My Foray Into a 4 Unit Part II

I have been teaching this for years…but every now and again you need to sit down and reexamine your situation.

My situation is that I haven’t had to use the MLS, IMAPP or any of that stuff for years so I am having to relearn it as I go!

Here is the thing that I do know! There are only three (yes, 3 count ‘em) major complaints you’ll ever hear from a Seller.

I listed my property and never heard from the agent again!
I have no Idea what they are doing…if anything!
I don’t think they advertised my property at all!

Back in the last century, I kept hearing that over and over again and decided to come up with a plan. And like just about everything else I made a workshop out of it to render the process transferable.

I called it the “8 Secrets to Maintain More Listings, Satisfy Sellers, and Cash More Commissions Checks” I even put together 40 Listing Retention Letters. That list has now grown to nearly 60 letters.

Here’s what I do.

When I first take a listing I get back to the office and print out and mail the Broker’s thank you letter. The letter is pre-written and formatted and saved on my computer with the brokers scanned signature. That way I can get the letter out quickly and don’t have to chase my employing broker to get an autograph.

I send the letter out “snail mail”. Why? Well, in the real estate business perception is reality. By sending it “snail mail” you make it real, tangible, something that really exists. Think about it how many emails do you get a day…how many do you delete without ever reading. How many of you are like me…I get going on a “delete-fest” and sometimes I get out of control. I delete stuff I should have looked at, but I figure if it was important enough they’ll send it again.

I have my first week of activity done…and memorialized! The Seller gets the letter and sees that I am working on their behalf and everyone is happy.

But wait there’s more…

I have another letter called the Sales Managers Thank you letter and guess who that comes from? That’s right my Sales Manager. The letter is different than the Broker’s thank you letter but you get my point. It’s Wednesday and we have our sales meeting at which I present my new listing to all of my fellow agents in the office. I have a letter for that. I put it in the MLS, I have a letter for that. I put the listing in LoopNet I not only have a letter for that but I include a copy of the LoopNet listing for them to see.

I have letters for about 50-60 different activities that I use when marketing a property. Everything from the Boards Commercial Roun table, to the CIMLS, Craigs List, Twitter, Linkedin, you name it I got them.

But before you start getting nuts…let me give you some advice. First, don’t do them all in one week. You’ll drive you Seller nuts with a “phone” books worth of letters and ads. Do one a week I recommend Friday, that way you can summarize all that you have done for them during the week.

Second, Do not, DO NOT, DO NOT…rely on email I can assure you that they will not be received, seen, or remembered. Send them “snail mail” this is one of those occasions where using stationary and letterhead is to your advantage. Make it habit at the end of the day Friday to get you Listing Retention Letters out.

Third, and finally, do not stop…unless and until they tell you to! In 35 going on 36 years in the business, I have had only 3 people tell to stop sending them updates. So I did. Here is the reality, unless you are under instructions from your principal or broker you don’t stop marketing until the property has closed. If you haven’t had a deal blow up in due diligence you will, and if you have stopped marketing guess what…your already weeks behind.

If you would like a free copy of the EBook and the preformatted Listing Retention Letters click the link below…remember to take my name off them and change the address and logo before you use them.

Click the link below for the free Ebook and Listing Retention Letters.

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