There appears to be one significant factor that can derail this crazy train of sales…inventory. I know, it’s not exactly a news flash to the Realtors in the audience. But seriously, it’s the inventory. Of the 292 Active Listings noted in this report, only 162 are NOT Active/Backup or Pending. We have closed 156 units in two of the slowest months of the year, so this means there are approximately 2 months of inventory. The Predictor shows that we should close about 101 transactions in March, but I hardly feel that is possible with so little available. As a habitual problem-solver, I have some old school ideas listed below for you. Please consider doing something; if not something on this list, then make it something you are comfortable doing. They key here is to DO.
Be a deal-maker! If you hear someone in your office looking for a ranch in Southmoor Park under $200,000, don’t just wish them good luck. As yourself “Who do I know in Southmoor Park?”, and then call them. Ask them if they know any neighbors who might want to sell, get a name and call that person, if she doesn’t want to sell, ask them if they know anyone else and follow that lead. Then go over to Lowe’s and hang out in the paint department and ask for peoples’ advice on your paint choices. When you get to talking, find out why they are there…maybe they are doing some touch-up in anticipation of moving. Next go to Bed, Bath & Beyond and find the lady who is in charge of the Bridal Registry. Couples who get married may need to sell one or two places to make a new family home, or maybe they are first-time home buyers…make friends and get referrals. Next stop is Target and the lady who handles the baby shower registry. Next stop is your family law/divorce attorney. Swing by Left Hand Brewery to get a Growler to go home with you because you will need it after your last stop at all the garage sales in your neighborhood. Meet your neighbors, find out why they are having a garage sale and invite the over for a beer.
Tell me you won’t have a few leads after that Old School Tour of Longmont. There is absolutely no down side to this idea. Your job is lead generation, this will jump start your whole year. If you get a little creative and push through some of the uncomfortable-ness of these situations, you and your business will benefit from it in the long run. Also, consider holding open houses just to meet the neighbors who may be thinking of selling… and get Old School.
Have a great March.