Q: “Denise, I am in one of those severe inventory shortage areas and I am seeing agents all around me thriving and getting listings while I am struggling. I am very frustrated. I usually generate leads by holding open houses, but there are no open houses to be had. What should I do?”
A: I have three words for you: Move. Your. Boat.
If the waters you are used to fishing in don’t have fish available, then you will need to move your boat to a more abundant area and change your strategy. This might mean sending letters to potential sellers who own a type of home that is in demand, looking for expired listings, or even doing a better job of connecting with your database. For example, why not set up an appointment with homeowners to review their investment? People love to hear about how their investment is doing and that approach is different than offering to do a CMA.
I have another thought for you. Agents who are holding open houses in inventory shortage areas are inundated with potential clients coming and and many agents are finding that having two agents at an open house causes more buyers slow down and connect with both agents. You might want to present this idea to the listing agent.