“It is not your customer’s job to remember you, it is your obligation and responsibility to make sure they don’t have the chance to forget you.” – Patricia Fripp
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Let’s face the facts here.
The market is unstable enough that the residential realtors out there no longer hold the power. There's skyrocketing referral fees you can’t afford, natural buyer hesitation you can absolutely count on during a time of high mortgage rates, inventory shortages, and steadily climbing list prices...the list goes on.
So, if your buyer walks away? You better run right after them.
It’s an era of reengagement, and it’s time to get on the train or join the 60,000 in your field that have already ditched their real estate roles within the first half of 2023.
Not sure how to win back clients that have given you the cold shoulder? We’re here to help.
We know there’s a variety of reasons why buyers may have second thoughts. Your job as the professional? Navigate how to get them back.
Getting your buyers back doesn’t mean forcing a premature sale. It simply means understanding your customers’ motivations and hesitations and doing your part to help them find feasible solutions (whether for right now or in the future).
So, let’s break it down and get started.
In this complete guide, we'll cover:
Coming off a turbulent 2023, 2024 has shown (thankful) early signs of stabilization.
Mortgage rates have gradually lowered, with percentages as low as 6.82% for 30-year fixed and 6.06% for 15-year fixed as of April 4th, compared with the astronomical highs of October 2023, which saw 7.79% for 30-year fixed and 7.03% for 15-year fixed.
There are nearly 5% more homes on the market than we saw in December 2023, and nearly 10% fewer homes are selling above list price. There’s an upward trend of more homes selling month-over-month (with over 3% more selling in February than we saw in January 2024), and homes are on the market an average of four days less than they were in February 2023.
Progress. That’s got to mean something – right?
While we can cheers to the fact that things appear to be heading in the right direction, don’t put those rose-colored glasses on just yet.
Home prices have remained high, climbing back up and to the right after a brief dip from November 2023 to January 2024. The median sale price nationwide is $412,095 as of February 2024, with this number lingering above $400K since March 2023.
And according to both Goldman Sachs and Freddie Mac, these prices are expected to rise.
The punchline? Relief for homebuyers isn’t here just yet.
But sellers are anxious. Whether tired of the waiting game or maybe just simply accepting things may be years from changing, we’re seeing a sharp uptick in new homes listed, with an over 19% increase since December.
What does that mean for you as a buyer’s agent?
It means it’s time for you to get out there and generate leads, and not just focus on those fresh to the scene, but also reengage those that may have stepped out of the homebuying process previously.
If a family needs a new home, they need a new home. And while we all want to wait until the perfect precise time to save our dollars and get the most bang for our buck – relocations, school years, and dips in mortgage rates wait for no one.
Seize your chance and start your prospective client conversations today.
Not sure where to start? That’s where we come in.
Before we dive into the specifics of templated scripts that’ll set you up for success, let’s talk about the connecting thread in all of the messaging we recommend.
It’s an approach we call T.O.R.N.
It drives all outreach we do, powering our efforts into efficient, kind, and targeted lanes, ensuring that the communications we choose to send is anything but ordinary, and doesn’t stand a chance at getting lost in the shuffle of spam inboxes, garbage cans, and trashed voicemails.
T – Targeted. The first step in powerful outreach? Knowing exactly who should receive your message. Your entire community isn’t searching for a new house – why treat them all like they are? To find prospects most in need of your services (and, therefore, those most likely to hire you), you need to get specific. Do your research proactively. Leverage public records data to determine who is either looking to move or are great qualifying prospects. Create segments of leads that share similarities. Have they resided in their first home for the past five years? They may be due for an upgrade. Do they have over 75% equity in their current property? You got it – also great contenders for outreach. By focusing on the similarities, you can mold your outreach to match, heightening your ability to personalize and raising the chances that these potential clients give you a much-needed reply.
O – Outbound. In the age-old marketing battle that rages between inbound and outbound methods, we’re firmly Team Outbound. Why? It’s most cost-effective while also being most predictable and giving you reliable outcomes that won’t be swayed by big business spend. We advocate for multi-channel methods to increase your visibility and effortlessly label you as the expert within your community.
R – Relevant. It’s the power of personalization at work. Relevant messaging means you’re crafting communication about the recipient, not about yourself. How many ads have you seen for realtors who are boasting about their awards, their years in the market, describing in every which way why and how they’re the best. Guess what…that’s not the most effective strategy. You want to target the unique issues your potential clients are facing and present solves that they need. You’re looking to help them buy a house – why would you be focused on anything else?
N – Neighborly. Don’t knock this until you’ve tried it because it may just be the most vital piece of the puzzle. We’ve all seen the overly aggressive, downright intrusive outreaches some realtors resort to. From inconvenient door knocking to targeted messaging without an ounce of sympathy for a prospect’s personal financial or housing circumstance. Do better. Be better. Show empathy and sensitivity, and remember that helpful support will always win more clients than menacing communications that put others against a wall. Demonstrate your value and remain conversational. You’re a neighbor! Act like it.
Now that we’ve dug into the importance of targeted, outbound, relevant, and neighborly messaging – let’s jump into the general guidelines of using scripts.
You’ve seen it before.
Someone reading directly off a PowerPoint slide. Someone rattling off an overly complex longhand via phone before you have a chance to speak. Someone speaking a template word for word – no inflection, no natural pausing – just straight monotone.
It’s so exciting and definitely makes you want to talk to them more, right?!
Wrong.
Scripts and templates can be extraordinarily helpful in preparing you for authentic, informed conversations. However, they should always be injected with personalization and natural word choices that feel most comfortable to you.
Having a conversation without it feeling conversational will get you absolutely nowhere. We promise.
So use scripts as a leaping off point, a loose instruction on general paths forward, but not something that must be followed to a T.
Why? Because we can’t prepare for everywhichway a conversation can go.
So you need to enter into every outreach highly knowledgeable, with a deep understanding of what you can offer at every stage. Get an early rejection? Know how you want to bounce back. A client isn’t qualified? Know how you should pivot and what you can provide them instead.
Most of all, you need confidence to navigate the unpredictability of conversations. Know that scripts are a guide, but not the rule book. Be adaptable and focus on keeping your conversations light, short, and just like a dialogue you’d have with a friend.
We don’t live in an overly formal society. So why should your outreaches feel forced and stiff?
We get it. Pitching yourself and the services you provide can feel unnatural, however, it’s an essential part of the real estate industry.
If you need to, practice in front of a mirror. Play both sides – client and agent. Practice your responses to the stickiest of scenarios, as these tend to rattle our nerves the most. NAR recommends one to two hours a day until you’re comfortable.
Want a trial run? Start your outreaches in small batches via phone and text messaging. See what works and what doesn’t, and what situations prove the most difficult to navigate. Once you have that understanding, you can better prepare for future conversations.
Looking for options to jumpstart your conversation? We’ve rounded up the best of the best.
Now remember, use the below scripts as jumping-off points. Always add necessary personalization and adjust the wording to resemble your natural speech.
To make customization even easier, we’ve broken these apart into differing sections, depending on where you’re at in the conversation. Build your perfect dialogue guide by mixing and matching the blocks below.
“Hi {first name}. It’s been a little while. I hope you’re doing well. Last time we spoke, you were planning to buy a home soon. Were you able to find that perfect place for you, or is that still in your plans?” – Jimmy Burgess, Inman
“Hi {first name}. I was just thinking about you! In fact, I’ve been meaning to call you and decided today I needed to pick up the phone and actually do it. How are things going?” – Kevin Ward, Medium
“Hi {first name}, this is {your name} and I work with {brokerage}. We were in touch about {X# months} ago when you were considering listing your current home and moving into something better suited for your growing family. Did you make that jump?” – Brittany Ryan, Follow Up Boss
“Hey {first name}! I’m {your name}, I hope you remember me. We met at {destination of first contact}. I hope you’re doing good. Last we connected, you were interested in buying but weren’t sure if now was the right time. We’re seeing the market shift, and I’d love to chat about how this could be the perfect moment to act. Do you have two minutes?” –Deskera
“Hi {first name}. Thanks again for taking a minute to chat with me on {date you last connected} about buying a home. I’m sure I can help you find one you will love. I just have a couple of quick questions to help you identify the right listings to send to you if you’re still in the market to purchase.” – Zillow
“Hi {first name}! I wanted to circle back and see how you were doing. I know we paused the home search last {month you last connected}, but with more inventory on the market in {buyer’s dream neighborhood} and lower mortgage rates, I wanted to see if now may be the right time to contemplate picking the search back up. Especially before {rates go back up/the school year starts/personalized event in buyer’s life}. Would you mind if I sent a few listings over just to see what you think? – PropertyRadar
“I completely understand the hesitation. It’s a big decision, and there is a lot to think about. What I can do is set you up to receive the occasional email with listings similar to what we discussed in the past. If you see something you like, just shoot me an email back and we’ll act quickly. The market has changed, and we want to take advantage of these lower rates while we can.” – Zillow
“Why don’t we start with seeing a few listings. But first, I want to make sure I’ve found the right ones for your price range. Have you spoken with a lender about getting pre-qualified? With these lower rates, now may be the perfect time. I have a great lender whom I partner with. May I give her your email address so she can contact you?” – Zillow
“No need to sign on the dotted line just yet. First, let’s evaluate if now is the right time for you. I’d love to chat about your ideal price range, opportunities in your area, and share a little research I’ve done for past buyers. No obligations at all. Do you have five minutes? We can chat now, or we can find time for me to stop by. What works best for you?” – PropertyRadar
“The good news is mortgage rates are down. The bad news is we aren’t sure how long that will last. We want to find that perfect window of opportunity to get you the best deal while still not waiting too long and missing key inventory. I’m going to send a few listings over. Take a look and let me know if anything stands out.” – PropertyRadar
“I’m happy we’re reconnecting, as spring and summer are peak times for buying and selling. More and more homes in your {buyer’s dream neighborhood} will be hitting the market, and we want to be ready to act fast. While you’re on the line, let’s confirm your ideal price range and talk lenders.” – PropertyRadar
“I wanted to let you know you know that we’re seeing more homes hit the market in your area, and many are {selling for under list price/selling quickly/beautifully remodeled/personalized addition}. If moving is still something you see on the horizon, we may need to act quickly to get you the best deal on your current home, and into one you love.” – PropertyRadar
“I let you know I’d circle back when I saw shifts in the market, and I’m happy to report things have made a turn for the better. Lower rates mean a better deal for you, and I’m anticipating more inventory in {buyer’s dream neighborhood}, especially as we get closer to late spring and summer. So let’s chat timeline.” – PropertyRadar
“Would you be open to seeing a few homes this weekend?”
“No obligation to move forward, but let’s stop by one or two homes this weekend if you have thirty minutes. I want to show you some of the newer inventory available in {buyer’s dream neighborhood} that’s going quick. If you love something – great! We’ll act fast. If not, we can note aspects that you like and things you don’t so we know more when the time is right for you.”
“Let’s book time to connect this weekend. What day works best for you?”
“I’d love to chat more about what you’re looking for and the timeline that works best for a move. Do you have ten minutes tomorrow?”
“Homes are selling in {timeline of sales in buyer’s area}, and I don’t want you to miss out on your dream home. I know moving is still something you’re looking ahead to, so I’d love to take you to see a few spots nearby this weekend. Just to get a gauge on if now is right for you.”
“Totally understand – not a problem! I’ll keep you informed of any further market changes or if I spot something you don’t want to miss. If things on your end change before that, don’t hesitate to give me a quick call or shoot over an email.”
“Definitely not here to rush you. I’ll be available whenever you’re ready.”
“Of course! We always want to wait until we feel ready. Moving is a big adjustment! If you have any questions as you prep for that time, feel free to give me a quick call, and I’d be happy to talk through any market changes we’re seeing in {buyer’s dream neighborhood}."
“Understood. I want the best for you {both/and the kids/and your family}. Let me know when you’re ready and we can pick the search right back up!”
Want to go into these conversations prepared and knowledgeable? You need the data.
And not just any data, you need the right data.
Not data that is instantly antiquated as soon as it’s purchased, never to be updated when the market shifts, when properties sell, when prices rise, or when new homes open their doors to eager buyers.
You need data that’s multi-sourced, back-tested, back-filled; complete with modern data models and high-functioning algorithms. You need data with its own dedicated research staff constantly working to cleanse and enhance the information available to you.
You need data acquired daily, accompanied by criteria-based targeting, natural language processing, machine learning, and data visualization. You need data that is presented in a clarified format – with an approachable, seamless UX design to ensure you get the most out of what’s presented.
You need data that will work for you.
You need PropertyRadar.
We’ve been hard at work since 2007, making public records data usable and making it work for you. We’re dedicated to providing the best-in-class information to propel you to success, while ensuring accuracy, timeliness, and in-depth insights at every turn.
That’s right. With our cutting edge platform, you can create lists of properties and property owners, turn on monitoring, and your list will be automatically updated with adjustments to your saved properties, or when new properties become available that match your criteria.
Not only does this mean you stay extremely knowledgeable about properties within your area, but you can also effortlessly keep track of potential buyers and those who may need your services later.
Better yet? If you have buyers who are unsure of stepping into the market and trying their luck at buying right now? Create lists that match their price range and property preferences so you can be the first to notify them when something hits the market that could change their mind.
It’s all in a day’s work for PropertyRadar.
Get started now with a free PropertyRadar trial, and reengage your buyers with data-driven insights and targeted messaging.