I want you to think about how many homes you sold last year that were your listings. So let's assume you sold 10 listings or five listings. What if I told you that you could take that 10 in times by five and have 50 transactions as a result of those 10 listings? Or if you took five listings, you times out by five and you could have 25 transactions. Does it sound impossible? It's not impossible. It's totally doable. You just gotta rethink how you're approaching your listings.
What smart, wise, savvy agents do, superstars do is they say, "Hey, I've got one listing and I can turn this into five transactional sides. Now how can we do that?"
I'm gonna walk you through it right now.
What are the five transactional sides that we create?
Number one is obvious: Sell the listing that we take. But it's not a given like it might have been a year ago. About 50% listings to being taken today won't sell the first time out. So we need to make sure we get the listings really dialed in, get those prices right.
Number two is to obtain a triggered listing. What's a triggered listing? It's the hive mentality that occurs around any given listing in any given neighborhood. When a sign goes up, the rest of the neighborhood notices. And often it's not the same listing agent because they didn't use the trigger effect. So when you take a listing, what are you gonna do? You're gonna go talk to those neighbors. You can do it through a note if you're too scared to talk to people in person, but ideally you're gonna talk to them by knocking on their door or giving them a call. You also email them if you have their email address, you can give those from the REDX.
Number three is to convert a buyer who calls or attends an open house for the listing. This one's pretty obvious as well. But again, we need to make sure we're doing a good job of marketing and getting the word out there. So that's the third transactional side.
The fourth is to obtain a find sellers at your open house. 72% of the people that walk into an open house are actually sellers in disguise. They still have a home to sell. So when they walk in, I want you to rethink your open house. You're not there to convert buyers, you're there to convert sellers.
And by knowing that how you prepare differently, well one way you might prepare differently is by simply setting up your table of stuff. That's gonna have a listing presentation. Write a sample cma, a home book of the property. Look at it from this perspective, a beautiful flyer, maybe a video of the house rolling on your iPad. Have all the tools laid out there that you would use for any other seller. And always talk to everybody about their housing situation and what you can offer to them as a potential seller.
And then the fifth transactional side is to turn your seller into a buyer and sell them something else. When I'm taking the listing I've finished and the clients have signed ask them to talk about finding their dream home now because we're gonna sell this house. So you wanna start treating you as a buyer today, and you don't wanna wait until it's pending.
Your most motivated seller in the world is the one that knows where they're moving. The least motivated seller in the world is the person that doesn't have any idea where they're going.
This will unlock another transaction for you.
So those are the five transactional sides that you can create from one listing. And if you're really smart about it and you're really proactive, you can turn one listing into five transactions or even more. So it's not about being lazy and just waiting for the sign to sell itself. It's about being proactive, it's about being creative, and it's about leveraging every opportunity that comes your way.
So I hope that was helpful. I hope you can take some of these ideas and apply them to your business and your listings.
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