If you’ve been in the industry for a while, you’ve probably built up a healthy percentage of repeat and referral business. Although it can be tempting to just maintain those relationships rather than generating new business, there’s something to be said for staying on top of your game by never resting on your laurels. Actively pursuing new clients is not only a way to generate more business, but depending on how you do it, it could even lead to a profitable new niche. Here are just a few ways to build up your new client base.
1) Become a referral partner with industry peers
Everyone from mortgage lenders, to financial planners, to insurance agents, can be potentially lucrative referral partners for a Realtor®. You may already have great relationships with some that just need to be more formalized. But, you don’t just want to partner with anyone, make sure these are people you also feel completely comfortable referring your clients to – people who share your values and work ethic.
Another avenue to consider is divorce attorneys – yes, you heard that correctly. Helping people go through this difficult period actually requires a very specific skill set. You need to be able to handle the legal aspects, as well as the emotional ones. There are numerous training courses you can take if you decide to take this route, which could end up being a lucrative and much-needed specialty.
2) Cold Call Expired and FSBO Listings
This is a route a lot of agents take when they are just starting out, that usually leads to great success. You probably haven’t cold called since you started out, and this is a great skill to build up again. It will not only sharpen your sales skills, but could generate a lot more business.
People with For Sale By Owners (FSBOs) and expired listings, are usually very motivated to sell. This is a great chance for you to really hone in on why they need to hire you. Do you offer innovative marketing plans? Access to a large sphere of influence? Expired listing clients are looking for ways to sell a property that seems impossible to move. With FSBOs, you need to show them how you can get them more money in their pocket, even with paying you a commission. Pursuing both will really engage your mind to think outside of the box, which will not only get you more business, but make you better at what you do.
3) Partner up with a Relocation Company.
This is another niche market that you can really capitalize on if you want to pursue a new specialty. But, it is a specialty, so getting educated on the process will help you generate the business you want. It’s a complicated area of real estate, you’ll often times be helping to facilitate dual transactions, as you try and secure a property at the same time you are helping your relocation client sell their previous home. This specialty is becoming an in-demand skill in areas that have major corporate headquarters.
4) Become a Builder’s Realtor® of choice
This can be a real score for any Realtor®. The competition might be fierce to land a client like this, but there are numerous ways to make yourself stand out from the rest. Gain certifications and become knowledgeable about the construction process. Be well-versed on what trendy materials, features, and finishes will add value to a property.
Get the builder on board with you by offering to take just a segment of the subdivision then wow them with your marketing skills. Take on properties they haven’t been able to sell. You can even offer to throw an open house for them. This is another way to show them the level of service they can expect from you. These clients might be harder to land, but the payoff will be enormous.
5) Create a Website That Offers Real Value to Potential Clients
Perhaps the most useful way of getting contact information for people looking to sell is by adding a home valuation feature to your website. When people are first considering selling their home, finding out how much it is worth is one of the first questions they want answered. By becoming a resource to potential clients (and current clients!), you just might be the first person that comes to mind when they’re actually looking to sell.