Home inventory is tight in many parts of North America. While many buyers are eager to find and purchase a home of their own, many sellers are reluctant to list their homes. For many homeowners, the decision to sell is deeply personal. Most don’t want to sell their home; after all, they’ve put so much of themselves into it, they may feel that they’ll never get what it’s worth to them.
However, people want to move. Families grow, the kids leave the nest to start their own households, and employment opportunities open up in the next state or across the country and a myriad of other life changes occur. As a result, people put their homes on the market to sell so that they can find a home that better fits their needs. Your challenge is to find these sellers and encourage them to list their homes. Here are three ways to do it.
1. Educate them about the market. Although people have information about the market at their fingertips, they rely on the media to give them the full picture. Instead of being informed, they end up confused. As a seasoned real estate pro, you have the knowledge and experience to enlighten them with the facts about the local real estate market, especially as it compares to national trends. Give them the knowledge they need to make the decision to list their home.
2. Do a market analysis of their home. Your clients may be curious about what their home is worth. They may even curious about how updates and improvements will impact their home’s value. Oftentimes, homeowners are hesitant to list their homes because they think they own more on it than it’s worth or they’re waiting for the market to rebound to its once-great heights. In fact, one of the challenges that many sellers commonly face is unrealistic home value expectations.* A market analysis gives your clients a clear picture of what their home is worth, and gives them an idea of the impact that improvements could have on its value.
3. Listen, and offer reassurance. Nip any chances of miscommunication in the bud. When you listen to your clients, you’re better able to meet their needs and expectations. Since selling is a personal experience for many people, offer reassurance that you’ll do your best to market their home to sell.
Referral Maker™ real estate CRM software will help you keep in touch with your sellers, track your activities, and stay up-to-date on your appointments. Designed to make it easy to work by referral, Referral Maker keeps you organized so that you can put your best foot forward with your active and dormant sellers. Visit Referral Maker for more information and to start your 30-day free trial.
*Source: Redfin, October 2, 2013