Real Estate October 11, 2024

Realtors – Do You Want More Listings?

How to Get More Listings: Insights for Cleveland Realtors from Mike Ferrante and Tony Geraci

In today’s real estate market, one of the most pressing questions for agents is: “How do I get more listings?” As real estate professionals, we know that listings are the key to scaling our businesses, especially in a competitive market like Cleveland and surrounding areas.

Today,  Mike Ferrante, Team Leader of the 21 Mike Team at Century 21 HomeStar and Tony Geraci, Broker/Owner of Century 21 HomeStar, are going to dive into the numbers behind where sellers are finding the agents they work with and what you can do to position yourself to capture more listings.

Understanding Where Sellers Find Their Agents

Let’s start with the data. A recent study by 1000 Watt revealed where sellers are finding the agents they work with, and the results might surprise you. If you want more listings, it’s crucial to understand these numbers and adjust your strategy accordingly. Here’s the breakdown:

  • 43% of Sellers found their agent through their sphere of influence—either a friend or family member (9%) or a referral from a friend or family member (34%).
  • 28% of sellers found their agent through online reviews and research.
  • 15% used an online agent matching service, such as HomeLight or Movoto.
  • 7% were influenced by marketing or advertising like billboards, bus ads, or shopping cart promotions.

Sphere of Influence: 43% of Business

Your sphere of influence is still the biggest source of business. 43% of sellers either found their agent through a referral or worked with a friend or family member. The takeaway here is simple: you need to stay top of mind within your sphere.

Many agents fail to keep in touch with past clients or their network. And here’s a striking stat: while 80% of clients say they would use the same agent again, only 20% actually do. Why? Because most agents do a poor job of staying in touch.

To combat this, create a client outreach plan:

  • Regular phone calls to check in with past clients.
  • Host client appreciation events—like a Pie Day or neighborhood BBQ—to stay connected.
  • Send quarterly newsletters or updates with market insights or personal milestones.

If you’re not nurturing your sphere, you are leaving listings on the table.

The Growing Importance of Online Presence: 28%

In today’s digital age, having a strong online presence is non-negotiable. 28% of sellers found their agent through online research, including reviews and transaction histories. So, how do you build this presence?

  1. Create and Optimize a Google Business Page: Make sure your Google My Business page is complete and active. Ask past clients to leave reviews—positive reviews go a long way in building trust with future clients.
  2. Reply to Reviews Using SEO Keywords: When responding to reviews, use local SEO keywords like “top real estate agent in Cleveland” or “best listing agent in Northeast Ohio.” This helps you rank higher when people search for agents in your area.
  3. Leverage Social Media and Video Content: Whether it’s TikTok, YouTube, or Instagram, video is now the number one form of content people consume. Showcasing your personality and expertise through video helps you connect with potential clients on a deeper level. And don’t overthink it—most of my videos are done on my phone. Authenticity goes a long way.

Online Agent Matching Services: 15%

If you’re not signed up with agent matching services, you are potentially missing out on 15% of listings. These services, like HomeLight and Movoto, match sellers with local agents. Sign up, pay a referral fee when a deal closes, and start getting more opportunities. It’s a low-risk way to boost your business.

Traditional Marketing: Only 7%

Lastly, only 7% of sellers were influenced by traditional marketing or advertising. While it’s important to stay visible with signage, direct mail, and ads, it’s clear that focusing on your sphere and online presence yields a better return on investment.

Final Thoughts: Listing Strategies for Cleveland Realtors

If you’re a real estate agent in Cleveland or Northeast Ohio, it’s clear that the bulk of your efforts should be focused on two things:

  1. Nurturing your sphere: Reach out regularly, and have a clear plan to stay in touch.
  2. Building your online presence: Get reviews, respond with local SEO in mind, and create content that speaks to your audience.

As Tony Geraci and I often say, real estate is a marathon, not a sprint. If you take the time to build relationships and enhance your digital footprint, you’ll position yourself to capture more listings in the long run.

For more tips and training, subscribe to our YouTube channel, and if you’re in Ohio, check out 21mike.com for more resources. Thanks for joining us, and let’s go out and get those listings!

 

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