Every speaking engagement…
Every “Ask Me Anything”…
Every coaching session I conduct…
Every article, every discussion…
…I’m hearing the same thing: “How and where can I get listings today?”
It’s a real dilemma.
U.S. inventory is down 42% since this time one year ago.
If you’re wondering how to get more listings, you’re in the right place. In today’s market, the low inventory and rising home prices are making homeowners hold onto their homes in hopes they’ll receive top dollar. However, homeowners don’t have all the tools to help them analyze when prices are plateauing or dropping until it’s too late. As a realtor, you have the tools and expertise to get homeowners the most value out of their homes. But in a market this competitive, you need to know how to get more listing appointments.
So today, I have three strategies for you to implement. With these ways to get listings in real estate, you’ll be able to overcome the frustrations that come with being a realtor and grow your business.
And there’s more where that came from. I’m excited to share a brand new bundle we created that’s now available: Download Low Inventory Success Strategies for free today!
Listing Strategy No. 1: Time to Revisit the ‘Yikes’ Letter
If you’ve followed me for a while, you may have heard this one before, and now is the perfect time to utilize the “Yikes!” letter.
What’s that, you say?
It’s a letter you send to homeowners on behalf of a buyer who just can’t seem to find the right house to buy (or keeps getting beat out in bidding wars).
The idea is to use their story as an excuse to alert homeowners that you have a potential qualified buyer ready, willing, and able to buy their house – should they choose to put it up for sale. Targeting homes that aren’t for sale is an excellent way to generate listings. While this strategy may seem daunting at first, you’d be surprised at the number of homeowners who may take you up on the offer. However, it’s important to give them time to consider their decision. This means giving them your contact information to reach back to you with their answer.
The name “Yikes letter” comes from the headline many agents have successfully used with this approach, “Yikes, there are no homes on the market!”
The best versions of the Yikes letter go into great detail to inject emotion into the process and target homes that meet highly specific criteria. (Which, of course, you can tailor to the neighborhoods you target with your Yikes.)
Here’s an example:
“Dear Mr. & Mrs. Homeowner. I’m currently representing a wonderful family (describe them in detail) who desperately want to raise their kids in (specific community or type of property), and as you might know, there are none available. I’m writing because I’m just wondering… Have you had any thoughts of selling?”
To give your letter the best chance of being read and ultimately, achieving your desired result, mail it in a hand-addressed envelope with no logos on the envelope. (Or maybe you send it as a postcard to it can’t “not” be seen.) The more personable your “yikes” letter is, the higher the chance the homeowner may be willing to sell their home to your client.
However, if this way to get listings as a real estate agent doesn’t work, it’s a great way to boost your brand recognition and get your name known. Then, if that homeowner decides to sell their home in the future, they may turn to you to help them list.