Bernice Ross

You have just taken a new listing and plan to market it directly to consumers in print, on the web and on social media. Almost no one, however, has a game plan to market to other agents.

If you want to stop leaving money on the table and get your listings sold faster, here’s a plan to reach the agents most likely to bring you an offer. And you can start with the agents in your own office.

Long before video walkthroughs or virtual tours became the norm, Jon Douglas Company pioneered a unique idea that led the company to dominate the market in Brentwood, Beverly Hills, Bel Air and Santa Monica, California in the 1990s: the “executive review.”

The purpose of these executive reviews was twofold – to ace out the competitors for the listing and to increase the probability the seller would set a realistic asking price.

In our office, the listing agent typically invited at least three top-producing agents to the session along with a manager or assistant manager. Each member of the team answered several questions about where the property should be priced, good points, as well as any issues that needed the seller’s attention.

Our executive reviews were extremely effective at converting these leads into signed listings, especially when we conducted them as part of the pre-listing process. Sellers were impressed that a team of agents showed up to help them, and even more so when they were introduced to a member of our management team.

If any members of the executive review team had a buyer that was a fit, the listing agent could leverage that as well by telling the seller that one of the agents was excited about showing the property to their buyer. Also, agents on the review team often knew other agents who had buyers for the listing.

Target the Right Agents

When it comes to marketing to other agents, identify which agents consistently list and sell homes in the area where the property is located. Also look for agents who have buyers searching in the same price range as your listing lead.

The next step is to identify which agents represent the buyers – not just the sellers – for properties located close to your listing. These buyer agents are your priority audience. They’re already dialed into local demand and are likely to have buyers that would be a good fit for your listing.

Pro tip: Create your own VIP email list of top buyer’s agents. When the listing agreement is signed and your listing is ready to come on the MLS, invite them for an “exclusive first look” at a specific time where they can drop in and preview the property without an appointment. Be sure to invite the agents from your office who have buyers as well.

Leverage Listing Agents with Active Buyers

If an agent has a listing in the same neighborhood as yours, they probably have a list of buyers who weren’t fits for their listing. Review their listing(s) to determine how yours compares. Then, if you have the listing agent’s mobile number, text them and ask if you can send over some information about the home.

Before sending this message, be sure you have prepared a detailed package about the property that includes top-quality photos, a short video walkthrough (easily shot on your phone), and a polished digital brochure. Your goal is to make it easy for these agents to get back in touch with previous buyers for their listing without spending time pulling data from the MLS.

Most agents appreciate having an edge that gives them easy access with their buyers prior to the first public open house. Best of all, this establishes you as an agent that they can trust and who is willing to work with them.

If You Feed Them, They’ll Come

Broker open houses where you serve food have worked for decades to motivate agents to see your listing in person.

Despite all the tech advances, nothing beats having agents walk through the door to view the property in person.

A well-attended broker open house means more feedback, more buzz and more buyer leads. As a bonus, it also shows your seller you’re pulling out all the stops to aggressively market their property.

Create a theme for your open house, such as “Brunch and Browse” or “Taco Tuesday.” Promote it aggressively through your agent network to maximize attendance.

Marketing to other agents requires time and effort, but the payoff can be huge: more offers, happier sellers and fewer days (and dollars) spent while your listing languishes on the market.

While other agents may be competitors when it comes to listings or on multiple offers, they are still your best source for locating the right buyer with the right offer for your new listing. Take advantage of it!

Bernice Ross is a nationally syndicated columnist, author, trainer and speaker on real estate topics. She can be reached at bernice@realestatecoach.com.