Knowing WHO and WHEN are just as important as knowing HOW

By
Real Estate Agent with Long & Foster Real Estate, Inc., Crofton, MD 21114

Just a little food for thought:  FOLLOW THE MONEY!

 In a Seller's Market, listing is the name of the game.  In a Buyer's Market, selling is the name of the game.  It's as simple as that. 

A Buyer's Market, like we're experiencing today, is a good time for agents to target renters, investors, relocation...  for NON-CONTINGENT BUYERS!  They are money in your pocket (assuming you have an exclusive buyer-broker contract), because they control the market right now.   Send mailings to apartment complexes, to "residents" of homes owned by absentee owners you identify through public records, hold home-buyer seminars, and contact local real estate investors (check the tax records to identify individuals who own multiple properties in your market).  Focus your farm mailings on attracting buyers right now, rather than sellers.  (You might get both - a buyer wuth a home to sell.)  Buyers are the name of the game in a Buyer's Market! (That's why they call it a Buyer's Market.)

Of course some listings will sell, but...  A Buyer's Market is no time to invest your limited resources in FSBO's, expireds, and other listing efforts, just so you can invest more of your limited resources, i.e. time and money, trying to keep your angry and frustrated sellers happy - maybe for months on end - without a sale.  Now don't get me wrong - if a listing falls in your lap, take it!  I'm just talking about the highest and best use of your prospecting time.

You want to work smarter, not harder.  That's why knowing WHO and WHEN are just as important as knowing HOW.

Margaret Woda, Maryland Realtor

Posted by

Margaret Woda, Long & Foster Real Estate, Inc.
Military Residential Specialist (MilRES®)
(410) 451-6245    mwoda@mris.com

Margaret Woda

 

Search for homes and explore the pages of MargaretWoda.com at your own pace and convenience for more information about homes, communities, and the home buying or selling process in Maryland.

 

Information contained in this blog post is reliable on the date of publication, but it is subject to change without notice.

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Tags:
crofton md real estate
margaret woda
remax vision
buyers market
sellers market
agent advice

Comments 25 New Comment

Rainer
18,634
Don Diltz
DRE:01204965
Coldwell Banker
What a different market most of the U.S. is facing than the one we have here on the SF Mid Peninsula.  We are still looking for listings here.  Wish us luck.
September 02, 2007 02:36 AM
Ambassador
875,293
Margaret Woda
Maryland Real Estate & Military Relocation
Long & Foster Real Estate, Inc., Crofton, MD 21114

Sally, your posts are wonderful!  Keep them coming and don't change a thing.

Paula, smart lady!

Candy, i don't think we've met before.  Thanks for commenting, and I'll check out your blogs today.

Don, Good luck!  List 'em AND sell 'em.

September 02, 2007 08:04 AM
Anonymous #23
Anonymous
Anonymous

I am a expired listing specialist and I have had great experiences and a decent flow of closings with them.

In my opinion I think that specializing in expired listings in this market is a great niche. I feel it all has to do with the marketing and pricing of the home!!

September 02, 2007 08:48 AM
Ambassador
875,293
Margaret Woda
Maryland Real Estate & Military Relocation
Long & Foster Real Estate, Inc., Crofton, MD 21114

Maureen - Expireds IS a great way to go.  Plenty of those out there now.  And expireds are usually willing to list to reason when it comes to following your recommendations.  I have never diligently focused on expireds, but I'm sure I oculd learn a lot from you and Katerina Gasset.  Thanks for the reminder.

September 03, 2007 07:31 AM
Rainmaker
340,813
Donna Yates
Real Estate North GA Mountains & Lakes Blue Ridge
Coldwell Banker High Country Realty
Margaret:  You make great points and I haven't thought of it the way you've explained it.  Makes sense.  I've gotten a few listings from expireds but my experience so far is that a lot of the expireds are disgruntled because their house didn't sell the first or even second go 'round.  Thanks for another wonderful post.
September 04, 2007 01:42 PM
Ambassador
875,293

Margaret Woda

Maryland Real Estate & Military Relocation
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Additional Information

Real Estate and community information for home buyers and sellers, military transferees, and rookie agents in the greater Crofton area, including Annapolis, Bowie, Davidsonville, Fort Meade, Gambrills, Joint Base Andrews, Millersville, Odenton, and the U.S. Naval Academy.

EHO



Margaret Woda