For decades, previewing property has been an effective lead generation method that many real estate agents have systematically implemented to get new listings while developing superior market knowledge. By using these real estate scripts and techniques, agents will find that previewing property is one of the most cost-effective ways to rapidly grow a listing inventory with confidence. Although many top producing agents make this activity a part of their regular routine, it is also widely held that previewing property is the best way for new agents without a large client database to quickly gain business.
Benefits of Previewing Property
The benefits of previewing property are not limited to obtaining more listings. Real estate agents that make previewing property a regular part of their schedule develop an heightened understanding of the local inventory that enables them to quickly find homes for buyers that may not even be listed on the multiple listing service (MLS) like pocket listings, FSBOs, recently expired listings, and owners waiting to sell later. After previewing property, agents can respond confidently to questions in listing presentations about FSBOs, expired listings and other homes currently listed for sale. The level of confidence that an agent exudes after previewing property translates into instant local experience in the minds of prospective clients.
Consistently previewing properties also causes agents to meet many new homeowners daily and quickly develop large client databases that produce future business. Moreover, the fact that previewing property costs absolutely no money makes it the most cost effective lead generation method for growing a real estate agent’s business rapidly. Before examining the system and scripts for previewing properties, top producing agent Brad Baldwin explains how he regularly previews properties to grow his massive listing inventory in this video.
How to Preview Property
The process begins by searching the multiple listing service database for a group of 4 or 5 active listings located in a tight geographic area and scheduling showings to preview the homes for prospective buyers consecutively within a 2 hour window. Then pull up the addresses of all the expired listings in the same area for the past 12 months before heading out to view the active listings you have scheduled. After you view each listing, knock on the doors of 2 houses to the left of the listing, 2 houses to the right, and 4 homes across the street using the following script:
SCRIPT FOR PREVIEWING PROPERTY
“Hi! I’m John Smith with ABC Realty, and we’re trying to find a buyer for your neighbor’s home, which has 4 bedrooms, 2 baths and is priced at $220,000. Who do you know that would like to move into the area?” Obtain the contact information of any lead they may give you, and otherwise proceed with the script below . . .
“While we’re here, when do you plan on moving?” If they plan to move in less than a year, proceed with the script.
“How long have you lived in this home?”
“Where did you move from?”
“If you were going to move, where would you move to?”
“Would it be of benefit to know what your home is currently worth and be able to start previewing homes online on your own?” Then set an appointment to review comparison sales, set them up on a private MLS search, and list the property for sale.
Now Do The Math
While out previewing the active listings, be sure to knock on the doors of all the expired listings in the area. Also be sure to contact all of the For Sale By Owner (FSBO) homes as well. For each expired listing and FSBO home, knock on the doors of 2 houses to the left, 2 houses to the right, and 4 homes across the street using the same script provided above. So if you do the math, you will be making 8 door knocks per listing. If you preview 5 active listings, 2 expired listings and 1 FSBO, you will have previewed 9 listings in an afternoon. So 8 door knocks multiplied by 9 listings equals 72 total door knocks in a day. If you are able to knock on 72 doors, you will typically speak to 25 or 30 people you haven’t met in a single afternoon about their plans for moving and whether they know anyone looking to move soon. If you are able to repeat this activity systematically a few times per week, both your database and business will start to increase rapidly.