Shifting Market Opportunities #325
Hello and welcome to Debbie’s Daily Tips. Today we’re talking about shifting market opportunities.
What are some of the opportunities that a shifting market can present? One can be the opportunity to break into higher-end expired listings because you see, when the market makes it not as easy to get the home sold, what you’ll often see impacted first is the higher-end properties. Oftentimes what happened is that an agent overpriced the home initially, didn’t work their price reductions, and these properties ended up expiring.
Now the great news about it is this. There’s an old saying that you’re better off to be the first born, the second wife, and the second or third agent on an expired listing. Why? Because the seller is potentially more ready than before to take your wise advice as an agent. Expired listings, especially the higher-end, in a shifting market can be a great opportunity.
Now for sale by owners, they can also be a great opportunity. When the market is red hot and they can put a sign in the yard and it can sell right away, you’ll find that they may not be as flexible or as open to paying a commission. Based on that, when we go into a market cycle where it’s harder to get that home sold, those owners may now feel they need your knowledge, your expertise, and the results that you can bring to the table.
Also with a shifting market, you might find that some of your past clients and sphere of influence become much more interested in potentially buying investment properties. So why not talk to them and, if they have equity in their home, ask if they would like to pull some of that out and do something to build their retirement, their nest egg for their future?
Remember, there is always opportunity in every new market. Just find that niche, that way in, and find what is most attractive and most comfortable for you. Do one thing every day that scares you. So, in other words, why not get out of your comfort zone today? Try something new.
Make it a great day. I’ll look forward to talking to you very soon.
If you are a real estate agent or broker that is looking to for more insight and direction on how to get more listings, sell more homes to your investors, and work with more buyers, then this podcast is just for you!