Hello Saturday morning! As shared yesterday in Part I in a sweep of this week (weekend essentials) here is Part II along with that 5 minute cup of coffee – here.
I was asked the below question for a response inside a Windermere Insights blog and it become the perfect tie into content to which I wanted to share with you as we continue to set focus early in the year in moving the market and helping people amidst inventory levels being our market challenge.
*yes, I acknowledge from the get go here – condominium inventory is not necessarily a challenge (a market challenging in other ways). Windermere Wedgwood broker, Cisca Wery coined it perfectly this week as she is “finding a way to balance between the two barbells of the market. Kind of like Main Street economy vs the stock market? Different worlds.“
Q: Assuming inventory remains as tight as it is now, what can your brokers do to help their buyers find additional housing options? My Answer:
A: In short, the answer is to help identify more homeowners willing to sell. We are coaching brokers on how to uncover more potential inventory by doing equity analyses with homeowners. The lens of education is key here – educating prospective sellers about their equity, their home’s market prospects, what it will take to get their home prepared for market, etc. This way more prospective sellers will be able to make informed, confident decisions.
We have a program – Windermere Ready – that helps sellers prepare their homes for market with minimal effort and no upfront costs. We also have a fantastic bridge loan product that enables sellers to make their next move before selling their current residence. So if some homeowners don’t feel fully empowered as prospective sellers (or buyers), our brokers have access to programs and tools that will boost their clients’ confidence as they consider entering the market.
…so, for all of us – the real answer becomes: what can we do to engage in activities that create conversation starters for & with more people who need that extra nudge to evaluate if this is the time they should be selling their home. Here are a handful of activities we know that work. Where can you add them into your efforts in educating your people that know + like + trust you? Ps, these activities naturally amplify that “trust” in you – making you their go-to referral broker to amongst friends, family & co-workers.
A monthly automated option; set it and forget it option? Neighborhood News. Need help?
Fun fact around Neighborhood News? As one of my offices evaluated NN this week with respect to the correlation between a broker’s annual GCI and their Neighborhood News subscriptions. Answer in 2020 is: The top 1/3 of users in the office earned 2.15x more GCI then the lowest 1/3 of users.
Annual Property Reviews. If you don’t yet have these in your activity playbook each week, 2021 is your year and I am going to make this easier for you along the way. Over the next couple of weeks I will provide a deeper dive in what to include, how to create and how to deliver. Done right & consistently, providing annual property reviews can have the highest return on your investment. The end goal, as described above, provides a conversation starter (less about the home – more about creating a possible next step); an opportunity for someone to raise their hand and ask for more information & more guidance from you. Ps, you also become much more likely to receive referrals from this activity. Gold.
Note: if you aren’t yet comfortable with your Moxi Present tool – start there. You’ll thank me later – I promise! Hint hint: this is where you’ll want to create & maintain your Property Review template.
What have you noticed with the two activities above? They are focused on education. They become conversation starters. They help your people move beyond headlines from general media sources and instead gets to the heart of the matter = them. Do make sure you have a digital option at least monthly to provide a touch of education. What was the true intention of social media? Answer is: start a conversation. How are you doing that? Below is a sample (Seattle Residential, January 2021) – which I have seen many of you providing “socially” – well done!
Ok, everyone – back to Saturday we go! Enjoy the cup of coffee, pour someone else a cup an unforgettable cup of coffee and we’ll connect again next week. And oh, in 2021 I’m going to start a virtual book club. More details too follows. First FWL pick? “It Takes What It Takes” – Trevor Moawad. Yes, his name might sound familiar – keynote speaker on January 26th at our Windermere 2021 Kickoff event. #RESET
That’s a wrap for this week. All IN. – Laura