One of the BIG benefits of being a short sale specialist is that you have the listings. It’s not just a nice thing either, it’s a MAJOR strategic advantage over other real estate agents.
Perhaps one of the saddest things I see too frequently is an agent selecting to quit focusing on short sales, to go after buyers thinking that’s how it works.
Can you find buyers without listings? Sure. But it’s much more expensive.
Can you have listings and not find your own buyers? ABSOLUTELY! I did it for 3 years. One day Ryan asked me why I didn’t have my own buyers on most of my properties (it was part of our Master Plan we’d laid out 5 years ago.) So it became an immediate focus.
The MOST effective strategy I’ve used, of everything I’ve tried, and if you know anything about me, you know I throw everything into whatever I’m trying to figure out, and I NEVER cut corners…of all the strategies, the most effective has been the text message rider.
For quite a while I’ve had a short code (a 5-6 digit number) that I instructed people to text a keyword to (generally ‘photos 3′) with the promise of more information about the property.
When the buyer sends the text message in, my buyer’s agent gets a text message notification and calls immediately to ‘confirm’ that the buyer prospect received the response. Oddly, they always have it! My buyer agent then begins to gather contact information, qualify the prospect and establish rapport.
Her current conversion rate is 42% of buyer leads to buyer clients. Not bad.
Recently we decided to see what we could do to get more people texting in and do a better job pre-qualifying them and gathering contact information.
The biggest hurdle that buyer prospects face with texting is that a short code is still a new concept. Most of their texting occurs with regular numbers rather than short codes, so I have moved to regular 10 digit phone numbers to receive the incoming text.
Next I added conversation verses a single outbound text. The conversation is designed to filter and gather more data, while building rapport and buying my buyer’s agent time to call the prospect.
If you’re not using text message sign riders or making it an integral part of your signs, then you really should to leverage one of the tremendous advantages you have over buyer focused agents that are not teamed up with a short sale specialist.
To see how this is done, go to http://j.mp/ykMtX6.