Of all the categories in your database the two most important are your buyer and seller hit lists. Active buyers and sellers are primarily important because these are the people you will be doing most of your business with, and this year’s market will be presenting you with some new challenges and details to watch for.
You need a system for determining which of the buyers in your database are still interested in buying property within your market. Many buyers are finding that the values of properties in their initial areas of interest are not what they expected and start looking in other markets for acceptable properties in their price range.
The best way to know who is on board with you is by calling them ten days after the open for inspection, then again when the property sells to find out if they’ve bought something else or are still looking within your market. And make sure the buyers you spend time on have been fully approved by their bank and are able to buy.
With sellers you should determine if they are in red light, orange light or green light mode and focus on clients you know are prepared to work with you. Call these people regularly with new listings and sales, plus open for inspections and auctions, and keep tabs on their why, how and when situation.
Project beyond immediate listings and plan ahead for those who are likely to come to market 30, 60 or 90 days from now. Watch for those future opportunities and know ahead of time which sellers will likely be coming to market later in the year.
Working your market effectively is all about being able to search your categories and get the reliable information you need when you need it, especially for these vital buyer and seller hit lists.
I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.