5 for July: Getting Seller Leads in a Hot Market in Kansas City

Getting Seller Listing Leads in a Hot Market Can Be As Easy As 1-5!

For July, while we are hanging on to this seller’s market here in Kansas City I wanted to share some effective strategies to increase your listing inventory. So this whole month I will be posting 5 strategies for picking up new listings in Kansas City or any market for that matter. These listing strategies are simple, easy and effective. If you are not implementing lead generation activities for picking up listings then you are really missing out in this real estate market shift.

5 in July Listing Strategies

  1. Getting Listings from Your Database or Sphere of Influence

  2. Getting Listings from Open Houses

  3. Getting New Listings From your Geographical Farm

  4. Getting For Sale By Owner Listings or FSBO Listings

  5. Getting Expired Listings

 

Why work three times harder?

Why do we focus on getting listings leads for our business? One word – LEVERAGE. If we have listings we have an opportunity for three transactions, let me explain. First, you sell the listing. Second, that seller also needs to buy a new home. Third, you will get sign calls that can be converted to buyers, and who knows they may also have a house to sell. There is also a bonus, if the caller is unrepresented and wants to stay that way then you can double side the transaction.

So listings equal leverage. You don’t have to be there to show them and they have the opportunity to turn into multiple transactions. When you have a steady listing inventory you don’t have to focus on getting buyer leads, they will be coming to you. Not enough buyers? Simple, get more listings! So stay tuned for the next post, where we dive into your Database and the Acres of Diamonds there.

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Setting Buyer Expectations in a Seller’s Market in Kansas City

Setting buyer expectations in a seller’s market in Kansas City can save you time, money and frustrations!

Seemingly overnight we have transitioned from a buyer’s market (more than six months of inventory) to a seller’s market (less than 6 months inventory) in Kansas City. Naturally there is some lag between when the news passes this info along. So right now, we have real live buyers in the field, still looking to get that deal of a lifetime, and they are coming up on homes that are going under contract in less than a week, multiple offers and oftentimes now going under contract for more than list price. If you are not ahead of this shift, and setting your buyer’s expectations about the market ahead of time, you could be setting yourself up for frustration and disappointment.

So how do you set buyer expectations in a seller’s market?

In short, data. You should have the ability to pull up market statistics in your local MLS that can show you average list to sales price ratios over a period of time. In the Heartland MLS that report is called the “Market Conditions Addendum” and does a nice job of compiling the data in a very easy format. Let’s be real, all the data in the world doesn’t mean diddly if you can’t interpret it and relay the info to your buyers in a way that they will understand.

So what if your buyers still think that they can go out and steal a property?

So if you have tried to set your buyers expectations by showing them the data that shows them that we are in a seller’s market here in Kansas City or wherever you are, then sometimes losing out on a property is the only remedy. We are the agent of our client. We can provide advice and consult to the best of our knowledge, if your client still wants to lob in an offer then as a fiduciary you have to do it. Just make sure to let them know that they could be losing out on their perfect home, while someone else comes in on top of this offer and takes it.

Ok, great Mat, we hear you, but how can I set my buyer’s expectations in this Seller’s Market?

Simple. Scripts.

List Price to Sales Price
The average list price in (____________) is (__________) but the average sales price is
(__________). That means that sellers are coming down approximately (__________
dollars). The reason I share this information is that I would prefer to turn you down now,
rather than disappoint you later, if you think you could offer $25,000 less than the list price
and actually expect to get it.
So let me ask you a very direct question. If we found you the perfect home and the seller
is only willing to come down about (_________ dollars) how would you feel about that?

If you want even more killer tips on taking advantage of this monstrous shift in the market, reach out to me here!

Getting Seller Leads and Listing Leads in Kansas City

Are you having trouble finding and getting seller and listing leads in Kansas City?

Well you are not alone!

Seemingly overnight, our market has transitioned from a neutral market, 6 months of inventory, to a sellers market where we are seeing 4 months of inventory or less. Buyers are getting frustrated that the Buyer’s Market that they were hoping for is now all but gone. Homes are going under contract in the first week and are getting multiple offers, driving the final sales price over list price in many instances. While this is a good indicator that our market is strengthening, and buyer confidence is up, it poses a problem for the average agent  – your listing inventory is now low to gone.

So why is getting seller leads and listing leads important in Kansas City, or any city for that matter? Because Listings = Leverage! At Keller Williams Diamond Partners we follow the 3L’s model Leads-Listings-Leverage. Listing show themselves, buyers call off the sign and sellers need to buy as well. One listing could be three transactions or more, especially if the buyer for the listing also has a home to sell.

So how do we get listings leads and seller leads in Kansas City?

There are 6 main seller lead sources, but I will talk about one in particular. (obviously there are more than 6 but lets focus on the big ones)

  1. Your Database
  2. Business to Business / Vendors
  3. Open Houses <—I’m going to go into detail here
  4. Geographical Farm
  5. For Sale by Owners (FSBOs – Pronounced Fizz-Bows)
  6. Expired Listings/Cancelled Listings

Getting seller leads and listing leads from Open Houses

Open Houses? You can get listing leads and seller leads from open houses? YES!!! You just need the right scripts and checklists!

The main reason that I wanted to go over getting listings from open houses is that they are one of the best ways to get new business FAST. At Keller Williams Diamond Partners we take open houses beyond the basics and go for open house domination!

Successful open houses are about planning!

Successful open houses are about planning!

Top 2 ways to get seller leads from Open houses:

1: The people that walk into an open house are one of the next three:

  • Buyers
  • Buyer who has a house to sell
  • Neighbor (who may also have a house to sell)

The secret to converting these walk throughs to business is engagement and questions which = scripts! The good news is that I have those for you, and you can get your scripts to get seller leads and listings from open houses right here!

2: Door-knocking the neighborhood and inviting the neighbors to come to the open house.

People that door knock, and do it consistently want you to believe that it doesn’t work 🙂 In fact, door knocking is one of the best and fastest ways to build your pipeline and get your database full of quality leads. Door knocking when done well is amazing – and you can get your free door knocking scripts to get listings and seller leads right here!

So are you ready to take your unfair share of seller leads and listings in Kansas City this season?

To set up a private and confidential one-on-one to explore the other 5 leads sources for listings contact me today! There is no reason that you should not have a listing inventory as big as you want – go get it!