Let’s say you’re new to the real estate game. You know how to list properties. You know how to present them for prospective buyers. You know how to sell. You’re good at building trustful, lasting relationships with the clients you have because you’re one hundred and ten percent committed to getting them the best deal you can.
People will tell you these are the qualities you need to be a real estate ace and they’re right – you do. So why is your business struggling? What are you missing?
The truth is that all these things are not all you need. Many successful real estate businesses are founded on long-standing relationships between agents and clients who know and trust them. When they want to sell a property, there’s only one person they call. But these relationships have to begin somewhere. You probably have a couple of friends and family members who will happily list with you. That’s fantastic, but you need to be aware that you’re unlikely to make enough sales from them to keep yourself in business. Sitting around and waiting for the phone to ring is simply poor practice. If you want more listings, you need to go out and find them.
The unfortunate reality of the market is that not all properties sell on their first listing. There could be a myriad of reasons why this happened: overpriced listing, unrealistic expectations, unwillingness for correct marketing of the home to its best advantage, to just plain old rotten luck. The key to growing your business is to realize that every failure is only an opportunity for success in disguise.
What Should I Do?
Start contacting homeowners who have previously listed with other agents. If you can sell their property when someone else couldn’t, who do you think they will contact next time they want to buy or sell? Expired listings are a great way of finding ready and willing clients who you can turn into repeat business.
REDX can provide you with the highest quality homeowner data and seller leads that will allow you to find more listings right away. Call us for more information about our services, or sign up today.