Create Your Own Inventory

Think of all the people you look up to. Now think about why you look up to them. I can guarantee it's not because they waited for greatness to drop in their lap. Take Lin Manuel Miranda for example, when he started out in theatre he wasn’t getting cast, his talent wasn’t being utilized. So he built the play that needed him. He created the space for himself to shine. How are you creating your own opportunity today; your own space to shine?

Here’s how a few leaders in the Hero Nation Community are building their own stage and creating their own inventory in this super low inventory market.

1. Work Backwards

Find your own inventory by reverse-engineering the perfect house search. Start by using tax information to identify potential homes that would meet your client's needs. Now that we have a small working list, do a drive-by of the properties so you are well informed of all the benefits for your client and this home (i.e. the neighborhood) matches their needs. Now, get brave enough to knock on the door or call the homeowner and say, “Thank you for taking my call today. I have a potential buyer who loves this neighborhood, would you be interested in selling your home?”

2. Be a Financial Friend

Be the solution to your client by approaching them with a financial advisor mindset. Showing clients there is financial gain in listing their home now provides them a pathway to increased wealth. Empower them with the knowledge to turn their listing into money and show them an ROI (return on investment) when they are poised to sell.

3. Forbearance Doesn’t Mean Forever

Leverage yourself as the helpful person you are by finding people coming out of forbearance. Show them the win if they sell now and rebuild their finances. Find these potential clients by utilizing your favorite loan officer or obtain a list if it is available in your state.

4. Zillow is Your Frienemy

Don’t hate, appreciate that half the work is done for you already. Use Zillow (or other similar websites) to find rental properties listed by the owner and make those calls! Informing them of the value of selling can gain you a  listing or a potential listing down the line.

5. Neighborhood Stats

Use the facts to your advantage. Pay attention to houses on the market that are selling in specific neighborhoods.

When a property sells find out how many offers the house received and how much it sold for. Use this information while door-knocking to present potential buyers with future gains. If you are able to present a clear picture of the market and financial gain you are more likely to pique interest.

“If you’re interested in selling, let me give you some information about the last property sold in this neighborhood. It sold for _____ in about (time frame).”

6. Be the Change You Wish to See in the Market

Change the narrative of negativity in real estate by being a social media HERO. Use your social media as a database and remind people what you do and how you do it. Gain clients by being your true, positive, and helpful self.

7. Specific Marketing

Use social media, digital billboards, or your favorite marketing tool to share specifics about properties you’re looking for or selling. Don’t just say “I have a buyer,” say “I have a buyer looking for a three-bedroom and a backyard.”

8. Start the Conversation

Don’t take no for an answer. Help potential clients see the future by coaching them through future goals. Ask them where they would want to move. It keeps the conversation open, less about sales, and more about the person. It tells the property owner you’re here to be helpful.

9. Be the Solution

After someone sells their house, where do they go? Provide a list of places to live that you recommend for your client making their transition easier and less stressful.

Take this idea to the next level by building your own wealth and invest in rental property apartments that you sublet to your clients.

10. Work Your Network

Building a large sphere is crucial to building your own brand. Build a group of trusted agents all working with off-market properties to build a bigger pool for you, your clients, and each other.

You’ve built the network now, use it!

WAYNE SALMANS is an author, speaker, and business coach. In the past decade, he has coached and trained over 6,000 entrepreneurs, awarded 30 under 30 by REALTOR® Magazine, and ranked one of the top coaches in the world.  His passion is coaching business owners to build, grow and scale their business, faster and with fewer bruises. Hero Nation Community Contributors: Bradley Allen,  Kelly Kilmer, Anthony Mosley, Virginia Franzeze, and Jean Christenberry

This article, written by Wayne Salmans, originally appeared in the May 2021 issue of Tulsa Real Producers. Follow them on Instagram and Facebook.