Maybe you’re struggling with getting buyers under contract or motivating sellers to list with you? Regardless, these past few months have been a real doozy for many real estate agents, especially our green friends who have never had to work through a sticky market like this.
Of course, this is no matter to be taken lightly, but you’re probably wondering {and worrying} how you’re going to hit your target goals you made at the beginning of the year (you know, before all the earthquakes, wildfires, killer bees, shutdowns, etc.) aannnddd, more importantly, how are you going to feed your family? How are you going to pay your bills? Afterall, you have a mortgage to pay, kids to clothe, people who depend on you, and, don’t forget, your monthly mani and root touch-up. #selfcareishealthcare
Like, you have dozens of eager buyers in your back pocket, writing contracts left and right for just about any home they can afford and yet… Nothing? No dice? Not a chance? Your foot’s not even in the door thanks to cash offers and absurd escalation clauses.
If your town is anything like mine, then you desperately NEED listings. I mean, I’m looking at the hot sheet right now and it shows 55 properties listed and 52 pending. Now, I live in a pretty small town so those numbers may sound small to you (and trust me, they are for me too. Last year around this time the numbers were double and triple what they are today) but since March we’ve had thousands of buyers flock here in search of safety from the pandemic. Our market just can’t keep up with the buyer demand, forcing us realtors to scramble for listings.
And I know you’re thinking, “But, Nicole, how...
A letter from a very concerned (hypothetical) buyer:
My dearest agent,
In the short time we have been together, you have done your hardest to help me, yet, it wasn’t that you didn’t do enough, you did too much.
Regretfully, I have but three grievances that I feel I must share with you if we are to proceed with this relationship:
Listen, you’re great... And, I’d like to continue working with you - but only...
Have the past few months been a real doozy to your real estate biz?
If you’re like many other agents out there, you’ve been riding out these past few months like a SoCal surfer looking to catch a wave on Lake Tahoe in the middle of winter.
Maybe you’ve had an interested buyer here and there, but they back out last minute or say they’re “waiting” until the market has stabilized. Meanwhile, your bank account is slowly getting depleted from zero closings and sad buying Chinese take out.
Unlike the economic crisis of 2008, the current recession was not caused by the housing industry
Home prices have not decreased since March and are not projected to
Homes are still selling and deals are happening
So what can you do differently?
I have a few suggestions:
This happens like, never. Ever.
If it does, go you!
But the reality of this happening is about as common as your jam coming on and everyone at the party doing a coordinated dance routine to it. It is up to you to pick up your phone and make a call! If you don’t, someone else will.
And if you’re nervous about what to say, I’ve got a few great scripts for that here. No excuses now, get calling!
Not having a system… is a system.
Believe it or not, you have things that you do every single day without even realizing it. You wake up, brush your teeth, run a comb through your hair, grab a cup of coffee, and start trolling the IG = A SYSTEM.
You may be doing this subconsciously, but it is still a system.
Many of you may be starting out and have no idea what kind of system to use. I mean, there’s just so many to choose from!
You have Real Geeks, Boomtown,...
Is your listing sitting days on end on the market without a single offer? Odds are, there’s nothing wrong with your home! It’s most likely a matter of price.
Here’s a quick tip I live by:
Take a look at the MLS and see where your listing falls in relation to other properties according to price.
Is your home comparable? Is yours as nice? As big? As updated? As “showing ready”? Does it merit that price tag?
You want your listing to show first on the MLS. Always.
For example, if someone is searching for a home under $400K, 4 bed, 3 ba, w/ .25 acre, and there’s already a home on the market in the same neighborhood with that exact criteria, then you’d want to price your...
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