Today I wanted to talk about a few ways you can drum up some additional listings in this limited inventory market:
1. Send a market update report to all your previous clients. Property owners always want to know the value of their home! A simple way to stay in touch is to set up a monthly market report. You can send it out through the MLS or maybe even through your CRM.
2. Start marketing your buyer needs to past clients. If you have folks looking in specific neighborhoods, you can send a mailer to your past clients stating what your current buyers are looking for. Mention how many bedrooms they want, where they’re looking, and what price range they’re considering. It will keep you front of mind, and it might even pique one of your past client’s interests.
3. Search specific areas for property owners who purchased their homes 5+ years ago. You can start by farming the specific neighborhoods your client is interested in and targeting homeowners who have been in their houses for a while. This can be as simple as sending a few letters. The key to farming is consistency!
“In this limited inventory market, it’s important to be creative in your listing lead generation activities.”
4. Ask other agents about the homes you’re looking for. Everyone has upcoming listings in their pipeline. When you’re meeting with other agents, take the opportunity to ask what they have in their listing pipeline, and you could potentially sell something before it’s even officially on the market.
5. Call your past clients. This is probably the easiest solution. Give your past clients a ring. Ask them how their kids are doing, about what’s going on in the neighborhood, etc. If you have these conversations, you might find out they’re considering moving out of state or downsizing, or just ready for a move in general.
If you have any questions about these tips or the business in general, feel free to call or email me. I’d love to hear from you.
