Benefits of Working with Sellers
Last week on the KellerINK Blog we talked about the many benefits of working with buyers. Now it’s time to look at the other side of a transaction and discuss the positives that come from working with sellers.
A listing-focused business has many benefits. Listings are the most efficient way to earn money for the time an agent works. They increase marketing opportunities and build business because more clients will come through each listing.
Rookie Real Estate Agent, p. 178
1. Marketing Opportunities
A seller listing provides marketing opportunities for both the property and your business. Think about it. When a seller signs an agreement with you, you put a sign in their yard. That sign is not only advertising their home, but you, too! Holding your own listing open is a perfect win-win. With open houses, you get to market the property and your practice! Whether or not you hold an “open,” you’ll have chances for directionals, direct mail, door hangers, and more—all with your name and business in a prominent font!
2. More Business
Ultimately, working with sellers breeds additional business. Because of the marketing opportunities listings create, you’ll reach more leads. If you properly market your properties, you will undoubtedly bring in buyers who need an agent. According to ten years of National Association of REALTORS® surveys, 39 percent of sellers used the same agent that sold their home to help them buy a new one.
One of the truths of real estate is that those who control the listings, control the market. Finally, all those sold signs add up to a reputation. When listing side of your business grows, your business will grow. It’s that simple.
3. More Income for Your Output
Leveraging listings can mean big returns for your business and your time. Working with sellers allows an agent to take on a greater volume of clients. Listings simply aren’t as time intensive. A newer solo agent might struggle to work with more than four or five active buyers at a time. How many homes can be shown in one weekend? But lots of successful solo agents will carry dozens of active listings at once.
Listings mean more control of your time, so you have the potential to earn more. After all, being able to set your schedule and not limit your income are two reasons people become agents in the first place. What’s not to love?
4. Pricing and Market Knowledge
A listing agent gets to be on the front end of pricing and market knowledge. They will know the area’s inventory before other agents do. And, be the first to know when the market shifts. Having your finger on the pulse of where the market is headed helps all agents better serve clients. Working with sellers or buyers, you’ll become someone people depend on when they want to know what’s happening in their area or want to sell their house for the biggest return.
There’s no doubt that having a listings-based business can provide you with a big, fulfilling career. Are there other things you like about working with sellers? Let us know on our Facebook page. And don’t forget to check out our blog for more insightful advice and research.
*Most of this information is from Rookie Real Estate Agent: Launch a Limitless Career That Lasts by Jay Papasan. The book is available for pre-order NOW!