Inventory is low, anxiety high – helping real estate agents generate listings AND keep burnout from creeping in is at the top of to-do lists!
We understand the anxiety many real estate agents feel as they struggle with a historically low listing inventory. It’s scary out there for many of you. BUT we don’t want anyone getting lost in the doom and gloom and buying into the idea that there is no business out there. It’s time to get busy, creative, and outside of ALL the boxes.
First, focus on building relationships with your past clients. Every single week we hear from our coaching members, often with surprise and delight, at how simple acts of calling to connect or stopping by with small gifts for past clients are generating big results – and a whole lot of smiles. It’s amazing how powerful, unintimidating, and confidence-boosting coming from a place of service can be.
Second, expand your marketing efforts. We are big fans of direct mail, but that can be tough for agents that don’t have a budget. Don’t turn down the opportunities to door knock and get to know the neighbors in your farm area, host open houses (even if they aren’t your listings – and even every weekend if you have to), and use automated tools like SlyBroadcast to easily and affordably reach out to both prospects and past clients alike with powerful voicemail dialogues. We’ve developed and are expanding these tools for agents to help them speak one-to-many without spending all day dialing.
Third, be proactive in your search for listings. Don’t wait for properties to come on the market – reach out to homeowners in your target area and offer your services as a listing agent. Talk to your broker about old client files that are no longer being serviced that you can re-invite to work with your company, deploy smart lead gen tools like REDX that DON’T cost a fortune and have a solid reputation to help eliminate the speed bumps in your prospecting.
Fourth, get a big handle on the truth that “busy” doesn’t always mean productive or profitable. We can spend a whole lot of time on “busy work” that is distracting – but will never, ever help build the bottom line. Focus on the highest priority activities first each day, like prospecting and lead generation. Delegate as much of the rest as you can.
Finally, don’t go it alone. Burnout and prospecting fatigue are very real, especially now. Find a community of agents or a coach or both that help you feel supported, heard, and inspired.
While the current low listing inventory may be a challenge, there are plenty of things you can do to stay in business and continue serving your clients. By focusing on relationship building, expanding your marketing efforts, being proactive, ditching distractions, and connecting with a community, you can position yourself for success in any market.
Got a burning question you’d like to see answered? Click here and ask away!
Interested in an inventory building workshop for your organization? No problem! Book Darryl to motivate your team, move them to take the kind of actions they need to build inventory like a pro, referral-worthy relationships, and motivate them to make prospecting a serious focus! Email us at email@example.com to learn more.
Darryl Davis is an award-winning international speaker, real estate and business coach, and best-selling author of three books, all published by McGraw Hill Publishers.
For more than 35 years, Darryl has spoken to and trained more than 100,000 sales professionals around the globe to more than double their production year after year. His book, How to Become a Power Agent in Real Estate, tops Amazon’s charts for one of the most sold books to real estate agents.
He was awarded the Certified Speaking Professional (CSP) designation by the National Speaker’s Association which is given to less than 2% of all speakers worldwide.
Whether from a stage or Zooming into a virtual room, Darryl’s extraordinary humor, relatability, and natural gift for teaching real-world, results-producing skills and mindsets to audiences have made him a client favorite throughout his career.
Audiences will laugh, learn, and ultimately walk away better prepared for a changing world, with the tools, skills, and training they need to build their businesses with more ease and less stress and to design lives and careers worth smiling about.