Many areas of the country are changing with many markets experiencing a high inventory of homes. We hear the report of many areas having the highest number of homes on the market ever. The most successful Realtors over the long run change with their markets instead of complaining about them. They come up with ways to bring new ideas to the marketplace.
Buyers are out there and still capable of buying. Many of us have auto responders that send out auto emails to anyone that signs up to do IDX MLS searches from our websites. Have you amended these auto responders to send a positive auto message such as "Over 400 homes available in the price range of $200 -300,000! Find out why this may be the best time in years to buy with the best selection"? We can also record similar messages on voice mails etc. Have you amended your website to include eye catching headlines that tells buyers about new buying opportunities? Those of us with toll free Hot-lines can do the same thing by advertising how many homes available in a price range and making it sound appealing: "Call now to get a list of over 100 homes in the price range of $100-200,000 emailed or faxed to you". These types of ads get peoples attention and motivates them to take action. The point is to give buyers a reason to call you instead of the next guy by informing them of new buying opportunities.
Sellers in many areas are wondering what they have to do to get an offer and many would like to hear from us more. I have found mailing them a CMA summary monthly along with an absorption rate is powerful. The CMA summary shows all the activity since the prior month and breaks down price per square foot and average days on the market. The absorption rate shows them how many months of inventory are on the market. These two tools have actually caused sellers to call me and voluntarily offered to reduce their prices. Presented correctly these two tools are powerful. I have also started using http://www.realestateshows.com/ in a new way. I now use it to create shows of the competition that is new to the market. I then email it to my sellers or burn it to CD for them to view. I did this last week and had a seller call me the next day and tell me they needed to reduce their asking price! Another seller decided to get rid of some furniture and spice up their home after they saw one of the videos of a new listing that was furnished well and flowed well. Visuals are convincing!
Native Idahoan and Boise Idaho Real Estate specialist serving Boise, Meridian Eagle, Nampa, Caldwell and the surrounding Treasure valley area of southwest Idaho. Specializing in residential, investment, land and commercial real estate. Search thousands of MLS listings at Boise Homes for sale and learn all about Idaho by visiting Search Idaho Homes