You just managed to get all your listings into escrow. Time to celebrate, right? Not so fast. It suddenly hits you that now you have no listings to show buyers, no more guaranteed commissions, and you basically have to start all over. Talk about a buzz kill.
That brings us to your next mission: to find more listings and reel in potential buyers who call about pending homes. Your secret weapon? The Buyer Hunt Program.
Keeping Buyers Interested
Let’s set the stage: You get a call from a buyer who is interested in one of your pending listings. You apologize and tell them you already have a buyer for that home – BUT, before they hang up, you invite them to meet with you using this script as bait:
“Thanks for calling about that home, but the seller has already accepted an offer. The good news is, I may have a similar listing hitting the market in the next few weeks. Would you be interested in looking at that home before I put it on the market?”
Any serious buyer will say “Yes!” and give you their contact info. Now comes the hunt for listings!
The Hunt Is On: Sharpening Your Spear
Start by calling your favorite title company and ask them to send you a list of all the people who own a home like the one the buyer called about. The title company will send you a list of names and addresses, but they probably won’t have the corresponding phone numbers. If not, simply go to www.peoplefinder.com and enter your list of names. This free search tool typically yields about 18-20 good phone numbers per 100 names. Now that you have a list of phone numbers, it’s time to start dialing for dollars.
Here’s what you say:
“Hi, my name is [John Smith] from [ABC Realty]. We have a client looking to purchase a home very similar to yours on [1234 Main St]. I was wondering if you have considered selling?”
If they say “no…”
“Ok. Well, our buyer missed out on that home on [1234 Main St.] since it’s already in escrow, and they really love your neighborhood. Do you know if any of your neighbors are thinking about selling?”
“Ok, thanks. Just in case, do you want me to sign you up for our free fraud and home value updates? You receive an email every time someone on your street goes into foreclosure or if someone puts a lien on your home. Plus, it will send you your home’s value every 30 days.”
If they agree…
“Great, I will send you an invitation email. When you get it, just log in and you can start to search for foreclosures in your area. Can I get your email address?”
You’ll probably want to confirm their first and last name and street address for accuracy. With their name, address and email you can easily get them set up on www.epropertywatch.com through your Agent portal. That’s all it takes!
Two Birds, One Spear
Let’s recap. Your targeted house hunt has just accomplished 2 important things:
• You’ve kept an interested buyer from walking away, and instead, have earned their business by initiating a custom home hunt that fits their needs.
• You’ve put more signs in yards by giving homeowners an urgency to sell their home — even if they weren’t planning on selling before. Although many homeowners might not be ready to sell, you’ve added a lot of future home sellers into your database by using the free epropertywatch.com program.
The Hunt 2.0
Can’t find the phone numbers you need? You still have plenty of ammunition with the names and addresses from the title company. Take this opportunity to start knocking on doors with the same script! In fact, a friendly visit from the neighborhood realtor often works even better. If your leads aren’t home, leave them this letter:
WE FOUND YOU A NEW NEIGHBOR
My name is [name] from [ABC REALTY]. I am your neighborhood realtor. I just helped (first name) and (first name) sell their home on (address)!
The good news is, you have a great new neighbor.
The bad news (for us!) is, we have other buyers who wanted the home but lost out.
This could be good news for you if you’ve ever considered selling your home. Our buyers are still very interested in the area, and your home could work well for them.
If you’re interested in selling your home, I can help. If not, do you know anyone on your street who might want to sell their home? You’d be doing a great service by handing them my card or letting me know.
By the way, if you are interested in finding out how much your home is worth, send me your email address and I will send you the current market value!
Be sure to include your full contact information and a business card.
Reaching out to other homeowners in neighborhoods where you recently sold a home is never a bad idea. See our recent article on “The Listing Compound Method” for more ideas on how to get the lion’s share of neighborhood listings fast!
Realtors understand that the key to a successful business is consistent cash flow. If you’re waiting on a commission but need a cash infusion to keep business running optimally, it might make sense to access your commission early through a commission advance. Depending on the circumstances of the sale, we can usually get you up to $25,000 of your commission in as little as 12 hours. Our fee structure is probably more cost-effective than you think, and it can be a quick, easy way to infuse your business with just enough early-access revenue to iron out the bumps. Click here to find out more.