If you’re like most agents, you generate most of your listing volume from referrals. Nothing is better than a solid referral, but if you want to build a powerful listing pipeline you must move beyond just referrals to generate listing leads. It’s important to determine whether the seller is motivated to sell and in what time frame.
WHAT MAKES A SELLER MOTIVATED?
There are a few different characteristics that determine whether a seller is motivated. One common misconception about motivated sellers is that they are desperate to sell their home today. But this isn’t always true! Some homeowners need to sell as soon as possible, while others are just getting started in the process and for now are just gathering information to be prepared for when they are ready to list at some point in the future.
Here are some signs to tell if a seller is motivated:
- They have already purchased a new home and need to sell theirs.
- They tried FSBO but failed to sell their home.
- They are willing to sell their home with favorable terms.
- They already listed with another agent, but their home didn’t sell.
- They are open to learning what is needed to prepare their home for sale
These are just a few of the most common signs of a motivator seller but there are others. The key is to develop a complete profile of a homeowner who is likely to sell now or sometime soon. This will ensure you are not throwing away valuable leads that could build your listing pipeline over time.
HOW TO FIND MORE MOTIVATED HOME SELLER LEADS
A few powerful opportunities to uncover motivated seller leads is to look seriously at FSBO and expired listings and consistently cultivate your “have met” lead database.
For-Sale-By-Owner listings have likely been on the market for a while with no luck! And it’s not because the home has problems, and no one wants to buy it. It’s typically because a professional agent knows a lot more about market, has access to more resources to promote the listings properly and understands how to properly prepare and stage the home to appeal to buyers. It’s no surprise then, 90% of FSBO listings will end up listing their home with a real estate agent at some point, even those FSBOs who strongly resisted using an agent previously.
Including FSBOs in your lead generation strategy is a no brainer.
Expired listings can be a challenge, but they are nevertheless a treasure trove of listing opportunities for an agent who’s prepared with the right mindset and strategies. The key to success with this lead type is doing your homework so you know what works and being committed to having them as part of your lead generation strategy.
Of course, both FSBO and Expired’s will likely be pessimistic and jaded because of their lack of success in the past. At that point the agent’s job is to communicate that you understand why their home didn’t sell and how you are the right solution to help sell their home for the right price and in the right time frame.
For more information on how to generate more motivated home seller leads or help managing your lead generation system, contact our team today!