Research reveals top agents’ strategies

Details about how top real estate agents do business are some of the insights gained in research conducted jointly by Tech Savvy Agent, Realtor.com and the National Association of Realtors®.

“This was an unprecedented study with surveys and live interviews,” said Steve Pacinelli, co-founder of Tech Savvy Agent and vice president of industry events for Move, Inc. He’ll be presenting some of the results during his presentation, “Unprecedented Insights – What It Takes To Be Elite,” at Triple Play Realtors® Convention, December 8-11 in Atlantic City.

The survey revealed some interesting results and specific language successful Realtors® are using in their businesses.

“We found that the need for prospecting decreases as an agent becomes more successful (44 or more transactions annually). The study showed that once an agent attains that level, they’ve developed systems that create leads for them and they spend more time communicating with their buyers and sellers,” Pacinelli said.

The research indicated that scripting is vital to a prosperous real estate business. “We found that if a consumer is months away from buying a home, the wrong language from an agent can actually scare them away from buying a home. That’s why specific verbiage and phrases are key to getting positive results,” he said.

Another area evaluated in the research was open houses. “We found that too many agents are asking for contact information from consumers but they aren’t providing anything in return,” he said. “To be more successful, ask open house visitors to register on an iPad and provide them with a market report on the neighborhood. Agents who do that are giving something in return and this will end in a real prospect.”

Thriving Realtors® use a different approach to expired listings. “The best agents are calling homeowners with expired listings and offering to provide an analysis of why the property didn’t sell,” Pacinelli explained. “Instead of making a hard push for the listing, they are trying to help the client and give them some helpful tips to sell their home.

“We have a year’s worth of data collection and live interviews compiled to provide real understanding about how to change your business to be more successful. There’s never been a survey that’s been this comprehensive and we’ve gained some perception about what works in the real estate industry,” he added.

Pacinelli will present two programs at the Triple Play Realtors® Convention in Atlantic City, December 8-11. His programs include: “Mobile – It’s Not Just About the Apps,” and “Unprecedented Insights – What It Takes To Be Elite.”