Re: what works in a seller’s market? - Posted by J. Clifton
Posted by J. Clifton on February 15, 2002 at 19:54:22:
Short term strategy is to NOT ask agents about what isn’t selling (some agents may tell you everything’s going in 60 seconds, even if it’s a buyer’s market). Concentrate on UNlisted ‘property nobody knows is for sale’—the usual likely-motivated seller situations (divorce, probate, forced sales, out of towners, abandoned, etc.). Or, you could prepare a free public interest article or recorded phone message on “things you really, really need to fix-up before you sell your house,” and place ads about it to attract “pre-sellers” to call you (giving you first dibs).
Long term strategy: Canvas your farm area for For Sale signs, and follow-up in 4-5 months to see if they’re still up. The easiest way to do this is to pick up and archive every local RE adzine and newspaper RE photo section, date and track them, wait 4 months, then canvas the areas to see if they’re still for sale. These are “properties nobody wants,” that positively do not have buyers lined up making offers on them. They may already be the expired listings the reluctant agent won’t tell you about; bottom line, if you show them you’ve done your homework, they can’t pull that “everything’s going fast” line on you. One more way to do this, with online listings, is to sort all listings by date through the search engine, then call up agents about the 10-20 oldest properties.