There is a major difference in the results that you will get from quality listing stock versus everything else that you may list. Quality listings create greater volumes of enquiry from people that would otherwise hold back from displaying their property needs or intentions.
Property listings take effort and commitment if you want to build market share. Look at your listing stock. Ask yourself these questions:
- Do you have too many uncontrolled listings? Open listings can be a waste of effort and certainly will not help you with growth of market share. Yes, you may convert a deal from an open listing, but the clients in such situation are listening to other agents are not fully committed to you through the marketing phase. Negotiations on open listings can be very slow and tough.
- Do you have the types of listings that encourage inquiry from the market? Some listings in a town or city will attract lots of inquiry from buyers or tenants. When you track and measure the inbound inquiry coming to your brokerage office you can understand the best types of properties to list.
- Do you have ‘fresh’ listings or ‘old stale stock’? It takes about 2 or 3 months for a listing to become ‘stale’. The only way to keep it fresh is to change the advertising and marketing strategies as well as the price or rent. Cooperative clients are required to participate in the process.
- What is your signboard presence like in your listing territory? The numbers of signboards that you have on exclusive listings locally will be of importance to the enquiries you want from your market. People drive around the area they are interested in and will call you from a signboard.
- What is your internet presence like? Your listings online should be regularly refreshed and re-written. Give the search engines something different to see by changing the listing copy once every 2 weeks.
Simple questions like these are too often forgotten. If you want to create more listings and commissions, you must focus on the basic rules just like these above.