In real estate, the market is a constant rollercoaster of ups and downs. There’s another important aspect of real estate success that we must discuss—how to retain these listings until they finally find their new owners.
In many parts of the country, properties come and go in the blink of an eye. They’re listed today, and tomorrow they’ve got a “Sold” sign slapped on them. But let’s not forget that real estate markets are diverse, and what’s true in one region may not be so in another. In luxury areas across the United States, homes priced at over $5,000,000 are known to linger on the market for a year or more. Now, this isn’t a cause for concern, but rather an opportunity. Those high-end properties will sell, and you want to be the one holding the listing when they do.
In my local market, it’s not unusual to see listings that have been active for a year or even longer. So, the million-dollar question (or should I say the five-million-dollar question) is, how do we keep sellers with us until they sell? The answer is simple yet profoundly significant—communication.
Communication in Real Estate
Communication is the linchpin of success. It’s the glue that binds us to our clients, the bridge between sellers and buyers, and the key to keeping your listings until they find their happy new owners.
When we talk about turning a show slip into a marketing confirmation form, we’re not merely dealing with semantics; we’re talking about a shift in mindset. A show slip is typically a record of the property showings. But it can be so much more. It can be your opportunity to keep your sellers informed, engaged, and confident in your abilities as their real estate agent.
Why a Show Slip Should Be a Marketing Confirmation Form
1. Documenting the Experience: As a real estate agent, you’re privy to the unique features and charm of each property you represent. Use the show slip not just to record who visited the property but also to capture the essence of the experience.
2. Highlighting Feedback: Beyond the basic logistics of a showing, encourage your clients to share their feedback, questions, and concerns about the property. This feedback can be invaluable, not only for your sellers but for you as well.
3. Reinforcing Confidence: By transforming a show slip into a marketing confirmation form, you’re giving your sellers a constant reminder that you’re actively working to market their property.
Organizing, Storing, and Sharing Marketing Confirmations
To effectively execute this concept, you need a system to organize, store, and share these marketing confirmations with your sellers. Technology has made this task much more manageable. Consider using a secure cloud storage solution where you can keep all your marketing confirmations easily accessible. Share them with your clients regularly, and encourage open discussions to address their questions and concerns promptly.
Retaining listings in the real estate market, whether they sell quickly or take some time, is a matter of constant communication and proactive engagement. Turning a show slip into a marketing confirmation form is a powerful way to demonstrate your commitment to your clients and their properties. By documenting the experience, highlighting feedback, and consistently communicating with your sellers, you’ll not only keep your listings but also enhance your reputation as a trusted and effective real estate agent.
If you have more questions about breaking into the luxury market, don’t hesitate to reach out or consider joining Luxury Real Estate Unplugged!