The real estate market is still hot, so most real estate agents are having a hard time generating listings for their business.
Recently, founder and owner of West + Main Homes, Colorado, Stacie Staub, joined us for a Secrets of Top Selling Agents webinar to share three strategies to find inventory and listings now!
Why Is the Market So Low?
To start off the webinar, Staub shared some insights as to what caused the market to be the way it is. Aside from COVID-19, Staub shared some details:
– Lumber Prices: Lumber prices are up, and with that the cost of building has gone up as well.
– Labor Shortages: Labor shortages have appeared as a result of construction workers not being able to work due to the COVID-19 pandemic.
– Permitting and Utility Offices: Especially during COVID-19, permit offices and utility offices are backlogged causing delays for issuing permits and utilities such as water or electricity.
These are just a few of the reasons for why listings may be so low. Staub explains that by understanding how the market is should be the first thing to do prior to implementing these three strategies.
1. Property Matchmaking
To start, Staub asked the webinar viewers to get a hold of some post-it notes. From here, you want to make a post-it note of each of your local clients. Once you have each client written on a post-it note, from what you know of them, number each client on a scale from 1-10 on their likeliness to move into a new home.
After you have done this, on another post-it note, write down what they hate about their current home and what they are looking for in their new home. Once you have done this, you have an opportunity to generate a listing from a client that you have worked with in the past.
Staub suggests that while you are making these post-its, take into account that there are potential buyers that may be renting or looking for a home to purchase. After doing this, take the time to match clients up with other clients to generate some listings and potentially make a sale.
2. Nurture Like a Ninja
You may have already participated in a Ninja coaching class or be familiar with the Ninja Selling book by Larry Kendall, but Staub suggests that if you want to generate listings to make more deals, you have to nurture your clients like a ninja.
This includes having up to 12 touch points per month through means of email, mail, phone calls or whatever you can think of that will directly touch your clients to nurture them. Staub suggests that if you don’t take advantage of this mentality, you may lose the opportunity to generate listings. To learn more about the Ninja Selling techniques, go here.
3. Use Big Data
Finally, Staub suggests that you want to take advantage of one thing: data. There is so much data out there that can help you to generate listings. Use data to your advantage to farm in areas that you might be able to generate listings in.
Some data you might want to think about can include, how long a family may have lived in their home for or if they have had any major life changes. Data like this can factor into you generating listings. For tips on farming your area, go here.
With strategies like these, you should be fully prepared to go out and find inventory and generate listings during a historically hot market. To learn more about Staub’s three strategies you can watch the recording of the webinar here or you can join the Secrets of Top Selling Agents Facebook Group to join in on the conversation.
Joe Sesso is director of Sales and national speaker for Homes.com. For more information, please visit marketing.homes.com.