We just got stats that show listings have increased again. For the past several months, they've been increasing. And now they've increased again by another 4.1%.
So now we're about 2.6 months of supply in the country. Not a lot, but more than it's been in a long time.
So we're starting to see listings come back to market.
The question is: Are you starting to see more listings come into your portfolio?
If you're not, you have to ask yourself why.
The number one reason why we don't have as many listings as we should is we're just simply not asking for them. We're not asking enough people to give us listings as we should. And we're not asking for enough referrals.
I'll give you one technique that blew my mind recently that one of my students used. And I received it because I'm on his mailing list.
He sent me his resume, his resume letter, the resume letter had a cover letter, just like a regular resume. And on the cover letter, it said:
"Hey, if you have an opportunity in the next six months to a year to do some real estate business or you know someone who is, I would love to be the agent you choose to refer to you or to do business with. Attached is my resume of the services that I can offer to you."
Then the next page had a resume of services that showed his buyer services, his seller services, his relocation services, showed his designation and experience in the business.
It was brilliant because it was a direct ask. How many of you are directly asking for business once a month, once a quarter, once a year from your sphere?
Also included in that little letter that he sent out (it wasn't a postcard, it was a letter), was a couple of business cards.
Simple, direct ask to your clients. It's time to do it because now there's going to be more referrals than ever. Remember the stats that we've been talking about recently:
1 in 7 homeowners is going to be listing their house in the next three years. 1 in 10 is going to be listing in the next 12 months. That's a massive shift with the marketplace. 77% of sellers believe now is a good time to sell. And more and more of them are going to be coming to market.
The question is: Who are they going to list with? Is it you or your competitor?
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