Over the last two years, the ink would barely dry on a listing agreement, and you had a contract on the property. Now, the market has turned completely, and houses are sitting on the market waiting for the right buyer. So how can you adjust to these conditions? Here are seven tips for finding listing and buying clients to boost sales in this changing market.
Return to the fundamentals
You barely had time for lunch daily when the market was smoking hot. A slower market affords you time to return to business building basics, such as:
- Reconnect with networking events you may not have had time for in the last two years. Join civic organizations, participate in charitable fundraiser events, and meet with or form a leads group. Grow your sphere of influence by meeting new people
- Refocus your attention on MLS statistics: the amount of inventory in your market, days on market, expired listings, and price reductions. With a crisp knowledge of facts, you can spot opportunities for yourself and give valuable insight to clients. They’ll love you for being the market expert!
- Revisit and relearn the characteristics of specific neighborhoods, then feature them in your newsletter, your social media posts, and other promotional media. Describe the strengths of these communities and display your hyperlocal knowledge to prospective clients.
- Attend broker tours at new home developments. Learn the builders, home models, inventory, amenities, local schools, shopping, and more. Introduce yourself to builder salespeople and get to know them.
- Handwrite and mail ten greeting cards per week to past clients. Recall and mention details of their interests. Send little gifts to let them know you’re thinking of them. They may send referrals and want to do business again in the future.
- Send people you know a fresh CMA on their home and other houses in their area. Raising awareness of their home’s value gets them thinking of possibilities.
- The open house is back! Covid-19 temporarily shut down these events, but now people are returning to “eyes on” home visits, not just virtual reality tours. Attend other people’s open houses and schedule them for your clients.
There’s nothing new or fancy here, and these may remind you of other basic ideas you can revive. Nothing beats the power of fundamental selling skills for building business.