TOP 10 TIPS TO BECOME A LISTING AGENT
- PROPERTIES SOLD: Find an area where at least 80-90 properties sold in the last 12 months. (If your area has fewer than 80 properties sold in the last 12 months it means your area is not active enough and it doesn’t matter how good your marketing is – chances are you won’t get enough sales.) But don’t worry – If there are not more than 80-90 properties sold within the last 12 months simply expand your radius until you reach that goal. It is that simple.
- LOCATION: Your ideal area/location for prospects should be in a radius of no more than five miles away from your home. Why you might ask. Simple, it is the area you are close to, know the best, and visit the most. Many agents don’t like to work in their area because they are looking for a higher price point location, but it is important to understand while it might be possible to succeed in a different area, chances are it will be more difficult to understand and compete in an area you are not part of or don’t frequent enough. So, begin with the location in which you live and once you dominate it you can venture into a different location. Make it easy for yourself!
- COMPETITION: Don’t worry about the competition; only worry if there is no competition which most likely means the area is not good or active enough. Of course, there will be top agents in your area, and in the next area, there will be good ones too but remember you don’t need to close as many transactions at the beginning to consider yourself successful. And, keep in mind, there were other top agents in the area before the current top agent got started.
- KNOW YOUR COMMUNITY STATS: Learn the top six numbers to know about your community:
- Number of properties for sale
- Average price
- Average price per sqft
- Highest for sales
- Lowest for sale
- DOM (Days on Market)
5. Get the same information for the properties sold in the last six months. This information will help clients see you as an expert, help you make a much better listing presentation, and price your listings correctly. PRACTICE THE EIGHT OBJECTIONS If you don’t know them to get them here.
6. IMPLEMENT THE FOUR QUADRANTS OF MARKETING:
- Social Media
(See “THE FOUR QUADRANTS OF MARKETING” post here.)
- KNOW YOUR NUMBERS: Have at least five sales conversations daily. This is the key to increasing your income 50k-75k in less than a year. Watch How to become a Top Real Estate Agent interview with Orlando Montiel (See the full post here.)
- HAVE A SYSTEM: You must have a system of these items: Relevant content, Website, and Email Marketing Automation. This is the system which allows you to be in front of your clients with enough frequency and consistency to position yourself as the expert of choice. Don’t have the system? Get it here
- EMAIL YOUR DATABASE: Be consistent and email your database a minimum of twice a week. Don’t be afraid. The key to marketing is frequency and consistency as mentioned in the previous point. You will lose more clients because you did not email them enough than because you emailed them too much. Don’t have the content, tools and automation? This tool will do it for you.
- DON’T WORRY ABOUT YOUR COMMISSION: What did I just say? For now, all you have to know is… If you want to increase your presence in an area and your listing business – the fastest way to do so is by being more competitive with your commission. Market domination starts with exposure, then break-even and finally profit. Don’t believe me? Read this post here.
- BONUS TIP: BE PATIENT. Can you become a great listing agent in a month? Probably not. Can you build a listing business in six months to a year? DEFINITELY. How much better and more secure would you feel if you had 12-15-20 listings?
Related articles and resources
Watch the webinar How to Increase Your Income 50k-75k in 12 Months or Less
Score yourself, find out your strengths and weaknesses as a real estate agent by doing the RealEstateAgentScoreCard.