WDFS Prospecting
Are you short on properties to sell?
Are listings tight where you are?
You could consider approaching properties that have been withdrawn from sale in the past.
I have started real estate offices in brand new areas, where we knew literally nobody.
Withdrawn-from-sale properties were our number one source of listings.
The reason they are the best, ESPECIALLY if you are starting out as a salesperson or starting out in a new area, is that you know these people have been interested in selling previously.
You also know what price they had the property listed at.. (it takes away the pressure to try to work the price and it gives you a baseline to compare other similar properties).
When another agent’s for sale sign goes down, there are a few reasons why it has –
- The property has sold.
- The sellers haven’t sold but their circumstances have changed – they may not want to sell at the moment.
- They had a bad experience with an agent and they are going to look for another agent.
- They have decided to lease the property.
- The owner has decided that they don’t want a sign.
- The agents’ sign fell down or blew away.
Why prospect WDFS properties?
- You know they were in real estate mode – They could be re-engaged.
- The beauty of properties where the sign has come down, or they have been withdrawn from sale, is that you have all the details of the property online – photos, the price they were listed on the market, etc.
- You know all about the property before you contact the seller.
You should also monitor exclusive periods.
You can monitor the exclusive periods – depending on your area if exclusive periods are normally three months, six months. Etc
Then watch for signs to go down.
The objective is to get in the door to do a listing presentation and list the property.
If they HAVE sold, ask them if you can help them buy something.
If a seller says they are still under an agreement – apologise and thank them for the time and walk away.
Note – Some agents will door knock a property that still has a sign at the front.
In The Real Estate Club we have a course called Gazillions Of Ways To Get Listings – there are over fifty ways to prospect for listings. We teach you how to find your own listings so that you don’t have to knock on other agent’s signs.
Everyone is different and every area has different expectations.
Personally, I would never approach a property if I knew that it’s still listed with another agent.
WDFS / Sign Down Strategy Involves –
Building relationships – The sellers may not come onto the market straight away. However you can inspire them and possibly get them enthusiastic about coming back onto the market and to list with you,
Building relationships with them as future sellers.
Going to see the owners of the withdrawn-from-sale property – doorknock
Send a letter/ card.
Following them up.
If you would like to know more about prospecting, marketing and building a personal brand, please go to www.TheRealEstateClub.com.au.
Here you will find a free workshop and business plan.
Some videos you might like
Free Real Estate Training
What technology should real estate agents be using?
How to use technology to list and sell property in 2023
How to use technology offers through to settlement
Spencer lodge – sales and closing
