If we’ve said it once, we’ve said it a million times, your core priorities should be all about relationships.
Remember what got you through 2020? If you’re like most brokers we’ve spoken to, it’s two things. First, they found ways to get closer to family, friends, agents, and staff. Second, they preserved their balance sheet, got rid of spending that did not directly relate to core priorities and continued to invest in the ability to do business online, virtually.
Work with your agents and staff to find creative ways to create inventory. Knock.com is leading the way with creative ways to bridge the inventory freeze, and other financial institutions are starting to follow. There are other creative financial institutions working with brokerage firms to “bridge the gap” between frozen sellers with little inventory to choose from in this market. This is just one solution we’ve been following.
Remember to emphasize horizontal communication between your agents and staff to share ideas and successes of finding and bringing forth inventory. The power of the intelligence of the group is larger than any one individual.
RealTrends has featured a couple articles on finding inventory. One is from Larry Kendall of Ninja Selling. Another is from Luke Babich of Clever Real Estate on seeking out unique homes for inventory.
Steve Murray is a senior advisor for HW Media.