How to Get Ahead in a Hot Real Estate Market
The real estate market is hot. There’s no doubt about it. In fact, the chief economist for the National Association of REALTORS® (NAR), Lawrence Yun, noted in May that there were more NAR members than listings in the marketplace—an extremely rare event.
Still, despite this inventory shortage, many agents have had their hands full between serving their clients and keeping up with their current transactions. What’s the secret to their success?
The top-producing agents in this market are the ones prioritizing service beyond the sale. That’s because in a market where everyone is competing for leads, the agents who have spent years nurturing client relationships are more likely to receive referrals—which is the highest quality lead—than agents who disappeared after the contract was signed.
To get ahead in a hot real estate market, you must consistently provide your database with value in order to build relationships that lead to referrals. Here are a few ideas to help you get started:
Send a Market Update
The state of the real estate market is always a hot topic, even for people who aren’t trying to buy or sell right now. Check out what the top real estate experts are saying and share that with your database. Don’t forget to include local market data as well. You may choose to distribute this information as an emailed video, a print mailer or a Facebook Live broadcast.
Send Snail Mail
Opening a piece of mail that isn’t a bill, credit card offer or store circular can be exciting. Create that feeling for your clients by sending them some snail mail. Write clients personal notes to express gratitude and check in on how they’re doing. Supplement those notes by mailing monthly value-add marketing flyers on topics like real estate, home improvement, personal finance and productivity to demonstrate your competence and character and give clients a full picture of who you are.
Pop by With a Small Gift
Small client appreciation gifts are a great way to show your client you value their business and the relationship. Pop by their home and leave the item on their doorstep—send a picture or video of the item to let them know you came by. These items don’t have to be extravagant. Try things like flower seeds, sunscreen, s’mores kits or anything else that goes with the season. Attach a small tag that reminds the recipient that you are never too busy for their referrals.
In order to succeed in this competitive real estate market, agents must ramp up their own value-add real estate marketing strategy. Buffini & Company Referral Maker® PRO real estate marketing kit can help. This monthly kit includes unique, beautifully designed marketing mailers, digital eReports, notecards, market reports and so much more. Learn more about Referral Maker PRO.