As a real estate agent, you have most likely encountered difficulties finding new listings in the current market. While buyers are scrambling to put together competitive offers, buyer’s agents are searching high and low for available listings.
Many agents are wondering when the market will shift to a state of “normalcy,” or if this is the “new normal”. Which leads us to pose this question, “what if you could find success within the current market?”. A new perspective combined with an accelerated focus on discipline may be just the thing to help you grow as an agent!
From a recent interview with RPR and Bruce Inman, a broker/associate with Better Homes and Gardens Real Estate, Bruce shares his innovative approach to generating leads to help grow your business. His approach is rooted in developing relationships by using what he calls “The Daily Five”.
So, what is “The Daily Five” and how can it work for you? Well, it starts with discipline, consistency, and a well-defined system of finding your target market. Bruce shares that his approach begins with targeting prospective clients and says that “every day, seven days a week, I mail out five Seller’s Reports to prospective clients”. He went on to say that “I’ve been doing this for four years, and I know for a fact that it works.”
Sounds pretty simple right? Well, the good news is that it is so, let’s get into the details of Bruce’s Daily Five!
- Each day search for expired and terminated listings. Then, using a map, search for homes near properties where you’ve had a listing. Using that as a radius, look for properties that meet your criteria.
- Check the tax records to determine how long the current owners have owned the property. If the length of ownership is 10-20 years and the mortgage isn’t upside down, add it to your list of prospective clients.
- Repeat the search until you have identified 5 properties and then create a property report to send to the prospects. Bruce uses the RPR Seller’s Reports for this and says that he removes any unnecessary pages so that it’s not too big or overwhelming. Generally, he says that he tries to keep the report to 10 pages. Be sure to customize the cover page to include your picture, branding, contact information, and a custom introduction message. In addition, he says that including a current market analysis is extremely beneficial as it gives the prospective sellers an idea of what their home is worth.
- Once you have your report, have it bound at a print shop and mail it with at least two business cards. He suggests that you handwrite the address to give it a personal touch and says that this technique really resonates with people. Inman says that “…the personal touch of handwriting the address has a huge emotional impact…and people keep these reports around, because it’s about their home”. Bruce also says to be patient noting that “one couple called me two years after I sent it, and when we met in person, it was right there on their coffee table.”
So, there you have it, your Daily 5! As with most things, taking the first step is the most challenging but with the right mindset and discipline you too can reap the rewards! This approach to generating your own organic leads is paramount to the success of your business and is one that we suggest trying. The main lesson to success is exactly what Mr. Inman states – “you have to be consistent, and stick to doing it every day, and don’t get frustrated if you don’t see immediate results. It took me six months until I got a response, and then they just kept coming.”
If you are interested in learning more about generating leads or have ideas to share, we would love to hear from you. At Dennis Realty, we provide weekly training on a variety of subjects for our agents, and we have an unmatched support team to help you create your own success story. Find out more about what we offer at joindennisrealty.com.
RPR is an exclusive property data tool provided by The National Association of REALTORS®. Get started today at narrpr.com or visit the RPR Learning Center to access free webinar sign ups, on-demand tutorials and helpful printable guides.
Source: McGuire, Beth, “Connect With Prospects and Leads Using the ‘Daily Five’ Method” RISMedia, 4 May 2021.