You have a buyer and the buyer has a pre-approval letter or cash in the bank to purchase a home, great! But what happens when there are no listings or when properties fly off the market faster than you can even email them to a client? If you’ve worked in NYC, DC, SFO, or a similar hot real estate market you’re used to this predicament. But with suburban sprawl increasing and demand for space growing, a lack of inventory has become a reality across the USA.
Don’t worry, we’ve got you covered!
Below you’ll find five ways to find off-market listings as well as properties to keep buyers happy and your database full.
Network With Lawyers, Recruiters, HR Teams
Lawyers (specifically divorce attorneys and attorneys that specialize in wills) will know when a couple is about to split up and likely to sell their home. Recruiters and HR teams also regularly help people relocate as their jobs change.
Maybe it’s an executive moving to a new office across state, or a person who recently died and the heirs want to sell the house to cash out. Think about other types of professionals that work with people in life changing circumstances and contact them once you have a buyer to see if they know anyone that needs to sell their house but does not have time to find an agent and list it on the MLS.
Builders, Contractors, and PUD Communities
Has it been a while since you toured a community and talked to the managers? Now may be the time to go back. It never hurts to network in these communities as homes come and go quickly.
By becoming familiar with the amenities you can talk them up to your buyer vs. having the buyer immediately say “No.”. Plus, people are always moving in and out which can give you a heads up on what may be coming onto the market. If you can build a reputation as the agent with active buyers, you may get new sellers calling you vs. having to source them on your own.
Buy Ad Space in Local Magazines With Real Estate Features
Here in the DMV area we have plenty of local magazines like this. The Washingtonian and the Washington Business Journal are prime examples.
If you have people on the fence about selling and they see you have active buyers, purchase an ad space and publicize this. Just make sure you don’t come across as someone looking for a fix and flip deal as you’re looking for move-in ready homes and not bargains that needs some love and attention.
Partner With Financial Advisors
Much like the first tip, financial advisors know when their clients will be retiring or making similar life-changing decisions. Once their clients are ready they’ll likely be moving to another city or state. That means they’ll want to move on from their current house and be on the way to their golden years quickly.
If you can become the trusted agent at a large investing firm, you’ll find your phone ringing and will already have the sellers’ trust since you were referred by the people they have relied on to safeguard their finances and retirement.
Combine the Above
If you know what your buyer wants, and you’ll be getting more buyers like them, become the trusted agent in your community by combining the strategies above. Sponsor breakfasts and happy hours for people in large condo buildings and planned communities. Then hand out something the community members can use like a branded coffee mug, a phone accessory like a charger, or something else they won’t throw out.
Now make sure to get their email address and market back to them via Facebook, Google, and email (while staying CANSPAM compliant). If you’re successful in this strategy you’ll begin getting calls as people in the community start getting ready to move.
Busy markets are tricky ones to conquer. But with some traditional and creative marketing techniques, you can still find listings to keep your buyers happy.