Know the stats of summer sales in the past year and put them in terms of percentage. For example – According to Matrix MLS in 2015, 12,831 homes SOLD between Easter (i.e., end of season) and Sept. 30 (beginning of fall). The total sold for the entire year of 2015 was 20,634. This means the summer sales represented a whopping 62% of the total sold inventory! Can you only afford to have a 38% chance of getting to ____________________ (motivation) this year, Mr. Seller? Let’s do this the right way and get your property sold now.
Know what’s happening in the area! Did you know that there are more than 81 new construction communities actively building now in Collier County alone? AND – according to the Economic Development Office for Lee County, more than 24,000 new homes are scheduled to come on-line within the next 20 months! You see, new construction hasn’t quite caught up, but it’s very close! When those NEW homes hit the market, the inventory will once again increase, and your home will be competing with newer properties. Many with amenities like golf memberships and design packages that builders can throw in – we can’t.
(Sellers think that nothing happens here in the summer). Take the time to know what’s sold in the neighborhood/on the Island in the last month (or in their price range)… so you can quote that. For example – since you’ve been off the market, Mr. Seller, more than XX homes have sold in your price range “buyers are clearly here buying, and some of the homes that sold aren’t as nice as yours! Wouldn’t it be great if yours was one that already sold and you didn’t have to deal with this anymore?”
Do the competition comparison by script – “So we know that most sellers act alike and take their homes off the market in the summer. Do you think, then, that you may have more or less competition NOW by… thinking differently…. and having yours out there? <<less>> Absolutely! And doesn’t less competition often mean a better opportunity of getting it sold at the best price? <<yes>> So, let’s do this right and get your home AHEAD of the competition this year.”
When they talk about the market continuing to improve and they will just wait – Use The WINDOW OF OPPORTUNITY discussion…. “Mr. Seller… the market has improved – it’s created a unique window of opportunity to sell property RIGHT NOW. May I explain?” <<yes>> “We’re in a market now where FOUR factors are aligned for sellers… may I share them with you? <<yes>> First, buyers are more serious than anytime in the past 4 years because prices are up 10.3% over last year and sellers are getting 94.3% of list price! Second, interest rates are STILL at historical lows and we know that WILL change. THIRD we haven’t had any regional economic influences (such as hurricanes or oil or the beach) to affect buyer thinking, and FOUR inventory has dropped 44% just in the last 18 months – which means there’s less competition out there – we know that’s changing fast as builders build newer, better product this year… so, let’s not gamble this window away … let’s get this done right – CLOSE.”
JUST SOLD calls…. Look at the statistics – it doesn’t have to be your own sale – make the call here’s the script… “Calling with great news! <<what>> You have a new neighbor! <<really>> Yes, ________ (address) sold recently in your neighborhood. Would you like to know what it sold for? <<yes>> give price… within ____% of list! We know when one sells, usually 2 or 3 more sell right away because the buyers missed that opportunity… so do you know anyone looking to sell that could use my help? <<no>> OK, and when do you plan on moving?”
TERMINATED – we have a ton of terminated listings – more than 1,800 YTD Why? Get back to them and call them; be ready to educate them quickly on how you specialize in selling homes that have been on the market for long periods of time without results and would like to show them EXACTLY what works in this case!
Make a SUMMER FLYER part of your marketing or newsletter. Remind sellers of the following 1) the statistics of what’s sold 2) that this is a destination market and families with kids travel in the summer (hotel occupancy rates are great to share!) – the average age of our buyer has dropped from 63 in 1999 to 51 in 2015 – more people are nesting here seasonally and year round!
Don’t let hurricane shutters stop you! Objection – OUR HOME IS CLOSED UP for the summer. “Yes, I anticipated that… most are! My team can evaluate how the home shows, and make any minor changes necessary. It’s our experience that buyers here for the summer actually appreciate the care certain owners… like you… take to protect the property. It usually becomes a plus!” So let’s move forward today… how can I get access to the home, do you have a homewatch company or neighbor with a key here?”
Get in relationship NOW with new construction communities, builders and list waterfront lots. How do you get in relationship? Be sure you are asking for inventory to place on the MLS for them!