By now you must have seen it – buyers and sellers alike have been hesitant to enter the market. Whether it’s due to a lack of affordability, a lack of inventory or a concern of having little to no equity, lately the market has been riddled with sidelined buyers and potential sellers afraid they’ll have nowhere to go if they sell their home.
Let’s face it, the market may not be at its best right now, but in order to stimulate the recovery these people need to move past their fears and onto the market – and as an RE agent, it’s your job to help them get there. We know this is no easy task though, so to make things a little easier for you, here are a few strategies we’ve found to be helpful when convincing hesitant buyers and sellers that it’s time to find a new home.
1. Take advantage of social media
This is a very effective tool for telling the story of the market in your area. Did your new listing sell immediately with many interested buyers? Tell the story on Facebook. Boost the post. For little money spent you can target a very specific audience when boosting a post on Facebook. A story of a wildly popular house with a photo will generate lots of conversation and interest. Social media is the great cocktail party on the Net, and a favorite topic at the party is real estate! One word of caution: Be very careful not to give away any confidential information.
2. Have you considered a postcard campaign?
The news in many markets is that desirable areas are appreciating quickly and the houses are selling in less time than they did last year. Let the community know by sending them a statistic-filled card with the data for their area. Use a catchy headline to grab attention.
3. Make the rounds: try some door-to-door canvassing
A great way to meet future sellers is to canvass neighborhoods. When hosting an open house, invite the neighbors. They are curious and will likely come anyway, and if you are in need of additional inventory in their area bring them an invitation to your open house. You will have an opportunity to have a face-to-face conversation with homeowners to share the good news that their house is likely worth more than they think and that there are buyers for their property.
Have you had much success converting would-be buyers and sellers in to new homeowners? We’d love to hear your thoughts!
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