January 7, 2010

How's the Market?

Happy New Year to all. I trust you enjoyed a wonderful holiday season and have entered into the new year and decade with excitement and optimism?

Like laying down to sleep on freshly washed flannel sheets or opening up that new jar of peanut butter, it's always neat to turn the page on a fresh calendar. It's just so fresh, you can make your mark for all the world to see.

While the question is asked year round, it's these long, dark days of winter where people start dreaming of spring and their minds start to wonder if this might be the year they should buy or sell a home. And what's their first question?

"How's the market?"

Here's a simple to remember, three part phrase for that question which allows you to determine the message the questioner receives as well as control where the conversation goes from there. I learned it from my good buddy John Hamilton and it works like a charm.

What's that? You want to know the phrase? Are you sure you can remember the three easy parts? Okay, well then ask me, "Sean...how's the market?"

  • "It's challenging"

  • "But there are lots of opportunities"

  • "All we need are a few more ________________________________"

All you'll need to do to personalize it for your specific market is to insert whatever it is you might need at the time into the blank space at the end of part three. Maybe your market is overstocked with inventory priced under $200,000. You could say...

"All we need are a few more buyers looking to take advantage of the current Home Buyer Tax Credit. There are some fabulous deals out there under the $200K price point that will make someone very happy."

Maybe your market is in need of inventory for the stable of buyers you're currently working with. Everything on the market now is overpriced or in crappy condition. Try this...

"All we need are a few more listings in the $150K range. I'm working with several first-time buyers and we've seen almost everything that's out there. Not only could I probably match up one of my buyers with a new listings, but I may also be able to help the Seller find a new home and take advantage of the $6,500 tax credit that is available to current home owners until April 30th."

Did you notice that I never had to ask the questioner for business? If they might have something that would fill my need, I just gave them the perfect opportunity to help me. If they don't, I just helped educate them a little more about our current market and showed them that I am knowledgeable and confident in my current market.

It is challenging out there but I firmly believe that for those agents who are willing to put in the effort every day, there are, and will continue to be, lots of opportunities. Now go out there and tell the world what you need.

Remember...keep building relationships...solving problems...and having fun.