As a real estate agent, listings are the lifeblood of your business. Listings lead to buyers, sellers and more referrals – jumpstarting the flywheel that propels your success. So how can you quickly ramp up your inventory?
In this post, we’ll unpack the key strategies from Ricky Carruth’s high-impact “30 Listing Challenge” video. Ricky built a $100 million real estate business in his first 5 years by relentlessly pursuing listings. Here’s how you can replicate his success.
Overview: 3 Core Strategies to Get 30+ Listings in 90 Days
Ricky’s goal is straightforward: secure 30 additional listings over the next 90 days. He outlines 3 main strategies:
1. Direct Mail: Target absentee owners and “for rent by owners” by obtaining property data and mailing marketing letters.
2. Expired Listings: Call owners of recently expired listings to offer your services and build rapport.
3. For Sale by Owners (FSBOs): Connect with FSBOs through mailers, calls and open houses to convert them to listings.
This is an ambitious yet achievable goal for a hard-charging agent. By combining outbound prospecting, targeted marketing and leveraging existing seller leads, you set yourself up for listing success.
Let’s explore examples and proven tactics within each strategy:
#1: Direct Mail Prospecting
Direct mail endures as one of the highest-converting marketing channels for real estate agents when executed correctly.
Here are 3 keys to maximizing direct mail for listings:
Research and Segment Your Audience
Target absentee owners in specific neighborhoods who may be more open to selling. Prioritize “for rent by owners” as they already think like investors.
Personalize Your Message
Send hand-written letters discussing their specific property. Use public data to compile facts and craft a custom value proposition.
Handwritten notes have 6X higher open rates than generic, glossy brochures according to research.
Make Follow-Up Calls
Mail on its own has limited impact. Combine it with outbound calls to increase conversions dramatically. Strike when interest is hot 24-48 hours after delivery.
Bottom line? Well-researched, personalized, multi-channel outreach ensures your message gets attention and action.
#2: Tap into Expired Listings
Unpublished real estate data reveals over 1 million property listings expire annually without selling. This presents a prime opportunity to convert sellers.
When targeting expired listings, focus on:
Research Motivation
Dig into why sellers pulled listings. Were they unrealistic on price/terms? Personal reasons? This intelligence helps craft your pitch.
Provide Solutions
Have market comps ready demonstrating realistic pricing. Outline your exceptional marketing plan for maximum home exposure. Be the problem solver!
Build Rapport
Don’t jump straight into a listing pitch. Explore the owner’s needs first before discussing your services. The goal is developing a relationship.
The key takeaway when contacting expired listings? Lead with empathy and offer solutions vs seeking business right away. Sellers will reward you for helping first with future referrals and loyalty.
#3: Network with For Sale By Owners
For sale by owners (FSBOs) represent huge potential for agents. Yet most FSBOs have reservations about hiring an agent, making them challenging to convert.
Here are 3 tips for connecting with FSBOs:
Send Customized Mailers
Preempt objections by showcasing your value. Tout past sales, five-star reviews from clients, leading internet exposure, negotiation expertise and more.
Host Open Houses
Partner with FSBOs by offering to host open houses for their home, absorb the marketing costs and leverage your sphere of buyers. Make it a win-win.
Build Trust
Get face time with FSBO sellers at their home. Ask intelligent questions about motivation for selling that demonstrate market knowledge. Focus on helpfulness vs pushing a listing.
The FAQ answers common for sale by owner objections to hiring an agent. Become an invaluable advisor first and the listing will follow.
Additional Listing Lead Sources
While the 3 strategies above form a strong listing foundation, agents shouldn’t limit themselves when aggressively pursuing inventory.
Here are 4 supplementary lead sources to tap into:
- Past Clients: Call everyone you’ve helped buy/sell in the past 1-3 years. People move constantly in this market.
- Referral Partners: Tell attorneys, accountants, contractors etc. about your 30 listing goal. Ask to be top of mind for any seller referrals.
- Open Houses: Host open houses for other agent’s listings. Capture buyer leads of course, but also sellers in the neighborhood as visitors.
- Online Leads: Optimize your website and social media presence to attract both buyers and motivated sellers. Expand digital reach.
The more nets you cast, the more listings you catch. Targeted prospecting combined with leveraging existing spheres of influence give you the highest probability of hitting your listing target.
Executing the 30 Listing Challenge: Step-By-Step Plan
Hopefully you’re feeling motivated and confident about ramping up listings quickly after reviewing these proven lead gen strategies. Now let’s map out an execution plan:
Week 1: Build Your Database
Spend week one preparing for success. Identify 150 absentee owners, 75 expired listings and 25 FSBOs using listing tools and public records. Curate and enrich contact info.
Week 2: Deploy Direct Mail
Send out your first wave of 50 personalized letters. Follow up with calls 3 days later. Secure that first batch of appointments!
Week 3: Target Expired Listings
Start calling expired listings immediately after mail delivery based on the motivated response window. Set at least 10 appointments.
Week 4: Host FSBO Open Houses
Coordinate with 5 FSBOs in your farm to host weekend open houses. Meet potential sellers and start establishing trust.
Week 5: Follow Up & Repeat
Touch every new lead again via email or call. Deploy your second direct mail campaign. Rinse and repeat outbound outreach.
Weeks 6-12: Relationship Building
Focus less on one-off transactions and more on nurturing relationships. This sustains listing momentum beyond the initial 90 day sprint.
Ready, Set, List!
Committing to a defined listing goal and timeline forces urgency and accountability in your real estate business. Implement this comprehensive game plan to gain inventory rapidly, demonstrate value to potential clients and build career momentum.
Now get out there and start listing!
Your friend and listing coach,
[Your Name]