Listings are a rare commodity these days. With fewer properties hitting the market, real estate agents face the challenge of finding clients in a complex market. The tactics and strategies that worked a couple of years ago no longer produce desired results—leading more and more agents to return to old school strategies.
As Lisa Chinatti emphasized last week on the Knowledge Brokers Podcast, it’s not about doing one thing differently, it’s about doing everything you can to expand your database.
The critical thing is the same thing we’ve been talking about for the past year. It’s doing all of the things. And understanding that this kind of market and this kind of economy requires hard work. It requires doing the things that are uncomfortable. It requires doing more than we did in 2021 and the first half of 2022. And it’s going to require creativity.
By acknowledging the need to push beyond their comfort zones, agents can adapt old school strategies to meet the demands of today’s real estate market. Let’s explore how these strategies are being revitalized and implemented to connect with potential clients in meaningful ways.
6 Old School Strategies to Use this Year
When Byron Lazine asked real estate agents what strategies they were using on Threads, one common theme emerged: the importance of having as many conversations as possible.
Regardless of the specific strategies agents are implementing, the consensus is clear: having a high volume of conversations is the game right now.
With that in mind, here are six ways real estate agents are connecting with more people and expanding their database to thrive in today’s market.
1. Maximize Marketing for Your Listings
Yes, listings are limited. And yes, that means when you have a listing, it will probably sell within a matter of days. Over the past couple of years, many agents have gotten into the habit of cutting back on marketing for their listings, knowing that homes are selling fast. But doing so could end up costing you.
Remember, everything you do to market a listing opens up more conversations for you. The more conversations you have, the greater the chance of attracting more listings. Instead of shrinking away from marketing, double down on it. You’ll not only increase exposure for that specific property but also demonstrate your skills and expertise to potential clients.
Don’t go autopilot, saying, ‘I know the house is going to sell in 72 hours.’ When you go autopilot and collect one check, you’re going to miss out on maybe 2-4 other potential listings or buyer checks you could have had. You can generate 100 conversations off of one listing. You can do it.
2. Get Creative on Social Media
When it comes to maximizing your marketing efforts, one common concern is having a limited budget.
Obviously, marketing on social media is not new. But over the past couple of years, many agents have used their platforms to connect with other agents. Now, it’s time to return to some old school strategies to engage with consumers.
Challenge yourself to tell at least 10 stories on social media for each listing. With each story you tell, the key is to create intrigue and encourage consumers to connect with you to learn more about the property. These can include:
- Behind-the-scenes photos and videos while listing photos are being taken
- Sneak peeks of the upcoming property
- Enticing photos of the best feature(s)
- A virtual tour video or listing video
- Leaked floor plans a few days before the official release
- A tour of the neighborhood
- Showcase local amenities that are in close proximity to the property
- Promotion of open houses
- Behind-the-scenes set-up for the open house
- Go live for 5 minutes right before the open house begins
- Update followers right after the open house ends
- Just Closed videos or posts that highlight everything you did to make the sale happen
Then, when someone asks about the location or the property, take the opportunity to engage in conversation. Ask them about the towns or home features they are interested in. This keeps the conversation going and helps you gather valuable information about their preferences.
By getting creative and telling compelling stories, you can generate excitement, capture attention, and ultimately attract more buyers to your properties. And that, in turn, will also catch the attention of potential sellers.
3. Make Your Calls
Of course, picking up the phone isn’t limited to dialing up strangers. It all goes back to having more conversations. Consider making calls to a variety of people every week. By doing so, you can:
- Reconnect with clients you worked with in the past
- Touch base with your sphere of influence (SOI)
- Call expired listings
- Reach out to for-sale-by-owners
- Circle prospect to individuals in the vicinity of a recently sold property, a new listing, or an open house
By picking up the phone, you can proactively reach out to potential clients, let them know you’re available to answer any questions, and establish yourself as a resource in the industry.
4. Door knocking
Door knocking also remains a tried and true strategy in the real estate industry. By setting goals, and holding yourself accountable, you can actively engage with potential clients in person. This face-to-face interaction allows you to establish trust, answer questions, and build relationships.
And just like circle prospecting with calls, you can knock in a neighborhood where you have a new listing, just sold a home, or are hosting an open house.
5. Direct mail
Direct mail can also be effective for real estate agents growing their business—but know that it takes time to start gaining leads from mailers.
Tom Story recently shared a direct mail strategy that works for his team. When done consistently, this geo-farming technique can be a great way to stay top of mind with a high number of prospects in a desired area.
Another mailer strategy is to send personalized letters to homeowners who reach your buyers’ criteria. In doing so, you can capture their attention and potentially spark their interest in selling their property—whether now or in the future. This targeted approach demonstrates your proactive approach to finding the right properties for your clients and can lead to valuable leads and connections.
6. Grow your SOI
As a real estate professional, having a large sphere of influence can lead to connections and conversations you never would have imagined. Spending time to grow your SOI now can benefit your business for years to come.
Consider joining new clubs or attending events in your community to connect with like-minded people in a relaxed and social setting. Going to new places allows you to meet individuals with diverse backgrounds and interests, broadening your network and creating opportunities for business growth.
This could also be as simple as strategizing where you complete your computer work. Rather than confining yourself to your home office or a brokerage cubicle, consider working from the same coffee shop or lunch spot every day. By becoming familiar with employees and frequent customers, you may capture the attention of those who might be interested in real estate. This strategy allows you to tap into unexpected opportunities and connect with potential clients in unique and engaging ways.
In today’s challenging real estate market, agents need to focus their attention on having more conversations. By adopting these tried-and-true tactics, agents can effectively connect with potential clients and expand their business.
