Create Your Own Inventory in the New Year
Did you know the real estate market is expected to grow by about 10% next year? Catch all the groundbreaking insights of Brian Buffini’s Bold Predictions, 2025 Real Estate Market Outlook, now available on-demand. Watch now.
The market may be strong in most areas of the country; there may be times when you want to create your own inventory to meet the changing demands of your clients. Perhaps you’re working with first-time buyers who are looking for a fixer-upper within a lower price range or maybe your buyers are empty nesters who are looking for something high-end and centrally located. These tips not only allow you to create your own inventory; they’re also useful regardless of the state of the market.
Awaken dormant sellers
Dormant sellers are the folks who have been thinking about listing but haven’t for whatever reason. You may not know exactly who they are now, but by using the following tools, they’re sure to contact you.
- Send a letter to your clients and to homeowners in in-demand neighborhoods in your area to educate them about the current local market and why 2018 will be a good time to sell.
- Call your clients to remind them of your expertise and how you can help them this year.
- Follow up the letter and phone call with a personal note to remind them you’re there for all their real estate needs.
Leverage buyers
It’s one thing to say a seller’s home would be in-demand; it’s another to reveal to them that you know several buyers who may be interested in their home. Identify potential buyers for their home. If they’re current clients, you can use the Property Match feature of Referral Maker CRM to match clients who are interesting in buying with properties in your database.
Duplicate your listings
When you list a home, you’ll put a sign on your seller’s lawn. Now, many agents leave it at that and hope that people will see it and call them. However, successful agents are proactive and will target the homes around your listing—say the 250 homes in the surrounding neighborhood—and market to those homes as well. You never know, someone may have been thinking of selling but haven’t been prompted to act.
Leverage your business connections
Real estate is a very social profession that puts you in contact with tradespeople and services in your local area, from contractors to electricians to landscapers. Make a list of the businesses you work with the most. Develop relationships with the business owners by inviting them out for a B2B breakfast or lunch. Be sure to send a follow-up note afterwards to remind them you’re not too busy for their referrals.
Tap into old leads
Many of us lose track of leads that don’t go anywhere. Perhaps they changed their mind about selling at the time or circumstances forced them to put their plans on hold. Identify these old leads and give them a call. Explain the market and why not is a good time to sell and, most importantly, explain the plan if they were to list their home.
I’m excited to present all new content Buffini & Company’s GameChangers™ in 2018. This one-day event is designed to give agents the strategies and tips they need to thrive in the New Year and beyond. Click here to learn more.
Joe
