Real estate agents can overcome lead scarcity by using existing networks, providing valuable information, and exploring cash offer partnerships.
I’ve been asked this question a lot recently, and for good reason. High interest rates and a slower market have reduced the number of sellers out there which means you have to put in more effort to get your fair share of listings. At the same time, in the wake of the NAR lawsuit, a lot of agents who used to work primarily with buyers are starting to focus on sellers. Whatever your situation is, don’t worry. There are still plenty of seller leads in this market; you just need to know where to find them. Here are my three favorite ways to find seller leads in this market without breaking the bank.
1. Old Buyer Leads. As a real estate agent, your most powerful tool is your database. If you aren’t leveraging people you’ve already met, you probably aren’t maximizing your business potential. That’s why I recommend looking into an app or marketing service that markets to your database to generate leads from people you’ve already met.
There are plenty of options that fit every budget, but I don’t recommend trying to market to your database by yourself. If you have thousands of contacts, it can be time-consuming, and your hours are probably better spent actually following up with leads and managing transactions, not emailing and calling every contact in your database. If you have questions about which service might be best for you, just send me a message and I’ll share the systems I use for these.
2. Seller Seminars. I love seller seminars because they have minimal costs and bring in high-quality leads. Here’s how they work: Invite people from your database and farm to set up a seminar all about selling their homes. If you don’t have time to set a seminar up in person, you can even do this over Zoom or a similar service. You instantly build trust with the attendees by giving away all this valuable information for free. In other words, you position yourself as a reliable expert who knows what they’re doing.
Some of the attendees might just go ahead and sell their homes themselves, but most will see how knowledgeable you are and decide it’s just simpler to work with you. These are some of the most reliable leads you can get, so be sure to leverage this strategy if you aren’t already. If you’re unsure of what to present, keep an eye out for one of our upcoming seller seminars.
3. Cash Offer Partnerships. Partnering with a real estate investor who can make cash offers provides a valuable advantage for residential real estate agents looking to generate seller listings. Many sellers are curious about what a cash offer might look like, especially when it promises speed and convenience.
However, in most cases, the investor’s cash offer will be lower than the market value, which is typically not high enough for many sellers. This curiosity about the cash offer opens the door for a meaningful conversation about listing the property on the MLS, where sellers can aim for a higher price and attract more buyers. By offering both options—an immediate cash offer and the potential for a higher sale price through traditional listing—you position yourself as a problem solver who meets the seller’s needs while creating opportunities to secure more listings.
As a final word of advice, you need to focus on quality, not quantity in this market. There just aren’t as many leads to go around, so the best way to increase your income is to make sure more deals actually reach closing. If you need any advice on how my team does just that, please call or email us. We’d love to hear from you!
