Finding Sellers When Home Inventory is Low
Believe it or not, a low inventory housing market can actually be a huge opportunity for real estate agents. On one side, when there is low home inventory, buyers are more likely to offer more for a house and that is more money for you. But if you don’t have any homes to show them, or any listings it’s time to get to work to convince homeowners it’s time to sell their home. Here are some tips for getting those listings.
Take time to look through the MLS for homes that expired or never sold. At the time the home may have been overpriced or needed too many repairs to sell. Reach out to those owners and share with them the state of the market. They may decide they want to put their house on the market again.
A lot of people own rental properties as an investment. You never know the situation the owner is in, so it’s a good idea to make contact and inform the owner of the current market situation. The owner may just be looking for the right market to sell the home.
Nurture Past Clients
Keeping up with your past clients gives you an awesome opportunity to know where they are in life (growing family, retirement). Send cards acknowledging special events in their lives, and even an anniversary card on the closing of their home. Doing this not only nurtures a friendship but also keeps your name in mind when it’s time to sell.
Use Social Media
Social media is a great way to keep your clients and potential clients abreast of the current housing market. Post meaningful articles or blogs on when it’s time to sell. Post about houses that are selling. That might convince those on the fence that it’s time to sell. Social media is also a great way to keep your name out there when others are thinking of real estate needs.
Real estate is a people business. Be proactive about making new connections, smart about using data and hungry to get more business.