The biggest mistake you can make in real estate sales is overlooking more mature fruit.
Where is the most ripe fruit in real estate sales?
Here is the list of the easiest goals for your professional quality real estate brokerage services:
In order from COLD TO HOT leads:
9. People hiding under random targets (cold calls, knocking on the door)
8. People you know (your “sphere”) (just a little better than random)
7. People who have listed properties with a competing real estate broker
6. People who promise someone they will list their property
5. People who promise to list your property soon
4. People who have been listed and are currently dissatisfied with your broker.
3. People who, today, will put aside their current broker and could look for a new one.
2. People who promised to give you the token
And NUMBER ONE HOT PROSPECT is almost a customer:
1. People who signed a listing agreement with you with a date after the day your current listing agreement expires
I am sure this list could be reinforced in many ways. In some of my posts on my website, I inform you about a few more leads and how to get them. But for now I want to tell you a little-known secret.
This secret is information that most real estate sellers would pay a lot of money to get, and I’ll give it to you for free here.
The way to get this information is to log into the MLS system of your choice (Rappatoni, MLX, for example) and search the database for listings that expire in two weeks. IT WILL NOT EXPIRE TODAY. This is too late.
Then, contact those sellers with a very clear letter that says in BOLD CAPITALS: This is not a request to list your property during the present time, but in the future, when NO OTHER LISTING COULD EXIST on your property.
Include a statement of a listing agreement. Why? Because your sellers may still be interested in selling your property, if your current broker doesn’t hold up.
Make sure you POST DATE the quote agreement and place it in the envelope.
Well, the big question is …
… Is this ethical? Absolutely. Here’s why.
From the REALTOR® Code of Ethics
: Standard of Practice 16-4: REALTORS® will not request a listing that is currently listed exclusively with another broker. However, if the listing broker, when asked by the REALTOR®, refuses to disclose the expiration date and nature of the listing; i.e. an exclusive right of sale, an exclusive agency, open listing or other form of contractual agreement between the listing broker and the client,
the REALTOR® may contact the owner to secure such information and may discuss the terms under which the REALTOR® could take a future quote or, alternatively, may take a quote to become effective upon expiration of any existing exclusive quote … – Emphasis mine
This practice is known as the postdated listing. It is a real contract, but its effective date is after the expiration of the current exclusive listing.
Now there may be a problem with the exclusive listing broker in this case. The broker may say, “You found my listing through MLS and that’s unethical.” You say to that broker: “The unethical thing is that you accept an ad that is not selling. I am not exceeding your ad agreement. You can sign another post-dated ad or have the ad expanded. I am not prohibiting you from doing so. That. And if you’ve done a good job, your customer will sign again. But let the seller decide. “
Be professional, be courteous, be a business person. Aim to be competitive. Don’t just sit back and wait for the listing to expire, or you may find that one of your competitors had the same idea but took action, and that seller will place a new record the day after the active listing’s expiration date. … And you would be too late.
Enjoy this sales tactic and think about it. Also be careful that can make some enemies using this technique. But the only competitor that everyone likes is the one who lies on the ground and does nothing to challenge your business.