Low Inventory Market? Listing Generation Strategies You Need To Know

Mortgage News February 12, 2023

To maintain and grow their listing inventory, real estate agents need to adapt their strategies and tactics as housing inventory declines nationwide.

In order to improve their business, agents should proactively develop a strategy for generating new listings and consider implementing at least one of the following tactics.

Consider multi-property investors

Investors in this market fall into two categories: those who want to cash out and those who want to double down. Agents can obtain access to multiple new listings from investors who are ready to cash out. These investors want to maximize their returns.

While investors who are ready to double down and expand their portfolios might not offer listings, they will transact nonetheless! Once you’ve built a relationship with them on the purchase, you’ll definitely get their listing when they decide to sell.

Finding investors who own multiple properties in your market is the easiest way to get investor business. Identify rental properties in your area and search for their owners. The owner may own more than one property if you dig a little deeper once you find them.

Follow up on withdrawn and expired listings

Recent real estate agents have not had to negotiate difficult price reductions with sellers, let alone multiple price reductions. Due to this, many homes that are truly sellable have been withdrawn from the market or expired.

Strong negotiation and communication skills will be crucial in dominating this market throughout the year.

Make the most out of marketing tactics

Your reach and audience can be expanded through marketing tactics such as Google Local Service Advertisements (LSA). In addition to reaching those inside your current market, these ads can reach people outside it as well.

Make sure your Google reviews are as good as they can be. The agents with the most highly rated reviews stand out from the crowd.

Markets with low inventories do not necessarily mean a lack of opportunities. Innovating their strategies, being proactive, and staying consistent will help agents find opportunities.

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