Here's some information that I think is super powerful that really no one talks a lot about. But it absolutely will impact you and I as REALTORS.
From 1968 to 2000, the average building in the country was 1.5 million new units. That's a long history there, 1968 to 2000. From 2000 to 2010, that number dropped to about 1.28 million units. Okay. Then we had a big building boom during the run up to the Great Recession. But then it collapsed and builders stopped building at all.
At the end of the day, when you add all those numbers together, what you find, and what analysts have found is that we are not building enough homes by a mile, right? And in fact, in order for us to just meet the supply demands of the country, we need to add 5.5 million housing units to our current inventory out there. And if we don't do that, we're gonna have perpetual low supply, which leads to higher prices and leads to kind of the market that...
Here's some great language to use with buyers as they're entering the market today. We know it's a high demand, low supply market.
But how do we coach them through this process?
One way is by using the "Auction Analogy." You can do this by talking about a list price as being almost like a reserve price. So the conversation (which you can see below), will give you a good way to help buyers understand what's happening in the market dynamics. You can simply say:
"Hey, now that you're entering the market, I just want to kind of give you a little overview of what's happening in terms of pricing and where sellers are at. We're in a very low supply market and a very high demand market. So, on average, sellers are receiving a least four offers per home. Now some receive less, some receive more. But in general, we're going to be competing for a buyer for a seller's love. We're going to be competing with other buyers. So we want to come in...
Implement game changing lead generation strategies, grow your sphere of influence, improve your presentation skills, build systems, tap into follow up tools, learn time management strategies, and tap into your true potential.
This is your time to create the business and life you deserve!
✔ Take Control of Your Career!
✔ Manage Your Time Effectively!
✔ Attract Clients Instead of Chase Clients!
✔ Plug into Proven Systems!
✔ Tap Your True Potential!