How To FINALLY Find A Home For Your Buyer!

😮 Where's all the inventory?

Author

Tim and Julie Harris
May 09, 2024

HARRIS Real Estate Daily

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Where's all the inventory?  Yes, it's growing, but it's also all selling nearly immediately.  There are buyers who are all cash, loan-committed, or at least pre-approved, anxiously waiting for you to get them what they want ASAP.

Welcome back to America's #1 Daily Podcast,  featuring America's #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris?  Visit: https://whylibertas.com/harris or text Tim directly at 512-758-0206.

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You need two things: to get your buyers in contract and to find more listings for your own inventory.  

In this 2-part podcast series, we will show you how to accomplish both!

PART ONE.

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Before we get to the secret sources and strategies, here are some thoughts to consider:

1.     How well do you know what your buyers are actually looking for?  Are they (or you) being too specific or overly obsessed with certain areas, amenities, or schools?   It may be time to discuss having some flexibility.  Know your buyer client's 'must have' versus 'would be nice to have' criteria.

2.     Stop relying only on your MLS.  This is one method but is no longer THE method.

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Commit to following these strategies for every qualified and motivated buyer (especially those who also have listings to sell), or simply refer them to an agent who will do a better job for them. It's not fair for buyers to not be in contract simply because you haven't been strategic enough to find them something!

The goal of the following strategies is to:

-Find off-market homes for you to list.

-Find off-market homes to sell to your buyers so they no longer lose out to competition. If you want to stop competing (and losing), you MUST find homes they're unlikely to compete on!

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Now for your 20 Strategies to find off-market or hidden listings:

1.     Get more creative with your MLS searches.  If your buyers keep losing out to multiple bids, search your MLS using the same criteria but for homes that have been on the market for more than 60 days, more than 90 days, etc.  They probably won't be competing for those homes.  Maybe they would consider a duplex in the same area, especially if it provides income for them.  Have you had these conversations?

2.     Expand the search for your buyers geographically.  If they say they want 'these three zip codes in Austin,' for example, identify WHY those zip codes and find other areas that have more inventory but feel similar to those zip codes.  Same for school districts, amenities, etc.  Maybe they just like the neighborhood park in that neighborhood, but there's a BETTER one 10 miles away.  

3.     Connect with investors like 'We pay cash for homes' or 'We buy ugly houses' or similar.  Those investors don't purchase every home they're presented with.  What happens to their turn-downs?  These might make good matches for your buyers or even for YOU to flip or turn into a rental.  Find investor groups at Meetup.com or start your own. There are lots of private groups on Facebook for investors and flippers.

4.     New build sales reps can be a goldmine, especially in medium and luxury new construction communities.  They don't take resale listings, and they won't take a home sale contingency.  This means they know who has a home to sell before they can close on the new one!  If they're licensed, pay them a referral fee, and if they're not, give them gift cards or bring them treats.  Aim for 5 relationships like this.

5.     New build sales reps can also tell you which homes are about to fall OUT of contract.  If they don't already have someone to buy it, this is an off-market, new construction listing.

6.     For Rent-by-Owners of single-family homes, duplexes, etc. They advertise their phone number, the script is simple, and it's a business decision for them. They're also a great resource for your wayward sellers who have sold but not yet bought.