Well, isn't that the $64,000 question?
For those of you that remember the 1980s, will recall the interest rates too. Guess what, people still bought homes even while qualifying for a mortgage loan rate in double digits.
Today the market is as tough as it has been in nearly two decades. The thing to remember however is that notwithstanding the challenge of a tight market, people will still buy homes. Employers will still transfer employees, families will still move to be closer to parents, people will move for a variety of reasons regardless of the prevailing economic conditions; it's your job to do your job.
Some things that have helped me:
- I am a professional architectural photographer and use that skill to obtain listings;
- I send expired listings a non-intrusive introduction letter complete with my "Me in 30 Seconds" and "Power Statements" (be specific here). I send this letter out at least one week (two or more is better) after the listing has expired. You in 30 seconds should be no more than three to five sentences and your power statement should be filled with important and pertinent information about your successes. Identify a value, skill, strength, or accomplishment you want to highlight that relates to your objective. Give a specific example, and show the result (use numbers, percentages, dollar amounts to reinforce your claim).
- I photograph FSBOs and develop a "wow" marketing piece and hand deliver it. I never, never, never tell them I have a buyer unless the buyer is sitting in my car waiting to see the home. You will quickly burn any bridges you've built when you are untruthful with a potential client.
- I follow up at with current clients and potential clients at least once a week; more is better when it is appropriate.
- I know when to give up and go on to the next client. My time is valuable, if the potential is not receptive, I move on; you can't get every contract. I think it was either Og Mandino or Napoleon Hill that said we need to know when to stop dipping our buckets into empty wells.
- Don't forget to network. I spend most of my time these days talking to business owners. Guess what, they own homes too. Furthermore, one business person to another is an ice breaker every time. Ask them for their business or a referral and you will be willing to reciprocate. Ask them for permission to put a link to their website from yours (by the way, if you don't have a website, get one - now).
One last thing, I have a favorite quote that I try to pattern my life after. "Do more than belong, participate. Do more than care, help. Do more than believe, practice. Do more than be fair, be kind. Do more than dream, work."
I hope this helps.