Many Rainmakers are sharing with us a new reality for sellers. Only sellers who are not buying another home are being hit hard by this market. Some sellers are still hung up on their neighbor who got thousands more a year ago.
In this market Rainmakers want motivated sellers, where you don’t waste your time arguing about the need to improve their price (“new price,” the Rainmakers call it, not a “price reduction”), and not be a social worker to console them. Many markets are saturated with homes for rent, thus sellers must be serious.
Who are the best sellers? Rainmakers say the best sellers bought three years ago or more and now still have equity. What they may lose on price, they’ll make up on the purchase price of the next home. Rainmakers call it “future equity” that will multiply larger when that next property sells. That’s the opportunity of a down market.
How do you find these sellers? Ramp up your lead generation. Then qualify. Dig. Qualify. Dig. Peel back the layers of the onion to find their true motivation. Work with the truly motivated. Refer the rest. Focus on what’s good in your market — what type of properties ARE selling? Avoid the negative. That’s how Rainmakers are filling their listing book with serious sellers.
What’s working for you? Join the conversation!
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