Who else wants to turn a lemon into lemonade? This down market is affecting all of our businesses. But, we can either fight it and lose business, or embrace the changes in the business and prosper. Now, don’t get me wrong, I’m not saying we should start thinking negative on the market, but rather that we should look at what is working for agents and sellers in today’s market and start using them.
After yesterday’s e-mail (where I’m sure I caused some people to think that I used to get “beat down” by my older sister) I am talking about another controversial subject. I remember when the market started to shift and a lot of my listings started to expire. Other agents would list them and pocket the commission. There was this one house where the seller and I were actually pretty good friends. He refused to reduce his price. And he listed with someone else and they sold the house. Aarrgghh! That was really frustrating. But, you know what
The other agent just so happened to be more persuasive about market than I had been. See, I had never been thru a down market before. I didn’t believe that prices could even possibly decline. But, after losing that commission check I decided to learn from my mistakes. I started to look at how my listings compared to other homes for sale. And, if another comparable house came on the market that was a more attractive deal for a buyer, I would let the sellers know about it. My listings started to sell again. And, looking back, those sellers got very good money for their homes.
If you’re looking for opportunities to earn a commission in today’s market here is what you can do:
1. Assist foreclosures that can no longer afford their home to sell it, get out, and put the most money in their pockets. I know a lot about foreclosures from personal experience. When I was still in high school I knocked on foreclosure doors to try to buy their homes. I have knocked at least 600 to 700 doors in my time. These people require an approach that is helpful. If they see you as someone who is just trying to take advantage of them, they will slam the door in your face.
2. Assist Expireds to sell their home. There are a lot of expireds that are looking for answers. They are wondering what went wrong last time, and how they can fix it.
These are the best options I see to make money as an agent in today’s market. The key is to find the motivated sellers for whom it is more important to them that they get the home sold, than it is to squeeze every single penny out of it.
Now, you can buy my letters I have for expireds and foreclosures. I have the link to do that below. But, if maybe you are skeptical, don’t have the money, or who knows what, here are a few ways you can tap into this market without my letters.
Go knock on the foreclosure doors. Or call them. Here is what you say to get the conversation started with a foreclosure. “Hi, my name is Ben Curry with Keller Williams Real Estate. I had heard that your home was in foreclosure and wanted to call and see if there is anything I can do to help.” Please note the word “Heard.” I used to say “Notice.” A lot of people would get angry when I said that word. It’s all about perception in their mind. Let me show you what I mean.
When you say “Notice”, you sound like the “Vulture Investor” who is going thru the public records at the courthouse trying to find homeowners you can take advantage of and “steal” their home. Contrast this to “Heard.” That word can mean anything. Maybe one of your friends knows about this person somehow. Maybe you were at a social function and someone mentioned they knew so and so was losing their home. As an agent, you knew you might be able to help, and you decided to call them as a courtesy
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Ben & Chris Curry The Short Sale Agent's Advocate
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