Coming soon strategies are the marketing and prospecting items you implement BEFORE a new listing goes into the MLS – these strategies are deployed primarily in tight markets with little inventory and low number of days on the market, but you can use this action plan on any new listing in any market to achieve the following goals:
- To create reverse days on the market for you to garner more business from your listings! Make time to work the listing before it actually sells.
- Sell the home yourself. There is less hassle for you and your listing client; and there are fewer showings, less prep time for your seller!
- Control your time by not having to hassle with multiple offers, multiple agents, lots of responses, etc.
- Save time and hassle during the escrow process.
Today we’re going to explain how, why, and when you should implement this for your listings to maximize salability & ensure your listings move fast and at top-dollar, as we cover the first nine key points below:
- Make sure you have permission from the seller to hold the listing off the MLS for a week to a month, prior to entering it. Some MLS’s have specific forms you must use. If not, read your listing contract; it says, “all addendums must be in writing and attached.” Have your seller sign that they wish to grant you pre-marketing time, with the listing going into MLS on a specific date.
- Install your Coming Soon sign either as a sign-rider on your normal sign, or as a stand-alone sign with your company name, your name, and simply your 1800HomeHotline number with a dedicated extension.
- Install your clear, weatherproof home brochure box next to, or on your Coming Soon sign. Use a simple, high quality, full color home brochure with multiple pictures, minimal text and your 800 number. Remember, the point is to make your phone ring.
- Hold a sneak preview open house for neighbors and friends only, prior to entering in the MLS. (You’re looking for listings here!).
- Canvas the neighborhood with your special, sneak-preview invitations for the neighborhood only. Door knock with your invitation in hand. Know all of the stats in the neighborhood so you can be the “neighborhood specialist.” This means knowing the average days on market, List to sell price ratio, current active listings, pendings, and sales. You should also know the current mortgage interest rates and special programs.
- On your invitations to the sneak preview open house, promote your raffle for a Starbucks gift card, dinner for two at a local restaurant, or football tickets; use whatever is appropriate for that neighborhood. (They will sign in using a raffle ticket.) Those tickets become your lead follow up. Several people can win your prizes.
- Follow up immediately on all open house leads. Remember many leads that seem like buyer leads are also listing leads. Script: “Which home in the neighborhood do you plan on selling?”
- Shoot a short, BombBomb video of your new listing and send it to your past client/center of influence email list, inviting them to your sneak preview open house. Ask whom they know that would love to purchase this home. Respond personally by phone to any responses to your email.
- Post your video on your online social media, Facebook, etc.