Lack Of Homes For Sale, Stop The Insanity! (Part 4)

Real Estate Training & Coaching School

Business, Careers

4.7 • 669 Ratings

🗓️ 20 April 2021

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Todays show is part 4 of 'Lack of Homes For Sale, Stop The Insanity! PART 1 (Open with some rapport, use your FORD elements (Family, Occupation, Recreation, Dreams)...(expect them to ask, 'how's real estate?' "_Bob__, I'm reaching out to all of my friends and clients this week just to share some market news with you so you stay informed. I'm sure you've noticed that there aren't many For Sale signs around right now. This means that a great house like yours typically is selling very quickly and not just for top dollar but in many cases well over top dollar. Your neighborhood is selling for x% higher than last year and typically in less than _x_ days. What do you think about that? (listen to answer) So now that you know that we could likely get at least __ for your home, what does that do to your plans? / Would you like me to prepare a market analysis to see what you could expect to net in today's market?" Note: Even if they say they're never moving, you can still ask who do they know who could use your help buying or selling real estate? Note: If they say the predictable: 'Well, that'd be great but where would I move to?'...move on to Part 2 of the script. "That's a great question and it's certainly on everyone's minds lately. Let's look at a variety of options and see which might be the most comfortable for you... A lot of people are buying first and then selling. With super low interest rates and the likelihood of your home selling as soon as we get it on the market, many people are just buying first, closing and then selling the old home. Some people are choosing to build and then sell. Building buys you time and you get a brand new house with nothing to repair. I've had a few clients instruct me to get them the most for their home and then they plan to travel for 6 months to a year. One of them is trying out a different vacation rental in 4 different cities they're considering moving to. They're really enjoying the adventure. Some of my clients are moving to their own vacation rental or to their own normal rental home so they have time to look around at their options. A few people have cashed out and moved in with family for the time being. They liked option of taking some time to look around. 2 of my clients have cashed out and moved into luxury rental units until they decide what's next for them. Another couple of clients have purchased homes to rehab so they can again take advantage of higher prices and make even more money during this unprecedented time. Either way, everyone seems to want to take advantage of their increased values., so what are you thinking as I tell you all of this? What does this do to your plans?" HOMEWORK: Identify and prioritize EVERY Expired and For Sale By Owner and speak with 100% of them using the script. These are all people who already have their hand up, self-identifying that they wish to SELL! Set a goal and execute on speaking to 100% of your database using that script over the next 90 days or less. If you have for example, if you have 200 people on your list, you can contact ALL of them when you achieve 10 contacts daily. If that's too much, make it 5 contacts daily for 60 days. WATCH what happens to your listing inventory!! Be proactive. Be the LISTING AGENT. The listing agent always wins. Homework: Go to http://1800homehotline.com and sign up for the program. Schedule A Free Coaching Call Listen on iTunes Listen on Spotify Listen on Stitcher

Transcript

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0:00.0	Welcome to Real Estate Coaching Radio starring award-winning real estate coaches and number one international bestselling authors, Tim and Julie Harris.
0:10.2	This is the number one daily radio show for realtors looking for a no BS authentic real-time coaching experience.
0:18.2	What's really working in today's market, how to generate more leads,
0:21.8	make more money, and have more time for what you love in your life. And now your host,
0:27.8	Tim and Julie Harris. Three two one zero. Hey, Julie, we're back. It's April 20th. We're going to pick up where we left off yesterday.
0:40.8	We're talking about stopping the insanity with regards to the buyer's market. And you and I've been reading a lot of articles online, most of which are basically saying we have a lack of homes that, you know, in order to meet demand, there'd have to be essentially
0:54.8	4.2 million new homes for sale. I mean, new construction, resale, doesn't matter what. And
1:00.0	obviously there aren't going to be 4.2 million homes for sale all at once anytime soon. So we're
1:04.9	looking at realistically a long-term, quote-unquote, housing shortage. Builders in some markets
1:10.7	are catching up. We work with
1:12.3	some of the top agents in Iowa of all places, and they in that market, the builders are controlling
1:17.1	60% of the inventory. But really for the most, well, they have land and lots of cheap land and land and land. It's
1:22.9	Iowa, you know? But the moral of the story here is we are in the early throes of what's going to be a long-term
1:30.3	housing shortage problem, crisis, whatever word you want to use.
1:35.3	So the moral of the story for all of you is gravitate towards being listing agents as fast as you possibly can.
1:40.3	And you have to do your part.
1:41.3	So largely what we're doing here is not just ending the pain, but asking you to face reality. This is what's going on. And part of this is, I believe, from a coaching standpoint, due to agents being afraid to have these conversations. Yeah. And we've been talking about this very topic on and off in different forms for a long period of time,
2:01.5	but really at the end of the day, you've got to get real clear in your head.
2:04.1	There is no housing crash anywhere on the near horizon.
2:08.2	For all the reasons we've talked about all of our previous podcast, just go listen to it.
2:12.1	And there's no reason to believe that there's going to be any sort of pivot away from
2:16.0	it being a strong seller's market.
	...

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