Although the real estate market is recovering in most areas, inventory is still tight. Potential sellers may be on the fence about listing their homes—maybe they owe more than it’s worth or they’re not sure if they’re ready to move just yet. This may leave many potential buyers frustrated by the lack of homes that meet their criteria. However, there are ways to create your own inventory for your buyers.
1. Wake your dormant sellers. There are homeowners in your database who are itching to move. Maybe their home has become too small for their family’s needs or they’re looking to downsize, move closer to family or just want a change of scenery. While they know that they should move, they may not have put much thought into it. Reach out to your clients who have experienced a life change—a new baby, kids leaving for college, in-laws moving in or retirement—and ask them if they’ve thought of listing their home. You never know; their home could be the perfect one for a buyer in your database.
2. Tap into FSBOs. Although many agents cringe when they see a for-sale-by-owner sign in a yard, think of it as an opportunity to offer your expertise and experience to homeowners who may not know any better. Not everyone is fortunate enough to have a superstar real estate professional like you as their advocate! Once you get the listing, be sure to use the Property Match™ feature of Referral Maker® real estate CRM. This feature, only found in Referral Maker, matches your listings to buyers in your database who are looking for similar homes.
3. Owners of rental homes. Although many people own rental homes to have an extra stream of income, some owners may be thinking of selling the property, but aren’t sure how much they’d get for it. Discuss the local market and home values with them. They may be surprised by how much their home is worth and wish to list it.
4. Walk in-demand neighborhoods. If you have buyers who are looking for homes in certain neighborhoods, but there aren’t any homes for sale there, contact the homeowners. Walk the neighborhood and knock on doors and leave a letter with your contact information. Explain that their neighborhood is in high-demand and ask if they’ve ever considered selling.
Want more tips to create your own inventory? Joe Niego’s Instant Inventory will give you the tools you need to create your own inventory. And be sure to sign up for Brian Buffini’s Success Tour for more strategies and tips from Brian Buffini, Joe Niego and their special guests. Visit BrianBuffini.com to find an event near you and to reserve your seat today.