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Four Ways to Drum Up More Inventory

Sometimes a homeowner who generally wants to sell can be offered a reason to do so now. Other times, it helps to contact people likely to sell, such as divorcing couples.

NEW YORK – In today’s hot real estate market, it often feels that there are more real estate agents than available listings. With home inventory in short supply, agents need to focus on the listings that are available.

Among the strategies real estate professionals use include:

  1. Looking through obituaries and divorce announcements in newspapers. Digital marketing expert Tyler Zey says, “The real estate reality is that 61% of divorcing couples sell their home to part ways, and you need effective real estate divorce ads to attract those sellers.” To win the business, agents need to not only offer advice on how to sell a home during a divorce but go the extra mile in building trust.
  1. Talk to home builders about the projects they’re working on, as well as homes they are renovating. Martin Orefice, real estate agent and founder of Rent To Own Labs, said it’s an easy way to generate quick leads.
  1. Source out rundown homes sold within the last two years. Mitchell G. David, a Realtor in Maryland, said, “This type of house is generally bought by investors instead of regular home buyers. So all you have to do is reach out to them and say it’s the right time to flip.”
  1. Offer potential sellers a rent-back agreement, which allows a seller to remain in their home for a certain amount of time, paying rent to the new owner as they do so. Some homeowners may fear the bidding wars and competition buyers face, but this could give some of them the latitude to make a switch.
  1. Offer for-sale-by-owner assistance. Veronica Figueroa of the Figueroa team in Orlando said her team offers for-sale-by-owner assistance. The seller may initially think they can do it on their own, but she said it’s important for agents to assert their knowledge and explain how a trusted real estate professional can help navigate them through the process.

Source: Inman (07/13/21) Brandt, Libertina

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