How To Turn A Closed Listing Into More Transactions (Multiplying Success)

How To Turn A Closed Listing Into More Transactions (Multiplying Success)

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I was recently asked how a new agent could turn their first closed listing into more business.

I congratulated her and offered some advice, but the reality is that this is what every agent, young or old, new or seasoned, should be doing every time they sell a home.

Why? Isn't it true that three or four commission checks are better than one?

And because you're already putting in the effort, you might as well push it a little further to get the most bang for your buck.

At this year's Success Summit, rockstar agent Lydia Gable of Westlake Village, CA, delivered a great presentation on this issue, so I'll share my recommendations and a few of her suggestions with you as well...

 

Step 1A: Pre-Sale Doorknock/Door Drop To Neighbors

Consider this a "bonus" tip because it occurs before the initial listing is closed.

Lydia's first step after receiving the listing is to knock on neighbors' doors to inform them that the house has been advertised. She claims to utilize one of the following two scripts:

"Your next-door neighbor just put their house on the market, and we're thrilled to be representing them. I just wanted to stop by and ask if you know of anyone who could be interested in moving into the area?"

"Hi, I just wanted to drop by to let you know that your next-door neighbor just listed their home with us, and because the market is so hot right now, we're expecting numerous bids on that house." "Have you considered selling?" says the narrator.

According to Lydia, this technique not only has the potential to "un-earth" potential sellers, but it also illustrates how hard you work for your clients, sowing a seed in the homeowner's head for when they decide to sell if they aren't ready now.

NOTE: During "regular" hours, you would use this chat to invite these neighbors to your Open House or Mega Open House. If you're already doing Virtual Open Houses, explain how they work and invite your neighbors as well.

 

Step 1B: Post-Sale Direct Mail/Door Drop To Neighbors

After the sale is completed, send a Just Sold postcard (or door drop) to every household in the neighborhood.

BUT... this isn't your typical "Just Sold" sign with a photo, address, and sale price.

I'd like you to include a "How we did it" section that outlines all of the actions you took to generate offers, as well as all of the facts about the outcomes of your efforts... how many showings, how many offers, sale price vs. list price, and so on.

This strategy highlights the value you provide to your customers and how your active marketing system produces the intended outcomes.

As an example, have a look at this postcard from Robert Mack of Irvine, California:

 

Step 2: Video Testimonials From Clients

Make sure to record a testimonial video with the seller to explain their experience and gain third-party credibility.

Ideally, you may edit the video to include some B-roll of the property, then share and promote it across all platforms: social media, your website, and even a targeted Facebook ad campaign to the neighborhood where the house sold.

 

Step 3: Go Live Or Film A Video In Front Of The Audience

Another video to shoot is you detailing the entire procedure while standing in front of the property in a simple "selfie-style" video.

Lydia's fantastic video recommendation is to present the narrative from the perspective of the seller, rather than from your own, which could be interpreted as gloating. Discuss their requirements, why they were relocating, why they chose you, and, finally, how you assisted them in achieving their objectives.

Don't forget to provide all the juicy facts... Things like how quickly you received the first offer, how many total bids you received, how much the property sold for in respect to the advertised price (only if remarkable), how many people missed out, and so on.

This will alert the neighbors to the current demand and may prompt them to consider selling their homes.

Make sure to share this video on all of your social media accounts.

Lydia also suggests that you "friend" and "follow" all of your clients on social media so that you can tag them and they may share it with their own networks.

 

Step 4: Request Recommendations

Throughout the process, Lydia advises, you should seek referrals from your client. Always inquire who else they know who might be considering a move, especially towards the end of every deal.

 

Step 5: From The Seller's Point Of View, Write A Letter To The Neighbors

Writing a "testimonial letter" from the seller's perspective is one last opportunity to share the tale of what you achieved for them. Make sure you seek their permission before putting their name to your words, but that should be no trouble if everything went well.

Here's an excellent example, courtesy of Orlando, FL's Ken Pozek:

I've given you five solid suggestions to implement, and if you stick to them, you'll quickly become the "go-to real estate resource" in these towns. All it takes is a little extra effort and the determination to complete the stages described above.

Experience The Difference

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