In the current real estate climate, buyers are disappointed when they miss out on a multiple offer negotiation (and it happens all the time.) But how can you flip that script to grow your business and develop meaningful relationships instead? Tune into today’s episode of The Real Estate Sales Podcast to learn how.
Buyers need an advocate – someone to find new listings and opportunities.
- Say your buyer just missed an opportunity. What should you do? Use circle prospecting in the area around that missed opportunity.
- Play offense instead of defense to gain confidence with your buyers. Because of the current market volatility, realtors have the opportunity to develop relationships with clients that will pay dividends later down the line.
- Circle prospecting gives you a unique reason to call homeowners in a neighborhood – and helps people become more aware of their options if they’re looking to sell.
- When circle prospecting, get the contact information of the people in the neighborhood to have a database of potential sellers and neighborhood contacts.
Jimmy’s guide to the circle prospecting process:
- Use a platform like Truthfinder or forewarn to find the phone numbers for the people in the area.
- Give these new contacts a call and inform them of the recently sold home in the neighborhood. Say you still have interested buyers and ask if they know anyone in the community who might want to sell their house (potentially for a premium.)
- Alternatively, you can inform them that a house in their neighborhood recently sold and simply ask if they want to hear some of the sale information.
- Asking if they know anyone interested in selling is more efficient than asking them directly if they want to sell. If they’re interested, they’ll tell you.
What if they don’t know anyone looking to sell?
- This is the perfect time to ask if they’d be interested in keeping in contact so you can share changes in their local real estate market.
- If you’ve had a friendly conversation, chances are they’ll say yes. This is when you ask for their email address.
- The critical final line: Is there a price you might consider selling your house? Offer to contact them if the selling price runs up towards that range.
The main takeaway? Take advantage of missed opportunities to drive relationships with buyers and build relationships with potential sellers.
Connect with Jimmy Burgess on LinkedIn and Facebook, as well as his YouTube channel. If you like what you heard today, we’d love it if you’d share a rating or review and then subscribe to the podcast and tell others about it as well. You can find The Real Estate Sales Podcast on Apple Podcasts,Google Podcasts, Spotify, and Audible, and our website, The Real Estate Sales Podcast.