HOW ARE OTHER REALTORS CULTIVATING MORE LISTINGS WITH LOWER INVENTORY?
Ever since the start of Coronavirus, the real estate market has been more and more unpredictable. In the past year, we’ve seen:
- The lowest mortgage interest rates in years
- Home prices skyrocketing
- Low housing supply
- New home features like home offices and home gyms are increasing in popularity
That’s a lot of challenges for real estate agents. We’ve got some tips for how you can cultivate more listings, reassure buyers, and stay on top of an ever-changing market.
Real Estate Market Update: August 2021
1. Find More Sellers
Finding sellers can feel like an uphill battle right now, but the best thing to do is use direct mail marketing campaigns, social media, and records of recent home prices to encourage sellers.
Show a potential seller that selling their home is a good thing, and if they sell their property, they’ll probably turn a favorable profit right now.
Once you find motivated sellers, stay in touch with them. Remind them of your services, send them email updates on the market, and reassure them that you’re available and ready to help them.
Check out more tips on finding clients with motivation to sell here. (LINK)
2. Reassure Your Buyers
With low housing supply, it feels like the housing market is full of homes pending sale and not much new. Let your buyers know that more and more houses will show up on the market as the summer continues, as your other clients are getting ready to list their property, too.
While housing supply is low, low mortgage rates can make it easier to afford homes that may be selling for top dollar right now. Encourage your buyers to stay on top of real estate listings, and keep an eye out for houses that may fit their needs, too.
3. Stay on Top of the Ever-Changing Real Estate Market
As a real estate agent, the market is changing year over year, month over month, week over week. Look to other agents you’re close with to ask them how they’re doing, continue researching the current economic habits of your area, and stay on top of the news to keep up with what’s driving the real estate market right now.
Beyond staying up to date for yourself, staying on top of the market allows you to provide your clients with the information they need to make informed decisions about their real estate plans.
Develop a marketing plan that allows you to connect with your clients regularly through email messaging, social media, or direct mail marketing. Include updates on the current state of the market and tips on how they can make the most of the current situation.
Find customizable templates for postcards, flyers, and other marketing materials by accessing our online platform.