It is no surprise to anyone that has been following the real estate industry over the past five years that we have arrived at a time of historically low inventory levels.
On the positive side real estate agents are experiencing multiple offers for sellers, but more buyers than not aren’t getting their offers accepted which lends to frustration.
So just what do you do when you are working in this type of low inventory market? The first thing you have to do is accept the fact that you are going to have to “move your boat” to find the fish! That means that you are going to have to find listings and present a compelling reason for sellers to want to list their homes. In this type of market the agents with the inventory are the agents who control their financial destiny (and their frustration levels).
A letter campaign can be very effective. So here are some ideas for finding listings for your business via a letter campaign:MLS Research & Shortage Letter Go into the MLS and look for neighborhoods that have had very low days on market numbers (fast sales). Then look at the recent sales and what the list price to sale price ratio has been. If the sales prices exceed the list prices you have found a “hot spot”. You can do a letter campaign to the neighborhood letting them know that their area has had some high sales history and inform them of their opportunity to sell. Zoning Changes Letter Zoning [...]