The current market is an interesting one. Inventory is low, which leans towards a seller’s market. In his bi-monthly video and newsletter series “MarketWatch“, David Howell at McEnearney Associates, gives a detailed opinion on why there are so few listings on the market.
I recently put my home on the market and was delighted to find out the home went under contract the same day it was listed and for the asking price! I couldn’t believe it, it sounded too good to be true.
Regardless of market conditions people have to move, and people who need to buy are in a frenzy looking to snap up the next good home to hit the market. Many properties are therefore going under contract on the day they are listed and many end up with sale prices higher than their (inflated) asking price!
Needless to say, sellers love this type of market as do their agents who have an easier job and rewarding relationships with happier (than usual) clients.
But in such a market, how do you provide your buyers with an edge?
Many sites offer property alerts. The user signs up for an account, creates a search filter for the type of property and location they prefer, and the system notifies them once a property that meets their criteria hits the market (and the MLS).
When Baird and Warner launched their site on our platform (in late 2011), we introduced Exclusive Previews to our network. Not all the listing’s data is used, just a highlight of the most important features including the best images. The agent then chooses the time frame this listing will be kept “private” (i.e. how long before it will be posted to the MLS) and BAM, this agent just created a significant edge to all his/her potential buyers.These are similar to alerts, but have a distinct advantage. An agent enters their provisional listing into our admin panel first as opposed to the MLS.
An email goes out immediately to all buyers in the system that have matching saved searches, giving them that extra few days to see the property before the rest of the market does. That kind of competitive edge is hard to find. Your buyers will not be the typical frustrated buyers in this market who keep on seeing the home of their dreams being sold to someone else. Instead, they will be the ones ones walking away victorious as a result of your services and will become loyal customers, likely recommend your services to their circles.
Don’t keep your buyers waiting in line. Empower them with Exclusive Previews.