By Paige Brown
In the latest RISMedia webinar—“How to Increase Listings in a Low-Inventory Market”—panelists Ron Howard, associate broker and team leader of RE/MAX Advantage Realty and senior coach at Workman Success Systems; Denise Klein, team owner and success coach at eXp Realty - The Klein Team NV and senior coach at Workman Success Systems; and Jess Cave, growth marketing manager at BoomTown, discuss strategies and tips for real estate professionals to increase listing inventory even in the toughest low-inventory markets, and how to reach potential sellers when facing an inventory shortage.
The webinar was sponsored by BoomTown and moderated by Verl Workman, CEO and founder of Workman Success Systems.
Key takeaways:
Panelists offered some top tips for how real estate agents and professionals can thrive in business, despite limited inventory:
- Host events to create opportunities to connect with new leads and grow your sphere of influence (SOI).
- Utilize farming campaigns, such as farming letters or videos, to reach new potential sellers.
- Reimagine traditional real estate and think of yourself as a “real estate options dealer” to best serve your clients, regardless of opportunity.
- Leverage technology to free up resources, grow your business and ultimately, invest more time in your Top 50 and SOI.
Here’s what our esteemed panelists had to say:
“My top 50 is the best of the best of my sphere of influence. We are reaching out to them monthly—phone calls, texts, lunch, breakfast or dinner—you are taking care of those people because they represent a huge percentage of your business if you do it right. The core things about these clients is that they know you, they like you, they trust you, and they will run across the room to talk about you.” -Ron Howard, associate broker and team leader of RE/MAX Advantage Realty
“For people that are waiting for the market to come back, for it to be pre-COVID, it’s not happening. It’s not about lead generation—let technology do that for us. Reinvest your time into the relationship. It's really about getting to know the people that are on the other side of automation. It's time to start thinking more innovatively and creatively. If you’re sitting there thinking about traditional real estate, I ask you to rethink.” -Denise Klein, team owner and success coach at eXp Realty - The Klein Team NV
“The past few years have been unlike any other in real estate. Agents are facing a competitive market. There’s a lot of buyer critique out there, and BoomTown is providing unique programs and incentives to win those listings. For agents, there’s little time to prospect and generate opportunity, so BoomTown clients are calling their database—based on key buying and selling behaviors—to go ahead and service those leads that we know are ready to transact and move right now. All in all, our clients are not playing victim to this market, they are simply reacting to these new changes as they come and seeing around the corner and looking for opportunities to grow for the long haul and find success on a larger scale.” -Jess Cave, growth marketing manager at BoomTown
For more information on how you can thrive in a low-inventory market and increase listings despite limited supply, check out the full webinar here.
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