5 Effective Marketing Strategies for Generating Genuine Seller Leads in a Low Inventory Market

Apr 27, 2023

In a market where inventory is tight and competition is fierce, it can be difficult to stand out and attract potential sellers. In today’s training, we’ll cover 5 effective marketing strategies you can implement straight away to generate genuine sellers leads, build your business and establish yourself as a trusted real estate agent in your local marketplace, even in a challenging market.

If you want to generate genuine seller leads that convert into signed-up sellable listings quickly through your marketing activities - and by quickly, I mean within the next 30 days - then there are a couple of components to a targeted marketing strategy that you must have right in order to literally guarantee yourself results. Let me list these components for you:

  • First, to not waste your hard-earned and sometimes hard-to-come-by marketing budget dollars, you must have absolute certainty of the validity of your marketplace or farm area. You need to know for a fact that the turnover in the marketplace is hitting the required numbers for you to market to it. I cover this in many lessons, so I won't go into it today, but I will direct you to the lesson, 'Does My Marketplace Make Enough Money?' in the Get Listings Bootcamp Program.
  • You will need an effective mix of online and offline marketing activities, and they must work in tandem. The majority of online content for local real estate agents will be profile building, with the objective of keeping you top of mind. It won't necessarily result in seller leads straight away, but there are a couple of ways for it to do that, which we'll cover in a moment. In general, online marketing is most powerful in reinforcing the offline marketing message you're projecting to your farm area. It's a modern way to embrace the marketing rule of 7, which states that a prospect must see your marketing material at least 7 times before they acknowledge and take action on it. This leads me to the next point:
  • You need a marketing plan that runs a consistent set of activities for roughly 12 weeks, ensuring weekly attacks targeting the same grouping in your farm area every week.

How do I know this marketing system works? This information is purely based on experience. I have a 12-year background and education in advertising and marketing, and I've been a top-performing local real estate agent for 13 years. For the past couple of years, I've been creating and selling a digital-based training product from scratch, where I spend thousands a month on online marketing, so this combination of real world career and entrepreneurial activities gives me a very full and informed understanding of what needs to take place within your marketing and prospecting activities to gain real results. 

Let's look at one way you can get your online marketing activities to generate genuine seller leads quickly. Although it's a little more involved, it bridges the gap from your online marketing being a purely profile-building exercise to an activity that can drum up real business for you. That is with the use of what is called a lead form advert for use on Facebook. In simple terms, a lead form collects a lead's information, such as their email address, name, and phone number, in exchange for something of value.

Now, this is where you have to be smart; otherwise, you will end up with a lot of leads that have no real value, and each lead will burn through your marketing budget.

As you know, I am a big fan of listing agents engaging a 2-minute property sales video as a tool to promote their listings for sale. These videos have a very intentionally crafted script that not only details the 3-5 major selling points of the property but also displays, to potential sellers in the local marketplace, the real estate agent's modern marketing skills, excellent sales communication, and ability to present a property in the best light. Again, I cover the benefits of video as such a powerful marketing tool in loads of lessons, so I won't waste time doing it here. But I will direct you to take the mini-course 'Skyrocket Your Listing Success with Video' where you'll also be able to download the script I just mentioned, in The Get Listings Bootcamp program.

So, bringing this back to today's training, combining something as impressive and powerful as a 2-minute property sales video with a lead advert, offering the local potential sellers in your targeted farm area a free property market update, is one combination of online elements that will drum up genuine seller leads from your marketplace.

A local online advertising campaign, such as this, should run at around $20 a day and must be targeted to the geographic area of your farm area only. The thing to bear in mind is that Facebook is very clever, so once your lead advert starts getting real results, the algorithm starts to understand better who it should serve your advert to in order to get you more leads. To get it right, you need to be very intentional in your marketing message, very clear on your target audience, and very clear on the physical marketplace you want to Facebook to serve the advert to.

Let's look at one offline marketing activity that is particularly good at generating genuine seller leads quickly, and that is the targeted use of direct mail. The philosophy of why direct mail works is really simple, and you've heard me say it before. Not one person will take a professional white stamped envelope from their mailbox and walk straight to their bin to dump it before first opening the envelope to ascertain if the contents are of interest to them. It's that undivided attention that the letter gets for those short seconds you must capitalize on. Again, I cover this in detail in many lessons, so I won't do it in today's training. But I will direct you to the mini-course 'Get 20-50 Genuine Seller Leads in 30 Days with This Proven Direct Mail System,' which you will also access with 19 letter templates as part of The Get Listings Bootcamp Program.

In today's training, I want to focus on a couple of tactics you need to engage to ensure you generate genuine seller leads quickly from your local farm area. First, remember the magic is in the focused attention the potential sellers have on the envelope and letter contents - you want them to open it and read it. Therefore, have the plainest white envelope - no logos. You do not want them to think for a second it's a promotion. Keep the letter simple, professional, and to the point. No brash colors or images - do the opposite of what a promotional letter looks like if you want to hold their attention. Finally, to get results quickly from your direct mail campaigns, use it with niche groups in your farm area such as property landlords, property developers, absentee owners, and targeted groups or streets of homeowners. In my own business, I send 1000 letters monthly to the same 1000 contacts for a 12-month period

Let's move on to the fourth way of generating genuine seller leads through your marketing activities - email marketing as a means of managing your database. Unfortunately, many agents fall short in database management, missing out on real leads and money. When engaging in email marketing, it's essential to have a clear purpose and target audience. For the purpose, keep it simple - showcase your effectiveness as a real estate agent and demonstrate your ability to meet the needs of potential sellers in your marketplace. To build credibility, share your open home schedules, new listings, testimonials, reviews, and fact-based property market updates with your database. Sending one short email newsletter weekly to your entire database is a cost-effective tool to keep you top of mind.

And the fifth and final way we'll cover in today's training as an effective marketing strategy to generate genuine seller leads quickly from your farm areas is to get involved with the local community. If you want to be seen as a trusted advisor to the local community in terms of their real estate needs, then you need to become a familiar face within that community. As discussed at the beginning of today's training, this needs to be worked in combination with a driven marketing campaign.

To make community involvement work for you as a lead-generating tactic, you need to be strategic in the activities you engage in. You don't want to waste a lot of time sitting around in cafes with a group that is unlikely to sell anytime soon.

The three community-based activities or groups that are particularly effective are those based around the local schools, the local center of business, and the local government. Activities which can be engaged that will not only build awareness of you as a local and active real estate agent but also generate leads are sponsoring local school and sports events and then showing up and participating in those events, joining the local chamber of commerce and attending the meetings, and sitting in on the local government meetings where the public is invited to attend and getting to know those people who are passionate about the community and what's going on in it.

Remember, you will always get genuine real estate leads when you talk to the right people often.

In today's training, we've covered 5 effective marketing strategies that you can start implementing right away to generate genuine seller leads and establish yourself as a trusted real estate agent in your local marketplace. In a highly competitive market where inventory is tight, these strategies can make all the difference in attracting potential sellers and building your business.

From the importance of market validation to the power of targeted online and offline marketing activities, we've explored a range of tactics that can help you stand out and connect with potential sellers in your farm area. Whether it's using lead form adverts on Facebook or leveraging the undivided attention of direct mail, there are multiple ways to reach your target audience and generate leads quickly.

But marketing is only one part of the equation. To truly establish yourself as a trusted advisor to the local community, you need to get involved and become a familiar face within that community. That means engaging in strategic community-based activities and building relationships with the right people.

By following these strategies and staying focused on your target audience, you can generate genuine seller leads that convert into signed-up sellable listings quickly. So, start implementing these tactics today and watch your business grow.