Imagine owning an ice cream shop and only selling vanilla ice cream??? The same question can apply to housing inventory. What does your listing inventory look like? There are agents who have the same type of listings on their shelves and seem to stay with marketing that type of home. Have you taken the time to examine exactly what you continually attract for inventory to market?
I try desperately to maintain a balance of homes that range from handyman specials to luxury homes. We have more than our share of new construction and that helps us to provide diversity with our listings. There are some agents who continually offer low end priced homes, and they can’t seem to work their way to other categories to increase their income.
It’s to your advantage to do niche marketing to capture a mixture of housing categories. Low end priced homes is a good offering today, but there is a market for homes of greater magnitude. Luxury homes are not as popular right now, and when one comes on the market, it must be offered at an affordable price point. It’s a sign of the times, unfortunately, but everything sells at the right price!!!
Variety of inventory is the key to maintaining a consistent flow of transactions. It will require more advertising, but your phone will ring at a steady pace. If you only have one type of home in your inventory, your buyer pool will be very small. Assess what you have and fill in the gaps with a greater offering of homes. More sales will follow!!
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