Strategies to boost business in a low inventory market.
We are all experiencing it; we know the issues we are facing in Real Estate today. We were at the Xplode Conference in Arizona recently, and some business owners approached our CEO/Founder Daniel Ramsey. Daniel asked them his favorite question: “What are the challenges you’re facing in your (Real Estate) practice?” Their answer? “Listing inventory! There isn’t enough!” We’re sure that they aren’t the only ones feeling the squeeze right now.
Sometimes adversity is what you need to face in order to become successful. Zig Ziglar
Indeed, in these difficult times; we look to innovation and creativity to find success. In this tough market, we have some tips and strategies that might help you keep your numbers up in the current low inventory market.
First off, begin by answering these questions; these may help you determine what areas in your business need some bolstering. By answering these questions, we may be able to find some pain points that need to be addressed as well.
-What percentage of your listings are you double ending?
-Are you prospecting each and every day?
-What CRM are you using to organize and build your business for scale?
-Do you have an assistant?
Click here to read more about how to address these areas of your business.
Next, the best shot you may have is hitting those expireds, FSBO’s and the like. The following list contains the 12 D’s of Real Estate—these are some points in which you may be able to find some inventory.
The 12 D’s of Real Estate
De-Listed from MLS – Expired
Delusional – FSBO – 80% of them end up using an Agent
Death – Probate
Divorce – Attorney’s and State Filings – Separation
Debt – Can’t pay the mortgage, Income issues
Double Debt – 2nd mortgage – Deep underwater
Damage – Uninhabitable, tagged by the city, stalled construction work, fire
Disabled – Owner has lost income source
Drugs – houses shut down by city
Desperate to move- School, life, work change
Determined to move – Up grade; single, married, kids, empty nest, retirement, death
|Displacement – Absentee owners/vacant homes
Finally here are some strategies that might help you as well.
1. Old Expired FSBOs – (2014- 2018 seems to be good years to look into).
2. Add Value to FSBO- IVR “800” number and buyer leads.
3. Flyers/Calls/Door knocking prior to listing.
4. Texts/SMS- to get a conversation going.
5. Use social media and avenues of connectedness
To hear more about practical applications for these strategies you may want to check out our webinar with one of our partners, LandVoice.
You may also want to check out this webinar with Brad Chandler about Expertise in Home buying Wealth.
MyOutDesk not only offers you a talented Virtual professional that you can leverage into your business. We offer a 7-figure business road map. The 7-figure business road map will help you focus on the things that matter at different levels of revenue and team sizes.
We offer you more than a virtual assistant’s services; we offer you high caliber virtual professionals that you can leverage to allow you to focus on the revenue producing activities in your business that only you can do. By taking the repetitive, non-revenue tasks from your plate, MyOutDesk empowers you to focus on your bigger picture, high tier tasks by giving you more time and the peace of mind that talented members of your team are able to take care of everything else.
Schedule your FREE business growth strategy session and find team players who are dedicated to your success.