Motivating Sellers - Opportunity Sellers vs Life-Change Sellers
If you are creating a campaign to attract sellers, one of the elements that is likely top-of-mind is your call-to-action. A call-to-action is that piece of information that creates urgency and causes a potential seller to pick up the phone.
For example, if you have presented information on a median sales price increase in a neighborhood which has increased dramatically, there is likely a compelling reason to sell. Therefore, your call-to-action may be something like this:
"As you can see, median sales prices in your area have increased 9.6% over this same month last year. This is an unprecedented increase! If you would like to learn how to make this opportune moment in the market work for you, give me a call to set up a one-on-one consultation."
This is a great example of what I call an Opportunity Seller. There is an opportunity that exists right now in the market for that homeowner to make a move.
May move if their selling opportunity lines up with a buying opportunity (so they have somewhere to live)
May move if they can get their wishlist price
May move if they can be shown how the math works in their favor
May move if they are uncomfortable with an aspect of their current property and a high selling price will get them off the fence
May move if they are slightly unhappy with their current living situation, know that unhappiness could increase, and they may be kicking themselves later if they don't make a move now.
May move if other sellers in their neighborhood are seen taking advantage of the current opportunity (FOMO – Fear of Missing Out)
Opportunity sellers are motivated by:
An improvement to their situation
It is important to remember the above list when creating a campaign for opportunity sellers. Our market right now is RIPE with opportunity sellers who may understand an opportunity exists, but aren't sure how to take advantage of it or think they are stuck for one reason or another. However, they may become unstuck if you have the right language that compels them to at least pick up the phone and have a consultation with you.
There is another group of homeowners who may need to sell and those are what I call Life-Change Sellers. Life-Change Sellers are those who have experienced or are about to experience a life-changing event and who need to sell as a result.
Examples of Life-Change Sellers include:
New multi-generational households (with COVID, this has become huge with parents moving in with kids and kids moving back home with parents)
People whose lives have changed due to COVID (work from home, school from home on a more-permanent basis)
Illness or inability to continue to live in the home
Some of the items on that list are uncomfortable to talk about, but everyone on that list needs a trusted advisor to get them to their next step. They need someone they can trust.
If you were exclusively marketing to someone in this category, the call-to-action may sound more like this:
"Selling, buying, and making a move in any market is difficult, but this market in-particular requires a strong strategy. I am sure you have plenty of questions about your next step and I am here to help. Please reach out and schedule a one-on-one consultation and I can help you envision your next step."
An Opportunity campaign and call-to-action (urgency, opportunity, don't miss out) is much different than Life-Change campaign and call-to-action (empathy, problem-solving, patience and grace). However, unless you are marketing to a specific niche market that includes a list of folks exclusively who are going through a Life-Change situation, you need to make sure your brand, messaging, and call-to-action appeals to both.
Both Opportunity Sellers and Life-Change Sellers are out there. You just need to make sure your message is compelling and clear. Remember to speak their language!
Want to Learn More About Creating Compelling Seller Campaigns?
Join me for a very special upcoming class:
https://go.thelonesgroup.com/sellers
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By Denise Lones CSP, M.I.R.M., CDEI - The founding partner of The Lones Group, Denise Lones, brings nearly three decades of experience in the real estate industry. With agent/broker coaching, expertise in branding, lead generation, strategic marketing, business analysis, new home project planning, product development, Denise is nationally recognized as the source for all things real estate. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.
