1. Build Your Listing Inventory
As the low hanging fruit are being gobbled up by buyers and investors, there is an appetite being cultivated for homes at every price point. You must diligently prospect for a greater share of the houses coming to market. If you have inventory, you will finish 2012 well and set yourself up for a spectacular 2013!
We recently posted a blog addressing the 4 factors that will guarantee your listing sells. Check it out here.
2. Approach Previous Expired Listings
Last month, we told you to concentrate on the listings that expired on June 30th. However, many other listings have expired, been withdrawn and released over the last 6 months. In many cases, the sellers' motivation for originally putting the house up for sale has not changed. They just couldn't navigate a very volatile housing market at that time.
Now that the market has settled and you have a better handle on the opportunities that exist, make sure you contact those previously expired listings and see if you can help them accomplish their goals.
3. Uptick Your Use of Social Media
If you haven't yet, create a presence on Facebook, at the very least. If you already have a presence, enhance it by completing your profile and following, liking, and linking with everyone you know. Post industry specific news articles, blogs, graphs and charts to establish your page as a valuable resource for great real estate information. Ignoring social media today is equivalent to ignoring the use of Google five years ago!
4. Build Your Databases
You must not repeat the mistakes of the past. Surveys still show that a large number (87%) of people are satisfied with their agent at the time of closing. Yet, only a small number (14%) actually use that agent for their next real estate transaction.
Many real estate professionals close a deal and quickly move on to the next transaction. The truly successful realize their business is one of relationships not transactions. Databases help you maintain and enhance those relationships. If you haven't yet developed a customer relationship management (CRM) system, START ONE TODAY!
5. Invest in Your Profession
The confusion in the current housing market is creating a need for great agents.
Today, you need to:
Know what is happening in real estate
Know why it is happening
Know how to effectively communicate it to clients The last point is most important. You must know the housing market well enough to explain it. As Albert Einstein said:
"If you can't explain it simply, you don't understand it well enough."
What are you doing to enhance your understanding?
