It’s no secret that the housing industry is facing inventory challenges right now.
The most recent data from NAR indicates there is a 2.6-month supply of inventory in the US. A balanced market is 4.5 months, which means most areas will have to increase active listings by nearly two-fold to return to normal industry levels.
Until then, the industry will continue to face competition for listings, especially for highly desirable properties that are priced to sell. According to Agent Image Co-founder Jon Krabbe, brokers and agents need to focus on their digital strategy to set themselves apart and generate leads.
“Data tells us most real estate consumers either start their search or verify a business reputation online,” Krabbe said. “Therefore, having a unique and compelling brand and a strong digital strategy is critical to converting leads to listings.”
How can brokers and agents generate seller leads in this tight inventory environment?
According to Krabbe, brokers and agents can generate seller leads by focusing on individuals who want to list their property and buy into a new one, particularly Millennials and Gen X, who started 2022 with $42.6 trillion in wealth and are in prime home-buying age.
So how do brokers and agents effectively market to this audience?
The challenge is that brokerage leaders have to remind agents to market to their audience – which is getting younger – rather than themselves and their peers. And that younger audience relies on digital routes for...
Read Full Story: https://www.realtrends.com/articles/how-to-generate-seller-leads-in-a-tight-inventory-environment/
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