Summer is the time of year where the real estate business can be good for agents but it also holds the temptation to let the foot off the”gas” and enjoy the summer lifestyle.
My message this summer to my REALTORS® has been… “keep real estate simple and focus on these summertime real estate activities that have the highest return and allow yourself the freedom for a little summer time fun while doing what works.”
If you think about it there are only a few things a real estate agent can do today that could possibly turn into a sale.
If you price your listings right and they are in their sweet spot they should have a good chance of turning into a sale for you today or in the near future.
Most agents feel they are at their best when they are doing face to face activities to create a listing opportunity for themselves.
With a good price reduction the home will be in the sweet spot and will now have a good chance of turning into a sale for you today as well. Meet face to face with the seller and focus on the 2 emotions that move people.
Pain or Pleasure…
Focus on what they are running from or what they are running to.
Move them to reduce their home and get on with their goal they set with you when they first listed their home. Take the time to share with the seller some other ideas they could do to make their home more appealing like a yard makeover, pre-home inspections, third party appraisals, professional photography, painting, de-cluttering or one of my personal favorites a “Dutch Auction”.
A Dutch Auction is when the seller agrees to market their home where it will be reduced a specific amount every week until it is sold. For example, “This home will be reduced $5,000 a week until it is sold.”
You can market this in MLS comments, ads and online. The idea is to create some interest and buzz on the property and have a buyer put in an offer before the price lowers and someone else buys the listing instead.
One question I ask my agents is… “What is the best buy, address and price for a first time buyer, move up buyer, downsize buyer, new home buyer, investment buyer, luxury buyer or fix and flip buyer?”
Most agents have no clue.
The next question I ask them is “who are you telling about the buying opportunities in the market?”
Take the time and find the best buys in the active buyer categories of your market.
Find the best method to get those buying opportunities in front of people.Is it a flyer, newsletter, email, phone call or a social media posting?
Contact your past clients and say something like this… “I have no reason to believe you are in the market for another home but I came across these great real estate buys and thought you may know a friend or family member who is looking… if so call me with their name and number and I will follow up with them about this excellent opportunity.”
In order to be able to blast these real estate buying opportunities you need to be connected to as many people as you can to begin with. Get names, addresses, emails, phone numbers and connect on social media pages with as many people as possible.
What do you think your chances of creating a buying opportunity would be with a Facebook post like. “Deal of the day. Foreclosure sale of waterfront property in prime residential area for under $750,000 dollars. Call me for details”?
I hope you enjoy the final few weeks of summer and that you are able to keep your real estate business simple and profitable using these 3 incredibly lucrative activities.
Strength and courage,
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