It may be difficult to believe, but there are a number of markets across the country where there is shortage of inventory. On the other hand, you may be having a personal shortage of inventory (i.e. a listing slump). If you want to "dump the slump" and create more listings for your business, here's a great way to do it.
1. Identify two or three steps of your buyers who meet these criteria.
a. They are pre-qualified.
b. They know the specific price range and area in which they would like to live.
c. They have a specific style house in mind including the architectural style and the bedroom-bath count.
d. They have been unable to find a house that is right for their family.
e. They have no issue with you contacting others and describing their wants and needs.
2. Draft a letter that says something like this: "I have a young family that has been looking for a home in your area. The first buyers are a young couple with 2 and 4 year old children who are looking for a traditional style home in your area, two stories, with at least four bedrooms and 3 baths. They have been pre-approved for a loan of $225,000. If you would be interested in showing your home on a one-party listing (i.e. a listing only for this one couple) please contact me at (give your name and contact information.)
3. Send the letter out in a hand addressed envelope to all the homeowners whose properties meet these criteria.
4. Be sure to obtain a one-party listing before showing the property, preferably with a full commission to you.
Agents who have tried this approach often manage to sell 2-4 properties, often getting both sides of the commission. This is a great way to generate sales and best of all, save yourself the hassle of having to market a listing for months at a time.
Posted by Bernice Ross. Join us this week on RealEstateCoachRadio as Jay Thompson, the Phoenix Real Estate Guy, continues with the second part of his 10 part series on “Ten Habits of Highly Effective Real Estate Agents.” I’ll be wrapping up my ten-part series on taming your email that you won’t want to miss as well.