If you’ve been a buyer’s agent for quite a while, it can be scary to make the jump to listings. But you’ve probably seen the added benefits of representing sellers and you feel like it’s time to make the move. So how do you start? Here are some tips.
Shadow a listing agent. Just because you’ve been practicing in real estate for a few years, doesn’t mean you’re an expert in every segment of the industry. Shadow someone who has a proven track record with listings and sellers. See how they interact, how they sell themselves during listing presentations, and how they manage their negotiations and transactions.
Understanding the different nuances of this side of the business will be crucial to your success. And because the nature of the business involves a lot of cold-calling, you’ll want to see how the pros manage their objection-handling.
Use your network. Reach out to your sphere. All those past clients that you’ve previously helped to buy a home? They’ll inevitably sell. If you previously referred their selling business to a listing professional, it’s now time to take it on yourself.
If you’ve only been representing buyers for a couple of years, you’ll typically start to see that they’re interested in selling once they’ve been in their home for several years. The key is to keep in touch with your sphere so, when the time comes, they reach out to you for any future real estate needs.
Call FSBOs and expireds. Many veteran listing agents no longer do this because they profit nearly completely from past clients and sphere referrals. Many agents are also intimidated by picking up the phone and cold-calling.
This is your opportunity. Get out of your comfort zone, familiarize yourself with solid scripts, and reach out to those individuals who are having trouble selling on their own or who have had a bad experience with another listing agent. Since you’re new to listing, selling yourself will be harder, but having confidence and in-depth market knowledge will help.
Just like it took time for you to build your buyer’s agent business, it will also take some time to develop your reputation as a listing agent. With a little hard work, perseverance and commitment, however, you can stop driving buyers around so much, and focus on the staging and marketing aspect of the business.
Liz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas at firstname.lastname@example.org.