Why Your Neighbors Aren't Calling You to List Their Homes

I talk to agents every day, and sometimes notice trends in things that Realtors are asking for. It seems some things are simply universal problems for all Realtors, no matter how many years they've been in business. One of those things that I've been noticing more often these days is the idea of an agent wanting to own the market in the neighborhood in which they live. Specifically, they seem to have not made headway in becoming the resident real estate expert in their neighborhood. They want to become that person, but they can't figure out how exactly to go about it.

The problem is kind of an interesting one. They want to dominate their neighborhood and list all the homes. They also realize, however, that these are their neighbors and, in many cases, their friends. They don't want to come off too salesy. This is a realistic problem to have. The thing about it, though, is that there are ways you can still get in front of your neighbors, establish yourself as the "resident expert" in your neighborhood and get that business you so desperately want (and deserve)—all without coming off too strong.

So today, I want to share three things you can do make this headway in your neighborhood and establish yourself as the resident expert.

Step 1: Educate, Educate, Educate

The best way to build good will and establish yourself as the go-to expert in your neighborhood is offer valuable advice to neighbors. Craft your marketing pieces to be educational in nature, addressing things that match with your neighbors' current life situations and will be deemed meaningful to them.

The VERY important thing to note here is that this is educational information that you are offering them absolutely without obligation. In other words, you expect nothing in return. So don't use your farming postcards, for instance, to send your neighbor to some sort of landing page where they need to fill out a survey form to get the item of value that you've promised. You want to offer it to them, free and clear, without obligation.

A funny thing happens when you do this. As humans, we have this internal desire to do something nice for somebody that has done something nice for us. I like to call it the givers gain mentality. If you give somebody great advice, with no expectation of anything in return, they are going to feel in debt to you, and they will actively try to repay the debt. This could be by them calling you when they are ready to list their home, or even referring you to one of their friends or family members.

Step 2: Get Involved in Your Neighborhood

The first part of changing any problem in this world is participation. If you are lamenting that you are not getting business from your neighborhood, the first thing you need to do is get involved in your neighborhood. When I say this, I'm not talking about door knocking (although it is a fantastic way to get face time with your neighbors and you should do it). I'm talking about involvement on a more personal level. There are many things you can do to get involved in your neighborhood.

In talking with many of our clients about how they can achieve this, we've helped them come up with all sorts of great ways to accomplish this. For instance, sponsoring the local Little League team, organizing an e-waste recycling day, giving away free pumpkins during Halloween time, or offering your open house signs to be used for a neighborhood wide garage sale are all great ways to accomplish this.

There are many, many ways to get involved. You just have to pinpoint which way will be best for you.

Step 3: Send Neighbors Appropriate Market Data

Market data is very important, but if you are going to send market data to your neighbors in your neighborhood, don't be lazy. Don't send county market trends, and do not send comps for homes that are out of the area. The more specific you can be, the better.

We worked with one of our clients, for instance, to do a marketing piece about the appreciation of homes in his neighborhood over the past 20 years vs. current day. It was super well received. Those that were on the fence about selling loved the piece and called him to see about scheduling a listing appointment. The piece is even great for those that aren't thinking of selling right at this moment. It still shows them appreciation and gets them in the mindset that they have a great investment with a lot of equity that they are sitting on, possibly making them become sellers down the road.

To view the original article, visit the Leading Agent blog.