In a market of low supply that favors home sellers and not buyers it’s never been more important to load your database with as many buyer prospects as you can.
Here is why.
1. The Law of Probability Will Favour You
As is often the case the bigger your supply the more strongly you can rely on the Pareto Principle (the 80.20 rule to favour you). 20% of your prospects will act. The other 80% will not.
2. More Multiple Offers
You can expect to be involved in more multiple offer situations than ever before. If your pre purchase consultation and counseling skills are strong, your clients will be willing to compete and with your guidance they may produce a winning offer. In many cases you will not win and will have to try again later. Think of it this way. Even if only two buyers are competing, at best you have a 50% chance of success and 50% chance of failure.
3. Some will Give Up
Many of your home buyer candidates will give up. They may not want to compete in multiple offer situations, or they simply don’t cherish home ownership enough and will opt to be renters, or stay where they are.
If you would like to discuss how you might be able to maximize the size of your home buyer database, please let me know.
About the author:
You can read more about the author of this blog by clicking this link - Stuart Neal, Broker, Career Coach, REALTOR® & Team Lead.
You can watch and hear Stuart share other ideas on his You Tube Channel: Stuart Neal, Edmonton Real Estate Career Coach.
Follow Stuart on his Facebook coaching page: Stuart Neal, Edmonton Real Estate Career Coach Facebook.
Want more information about becoming a team member or Associate REALTOR® with Ambergate? Call Stuart our broker owner at: 780-760-2014 ext. 3 or go to our Careers page - Ambergate Realty Advisors Careers.
Posted by Stuart Neal
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