Tuesday, January 01, 2008

Four more ways to attract real estate buyers in this down market

I have posted the new rules of real estate survival a couple of times in this blog, and the basic rule is to secure as many listings as possible. However, I have not yet touched on the demand side of the equation. Sure, if you prospect effectively for expired listings you will have a selection of properties to offer the new demanding client, but where do you find that New Demanding Client?

1) Opportunistic investors: Although many feel that we have not yet hit bottom, the investment market is starting heat up again. Many real estate investors (including me) are looking for that next great deal, foreclosure, or short sale. For real estate agents that can help investors with the minutia of buying a property with less than full equity, there may still be business to be had. Consider marketing your services and expertise to the investment market, either for direct real estate services, or even consultation and guidance.

2) Movers looking for a deal: It is true that it is now a buyers market, but that does not mean that there are no more buyers. The truth is that in contrast to three years ago, buyers today have their choice of what to buy and who to buy it through. To capture the attention of these clients, position yourself as an aggressive savings manager with expertise in helping buyers get the best possible deal and the home of their dreams. As for attracting these clients, place ads, co-op market with your local coffee shop, fitness club and small businesses, and host how to buy foreclosure webinars and seminars.

3) Business relocation: If you haven’t explored the opportunities with relocation specialists that service the companies in your area, now may be the time to strike up a conversation. The internet, yellow pages, or HR department of your closest multinational may be able to connect you with the right people.

4) REO Specialist: Both on the buying and selling side, the agents that deal with the banks have a ready-made inventory on discountable properties. Loss mitigation departments may be able to help you out with a listing or two. Also, if you are familiar with the requirements of the banks to purchase REO, you can position yourself as a specialist for both the investor and the movers looking for a deal.

Finally, don’t forget about the 30% discount on Expireds from RedX.


Viral Marketing Values E-book said...

Nice tips indeed, really worth a try.

Jason Hartman said...

Alternatively you can even have a peek into local records for finding more clients. There are always records of people who have been noticed to default or noticed to condemn. The local county recorder’s office usually allows a look at these listings. Real estate investors have been known to hit some real good leads by applying such search tactics.

Linda said...

Interesting article. Very insightful.