In a low inventory market, sellers enjoy growing or recently recouped equity and are ȴQDOO\�LQ�D�SRVLWLRQ�WR�JHW�RXW�RI�XQGHUZDWHU�PRUWJDJHV��EXW�PLJKW�VWXEERUQO\�KROG�RXW�IRU�D�SUHPLXP�VDOH�SULFH��+RPH�EX\HUV�W\SLFDOO\�IDFH�D�KXJH�LQYHQWRU\�VKRUWDJH�LQ�PRVW�PDUNHWV�DQG�PLJKW�PDNH�FRPSHWLWLYH�RHUV�RQ�KRPHV�RQO\�WR�NHHS�IURP�ORVLQJ�RXW�WR�RWKHU�ELGGHUV��

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/RRN�IRU�H[SLUHG�DQG�ZLWKGUDZQ�OLVWLQJVA good agent will scour the MLS for homes that were listed in the past but never sold. Many homes failed to sell because they were seen as overpriced at the time. Does their last list price seem like a reasonable price today? Chances are, the owner doesn’t realize how much the market has picked up and might still be open to selling the home before the glut of inventory increases the competition for buyers. Contact the owner and express your interest in helping them to sell their SURSHUW\�ZKLOH�LW�VWLOO�FDQ�EH�SURȴWDEOH�IRU�WKHP�WR�GR�VR��([SODLQ�WR�WKHP�WKH�EHQHȴWV�RI�selling their home in a growing market; when they see that there’s a limit to how long they might be able to sell at premium prices, you will likely get a response (see graph at right).

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U.S. For-sale Inventory

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&DSWXUH�VHOOHU�FRQWDFWV�DW�RSHQ�KRXVHVOpen houses are a great way for real estate agents to meet new buyers. Have you thought that these buyers could also be potential sellers? 0DQ\�ZLOO�OLNHO\�QHHG�WR�VHOO�WKHLU�KRXVH�ȴUVW�before buying the next house. Download the Open Home Pro App on your tablet, then use it at your next open house to check people in and collect contact information from them. The most valuable questions asked on this app are: “Do you have an agent? Do you have to sell your house before purchasing the next one?” Using this tool at open houses allows you to meet, qualify, and connect with potential home sellers.

6HDUFK�=LOORZȇV�0DNH�0H�0RYH®�SULFH�KRPHV�Have you checked out Zillow’s Make Me Move functionality? Make Me Move allows home owners to indicate a price that would make them sell. You can use Make Me Move for a variety of reasons. Perhaps the potential sellers are not quite ready to sell, but are testing the market. Perhaps it’s their dream price. Some sellers can be unrealistic in their pricing, but regardless, they are exploring the SRVVLELOLW\�WR�VHOO��<RX�FDQ�ȴOWHU�OLVWLQJV�RQ�=LOORZ�E\�VHDUFKLQJ�IRU�0DNH�0H�0RYH�KRPHV�LQ�\RXU�neighborhoods. Pick up the phone and have a conversation with the home owner. Tell them you are a real estate agent who represents a lot of buyers and you are interested in checking out their home. It could lead to a face-to-face appointment with a potential seller!

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%RQXV�WLS��8VH�VRFLDO�PHGLD�WR�ȴQG�VHOOHUVIf you really want to get creative, search Twitter for #LookingToMove, #INeedToMove and #IWantToMove, and see what comes up. Yes, you might get tenants complaining about their landlord or someone on vacation wistfully VKDULQJ�WKHLU�GUHDP�YHQXH��EXW�\RX�PLJKW�DOVR�ȴQG�D�VHULRXV�EX\HU�RU�WZR�ORRNLQJ�WR�ȴQG�WKHLU�QH[W�KRPH��ΖW�RQO\�WDNHV�D�IHZ�PLQXWHV�WR�VHDUFK�7ZLWWHU�IRU�WKHVH�KDVKWDJV��EXW�WKH�SD\R�FRXOG�EH�LPPHGLDWH�DQG�KLJKO\�UHZDUGLQJ�

([SORUH�UHQWDO�OLVWLQJVThink about the scenarios in which a homeowner might want to rent out their property: job transfer, divorce or life change. But in most cases, they are renting out because WKH\�FRXOGQȇW�DRUG�WR�VHOO. Their home could have been underwater, or the market simply wouldn’t support the asking price. Instead of listing it with an agent, they decided to rent it and “ride it out” for a couple of years. Here’s your opportunity to inform them the market has changed and that now it’s a great time to sell.

7DUJHW�PRYLQJ��HVWDWH�DQG�ȊKXJHȋ�JDUDJH�VDOHVWhen was the last time you looked for “moving sale,” “estate sale” or “HUGE-ENORMOUS-MASSIVE garage sale” in the local newspaper or on Craigslist? Yes, the kinds of sales where people are trying to get rid of their junk and furniture. Alternately, it could be that they’re moving, that the owner has passed and the heirs can’t maintain it, or that they’re cleaning house to accommodate an impending and major life change. Run their locations in the MLS and see how many are listed for sale. Find out the stories of others that are not OLVWHG�IRU�VDOH��*LYH�WKHP�D�FDOO�DQG�RHU�WKHP�D�free home value analysis report. This can lead to solid seller contacts.

3URVSHFW�SDVW�FOLHQWV�RI�\RXU�IRUPHU�UHDO�HVWDWH�FR�ZRUNHUV�'R�\RX�ZRUN�LQ�D�EURNHU�RɝFH"�7KHUH�DUH�UHDO�HVWDWH�DJHQWV�ZKR�OHIW�\RXU�RɝFH��ULJKW"�*R�WR�\RXU�EURNHU�DQG�DVN�IRU�WKH�ȴOHV�RI�SDVW�EX\HU�FOLHQWV��&RQWDFW�WKHVH�EX\HUV�DQG�LQGLFDWH�WKDW�\RX�DUH�taking over for agent John Smith, and ask them what their real estate needs are. Some of them may just be in the transition to move.

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)LQG�WKH�HPSW\�QHVWHUVFilter your data source and narrow in on large properties that are 5+ bedrooms, 3,500+ square feet, and two-story homes that were purchased ����\HDUV�DJR. What’s the likely scenario here? A couple who bought a big place for their three children to grow up in and now the children have moved out. The empty nesters are ready to downgrade and move into something that’s more convenient and suitable for their new lifestyle. Help them with this transition.

6HQG�D�KDSS\�DQQLYHUVDU\�FDUGDo you remember your home buyer clients from 5, 7, or 10 years ago? Send them an anniversary card; congratulate them on their 5th/7th/10th year in their home and tell them that you’re thinking about them. Nurture your past clients and see if they are at a stage of their lives where they’re ready to trade up to the next house. If they are, you are in luck! If they’re not ready, ask if they know somebody who is.

.QRFN�RQ�WKH�GRRUV�RI�ȊIRU�VDOH�E\�RZQHUȋ�KRXVHVDo you see “for sale by owner” signs in your local area? Are you afraid of knocking on the door and asking the homeowners if you can help them sell their house? We get it—no one likes rejection and no one wants to be seen as a door-to-door salesperson. But try this approach: knock on the door and say: “Hi, I saw that you’re selling your home. I think I might be able to help you. Would you like to talk?” Ask questions like: “How are you advertising your home? Do you need help in handling the paperwork or showing the property?” Perhaps your conversation can demonstrate the value of having a seller’s agent instead of selling the home themselves.

)LQG�R�PDUNHW�RU�SRFNHW�OLVWLQJVIn many markets, real estate agents regularly network with each other about potential deals. Some DJHQWV�VKDUH�R�PDUNHW�SURSHUWLHV�ZLWK�HDFK�RWKHUȃRWKHUZLVH�NQRZQ�DV�ȊSRFNHWȋ�OLVWLQJV��$OVR��EURNHUDJH�ȴUPV�JHQHUDOO\�UHOHDVH�XSFRPLQJ�OLVWLQJV�WR�WKHLU�DJHQWV�D�IHZ�ZHHNV�EHIRUH�WKH\�KLW�WKH�MLS. Work with a well-connected agent and make sure you’re privy to these potential opportunities.

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