Key Tips to Transition Into a Listing Agent
To hit the top tiers of success in real estate, focus on becoming a listing agent. Most listing agents start out as buyer’s agents when they first break into the industry, and around 80% to 85% of them maintain that role—only around 15% to 20% of all agents actually list properties. But you’ve probably heard the phrase “you have to list in order to last.” That means to become ultra-successful, you need to transition into being a listing agent.
Research has shown that most agents spend about 40 hours total with their buyers in order to get from the first appointment to the closing table. On the listing side, most agents only spend a total of eight hours with their sellers from the beginning to the end of the transaction. Can you see why being a listing agent is so much more effective?
So how do you make the transition from buyer’s agent to listing agent? The key is to contact each of your past clients once or twice a month after your sales. There are lots of ways to stay in touch with past clients. You could set them up in a drip email campaign; send out letters, postcards, or other mailers; and keep in contact via social media.
Every time you close a sale, you need to do two things:
1. Set up each client in the MLS to receive monthly updates about which homes have sold in their neighborhood and for what prices. This is an easy way to keep in touch with people, and the beauty is that everyone wants to know how much their house is worth. It’s also a way to provide them with valuable information and establish yourself as an expert. That way, when it comes time for them to sell years from now, you’ll be top of mind as their real estate advisor of choice.
2. For each sale you close, set an appointment on your calendar to offer a property valuation report to the homeowners on the anniversary of their sale. There, you can talk to them about how their property has grown in value and answer any of their questions about the real estate market moving forward. More than just helping you transition into a salesperson, this will help you become an advisor.
If you have any questions about becoming a listing agent, give me a call or send me an email. I’d love to set up a time to chat with you about how we can help double your income over the next 12 months.