What is the ultimate way to showcase your property to the most motivated buyers? You listed your property. It’s on the internet, there’s a sign in the front yard, and you have an open house this weekend. But, are you hitting your target audience of qualified buyers who are motivated to buy today? In my opinion, no. The best way to reach those individuals is by another means, that’s often unknown to sellers. It’s called “Reverse Prospecting.” Before I explain what it is, let me first explain what is happening as a buyer works to identify a new property.
I’ve been in the Baltimore real estate industry since 2008. I specialize in representing sellers in the Great Baltimore Area. Getting eyes on your property is critical to getting it sold, but are you attracting looky loos or connecting with qualified, motivated buyers? It's imperative that you find the latter to move your property from 'listed' to 'sold!'
Qualified Buyers' Criteria Is Entered In The MLS
Most buyers starting a property search engage a real estate agent to represent them. When a real estate agent is approached by a buyer to represent them in the acquisition of a property, the real estate agent typically first makes sure that the buyer has obtained a preapproval letter from a lender (or a proof of funds if the buyer is using cash), or assists the buyer in doing so. Why? Because sellers want to see that a prospective buyer is financially qualified to purchase a property before entertaining an offer. Thus, a real estate agent doesn’t want to waste their time showing properties to a prospective buyer who has not been qualified and thus cannot prove that they can financially proceed with a purchase.
Once the real estate agent has a preapproval letter from the buyer’s lender (or a proof of funds if the buyer is using cash), the budget for a new property becomes known. Now, the buyer’s agent will ask the buyer various questions to develop the buyer’s criteria for their purchase. This criteria is essentially the buyer’s wish list and may include the buyer’s desired zip code or neighborhood, number of bedrooms, number of bathrooms, preferred square footage, that the property has a garage, etc. Rather than entering this information in the MLS daily, the system real estate agents use to find properties, the real estate agent can enter the criteria in the MLS and set up an alert so that a notification is sent when a new property is listed that matches the entered criteria. Most buyers' agents have that notification go directly to the buyer’s email.
Buyers Receive Automated Notifications When A Newly Listed Property Matches Their Criteria
The MLS is holding the saved criteria and notifications entered by various real estate agents for their buyers. As a seller’s agent, when I list your property, certain buyers will receive an email notification if their criteria is a match for your property and their real estate agent set up an automation. The problem is that because many buyers' agents set the notification to go directly to the buyer; it bypasses the real estate agent altogether. And if the buyer is busy, the notification may go unchecked.
Make Sure Your Property Is On The Radar of Qualified Buyers And Their Agents
As a seller’s agent, when I list your property, I have the ability to use a tool in the MLS called “Reverse Prospecting.” Reverse Prospecting allows me to select your property and obtain a list of every real estate agent who has set up a notification that is a match for your property. I use this curated list to reach out to each one of those agents directly and individually to promote your property. Why is this effective? For one, the real estate agent likely did not set up the criteria for a buyer if they did not have a preapproval letter or proof of funds in hand (that would be a waste of time) – these real estate agents are likely working with qualified buyers that are looking to purchase now, and two, if the real estate agent has the notifications set to go directly to the buyer, the notification is bypassing the real estate agent whose job it is to find a match for their buyers. When I reach out to the real estate agents that set up criteria that matches your property, I share all the major selling points of your property as well as a link to the listing to encourage the real estate agents to discuss the opportunity with their buyers. By getting your listing directly in front of both the qualified buyers and their real estate agents, we can ensure our bases are covered in getting your property in front of the right eyes.
Targeted Outreach Is Imperative, Yet Rare
How often is Reverse Prospecting used by other sellers' agents? Not often. While my focus is on representing sellers, I did represent four buyers in 2024 and currently have notifications set up for a few more who are looking to purchase in 2025. All year, I think I was contacted twice by sellers' agents who were using the Reverse Prospecting tool to find real estate agents with motivated buyers. So, not only is Reverse Prospecting the best way to connect with serious, active buyers and their agents, other sellers' agents are not utilizing the tool regularly, which gives us an advantage in the market.
Selling your property is an active, hands-on process and I can assure you that I am using the tools necessary to get you property seen by those who are most seriously looking!
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