1. Attack the Expired Listings
There will probably be more listings expiring this December 31st than any other single day in real estate history. We should not let this tremendous opportunity pass us by. These sellers may not have had an agent that was strong enough to price the home correctly. Prospect these sellers and explain what it will take to sell their home in this market and let them decide what is best for their families.
2. Prepare a Powerful Pricing Conversation
Whether working expired listings, FSBOs, new listings or your current listing inventory, it is crucial to have a well prepared conversation concerning pricing. Building a large inventory of salable listings in January will guarantee your success throughout the year - BUT THEY MUST BE SALABLE. Pricing will be the most crucial component of salability throughout the first quarter of 2012. For more on this subject you can read: House Prices: Where They Will Be in the Spring.
In the current economic climate, many consumers are losing confidence in both corporations and the individuals who represent those corporations. We must make sure that we know how to build trust with both our buyers and sellers. Once people realize that we are knowledgeable and truly care, they will more readily trust us and the information we share with them. To help with this you can listen to a recorded version of a webinar we recently did on this subject: How to Build Trust in Times of Doubt.
3. Be Seen As a Trusted Advisor
The combination of falling prices and record low interest rates has made owning a home more affordable than almost any other time in history. Know what the affordability indices (ex. Price-to-Income, Mortgage Payment-to-Income) mean and be able to explain them simply and effectively. Dr. Ken Johnson of FIU has done great research on this issue. To download a copy of a PowerPoint presentation Dr. Johnson recently did on the subject, click here.
4. When Speaking With Buyers, Talk Affordability
We must realize that it is not just the number of people we talk to but the depth of conversations we are capable of having with them. We need to position ourselves as the source of great information regarding the real estate market. We must develop and be able to communicate compelling messages for both buyers and sellers. For additional information, you can listen to a recorded version of a webinar we recently offered: How to Position Yourself as the Go-To-Agent.
5. Become a Go-To-Agent
It was interesting growing up with my dad. He was a very quiet man. But, because of that, you wanted to listen when he did speak. He kept things very simple but, at the same time, what he said was always powerful.
I remember one day dreaming out loud about something I wanted to accomplish. He heard me and asked "What are you going to do about it?"
I looked at him quizzically, not sure what he was asking. He then simply said that the world was full of big dreamers. What the world lacked was BIG DOERS. He explained that what people spoke of doing, in most cases, was far greater than that which they were willing to commit themselves to do.
It was his belief that dreaming should be a right reserved only for those willing to put in the work to make the dream come true. What he said seemed almost harsh that day. As I got older, I realized he was right.
We realized as
we got older that those instances didn't prove that he didn't love us. They
actually were proof he did!
- Steve Harney