Low Inventory Market: Ways to Generate Listings
In today's real estate market, listings have been incredibly low, and real estate agents are adapting to ways they can generate listings. It allows real estate agents to use different methods. Here are some ways that any real estate agent would need to create a listing for any situation in the market.
Have a Foolproof Business Plan?
The first step to surviving a changing real estate market is a strong business plan. Your business plan should be data-driven, built for a successful lead generation plan that still has room for future growth and development. Know your trackable goals and plans, focus on consistency, and stick to your schedule alongside a robust lead generation strategy.
Have activities that would get you high results. And it is optimal to focus on prospecting, the sphere of influence, and lead generation will solidify your business foundation to withstand a changing market.
2. Circling Prospects with the use of Geo Leads
Circling prospects is one of the best ways to create leads in a low inventory. People would want to know the value of their home and the trends in the market.
To help you with these, you can use Geo Leads to inform them of the latest market trends and how much equity they have. This is also an excellent way for you to introduce new listings, just sold homes, and neighborhood resources.
3. Call your Expired Listings
A great way to generate more listings is to reach out and call expired listings from 6-24 months ago. You can scout through listings that failed to sell but might be ready to sell at this time around.
Since there's a low inventory, reaching out to expired listings is a great way to get another opportunity.
4. Contact People in Your Spear of Influence Circle
Your SOI and your past clients are an excellent way for you to get the best sources and a referral. Your sphere trusts you, so it will be easier to call them. Having 4–5-minute calls can give you thousands of leads and commissions.
Though it won't give you a business right away, it can be a consistent source of income for you.
5. Utilize social media to Generate Leads
According to Business Insider, between 46% and 51% of adults in the US have been using social media more since the pandemic began. Social media has become more eminent in the real estate industry.
Boosting your social media presence can help you in the low inventory time. Social media is one of the ways to expand your reach.
In low inventory, it is best to find ways to generate a listing. These ways can help you in that journey. For more tips on expired listings, click here
ExpLiMO provides high-quality leads daily and offers a unique opportunity for Manhattan and Brooklyn real estate agents to prospect for expired listing leads and grow their business exponentially.