Are Short Sales Part of Your Business Plan?
With 2012 just around the corner, everyone and her (his) mother is talking about how to make more money than ever before. It’s time to start writing your business plan, putting deals together, and figuring out those new ways to be successful next year. It’s the same every single year. When December arrives, agents assess their closings for the current year, and then they jump for joy or wince uncomfortably.
That being said, 2012 will be another good year for the short sale transaction. And, if you have gotten no other message from all of my weekly columns, get this one: you owe it to yourself and to your past clients to add the short sale transaction to your bag of tricks.
You see… Kevin Bacon aside (that’s my tribute to Six Degrees of Separation), everyone knows someone who knows someone that is having trouble making ends meet right now. So, why not help that individual out of a jam, unload the property, do a good job? This might even result in more short sale leads.
Short sale leads are all around you.
Here are a few ways to get some short sale transactions into your pipeline:
- Market Regularly to your Sphere of Influence. It’s not rocket science. If your sphere knows that you can work short sales, they might call you or refer you to someone who needs your help today.
- Use Social Media to Connect. Again, I’m not reinventing the wheel here. Reach out to your online friends. Say ‘hi.’ Remind them that you exist and that you are still in the field of real estate. You might be surprised when you learn about how many did not realize that you are still in real estate.
- Leverage an Open House. Not sure where to begin your short sale lead campaign? Have an open house at one of your listings in a neighborhood ripe with short sale leads. Create invitations. Invite neighbors (in advance). You might be surprised. The conversation can turn to distressed properties at any given moment. Don’t have a listing? Borrow one!
Finding short sale leads is not as difficult as it may seem. The key is to get out and do something. Do it regularly and consistently, and the leads will come.
Photo: flickr creative commons by Orin Zebest