Real estate is a people business.
And just as multifaceted and unique as the people are down your block, within your neighborhood, throughout your city – no two individuals and their housing needs are the exact same.
Everyone needs something different, wants something different, and can afford something different.
And if there’s one resounding truth to how you approach your day-to-day as a realtor, it’s this: there’s no one-size-fits-all approach to getting all of your clients exactly what they’re looking for at the end of the day.
However, every realtor needs that fundamental starting point. That knowledge base that helps to kick off the process and allows buyers to understand what may be perfect fits to their lifestyles and needs.
New parents may need room to grow into and high-ranking school districts.
Empty nesters may want a quiet neighborhood with high walkability.
It’s all about an invaluable dual approach: balancing our own community expertise, knowledge, and recommendations with the unique preferences and customization our clients require at their core.
And with this dual approach, we see the person behind the purchase.
We aren’t buying for a caricature or a dollar sign.
We’re buying for the relocators who are new to the neighborhood and seeking community and friendship before the start of the next school year. We’re buying for the long-time renters, the military families, the young professionals, and the best friends. We’re buying for the expectant downsizers, the first-time flippers, and the on-a-budget newlyweds.
We’re buying for those moving on up, moving on out, and those finally ready to settle down and call these four walls and plots of land their very own.
So let’s bring both to the table: our knowledge and preparedness as to their potential needs and an unwavering ability to listen and prioritize those things that are of the utmost importance to them.
And that all begins with how we communicate: the questions we ask and the personalization we offer.
So let’s break down just how to do that: how to prepare for different segments of buyers you’re likely to encounter and how you can blend your individual expertise with their unique wants and needs.
In this quick guide, we’ll cover:
Remember when we said real estate was a people business? Yeah, we meant it.
And the fundamental aspect of people business? That’d be relationships for 300, Alex.
Building relationships – both professionally and personally – takes work. And it all starts with communication and the overall importance of message.
As a realtor, you’re a community expert. Not just in the properties and opportunities across your neighborhood but also in the people, lifestyles, and businesses that make your vibrant region the unique destination that it is.
Therefore, your communication should always be relevant and neighborly. Gone are the days of invasive, sales-driven, generic messaging. You don’t approach personal relationships this way, so why should this type of communication be the backbone of professional relationships?
It shouldn’t.
Looking for a map to guide you on community-driven communication fundamentals?
You got it with T.O.R.N.
T.O.R.N. stands for Targeted, Outbound, Relevant, Neighborly, and regardless of what kinds of buyers you’re supporting, this approach could be the unlock to your next sale.
Not only is this strategy applicable to initial cold outreach and building your roster of leads, it retains necessity throughout each and every conversation you’ll have with your customers.
Let’s break it down.
T – Targeted. Be specific in who you’re reaching out to. In your initial outreach, leverage public record data and cutting-edge real estate tools to create lists of prospects that share core similarities, which will allow your approach to feel customized and non-generic. As you continue ongoing conversations with interested parties, make sure you’re narrowed in on the right houses and opportunities for them and their unique needs specifically.
O – Outbound. We promote outbound methods as they are not only cost-effective but can be highly targeted if done correctly. This can allow your messaging to feel personalized and greatly increase its chances of success. For initial cold outreach, remember to utilize an omnichannel approach for high visibility within your community. Phone, email, direct mail, and digital advertising are all terrific avenues to meet prospective customers where it’s most convenient for them. Conversation already started? Don’t sit on your hands. Have new listings to show? Be the first to reach out. Checking in? Pick up the phone. Haven’t heard back? Be the initiator of conversations in order to showcase your willingness to get the job done and get it done right.
R - Relevant. Perhaps the most important aspect of our acronym, relevancy equates to personalization. Meaning your questions, your suggestions, your recommendations will be thoughtfully considered with that individual buyer in mind. You want to strive for messaging perfectly suited to a specific recipient. You’re supporting them and their unique circumstances. Know your audience, find out what’s important for them, and use your background and the insights at your disposal to find the perfect solution.
N – Neighborly. This is the humanistic approach to relationships we need to continue to prioritize in the real estate industry. Always lean into kindness and empathy wherever possible. House hunting is hard! Moving – regardless of circumstance – is an emotional process (while we also know certain situations can make it downright heartbreaking). Separate yourself from those who only see the bottom line. Don’t be aggressive, and do take no for an answer. Be a team player in how you outreach and in how you nurture conversations through each step of the process. Consider how you can go above and beyond, how you can be a good neighbor, and remember to extend the kind of support you’d want back to your client.
Want to know how to support first-time homebuyers? We’re here to help.
First, let’s chat common traits and characteristics according to the National Association of Realtors:
Remember, the above reflects averages, not the whole picture. There are first-time homebuyers who will absolutely fall outside of these traits. This is simply meant to aid you in beginning intentional, targeted searches toward prospective buyers who may need your support.
Other defining factors to keep in mind?
Looking for more information to help you succeed with first-time buyers? Check out our advice on winning big with inaugural purchases.
There’s a lot more to supporting downsizers than simply looking for a smaller home. Many are looking for certain features and residences that can support them as they age.
Something vital to consider? The fact that many hopeful downsizers are actually stuck in larger homes due to tight inventory, high list prices, and skyrocketing mortgage rates. Make sure you’re not moving your clients at an inopportune time that will put them in a place of financial strain later.
If they are in a waiting pattern, consider tackling the following to-dos in the meantime:
Expanding families are looking for a whole lot more than just more space. They’re looking to build memories and invest in functional surroundings.
Other factors of importance?
Supporting relocating buyers means you are now the portal into their new community. Yelp can only take them so far, and they’ll be itching to know the best schools, top-rated businesses, and all of your recommendations.
How do you stay on track?
Flippers can range from those seeking secondary property for the very first time to those thoroughly experienced fix-and-flip investors. The first step to personalizing your approach? Know which your buyer is.
Why? Experienced flippers may be open to bigger projects. This opens your search to include vacant homes, distressed properties, short sales, and foreclosures.
However, regardless of whether this is your buyer’s first or fiftieth flip, come prepared with the following:
With the answers you need from your buyers, you can dive into finding them the perfect property.
How do you increase your chances? Be targeted and find inventory before anyone else.
An easy way to make that happen?
With data-driven lead generation solutions, like PropertyRadar, which offers expansive information on over 150 million properties nationwide. Better yet? Get neighborhood comparables, in-depth community information, and more to set up yourself and your buyers for success.
Another perk of this revolutionary platform? You can seek out targeted segments of individuals that fit into the above categories, kicking off personalized conversations to see if they need your services (which many definitely will). This helps you sneak by the competition in an already competitive market, winning opportunities before certain buyers have even considered looking.
If you already have a PropertyRadar account, you can follow the guidelines below to add the necessary criteria to your searches:
First-Time Homebuyers: "Search > Quick Lists > Realtor > First Time Buyers"
Downsizers: "Search > Quick Lists > Realtor > Downsizers"
Expanding Families: "Search > Quick Lists > Realtor > Move Up Sellers & Buyers"
Flippers: "Search > Quick Lists > Realtor > Flippers"
Looking for properties for your existing client flippers? Try any of the following:
"Search > Quick Lists > Realtor > All Foreclosures"
"Search > Quick Lists > Realtor > Preforeclosures"
"Search > Quick Lists > Realtor > Vacant Homes"
"Search > Quick Lists > Realtor > Potential short sale listings"
Relocators will primarily find you, so the best step you can take to attract this type of buyer is to cement yourself as the community expert within your region. How?
Excited to get started? We don’t blame you.
Prepare for your next buyers with a free PropertyRadar trial and unlock millions of properties and new opportunities today.