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“What are the best sources of seller leads in today’s market?” I’ve been asked this question a lot recently, and I understand why. The current market has fewer transactions than it previously did, so you might need to put in a little more effort to maintain your level of business. At the same time, many agents who used to work primarily with buyers are looking to expand into seller leads in the wake of the NAR lawsuit. Whatever your situation is, don’t worry. There are still plenty of seller leads in this market; you just need to know where to find them. Here are my three favorite ways to find seller leads in this market without breaking the bank:
1. Old buyer leads. As a real estate agent, your most powerful tool is your database. If you aren’t leveraging people you’ve already met, you probably aren’t maximizing your business potential. That’s why I recommend looking into an app or marketing service that pulls leads from people you’ve already met. There are plenty of options that fit every budget, but I don’t recommend trying to market to your database by yourself. It can be time-consuming, and your hours are probably better spent actually following up with leads and managing transactions. If you have questions about which service might be best for you, just reach out to discuss it further.
2. Seller seminars. I love seller seminars because they have minimal costs and bring in high-quality leads. Here’s how they work: Invite people from your database and farm to attend a free seminar all about selling their homes. If you don’t have time to set a seminar up in person, you can even do this over Zoom or a similar service. You instantly build trust with the attendees by giving away all this valuable information for free. In other words, you position yourself as a reliable expert who knows what they’re doing. Some of the attendees might just go ahead and sell their homes themselves, but most will see how knowledgeable you are and decide it’s just simpler to work with you. These are some of the most reliable leads you can get, so leverage this strategy if you aren’t already.
3. Underserved markets. Everyone wants to be a luxury agent thanks to popular TV shows like Netflix’s “Selling” series, where they follow a high-end luxury agent in a well-known and expensive area. However, the luxury market is extremely crowded; you could be the best agent in the world and still struggle to get leads in that niche. Instead, look for underserved markets in your area. For example, older homeowners looking to downsize or move into assisted living facilities are chronically underserved in most areas. That being said, no two markets are the same - what’s rare in your area could be a booming demographic in another. Do a little research and see which area seems ripe for you to break into.
As a final word of advice, you need to focus on quality, not quantity in this market. There just aren’t as many leads to go around, so the best way to increase your income is to make sure more deals actually reach closing. If you need any advice on how my team does just that, please call or email us. We’d love to hear from you!
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