success story”, to grab their attention. They are interested in selling their home, but are looking for the right REALTOR® to sell it at the right price.
5. Contact Unrepresented Home Sellers
Top producers also frequent “For Sale by the Owner” (FSBO) websites to find listings that are not found on MLS®. If you have interested buyers for them, they will want to hear from you! FSBOs are perhaps the easiest targets for finding houses as they literally have correct phone numbers listed on signs outside the front of their house.
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