Are you a REALTOR in a market with low or no listing inventory? Are you finding sellers are resistant to listing their home in fear it will sell quickly and they will have no-where to go? Do you hear that sellers can’t find what they are looking for because the selection is so low but they can’t buy because they don’t have their own home listed and sold?
So how does an agent today deal with this vicious cycle where sellers are not selling, they can’t buy because they don’t have their home sold and there is nothing to buy and it is sold too quick so we are planning on holding until the market changes? We are seeing a trend in so many real estate markets where the seller is in control of the market and buyers are having to snatch up a good listing quickly and pay top dollar for their home but we can’t meet the demands of the market unless we solve the problem of getting the product to market. We have all heard the sayings “talk is cheap” and “don’t tell me, show and sell me.”
There’s a powerful sales tool and visual to start handling the fear, challenge and problem of sellers not listing and therefore not buying because they are in a market that requires them to have their property sold (or pending at least) first! Here is a solution for today’s market challenge called “The Home Sellers Protection Plan” and now we as agents are able to market and list their home for sale on the MLS system and protect and ensure their home does not sell from underneath them leaving them homeless with nothing to buy or move into to.
If you click the link below you can see a sample Home Sellers Protection Plan document giving you an idea of how you can create your own similar visual aid for your clients.
Add the contingencies mentioned in the above PDF to the schedule A of their listing agreement. This is a visual tool agents can use to “show and sell” the potential seller and create more listing inventory in our markets which in turn creates more sales. Use this tool with your database of clients and educate them, get someone off the fence who has this fear to finally list their home. Use it for an expired listing to get them to put their home back on the market again and handle the fear of being homeless and nothing to buy objection. Use it at you listing presentation as part of your marketing plan for them to feel secure to list right away, even though they don’t have something else to buy yet.
I trust this powerful tool will begin to break the cycle in your market and allow you to overcome the objection and fear of the sellers and begin to provide some inventory to the market place and start to see more sellers becoming buyers. We would love to hear any other strategies you are using in your own markets where you are having similar challenges please post or comment below and share your ideas and strategies with all our AgentSalesTalk followers.