3 Solutions For Low Housing Inventory
Realtors,
Many homebuyers today are facing a shortage of available housing inventory. This is putting a lot of extra pressure on you, as their real estate agent. Here are three potential solutions that we can explore:
How to Find More Sellers. Many real estate agents don't spend any time on database marketing. Other real estate agents blast their previous clients with newsletters they probably delete, recipes they probably throw away, and/or fliers that basically say, "I'm awesome because I sold the home next door". What if you could be different? Here's an idea to consider: personally call just one of your previous clients per day... every day for the next 100 days. If you only have 100 old clients that you've worked with in the past, and your clients move on average every 8 years, you could literally generate an extra 12 listings by implementing this strategy! That doesn't even take into account the extra referrals and buyer-side transactions that you'll generate from these one-on-one conversations. I can give you a template for what to say when you make these calls because I'm currently doing this in my business with great results. You can probably get this done in less than 30 minutes per day!
How to Find and Work With Cash Buyers. If you had $1mm in cash sitting around, where would you hang out? Probably on the golf course with your financial planner/money manager! That's one reason why I've made it a point to work with financial advisors. They have direct access to the types of clients I want to work with. That's also a great strategy for you. Not many real estate agents focus on creating value for financial advisors. What if you and I could offer a free housing consultation to a financial advisor's clients as part of his/her financial planning process? If we only work with one financial advisor, who has 100 clients, and these clients move on average every 8 years, we could literally generate an extra buyer AND an extra listing EVERY MONTH for you by implementing this strategy! Remember, these are buyers who can afford to pay cash and/or make higher bids when buying real estate. Let me know if you'd like to get started and I can facilitate an introduction.
How to Set Better Buyer Expectations. What if we help buyers budget for the cost of home improvements BEFORE they go house shopping? This opens up lots of possibilities because it helps buyers visualize themselves making an offer on a home they would have otherwise found unattractive.