In today’s busy real estate marketplace, door knocking is alive and well. New and seasoned real estate professionals alike still use door knocking as an effective tool to generate leads. It’s becoming a competitive practice especially in areas where inventory is scarce. Rea estate agents are scrambling to get listings.
There are various techniques to make door knocking work for you. And how to bring it to the next level. Combining strategies with digital tools and marketing, you can effectively generate leads and build relationships using door knocking techniques.
Door knocking where there’s turnover
It helps to door knock in an area where there is at minimum 5-6% turnover. Some real estate coaches even suggest 8% to 10% minimum turnover. Though some established areas don’t generate as high of a turnover, it still helps to target them if you feel confident you have a system that can generate leads. And if you know you can establish yourself as the neighbourhood expert.
You can calculate turnover by knowing how many homes are in an area and cross reference it to the number of sales that close every month. Calculate the total over a yearly basis to see what the annual turnover is. For example, if 50 homes sell each year in an area with 500 houses, you have a 10% turnover.
Some companies provide tools that help you figure out which areas have high turnover. If you don’t have access to these tools, use post office tools to figure out how many houses are in an area. Or you can also buy mailing list or neighbourhood information from direct mail campaign services. Check your local real estate board statistics to find out about the number of sales in each neighbourhood.
High activity of listings and sales
You’ll find a lot more results when you’re door knocking in an area with high activity. If you see a lot of listings and sales, chances are you can generate a seller lead in the area. The best approach to this would be establishing yourself in the neighbourhood. But if you have no presence in the area, door knocking is a way to start.
Use an approach that combines information, effective lead generation dialogue and digital technology to quickly build up a presence in a high activity area. If you don’t currently have any listings or past sales performance, start by sharing information with homeowners. Talk about what’s being listed. And what has sold. Use dialogues and scripts to help you do this.
How do you find an area with lots of activities? You have to watch your local market. And keep an eye out on trends. In some areas, there are companies who provide you with tools that show you market activity. If you have access to these tools, you can use them to quickly identify potential opportunities. If you don’t, you should check your local real estate board’s statistics on a daily basis to keep an eye out on trends.
Leveraging digital technology
Use digital technology with your door knocking campaigns. You should have real estate landing pages that provide homeowners with the opportunity to get sales and market information for the neighbourhood you work in. Your marketing materials should have a link to a specific landing page depending on the campaign you are promoting in the area.
You should also spend time creating a social media presence. Establish a Facebook page or group for the specific community you are door knocking in. Put the link for it on your marketing materials or connect to it from your community website. If you’re using Instagram, take photos while you’re visiting landmarks in your door knocking area. You can even use Snapchat or Periscope to provide live feeds as you visit the neighbourhood. Keep in mind homeowners value privacy. So don’t post house photos unless it’s your listing or with the express consent of the homeowner.
The most important thing about door knocking is consistency. No amount of marketing, whether digital or traditional, will ever replace active prospecting. If you are not consistently door knocking and generating leads actively, you’ll have to rely on ‘cheque equity’ or passive lead sources to generate leads. If you are confident going door-to-door to generate leads, consistency is what will set you apart from other door knockers.