REAL ESTATE TOPICS

Fewer Homes For Sale Means More Competition. Are You Winning?

By Rebecca Chandler

Recent housing reports indicate that in many markets, listing inventory is low and homes are selling quickly. Good news? Kinda.

Sure, buyers are more willing to move more quickly and prices may be increasing as supply decreases, but lower listing inventory also equates to fewer closed transactions. There are simply fewer homes to sell. This means that the competition for available market dollars is higher.

For those who have been through this type of market before there are some lessons to learn – Specifically, in this scenario, who wins?

Agents who win listings. Any agent can work with buyers and get half of the available commission dollars and when buyers are abundant, it’s more about finding the home than finding a buyer, so agents with a steady stream of listings and buyers win more market dollars.

Good listing agents know that during times of low inventory, marketing their listings is much more valuable in terms of getting and keeping listings than about generating buyer leads. In other words, it’s about generating seller leads.

How do they win? They create winning personal brands. Selling your most treasured and valuable asset –your home – is critical, not only financially, but emotionally. Sellers want to work with a professional agent who will not only help them quickly get the highest price for their home, but also deliver with the lowest level of stress.

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Winning listing agents promote their brands – heavily – so that potential clients have a level of comfort in the idea of doing business with them. Sellers perceive that professional agents produce professional results. Top listing agents deliver their professional brand message over and over everywhere a potential clients looks – especially on the streets of their home town. They do not sit and wait to be discovered in a Google search mission. They reach out and find local clients – on the real streets of their real town.

Winning the appointment doesn’t necessarily mean you’ll win the listing. Even agents who get a good number of listing appointments are still competing. Their listing presentations include services and value that not every agent is willing to deliver.