‘A Listing Is An Asset’: Here’s How To Make The Most Of Your Next One
As the real estate market continues to move in the direction of normalcy, the ability to effectively market a listing becomes much more important. This skill not only helps the listing agent sell the property, it also provides additional opportunities for the agent to grow his or her business.
Jimmy Mackin, CEO and co-founder of Curaytor says, “Really smart listing agents recognize one fundamental truth: A buyer is a paycheck, and a listing is an asset. If a marketing plan is executed properly, one listing can be turned into more opportunities on the buy side and, even more importantly, on the listing side.”
In this article, Mackin provides the blueprint for marketing a listing in a way that creates a compounding effect on your business.
1. Start promotion before the listing appointment
Mackin stated most agents don’t realize the opportunity for promotion prior to the listing appointment. He suggests sending an email to your database along the lines of the following:
Dear [Database Name],
I hope you are doing well. I am meeting a potential seller tomorrow morning. Based on the MLS guidelines, I can’t share many details about the property due to the homeowner still being in the process of deciding whether they will be selling or not. But what I can say is that homes like this one, in this neighborhood, typically sell quickly. If you’d like to receive the details about this home when I’m able to share them, please reply to this email.
From a marketing perspective, these emails will generate replies from your database with people letting you know they are ready to buy if they find the right place. Printing the email replies and taking them with you on the listing appointment is a great way to enhance your listing presentation as well.
Starting the process of promotion for a potential listing leads to more buyer opportunities.
2. Utilize the 1 day you have for Coming Soon
Understanding that most Coming Soon promotions can only be for 24 hours, Mackin suggests this short amount of time offers a unique marketing opportunity. He suggests instead of utilizing the normal “Coming Soon” language, to reframe the information about the timing as “Exclusivity ends in 24 hours.”
Here is an example of the language he suggests for an email that would accompany the headline of “Exclusivity Ends in 24 hours!”:
I only have 24 hours to share the details of the home located at [Address] with you before everyone else can access the details on all the public real estate websites. For location, price and details email me.
An example of language for an Instagram reel or story along the same lines would be:
Exclusivity ends in 24 hours! I’ve got this fantastic home in a great neighborhood that is going to hit the market, and I anticipate it will sell quickly. If you want more information on this home before everyone else has access in 24 hours, send me a DM right now.
Using a Coming Soon promotion with the “exclusivity ends” hook is a great way to generate more conversations and more opportunities for additional business.
3. Spend $1,000 for Facebook ads promoting a listing
“Most agents think about a listing as a paycheck, instead of an asset. You don’t invest in a paycheck. You invest in an asset,” Mackin stated. This means most agents miss all the opportunity running ads on the listing provides for agents to expand their businesses. The agents who do are rewarded.
He gave the example of Joe Herrera and Taylor Prince with the Joe Taylor Group in Las Vegas. They invest up to $1,000 in Facebook ads promoting their listings. The ads not only promote the listing, but they also promote their business and generate high-quality leads.
They promote a Facebook post where they don’t give away the price and they don’t give away the location. Instead, they include a gallery of photos with a description that says, “New Listing! Text, direct message or call us for more details.”
Mackin said these ads are generating 200 to 300 comments on the post, 50 to 100 direct messages and text messages. Not only does this help sell the home faster and for the highest price possible, but it also helps them grow their audience and their business.
4. Call your SOI with info on the new listing
He also suggests leveraging the new listing as a reason to reach out to your sphere of influence. He suggests calling the people in your sphere with a script similar to this:
I just took this great new listing. I know you’re probably not in the market right now, but who do you know that might be thinking about making a move?
This is a unique way to reach out to your sphere and to utilize the new listing as a way to generate referrals.
5. Write a blog post to tell the story of the sale
The thing Mackin loves about a Just Sold campaign is the ability to market in a unique way instead of the normal “look at me” marketing most agents use. He suggests providing more of a storytelling approach. A few examples he gave for a video, blog post or email to your database include:
- Why did 123 Main Street Sell So Fast?
- The Real Story Behind How We Sold 123 Main Street
- 123 Main Street Just Sold: Here Are Three Reasons You Should Care
Instead of trying to make yourself look good, why not give the reader, and potential future client, a behind-the-scenes look at the process you went through to make the sale happen? By providing the story of how you overcame obstacles, your perceived value is increased.
6. Reinvest a portion of the commission from the sale to compound your growth
The best way to compound the commission you just received is to invest some of the money back into your business. Digital marketing is great, but traditional direct mail marketing still has merit. Standard Just Sold postcards work, but the effectiveness is greatly increased when you apply an out-of-the-box mail strategy. Mackin referenced the company Yellow Letters Complete as a way to have your mailer really stand out.
“The Yellow Letter comes in what feels like a wedding invitation. When you open it up, it is a handwritten letter, but it also includes a sticky note with a handwritten call to action attached to the letter. This is a great way to stand out from any typical direct mail pieces other agents may be sending,” Mackin said.
Leveraging the sale via unique Just Sold campaigns will lead to more listing opportunities. Make sure you don’t let this opportunity fall through the cracks.
7. Marry the direct mail campaign with circle prospecting
Mackin concluded by saying the way to add gas to the fire is to marry your Just Sold direct mail with circle prospecting calls to the homeowners. He referenced the following Tom Ferry script that he suggests for modeling your calls:
Hey [Mr. or Mrs. Homeowner] this is [Your Name] with (Your Company]. I’m not sure if you know, but 123 Main Street just sold. The reason I’m calling is that anytime a home in your neighborhood sells, two or three people think about selling. Who do you know who might be thinking about selling?
The phone calls are where the rubber meets the road. Make sure you take advantage of the value meaningful conversations with homeowners can bring. By doing so, the number of listing appointment opportunities you have will dramatically increase.
Assets are greater than paychecks. Take advantage of the opportunity your listings provide. By following these processes your business will consistently grow.
Jimmy Mackin can be found on Instagram.