How To Do It: Step 1 – Listing Market Share

(This is an elaboration of here ‘)

You’re starting out from scratch (or starting over from scratch . . . or barely scratching by and wanting to start over) and you want to take that first step:  build listing market share.  What do you do?  You don’t have much money and you may not see much on the horizon among your slim and tenuous pendings. Here’s the formula:

Learning:  The Elevator Speech and the Listing Consultation.  In today’s market you also want to check your knowledge of how to help a homeowner who is upside down or in distress.  Don’t worry about fancy schmancy objections and all the shiny things you can hang on these basic bits of information right now. There will time for that later.  You want to work the Elevator Speech until it flows off your tongue without any hesitation whenever anybody asks ‘What do you do?’  There are thoughts here and Step 2!as well as in the Operations Manual, posted in the Download Library.  You’ll also find the Listing Consultation in the DL Library along with video of John Powell working with a seller.  The whole consultation is important BUT there are two key pieces on which to focus:  The Service Comparison Chart and the Seller Savings Comparison.  They are the heart of the whole conversation.

Prospecting:  Start with people who are begging for your help:  FSBOs and Expireds.  Become obsessed with them and obsessive about contacting and maintaining contact with them.  Select powerful handouts to leave with them that differentiate you from the pack.  The old Help-U-Sell DVD, though a little dated, still works very well and, last time I checked was a bargain at about 40 cents apiece via NBS Printing, but a simple flyer that says who you are, and how you’re different is fine, too.

At the same time, mix in the folks who already know who you are and appreciate what you do:  past customers and clients.  Every day, call a few.  You’re catching up, giving them some market information (an item of value) and keeping your business in the top of their minds.

Marketing:  Choose your handouts for use with FSBOs, Expireds and anyone else you’ll be contacting.  You should have several so that you can go back to people with something new.  Also, doorhangers are important at this stage:  since you’re economizing you’ll want things you can leave on a door knob rather than mailing.  Doorhangers can be good for arounds and have the added benefit of giving you an opportunity to actually meet a neighbor face-to-face (if you deliver them yourself).  Speaking of arounds and brags — this is where to spend your marketing dollars in this first phase.  Your efforts are all about getting listings, so when you get one, pull out all the stops in exploiting the opportunities to market around it.

If you’re starting from scratch (or starting over from scratch), becoming visible is very important.  Make sure you present the benefits of seller involvement in the Listing Consultation.  Seller involvement frees you to do more high payoff activities and, if coached properly, means more directional and open house signs in the neighborhood that you don’t have to manage.  Supplement this growing number of signs with inexpensive Blitz Signs.  Even if you have to put them out on Friday and Pick them up Sunday evening, these little gems instantly make the statement that you are here and can save sellers thousands.  Consider investing in a car wrap.  You’ll spend $1,200 – $2,000 (I’m sure you could spend more) but you’ll have a mobile billboard you can park anywhere you want to make a statement.  If your budget is too tight at the moment, opt for magnetic car signs with the Help-U-Sell logo and use them! (drive nice).

Staffing:  If you’re starting from scratch you probably can’t afford help yet.  However, if you have the ability (rather, when you have the ability, which should be soon if you do what’s outlined here), the first person to hire is a good solid administrator who can take over most of the office activities and free you to be out meeting people.  Yes, a real estate license is a big plus and in today’s economy they are plentiful and available.

Time Management:  If the sun is up, the highest and best use of your time is meeting potential customers and at this point that usually means sellers.  Save learning (which is very important) for after 8 in the evening and before 8 in the morning.  When the sun is up become a people meeting machine.  Create opportunities to tell your story.  If you need some down time, schedule it for 2pm Eastern time on Tuesday and Wednesday.  Use that hour to attend the Help-U-Sell webinars to get fresh ideas and connect with other Help-U-Sell members.  Unless you have very thick skin, one of the things that will wear you down is the feeling of being all alone out there.  You’re not, and the Tuesday and Wednesday calls are an opportunity to tap in and re-energize.

Here is a Great Truth:  there’s no reason you can’t get 20 or more listings this month all by yourself.  Really.  A listing is something you can DO as Floyd Wickman used to say.  You can get out of bed this morning and say, ‘Today I’m going to get at least one new listing,’ and there are things you can DO to make that happen.  You can’t DO a sale — there are too many variables, too many other people involved.  But you really can go out and get a listing today and most every day if you make that your purpose.  I’m not much for fear motivation but really:  if someone held a gun to your head and commanded you to go out and get a listing, you could do it, right? So, if you are on the ‘Build Listing Market Share’ step, why not just decide you’re going to get one every day this month?   There will be days that something will block you, of course, but I bet if you are single-minded in the pursuit you can get 20 in 30 days.

OK?  On to Step 2!