Is inventory incredibly low in your market? We are hearing this from many of our agent members in all different parts of the U.S…. but my question is, what are you doing about it? Some of my best agents aren’t just waiting for listings to hit the market, they are playing “matchmaker” .
Many buyers will drive neighborhoods and fantasize about their life in a specific dream home. A home where they want to raise a family or just have a beautiful quality of life. The reality is most of the homes people desire just aren’t on the market these days. With the help of the right agent, that dream home can be a reality. Yes, at times homeowners will not want to list. But many have considered selling and haven’t taken the initiative to contact an agent to get the ball rolling.
Agents, are you willing to step out there and knock doors or mail absentee owners for your prospective buyers? Many homeowners might have had their home listed when the market fell but don’t realize they now have positive equity. Are you willing to call expired listings from 12-18 months ago?
Some strategies agents are using as well are:
- Research neighborhoods where the buyer wants to live and buy a home and match them with the homeowners that may want to sell. Ownership information is of public record and you can find important facts needed before approaching the homeowner. How long have they owned the home? How much was the home purchased for and what could it sell for today? Are they an Equity Seller? Have they listed the home before and taken it off the market?
- Send a handwritten letter or card explaining that you have buyers interested into moving to the neighborhood, and there is a listing shortage. Tell them that you would love to talk to them about a hassle free way to get their home sold.
Educate your buyers on the facts of today’s market. If they want you to approach owners of homes not currently listed, they need to be prepared to pay a premium for the property, given that markets are in multiple offer situations. Are they willing and able to compete? Do they have proof of funds? Are they ready to remove finance contingencies? If they can’t bring their “A Game” to the table and value your time as an agent; then consider not taking them on as clients. The market is moving fast and you have to make sure you can keep up. Don’t waste your time with buyers who aren’t serious.
Make sure homeowners are well-educated about the changes in the marketplace as well and inform them that you can make the listing process hassle free. They need to trust that you can get the job done in less time, and that you can bring buyers into their home and get them a price that is fair for this market.
Are you going the extra mile for your buyer’s? Are you reaching out to homeowners whose homes are not on the market? It’s time to be a Matchmaker!