How to not get sacked when sellers are stressed

These last few months have been ROUGH as a listing agent. We currently have $25m worth of completed new construction or resale homes that are SITTING on the market with little to no activity at all. Agents are ghosting us when we ask for feedback, mainly because their unmotivated buyers are ghosting them. 

Hopefully this week’s half point fed rate cut will give us the boost we need to get these homes to the closing table by year’s end…if our sellers don’t decide to “go another route” first. 

It doesn’t matter how good you are, or how much better your marketing is, etc. when clients aren’t getting the results they want their natural inclination is to put the blame on the only thing they can control…the agent representing their house.

Here’s what our team is doing right now to ensure we aren’t on the chopping block:

1. Over Communicate: it’s normal to want to avoid conversations that are awkward or disappointing. But sticking your head in the sand is the WORST thing you can do. I guarantee you: if you’re not talking to your seller, another agent is. Schedule frequent calls with them. Not texts- calls! Even if there’s no good news, it shows you’re still engaged and care.
2. Data Dump: more than ever, you need facts and figures to show what’s actually happening in the market. This week one of our sellers insisted that practically every house was selling other than his. We were able to show him that in the month of August there were only 4 showings TOTAL on homes comparable to his. They’re crafting a false narrative. It’s your job to show them what’s true.
3. Maximize Your Marketing: perform a SWOT analysis on your marketing (strengths, weaknesses, opportunities & threats) and truly ask yourself if you’re doing everything you can. Be sure your sellers knows what you’re doing and why it matters. This week one of our sellers said to us, “I know your social media is good for you to grow your brand but I don’t believe it’s doing anything to sell my house.” Ouch. What he didn’t understand is there’s a big difference between the reels we post on @heardnewmanrealestate versus the digital ads that we run through a 3rd party which specifically targets the types of buyers searching for homes like his in his price range. Both “social media,” but two very different animals.
4. Go on Offense: After a long sellers market, a lot of us have become order takers, rather than professional sales people. Create a targeted list of the agents most likely to have the buyer for your listing based on their past sales history. Call the top targets directly. For the rest of the list send a short, personal email simply asking if they have any buyers ready to write offers in x price range. Start a dialogue. Make your pitch. Show your sellers the results.
5. Proactively Plan: Be sure that you’re proactively planning your marketing for the next 30, 60 and 90 days and that your sellers know what the plan is.

It’s our job to be the voice of truth and reason when times are tough. Listen empathetically. Show up for your sellers by sharpening your skills and maximizing your marketing. The bottom line is that if they know you’re engaged, that you care, and that you have a plan, they’ll see you as their helper, rather than their hinderance.