Low inventory market means a skill set shift. You need to know how to generate inventory, market yourself to get more listings, handle multiple offers to the sellers AND position buyers’ offers in a multiple offer setting. In this session taken right from the trenches of today’s market, Maura will even address the psychology of the unrealistic seller and the disappointed/angry buyer.

2. What does it mean to have
“low inventory”?

3. What does a consumer
think it means?

4. Low Inventory
Creates strong
Seller’s Market
Supply is lower than
demand
Buyer confidence is
high

7. What is a lead?
A person in
need of a
solution or
information.

8. What is a lead?
A person in
need of a
solution or
information.

9. Lead Generation is Key
• Prospecting
• Farming
• Networking

10. Don’t Be the Seagull.

11. Lead Gen Musts
• Make it a priority
• Establish relationships
• Give it time
• Ask open-ended questions
– Go 3 deep
• Capture as much information as possible

13. Create Your Ideal Day

14. Create Your Ideal Day

15. Reality 

16. Lead Gen cannot be passive.

18. Lead Conversion
1. Be responsive.
2. Add value.
3. Make a connection.
4. Start the conversation.
5. Set the appointment.

20. Tracking:
Tracking Leads

21. Tracking:
Tracking Transactions

22. What to Track?
 How many leads generated
appointments?
 How many appointments became
clients?
 What is the “leads to closed
business” ratio?

23. What to Track?
 Which activities yielded the best return?
 Which ones didn’t?
 Which methods are most successfully
reaching
target audiences?

24. Your Ideal
Client

25. What is Valuable?
• What are they seeking?
• What is valuable to them?
• How can you provide that?

26. Attracting (New) Leads

27. Who Should You Target?
• Past Clients
• Homeowners with equity
• Investors
• Builders

28. Many consumers may not be aware
that they can sell now, especially if
they were ever previously underwater.

29. Know Your Data:
Absorption Rate
• Let’s say there have been 144 homes sold
in your area in the last 6 months…
– 144 divided by 6 months = 24 homes sold per
month
• Now, let’s say there are 84 homes
currently for sale in your area…
– Divide 84 by 24 (# sold in past 6 months) and
you have 3.5 months of inventory

30. How Does the Public
Consume Information?

33. Multiple Offers!

35. Buyer Strategy
• Always conduct a Buyer Consultation prior
to showing
• Educate the buyer on the market
• Discuss your recent experience with
multiple offers – with past buyers and
sellers
• Discuss Absorption Rate and market data

36. Buyer Strategy:
Your Homework
• Pull comps before showings
• Have data, such as Absorption Rate,
number of days on market, etc. up-to-date
and ready to share
• Confirm status of properties before
showing
• Get buyer agreement signed before
showing

37. Buyer Strategy:
Your Homework
• Talk to the listing agents - find out:
– What is important to the seller?
– Are there any special terms to be aware of?
– Has the seller authorized the listing agent to
share anything with potential buyers?
• Prepare the buyer for possible
disappointment

39. Make Your Buyer’s Offer
Stand Out
• Creative closing date
• Escalation clause
• Fewer/shorter
contingencies
• Fewer concessions
• Shorter timelines
• What else is attractive to a seller?
Think like the seller:

40. • Due diligence / inspection contingencies
• Financing
• Appraisal
• Contingent on sale / closing of current home
• Others?
CONSIDERING CONTINGENCIES:

41. • Seller-paid closing costs
• Termite bond
• Home warranty
• What other concessions can your buyer give
up?

42. Seller shall choose closing date that is convenient
for Seller to be any weekday date between 00/00/00
and 00/00/00, not including any state, federal or
bank holidays. Seller shall name desired closing
date in writing no later than [SPECIFY deadline for
seller to name date]. If Seller does not name
desired date in writing by deadline specified, Buyer
shall name Buyer’s preferred date within two days
of deadline specified.

43. Purchase price shall be $X,XXX over the next
highest offer price up to $XXX,XXX. In the event
of multiple offers, if this offer is chosen, seller
agrees to share next highest offer with Buyer
prior to this contract becoming binding OR with
the signing/binding of this offer.

44. ESCALATION
WITH CLOSING COSTS:
NET TO SELLER (purchase price less any
seller contribution to closing costs) shall be
$X,XXX over the next highest NET PRICE up to
$XXX,XXX. In the event of multiple offers, if this
offer is chosen, seller agrees to share next
highest offer with Buyer prior to this contract
becoming binding OR with the signing/binding of
this offer.

45. OPTION MONEY:

46. Seller Strategy
• Discuss multiple offer strategy in your
Listing Consultation
• Educate the seller on the market
• Discuss your recent experience with
multiple offers – with past buyers and
sellers
• Discuss Absorption Rate and market data
in detail…and explain it

47. Seller Strategy
• Include multiple
offer forms in
listing package
• Agree to a
strategy before
listing and get
seller buy-in

48. Prepare Your Listing for
Multiple Offers
Think like the buyer’s agent:
• Give as much instruction as
possible/your seller will allow
• Provide guidance on:
– Closing attorney/title co.
– Closing date
– Other terms important to
your seller

50. STAND
OUT
How Can You

51. Let Your Clients Tell Your Story

54. Know Your Core Values

56. Get Personal
• What makes you
YOU?
• Why should
consumers want to
work with you?
• What is important to
the consumer (and
what is not)?

57. SERVICE as LEAD GEN

58. Service vs. Hospitality
“Service is the technical delivery of a product. Hospitality
is how the delivery of that product makes its recipient feel.
Service is a monologue – we decide how we want to do
things and set our own standards for service. Hospitality,
on the other hand, is a dialogue. [It] requires thoughtful
listening to the other person, and follow-up with a
thoughtful, gracious, appropriate response. It takes both
great service and great hospitality to rise to the top.”
~ Danny Meyer, restaurantuer

64. GOT SLIDES?
www.MauraNeill.com/low-inventory

65. Connect: about.me/MauraNeill