How to Know When It's Time to Reach Out

May 02 2017

As a real estate agent, you're always going to depend on repeat and referral business. And part of that is knowing when to reach out and make contact with potential clients. But how do you know when it's time? Here are a few things that can tip you off.

1. FSBO signs -- When you see a home that's for sale by owner (FSBO), connect with the seller as soon as possible. Even if they're not interested in your representation initially, they may be willing to let you show their property, which can lead to listings later.

2. Expired listings -- Keep an eye on your area MLS and contact owners of expired listings. Try to pinpoint why the property didn't sell and help the owner relist.

3. Local professionals -- While any local business owner can be a potential source of referrals, certain professionals can be highly beneficial to a real estate agent.

  • Insurance agents are privy to client finances and long-term plans.
  • Divorce attorneys can give you a heads up on individuals who may be planning to buy or sell. Of course, this is a sensitive situation, so tact and genuine concern are essential.
  • Personal bankers refer potential buyers to their mortgage lender. If you can become part of this team, you can potentially help more people.
  • Financial planners already have the trust of their clients where money is concerned, so their referral can carry a lot of weight.

4. Major life events -- Often, the time to reach out is during a major transition in the prospect's life -- a newborn baby, a change in career or a windfall, for example. Social media provides the perfect means for monitoring such situations.

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