Question Details

The Rifkin T…, Real Estate Pro in Cherry Hill, NJ

What is the best way for a new agent to find clients? I know about expired listings, for sale by owner but what are other options that work well?

Asked by The Rifkin Team, Cherry Hill, NJ Fri Jan 18, 2013

Help the community by answering this question:

Answers

12
BEST ANSWER
Sam,
What works well depends completely on what you are willing to work.
There are very, very few options that can not produce results.
Even the 'No Brainer' opportunities can fail if the agent does not work the plan.
-
The nature of your question suggests you do not want to pursue expireds or FSBOs. For most agents there is a great big train load of IDWDT issues that stand between them and success.
-
Those agents who nurture those "I Don't Wanna Do That' handicaps must spend the time to resolve these issues. The sooner this is done the fewer laps around the mountain are needed before the great mountaintop experience.
-
As a new agent you need to make a decision early...do you want to compete or deferentiate? The right choice is differentiate. This is easier and creates to space to open dialog with citizens. How do you do this?
-
First get in front of citizens. The best resource is Open Houses. Your purpose for this activity is to complete a market survey of those attending. Position yourself to observe what they are doing as they park at the curb on in the driveway. Are they using mobile devices?
You want to ask:
1. How did you find out about this home/Open House?
2. What tools are your using for your home search?
3. Are you looking to buy a home for yourself or are you thinking of selling?
(This will prove to be a real eye opener. The revelation is NOT revealed in the question but in the citizens response. Try it and you will understand.)
4. Are you finding the information you are needing?
5. Are you currently working with a real estate professional?
6. Would you like another cookie?
-
From this information, folks with real estate on their mind are identifying for you where you need to position your messages and the subject or title that will get their attention. In addition you will know if Trulia or Zillow or Realtor.com or http://www.SamRifkin.com is the prominent real estate resource in your local. Don't think you can pay to have others tell you what is happening in your market. This is how you find out. Skip this direct research and you will do another lap.
-
Next, mail into a similar community. Don't mail into the Open House community if this is an area farmed by the listing agent. You may get the left foot of fellowship if you violate this tenant of respect.
-
What do you mail?
You have heard, at the Open House, what folks with real estate on their mind share with you is their experience and even the challenges they encounter. You observed and had them share the tools they use. You can even use the Yahoo peeper or Twitter to catch the key words that folks in your area are using to express their concerns. If their alignment, overlap, disconnect? Find ONE item and build your message around it. If the item is costs or uncertainty or risk aversion, or trust..whatever the issue....you differentiate yourself by clearly identifying yourself as the solution to that concern. Take great care. Your message must be restricted to a binary message. Two much data, too many choices result in NO ACTION! Resist the temptation to do a data dump.
-
Now that you have a message of differientation, you must apply the proper word smithing to make it suitable for print and electronic media including blogging, website and email.
-
Now, pick your mountain.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us

Of course there is always more. You really need to know your objective and business model BEFORE the phone starts to ring. In 20 seconds, without using one syllable of realesate-ese, explain to a non-real estate person the VALUE you bring that is worth a portion of the home owners equity. If you are not able to do that, you are NOT ready for prime time. When you can...then introduce yourself AGAIN to your friends, family, and neighbors.
2 votes Thank Flag Link Fri Jan 18, 2013
I think that a new agent going after expireds and FSBOs right off the bad is a very bad idea. I would talk to everybody you know in the area. Friends, family, etc. As them for help. Tell them you need their referrals. Start up with your social media and connect with people there as well. Good luck!
0 votes Thank Flag Link Sun Jan 20, 2013
Sam,
Thanks for the 'Best Answer' designation.
-
There is another element you can consider in regards to leveraging an Open House event.
Be aware, not all homes are open house candidates. Choose wisely. The right home needs to be no more than 2 turns from a major traffic way. Have good curb appeal. Be unique such as being the best home in the community, newest home, only home for sale. Another options is event collaboration. Artist show, adopt a pet, native plant exhibition are all good collaborative,,,,remember collaborative opportunities. EVERYONE has skin in the game. YOU WILL need an assistant at a successful Open House. A big burly mortgage broker has proven to be valuable.
-
Don't skimp on signage! Lots of signs. The top rider should say FREE. The sinker should say, 'COOKIES" or 'Pizza" or "Free Kitten to every unattended child." Folks like FREE almost as much as kittens.
-
As a new agent, one priority you have is to get into the money making mode as soon as possible. You need to get business. At you discretion, consider the following action FOLLOWING the last question in your market evaluation series..."Want another cookie?"
-
Have prepared a house evaluation from. The content is mostly boiler place exception of the last two questions.
1. Curb appeal
2. Front door
3. Condition of:
A. flooring
B. kitchen
C. Guest bath
D. Master bath
4. Back yard condition and size
5 Size of home
A too big
B too small
c Just right
6. WHAT WOULD YOU OFFER FOR THIS HOME?
7. WOULD YOU LIKE TO BE NOTIFIED IF THIS PRICE OR SITUATION OF THIS HOME CHANGES.
8. CONTACT DATA.
-
With this document available, start your conversation with, " I need your help, you opinion regarding this home. I'm not going to ask for you name or contact information. I simply want to get your opinion or evaluation on any issues you may see in this home. There is a few question that you can respond to as you walk through the house. Place your completed form in the box by the front door.
(NOTE: Make certain there is only ONE entrance and exit. Chain or lock the gates and garage exits) Believe it or not, some folks see open houses as 'Shopping' events. Big and burly tends to discourage pocket and purse stuffing.
-
Anybody that responds to #5 or #6 are ACTIVE buyers. Using similar self -selection techniques protects your resources by not consuming your time chasing vapors. Give some real thought regarding how you will follow up. YOU MUST BRING VALUE! Be aware, their is a real reason why these folks are not working with an agent. Be prepared to disarm them, assess and address their financing concerns, determine if this is the business you want to pursue. IS this the business you want is the most difficult for most new agents. Bad business is like quick sand and will bury you with more bad business.
-
A visitor has indicated they would offer $210,000 (listed at $325,000) for this home but it is too small and outdated.
This is your chance to consult with other experts regarding the proper followup to this hand waving in the crowd.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Sun Jan 20, 2013
ok, remembered their name now - Prospectsplus.com
Thank you for your responses
0 votes Thank Flag Link Sat Jan 19, 2013
Hi Sam

Hold Open Houses for other agents in the neighborhood you want to focus.

Do floor time and answer calls.

Go door knocking.

Send out 100 mailers a month to a specific farm.

Participate in school events, community events.

Consider teaming up with a senior agent to understand how to write contracts
and talk when buyers or sellers ask questions.

Educate yourself on the market, your neighborhood.

Advertise on the web, ask question, answer questions, like you are doing above.

Be positive.

Good luck.
Perry
0 votes Thank Flag Link Sat Jan 19, 2013
Hi, position yourself as an expert in an area or market, then start a blog. Blog about only topics of gat interest,, partly about real estate and the other part local info and events. Plan on long term as it may take awhile to start finding you online and trusting you as a resource for good information.

Chris
0 votes Thank Flag Link Sat Jan 19, 2013
Build your business from your sphere of influence. Call all relatives, neighbors, professional you know and let them fully understand you are there to help!
0 votes Thank Flag Link Sat Jan 19, 2013
Find the price range where there is the most sales activity then preview them all in a specific area. Once you have done that find an open house which is easily found, well priced, and in good condition. Start prospecting around that neighborhood and in communities you think would want to move up to the neighborhood where your open house is located.
0 votes Thank Flag Link Sat Jan 19, 2013
Hi Sam

Annette pretty much covered everything. I would suggest to talking to some of the top producing brokers and doing some open houses for them or see if they may have some leads for you.

Pick an area and farm it monthly with newsletter or sales reports

Good luck
0 votes Thank Flag Link Fri Jan 18, 2013
Be sure everyone in your circle of influence knows you are in business. FISBO’s are tough to get but statistics are 82% end up selling with a Realtor. Expireds are easier but you may find the reason the house didn’t sell is price. Put a great script together and visit (door knocking) both. Don’t get disappointed! Ask to join an experienced Realtor on a listing appointment or working with buyers to see how they do it. Do open houses just to gain confidence in front of home buyers. Be sure to contact them within 2 days of meeting them. Ask permission to advertise other agent’s listings. Tour homes on the market to learn price points. Connect to title companies, attorneys, home inspectors, insurance companies, lenders, etc and establish relationships. Get car signs. Wear your badge in public.

Get a Trulia pro account! Figure out how to set it up to get leads.
0 votes Thank Flag Link Fri Jan 18, 2013
Hi Sam

I agree with Laura. Open houses are wonderful opportunities to meet people, make contacts and advertise by having your signs out for the day. Other than refreshments, there is no cost to you.

Best of luck!

Barbara Grandolfo
0 votes Thank Flag Link Fri Jan 18, 2013
Hello Sam,
Ask to host a public open house for another agent in your office. This will put you face-to-face with buyers who are actively searching for a home to possibly convert them to be your clients.

Also, do contact everyone you know in the area to inform them that you are a real estate and that you appreciate them referring you to anyone they may know who is considering buying or selling.

Best wishes!

Laura Feghali
Prudential Connecticut Realty
0 votes Thank Flag Link Fri Jan 18, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer