Having a better strategy is the key to winning in any sport—and this is especially true in real estate sales. If you want to capture more of the market share, you and your team’s focus needs to be on implementing a strategy to dominate the listing market. You can truly increase your market share numbers in a given community by executing this plan with your team. When you are focused on this plan and get the buy-in from your agents, anything is achievable.
Here are some proven methods to increase your market share quickly and effectively:
- Focus on listings in a specific zip code. When we are hyper-focused on a particular goal, great things happen. Determine the zip codes or subdivisions in a community that you want to increase your team’s market share. Track it. Study it. Measure it. Get a plan to increase listing opportunities in that location. Have a meeting with your team to brainstorm ways to generate more appointments and opportunities.
- Focus on open houses. The open house is still the best lead generating tool to increase listings and sales in a neighborhood. Your team can meet prospective buyers, and more importantly, potential sellers for listing opportunities. When done right, an open house is an effective way to generate listing leads. Focus on holding open houses where move-up buyers would attend and close more listing appointments during the open house. This strategy can double or triple your team’s sales, as they will be capturing the leads and converting them during the open house. Many agents can make $50,000 – 100,000 from one open house by implementing this strategy. Look at open houses as a listing lead generator, not just an activity to make the seller happy. This will generate results and turn into listings, sales, income and increased market share.
- Sell 3 – 5 sales from every listing and sale. There are so many ways to generate two, three and even five or more listings and sales from every sale. Instead of just putting up a sign and putting the house in the MLS, maximize that listing to create other spin-off businesses. Call the neighbors, send just listed cards, open house invitations and offer a price equity opinion to all the neighbors in the neighborhood. This connection will result in business immediately or in the future. Working the neighborhood to let them know the new neighbors, the selling price and to just be front and center will result in referrals and future business, positioning your agents and your team as the experts in the neighborhood.
- Set and track weekly and monthly goals. When you set the increased goal amount, post it where everyone can see it, then track it weekly and monthly. Determine the number of listings each agent on your team needs to hit for the team goals to be met. By monitoring the progress, you will be gaining traction and momentum. With these small wins, more energy and focus will be given toward the initiative. Consistent, daily focus on the goal will create results, and the results turn into contagious success. Agents will see their efforts turning into appointments, listings, sales and income—and the overall team goal of increased market share will go up, up, up.
- Track your progress. Give your team the starting numbers of where your market share is at the beginning of this initiative. Track each month’s successes and communicate these numbers with your sales team so they see that their efforts are working. This will continue to motivate and drive your team to even greater commitment and success. Don’t be afraid to have a wildly crazy increase in percentage goal. You can increase 10% – 25% if you are focused and your team is onboard with the goal. Everyone wins and overall, your team becomes No. 1 in market share, which is the greater indicator of who the consumer chooses every day to trust with their real estate needs.
- Display and advertise your results. As you are increasing market share numbers in your communities, shout it from the mountain top. Be strategic and post the increases and percentages on social media and share the good news. Printed postcards that show market share are very effective and make for great farming projects. Include your market share statistics on your digital marketing and website and also in your marketing and buyer presentations. Sharing your increased market share will give your team an offensive, powerful position in radically differentiating your team’s exclusive and proven services.
With a simple, yet executable plan to increase your team’s market share, you can and will get the results you desire. But you have to lead this, and with consistency, keep the goal top of mind. Help your agents win every listing appointment they go on. Help them consistently follow up and convert the opportunities they have into listing appointments that will turn into more signs in more yards with more happy sellers and ultimately more production and increased sales from your team. You can implement a plan to increase your market share and own it. Start today and let us know how we can help you achieve greater sales success with your team.
Download and review my Agent Podcast, “YouROCK! a Real Estate Sales Podcast with Sherri Johnson” at www.sherrijohnson.com/yourock with over 200 episodes including action packed strategies for helping your team make another $100k in the next few months. Also, download Sherri’s Exclusive GoldMine Pipeline™ Strategy to get your agents closing more leads into listings, sales and ultimately income. This system can double their production, fast! Go to www.goldminepipeline.com for my Free EBook and the Worksheet! These are just a few of Sherri’s proven and exclusive leadership and development strategies that produce amazing results quickly. For more information about Sherri’s exclusive turnkey, team solutions to scale your team, contact Sherri Johnson at www.sherrijohnson.com/onetoone for coaching plans.
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Sherri Johnson is CEO and founder of Sherri Johnson Coaching & Consulting.
