Real estate markets shift constantly, making it one of the most interesting, fun and challenging industries to be in. Currently, the country is experiencing a dominant seller’s market that’s being driven by low inventory, low interest rates and highly motivated buyers. Exasperated sales agents and teams are eagerly looking for ways to successfully navigate this lean market for their clients and for the success of their own business.
If you or your team members are on the listing side of the business, good for you. In many cases, listings are selling quickly with multiple offers and accelerated prices. As a listing agent, it’s time to double down on prospecting for listings. If you want to double your listings, our 120 Day Listing Challenge can help. It goes over specific ways you can contact your sphere of influence (SOI), past clients and your Top 50 to ask for referrals and determine what their next steps will be when it comes to selling their home. We suggest timing the next contact date in your CRM for 45 days out instead of 90 and letting the contact know that you will be following up within that timeframe. Show your expertise in the market by understanding how to navigate and win with a stacked arsenal of tools and systems.
Working with buyers is all about setting clear and candid expectations to achieve the buyer’s goals in this multiple-offer environment. Using MLS data, you can help your buyer understand the market and be aware of any challenges they may face. You should also discuss the techniques you can use to write competitive offers. For example, if listings are selling over the list price, what is your buyer able to do to close the financial gap? Focus on the buyer’s most important desire and be sure to only present properties that fit their top one or two priorities. Keep it tight, move quickly and clearly communicate with the buyer to keep them focused.
No matter the market, to find success as an agent and team, you need to maintain a positive mindset. Even in a lean market, listings are still being bought and sold. To continue to do business in a lean market, switching to listings is a great way to grow your business. In the end, when you’re committed to finding solutions, those solutions will appear. Show up as the leader, work on the proven systems with the right tools and overcome being a victim to the market. Instead, be the market. The 120 Day Listing Challenge provides the systems and tools to thrive in a lean market. Contact email@example.com to start the challenge today.
Paul Sessum has been a master coach with Workman Success Systems since 2017. As a speaker, trainer and real estate agent, his passion is inspiring others to achieve their goals and live a balanced life.