Enemy Number One.
I think it’s safe to say, the vast majority of you are experiencing the most inventory-deprived, competitive market you’ve ever experienced in your career.
Tell me if this sounds familiar:
- Your market inventory is down 25% OR MORE from what it was a year ago.
- You have written 3 or more offers for buyers who have LOST the houses even though they wrote well over list price.
- When you DO get a listing, and you help your sellers navigate 8, 13, 20 or more competing offers to find the one that best fits THEIR needs, afterwards you have all the agents whose buyers DIDN’T win yelling at you for not taking care of THEM.
Worried? Depressed? Frustrated? Or all the above?
Of course you are! And, YOU HAVE CHOICES. There are options. Read on.
The Search for Listings… the Struggle Is REAL!
Let’s not try and pretend for one second that real estate isn’t challenging right now. For all of the reasons stated above, and more. You have choices on how you handle the market the way it is right now, because let’s face it – it’s not going to radically change today, or tomorrow, or really soon. So, what are these choices?
That’s right, pull your head in the shell, pray conditions change, go nowhere.
Pretend it’s not happening, exercise the definition of insanity: keep doing what you’ve been doing, and expect different results. Or pretend you’re on vacation. It has to change, right?
Put the boxing gloves on. Cue up Eye of the Tiger on your playlist. Do something!
If you’re a turtle or you’re checking out, you’re done reading. Get on with your day. If you’re ready to get in the ring and start fighting, the rest of this is for you!
WHERE to Find Listings NOW
I know you’re not going to tolerate any conversation about doing the basics well until I give you what you came for – tactical help: specific solutions taken from successful agents and teams who are getting it done RIGHT NOW. Here are a few sources; if you want the LONG list, hit REPLY to this email and say, “Please send me the long list!”
- Absentee owners with rental properties. Chances are they have strong equity and some of them are tired of managing these investment properties, or just want to cash in while the market’s so strong for sellers. Some may need to sell because they went months without tenants paying rent.
- Orphan buyers of your listings from 3 or more years ago. We know that most real estate agents don’t do well following up with their past clients (yes, I’m going to talk about this more). Who’s taking care of them now? YOU should be. They may be unaware of the growth in value they’ve experienced since they bought. And with interest rates being so much lower, they may be able to get into a next home for a lower payment than what they have now.
- Calling/mailing/posting on behalf of a specific buyer’s needs. If you have a buyer who wants a specific area, or style of home, you can directly target properties that are a match and see if they’d consider selling if the price is right.
If you’ve done all of these and want at least 9 more, like I said before, simply reply to this email and ask for the long list.
Your #1 BEST Source
For those of you who’ve spent any time with me, it’s one of my favorite soapbox topics. Are you completely paying attention? Here it is:
Your e-newsletter doesn’t count. Your Happy St. Patrick’s Day Facebook post either. These people already KNOW you, LIKE you, and TRUST you. They need to be called, texted, instant messaged, whatever their preferred method of communication is. And not just ONE time. Consistently.
Frankly, I could write an article on “Why You Don’t Call and How to Change It.” And so I likely will… next month.
If you’re not sure which way to turn, don’t know how to specifically target a particular listing source, or just need to vent about that co-op agent that called you bad names because their buyers’ offer got rejected, email or call to schedule 15 minutes to chat.
Now… go get in the ring!
P.S. You CAN do this. I believe in you.