If your struggling to sell homes because of the recession, you may be forced to reinvent your business by pursing today's demand. You probably realize that this real estate market is significantly different than the real estate market from two years ago.
To make money in this crazy market, you need to spend some time studying your local real estate market. It is imperative that you understand where the demand is before you run any advertisement or list any home.
For example, don't pick a segment of the market without knowing recent home sale numbers. One agent decided to advertise for listings in a higher price range. This seemed like a good idea because they would earn higher commissions on each sale.
However, this agent should stop and make sure there is money in this segment of the market, before moving forward. My research shows that this price point is probably the worst segment of the market to specialize right now. Homes in this price range are not selling. The demand for these homes has all but disappeared.
1. For homes that are selling today, what styles are they?
1. Which homes are selling TODAY?
3. What cities have the most home sales?
3. What specific areas are these homes being sold in?
4. What types of homes are actually selling?
6. Which agents are doing well in this market?
7. How are the successful agents getting clients?
7. What marketing strategies are agents using to get new clients today?
Use your MLS to study recent sales. Don't waste time looking at active listings. Focus on home sales that have closed recently. Study these homes to find demand in your market. Use the MLS information to direct where you focus your marketing and sales efforts. Prepare new advertisements targeting the prospects who are actually buying and selling homes today. Use the recent home sale activity from your MLS to pinpoint where the demand is for your business.
To make money in this crazy market, you need to spend some time studying your local real estate market. It is imperative that you understand where the demand is before you run any advertisement or list any home.
For example, don't pick a segment of the market without knowing recent home sale numbers. One agent decided to advertise for listings in a higher price range. This seemed like a good idea because they would earn higher commissions on each sale.
However, this agent should stop and make sure there is money in this segment of the market, before moving forward. My research shows that this price point is probably the worst segment of the market to specialize right now. Homes in this price range are not selling. The demand for these homes has all but disappeared.
1. For homes that are selling today, what styles are they?
1. Which homes are selling TODAY?
3. What cities have the most home sales?
3. What specific areas are these homes being sold in?
4. What types of homes are actually selling?
6. Which agents are doing well in this market?
7. How are the successful agents getting clients?
7. What marketing strategies are agents using to get new clients today?
Use your MLS to study recent sales. Don't waste time looking at active listings. Focus on home sales that have closed recently. Study these homes to find demand in your market. Use the MLS information to direct where you focus your marketing and sales efforts. Prepare new advertisements targeting the prospects who are actually buying and selling homes today. Use the recent home sale activity from your MLS to pinpoint where the demand is for your business.
About the Author:
Rob Minton, who reinvented his real estate sales business to sell 269 homes to a limited number of clients, has written a very practical book on how real estate agents can sell more homes For a limited time, you can download his entire book for free by visiting Renegade Millionaire Strategies for Real Estate Agents
No comments:
Post a Comment