Homebuyers are having a moment.
Rising inventory, cooling home price growth, and modest breaks in mortgage rates have created the best market conditions for homebuyers in recent years — setting the industry up for what some hope will be a robust fall market.
At Inman on Tour Texas, Private Real Estate Collection Founder and CEO Heather Herr, Kuper Sotheby’s International Realty agent Bridget Ramey, and The Agency Dallas Founder Damon Williamson revealed tips for attracting homebuyers with knowledge and authenticity, as well as building a robust database that will yield results for years to come.
Be personable
The panel said being personable goes a long way in building relationships with clients, especially when they’re first-time homebuyers and are nervous about making one of the most significant purchases of their lives. Williamson said he likes to “disarm” homebuyers with a joke or quip — something that cools the tension and reveals his personality.
“I’m always cracking jokes and just making it to where they feel comfortable immediately,” he said. “It may not work for others, but it’s worked for me. I’ve always had this mentality of like, ‘What would I think when I’m walking in and meeting somebody for the first time?’ I want it to be easy. I don’t want to be too pushy.”
“There are a lot of agents in the business, in the market that I’m in, that put a little too much pressure on people to purchase houses,” he added. “Some of the best people that I’ve ever worked with, some of the most expensive clients I’ve ever worked with, have told me afterwards, ‘We just felt comfortable. You knew your shit, but we felt comfortable.”
Do the open house
Although open houses fell out of favor during the early-pandemic sales boom, they’ve come back into vogue as the market moves back toward a more normal sales pace. Williamson said open houses are his bread and butter, as it gives agents the opportunity to build their skills and sell homebuyers on their skills — not just the property being showcased.
“I’ve made millions of dollars in commission on open houses. I did this so many times over the years, and it’s residual,” he said. “So many of these people that you’ll find and meet in any way, shape, or form are going to use you if you’re impressed with how good your service was.”
“People are walking in, and it’s my job to actually sell them on myself and not sell them on the house that I’m standing in,” he added. “Lightning strikes. You will sell that house from time to time that you’re standing in, especially in a really good market.”
Leverage social media
When the pandemic locked the market down, Ramey said social media became her lifeline. The SIR agent invested in a full-time marketing director who helped her produce cinematic listing videos, which have transformed her business.
“That led to what I call the pretty, pretty property videos where I’m on camera introducing the house, telling the story of the house. We’d all watch the analytics and know that people want to hear from you. They don’t want to read anymore,” she said. “Buyers would reach out to me, and they felt like they already knew me. So, if they were unrepresented, we already had a connection.”
Ramey said she avoids making the videos “too trendy” and instead focuses on content that is “authentic.” Her marketing manager shares the videos on Facebook, LinkedIn, and TikTok and keeps track of responses so that Ramey can respond to potential leads in a direct message or comments section.
“And, more importantly, we’re reaching out to the people who are reaching out to me so that it increases the authenticity,” she said.
Don’t forget about portal leads
Although portal lead generation sometimes gets a bad rep, Herr said it’s been key to maintaining a complete pipeline for her team.
Herr said she’s worked with Zillow for 15 years and spends about $30,000 per month on leads. Despite the hefty price tag, the broker-owner said it’s worth it, as she constantly turns a profit.
“I decided not to do Flex because I wanted to choose my ZIP codes. I dominate supermarkets. Sometimes, I’m spending up to $30,000 a month, and I’m making more money than I’m spending. But I’m also feeding my team. And, that’s the thing. I don’t keep the leads myself.”
“When they take the calls, we have talks about it. We do meetings. We go over every single detail about it,” she said. “They still have to show up with that energy.”
Build a strong database by following up
Herr said having leads doesn’t matter much if you’re not tracking and nurturing them through a robust database. The broker said her team is constantly reviewing their leads and cultivating them with well-timed follow-ups based on where they are in their buying journey.
“We have weekly meetings with the team [about the database],” she said. “I’m making sure my team is disciplined. We’re constantly tagging in there. We’re constantly going through our leads. We’re cultivating them. We’re nurturing them and, knowing exactly where everybody is in our pipeline.”
Ramey also said it’s important to consistently reach out to clients and offer help, even after the transaction is done.
“I always say, I sell real estate. But, I really sell my city. So, when someone comes to me and they’re new to Austin, I immediately want to know who they are. Do they need a real estate? Do they need a reservation? Do they need a firehose? Do they need a housekeeper? Do they need a place to throw this great birthday party?” she said. “Listening to what they need and becoming invaluable is key. They need to know they can reach out to you at any point in time.”
