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Everyone is in the same situation- too many buyers, not enough stock, and not enough time to manage your contacts and generate new ones.
As the market continues to boom, we’ve spent the last few years fine-tuning our systems to capitalise on this, using technology to get the job done faster.
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That’s great. We’re all really getting into the swing of things. Bring on as many buyers as you can! You know how to effectively communicate with them, how to efficiently update them, and how to successfully negotiate with them to generate multiple, high offers for each of your vendors. Well done!
But what happens when the market changes?
The cyclical nature of real estate means that we can all expect for prices to slow, potentially decline, or even worse- burst! Buyers will dry up much faster than vendors’ expectations will lower.
Are you thinking today about what you’ll need to manage your business in tomorrow’s market?
Plan now so you can stay ahead of the market and stay on top of the industry.
Establish and maintain relationships with new buyers.
Buyers will remember which agents invested time into them, even when there were plenty of buyers to go around. When those buyers become vendors, they will look for an agent who is willing to cultivate a buyer relationship to encourage offers.
If you’re short on time, it’s easy to use automation to reach out to Buyers. Our automated SMS’s and emails will do the work for you!
Keep Vendors informed.
When the market starts to drop, let the buyers share the bad news to vendors. Collect honest feedback from Inspections regarding pricing, conditions and so forth, and then report that information to your vendors.
With the right technology and processes, generating and collecting buyer feedback and then translating this into attractive and informative vendor reports can all be automated.
Capitalise on a strong, trusting relationship.
Transparency will create trust which means your vendors will value your opinion in negotiations and appraisals.Trust in the process means your vendors will sing your praises. And everyone knows the strongest referral is a personal referral!
Here at ReNet, we help streamline this process with a range of features designed to make collecting and displaying positive agent feedback & testimonials online.
Anticipating what’s around the corner means you can build your systems to be useful in whichever market you find yourself in.
