BK’s First Law of Working in a Hot Market
All Salespeople enjoy working in a Hot Market. So what’s the definition of a Hot Market for real estate? Typically you would have to say it is when there are plenty of Buyers ready to purchase what you have to offer. Often they are competing for the same property.
Sounds simple enough and for the most part, it works…as long as you have something to sell them. This is where BK’s 1st Law of a Hot Market takes over. Here it is:
In a hot market, it is more efficient to spend your time finding a hot Seller than it is to work with a hot Buyer.
When there is a shortage of inventory the top producers spend their time finding Sellers. When you do the work up front – meaning getting new listings, it’s a lot easier than trying to find the “perfect home” for the multitude of Buyers who are competing for the inventory.
Which market are you going after… Buyers or Sellers? Pay the price early and your job will be significantly easier.
Do the wise thing and spend your time prospecting for Sellers. The Buyers will always show up in a Hot Market. Your work is already done. NO Excuses. BK