How to Get Seller Leads in a Sellers' Market

There's no need for more than a few words on just how much of sellers' market we're in. Home prices are at record highs. Inventory is at a record low. And, to make matters worse, due to the pandemic, there are more agents than ever competing for clients. But you know all that already.

So, let's jump right into the meat of the matter: What can you do to win more seller leads?

Leverage your past solds in your advertising

While there is a multitude of smaller factors that influence a consumers' choice in an agent—such as digital adeptness—ultimately, the single most important one is the agent's ability to sell their home. Obvious, right? You'd be surprised, though, by how many agents fail to realize they can leverage their past successes in their current marketing.

Past solds are advertisements that showcase how well you sold a property. Ideally, they champion a win that separates you from the competition—a home sold X% above asking price, a property that went under contract in record time, etc. The key isn't so much to show you can sell a home but to demonstrate that you can do it better than anyone else.

Here's an example of a past sold:

Remember, the relative lack of inventory on the market coupled with a greater number of agents has given prospective sellers more choice in representation than ever before. As many of them are lured to the market by record-setting home prices, to win their business, you'd do well to convey that you're a better alternative than your competition. Sprinkling in past solds in your digital marketing—on sites like Facebook, Instagram, and Google—is an easy way to get a leg up.

Strengthen your online reviews

Again, prospective sellers have the luxury of being more discerning than ever, and one negative review—or the lack of any reviews altogether—can be just enough to dissuade them. Spend the time now to rigorously audit your reviews.

Though every review site counts, Google has won the battle for consumer trust. Many third-party reviews have come under fire for review manipulation, so users overwhelming view Google, a business built upon delivering searchers relevant and correct information, as the most likely to provide a fair representation of consumer sentiment.

So start there. Reach out to past clients, colleagues, friend, and family, and encourage them to leave you a review on Google. You'll quickly strengthen your rating—and quickly reassure prospective sellers you're an agent to trust.

Optimize your prospecting to the individual

We live in a world of personalized advertising. Every email. Every digital ad. Every content recommendation is tailored made because it's more effective in converting consumers. So why shouldn't your real estate prospecting reflect that?

Gone are the days of mass mailings and blanket canvassing. To truly stand out from the crowd, you should hone your marketing to the individual level. Use real estate heat maps, like Homesnap's Likelihood to List, to identify homes likely to hit the market and then leverage homeowner contact information to create tailored postcards or marketing materials. The extra step goes a long way in differentiating yourself among the many agents spamming out generic mailings.

Offers something for nothing in your marketing

Good marketing is an exchange of value. So, ask yourself, what could you offer to potential prospects?

One idea: Don't use your website solely as a means to advertise. Offer prospective sellers something beyond static information about your business. That could be a newsletter, a market report, a free-home valuation tool, anything really. So long as you're offering value, sellers are that much more inclined to visit your website (and ultimately hire you) over those of your competition.

Be vigilant about discovering new advertising channels

The beauty—and the terror—of digital marketing is that it's constantly evolving, and agents who are early adopters stand to benefit the most. Just think about social media. Only a decade or so ago, many agents shied away from Facebook and Instagram advertising. Today, it's a necessity, and those who were first to build followings still reap the benefits.

For a more recent example, consider Google Local Services Ads. These brand new ads seamlessly facilitate contact from homebuyers and sellers. They sit at the top of the Google search page, above traditional paid search advertisements, and enable users to live call an agent directly from their desktop or mobile device. Agents who take advantage of these ads while they are still new are at a tremendous advantage: They'll appear at the very top of the Google search results page every time a seller in their market searches for an agent.

Remember, though, GLS Ads are the latest advertising product—not the last. So make sure you're always looking for ways to stay ahead of the curve.

For more information about running GLS Ads for your real estate business, read this blog.

To view the original article, visit the Homesnap blog.