How to Get Sellers Off the Fence and Into the Market

Sometimes clients in real estate are hesitant to put their homes on the market, but there are ways to work with potential sellers to create more inventory. Here’s some advice on getting sellers off the fence, from panelists who spoke on the topic during RISMedia’s Rocking in the New Year virtual educational event. 

How are you using market knowledge to generate more listings and get potential sellers off the fence? 

Howard Hanna CEO and panel host Hoby Hanna opened the discussion with this key question. 

“You want to know market activity. What is getting under contract?” answered Debra Beagle, CEO, managing broker and owner of RE/MAX Advantage. She shared that she uses social media to put out market knowledge to show other homes that are getting under contract. This helps her sphere know that now is a good time to list their home. 

How do you help clients who’ve used technology and think they know the market best? 

Cole McNew, vice president of Coldwell Banker Commercial Haynes, explained that sometimes potential sellers search their homes online and think they know exactly how much they’re worth, making them hesitant to sell. However, he emphasized the importance of adding expertise when working with these clients. 

“It’s really more so overcoming the technology that everyone has access to,” he said. “For me, my approach has been kind of outsmarting the technology and saying, ‘Sure, Zillow’s pretty close – it is currently worth this, but then here’s a handful of options to maybe make it worth a little bit more.” 

What are you doing with your value prop to create opportunities for yourself? 

“Practice before you play,” recommended Elizabeth Lucchesi, a Realtor® and real estate team leader. “Have these practice scenarios played out. Anticipate your questions and answer them.” 

She also encouraged newer agents to pair up with more experienced ones to help anticipate and answer the potential questions clients may ask, adding, “Have the answers before you’re in front of the very valuable client asking those questions.” 

“You have to figure out what you’re good at,” McNew answered, telling agents to know the value they bring, understand how their services stand out, help clients feel comfortable and know as many answers as possible. 

Beagle agreed on the importance of knowing the answers, encouraging agents to also know their own data, including how long their listings spend on the market and whether their listings sell quicker than their competitors. 

“In a changing market right now, open houses are gold,” she added, explaining that many sellers look at open houses, which allow agents to connect with those looking to sell and potentially get a listing for their business. 

What other ways can you move people off the fence and make the phone ring? 

Beagle said she focuses on educating the consumer and putting out educational content on social media, like YouTube. She also shows her market knowledge by hosting open houses and furthering her own real estate education. 

McNew has focused on direct marketing, both in person and through social media. He has found success by campaigning directly, as people crave connection and exclusivity, and they appreciate the chance to ask him one-on-one questions and tell him more about their homes. 

Lucchesi is also direct. She said she sends notes to neighbors after a sale, as well as diligent invitations to open houses in the neighborhood in hopes that neighbors will also want to sell. 

What’s your final piece of advice? 

Lucchesi recommended staying in front of the people who know you, like you and trust you, and digging further into those relationships. 

“Consistency is by far everything,” McNew added, telling agents how important it is to give expectations up front and do what you say you’re going to. 

“Education is paramount,” Beagle concluded. “I’m encouraging our agents to know the market and bring the data.”