The following is an excerpt from my new book, 5-Minutes to Great Real Estate Marketing Ideas, Cengage Learning.  Early in my career I heard a retired real estate salesperson make the following statement:  “listing is existing!”  During my 29+ years as a real estate professional, I too can attest to this statement and how true it is to have a good listing inventory (products) as a real estate agent.  If you’ve never heard this before, believe me when I say that listing is the key to success and longevity as a real estate professional!

There are numerous ways to get more listings as a real estate agent as discussed throughout the text: for-sale-by-owners, expired listings, and many other areas.  This chapter will specifically deal with communicating to the seller on an ongoing basis once the listing contract has been signed and secured and your marketing efforts are to begin.  We’ll also discuss ideas and alternative marketing pieces that could be included with a listing presentation; however, the main objective and goal of this chapter is to provide resources to use for staying in touch with your client.

Ready to Market

After your listing contract is signed, it’s now time to begin the marketing efforts for your client.  In Real Estate 101, or any basic real estate pre-license course, the real estate agent learns the fiduciary obligations owed to the client.  A commonly referred to acronym used for these fiduciary duties is C.O.A.L.D.:

C—Care

O—Obedience

A—Accounting

L—Loyalty

D—Disclosure

Making sure that you have a good marketing plan for your client and a systematic action plan for staying in touch with your listing client during the listing period is big part of your fiduciary obligation to your client.  A good place to begin your new product and your job at hand is to familiarize yourself with a checklist of items you need to secure and follow-up on for your seller.  The following illustration details a sample checklist (also included on the enclosed CD-ROM) to use for this process.  Feel free to add or make changes to the checklist to use with your daily business.

Checklist for Agents after the Home Is Listed

•      Input data into Multiple Listing Service (MLS) or onto company forms.

•      Submit all forms and information to main office.

•      Upload all photos to MLS.

•      Input data and upload photos to company Web site.

•      Input data and upload photos to agent Web site.

•      Input data and upload photos to www.realtor.com.

•      Place for-sale sign on property.

•      Add flyer box in front of home.

•      Send sellers copies of documents.

•      Send sellers thank you cards or letters for listing  (see attached thank you letter).

•      If referral is from a friend, send a thank you card or letter (see attached thank you letter).

•      Prepare advertising copy (see 5 Minutes to a Great Real Estate Ad for more help with this).

•      Update any MLS or Web site remarks.

•      Prepare flyers for flyer box.

•      Notify top 20 agents in your marketplace about new listing (see attached letter).

•      Notify neighbors about new listing (see attached letter).

•      Set open-house date (if applicable).

•      Set agent tour dates with office or other offices (if applicable).

•      Install lock box.

•      Add information to your monthly letter you send to clients on your sphere of influence (SOI).

•      Send checklist titled “Now That Your Home is Listed” to sellers.

•      Set up a seller action plan for this listing.

Summary

Remember that staying in touch with your clients is an integral part of your job as a real estate agent.  You have a fiduciary obligation to your clients, and making sure you implement C.O.A.L.D. is important if you expect to win repeat business and referrals from your clients.

Learn how to create home-marketing books, postcards, flyers, and business cards for your clients to promote their property for sale.  And finally, educate your clients on what to expect when selling their home.  There are several reports included with my new book, 5-Minutes to Great Real Estate Marketing Ideas, Cengage Learning.  My new book is designed to help you explain the home-selling process to your clients that should help make your job a little easier.