We all know that the real estate market has slowed down considerably.
If you listen to the media, you will believe that the real estate market nationwide has collapsed. Just talk to a few people not in our industry and they all KNOW that nothing is selling.
If you listen to some people in your office, you will believe it is going to be really hard to sell real estate for some time.
But you can sell real estate in today’s market. Here are some hints to help you out:
#1. Realize that the market is NOT as bad as it has been in the past! When I started in real estate in 1981, interest rates were at 18%! The only way you could sell a home is if the loan was assumable. Today we don’t even have any freely assumable loans. But assumptions kept the industry afloat in the early 80’s. I can remember when we celebrated when the interest rates DOWN to 12%…..and then 10%. Because I started in that bad market and learned the basics about prospecting for business, I didn’t even realize until after the fact that their was a slight recession in the early 90’s. I was too busy listing and selling homes! So keep a positive attitude. (#s)
#2. Remember, all real estate is local. Some parts of the country are really bad, but the market here in the St. Louis area is much, much better than the bad areas.
#3. Learn the basics of prospecting and keep it going. Send out a mailing at least once a month. Send your mailings to: Everyone you know, past clients and a geographic farming area. Get listings by prospecting on FSBOs and Expired listings.
#4. Make sure you maximize your net income by making sure you do marketing that really works, both in personal marketing and marketing your listings.
#5. Learn how to get leads from a web site of your own.
#6. Make sure your listings a priced to sell.
#7. Make sure your sellers have taken care of any problems the home has.
#8. Make sure your sellers have their homes staged to show fantastically.
#9. Never cut the selling commission on your listings. If you put a listing in the MLS with a low offering to the selling agency, you are decreasing the home’s change of selling. I’m not saying that you can’t have very competitive commission rates. I’m not saying that you can’t have a variety of commission rates for sellers to select from. But do not cut just to get a listing and be sure to pay out enough to make other agents to want to show and sell your listings. This leads to #10.
#10. If you want to increase the chances of selling your listing, offer either a bonus or increasing the offering to the selling agency. Yes, sometimes a “bribe” can really help.
If you have the desire and the determination to do what it takes to make money, you’ll prosper no matter whatever happens in the market.
The author of this article is Linda Grissette. Some of you may remember her as Linda Grayson. Linda is a Broker-Associate with River City Real Estate. She is also the Director of Training. Learn more about how River City Real Estate can help you make more money...even in today's market...browse through this site.
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