How do you get more listings in this market? Here’s a technique that’s worth trying.
Once or twice a year, send every homeowner in your database a CMA. Go on the MLS, do a CMA, print it out, and mail it with a little note attached saying something like this:
“Hey John, home prices in your neighborhood are going up, up, up! I want to let you know that your home has increased in value, and here are the market numbers, as well as a few options on how to proceed. It might be a great time to refinance, buy an investment property, or move up or down into another home.”
You might be surprised at the responses you get. Even if you don’t get responses right away, keep in mind that you’re building future customers. If you do this for a couple of years, when the time is right, the person who’s been ignoring you will reach out to you when they’re ready to sell because you’re the agent who’s been keeping them up to date on their home’s value.
This is a long-term play. In real estate, people often overlook the importance of time and investing in their future. Plus, you’re doing what you should be doing as a professional: Keeping the people closest to you updated on the real estate market.
If you employ this tactic and start seeing results, let me know! I always get excited seeing someone get the results they’re looking for. If you have questions about this topic, don’t hesitate to reach out to me. I’d love to hear from you.