How to Survive a Slow Real Estate Market by Generating Motivated Seller Leads!
It might be seasonal, it might be systemic, but it’s definitely inescapable: You’re going to experience a slow real estate market at some point in your life.
This isn’t a big deal to the average person. Unless you’re looking to sell your home, you might literally never think about a slow real estate market. To a real estate agent, however, a slow real estate market is a killer—not only bringing financial insecurity but also a heap of boredom and an impending sense of doom. Your income streams could turn into income trickles, and you will start thinking there is no end to this slow real estate market in sight. You might find yourself wondering if you’ll ever find motivated seller leads again, or if getting into real estate was a mistake. All because of a slow real estate market.
How do you deal with a slow real estate market? More importantly, how do you thrive in a slow real estate market, generate motivated seller leads, and find plenty of real estate referrals? Well, it’s not an easy process, but you don’t get to be successful in real estate by taking things easy. With a little ingenuity and a whole lot of hustle, you can keep your schedule full—even during a slow real estate market.
Use the Internet to Find Motivated Seller Leads
The key to mastering the slow real estate market is not simply finding seller leads, but rather, finding motivated seller leads. When you can locate motivated seller leads in a slow real estate market, you will continue to work with homeowners who have the desire and the sense of urgency to get started.
If you can master the art of finding motivated seller leads, you will ensure you’re busy year-round. It’s a tough nut to crack, but once you’ve tapped the fountain of “motivated seller leads,” you’ll continue to benefit from a steady flow of business. It won’t matter if you have a slow real estate market or a fast one. There are always motivated seller leads, people looking to sell in any market—it just takes a little searching to find them.
How to Find Motivated Seller Leads Online
The savvy real estate agent’s work in finding motivated seller leads has gotten quite a bit easier in the Digital Age. And finding motivated seller leads during a slow real estate market is no exception to the rule. There are plenty of places where you can locate folks who may be interested in selling their homes. And many of them can even be a source of future real estate referrals! Beyond knowing where to look, you must excel working with the digital (and analog) tools you have at your disposal to seek these motivated seller leads out and get in touch!
1. Examine Public Records
As a homeowner, you hope you’ll never need to deal with bankruptcy or a foreclosure. Unfortunately, things happen. When you’re staring down a foreclosure or a bankruptcy, you need solutions. One viable solution can be to sell your property, either to collect your losses and exit a burdensome mortgage or to leverage your real estate’s liquidity to cover other debts and keep afloat. In these cases, homeowners who are motivated seller leads may be interested in taking a deal. This makes for an attractive property that stands out in a slow real estate market.
As a real estate agent, you can search public records to find motivated seller leads in both a fast and slow real estate market. As you help a homeowner successfully find a solution to their current financial situation, you’ll also have just gained a new client (and maybe even real estate referrals)! You can find motivated seller leads throughout easily available public records in your area.
2. Retarget the Right Websites
Selling your home can sometimes be the best path out of financial distress, even if you aren’t in a foreclosure or bankruptcy. From credit cards to car loans, saving up for an important purchase or the loss of a job, there are a ton of reasons one might search for tips and solutions for saving up or tackling a financial bind. A homeowner’s personal financial situation is typically going to be entirely uncorrelated to the slow real estate market. With this in mind, some of these people searching for tips to navigate financially stressful times may be motivated seller leads. And these types of motivated seller leads exist year round!
When you’re looking for motivated seller leads in a slow real estate market, match your marketing to these people—and show them you’re there to help. By retargeting people who have visited sites focused on topics like how to avoid disclosure, tax issues, or any number of financial topics, you can serve them ads tailored to their situation. Not only will you be top of mind to these motivated seller leads should they sell down the line, but they may keep you in mind and provide real estate referrals to folks in their own networks! During a slow real estate market, however, these motivated seller leads can give you a big advantage.
3. Seek Real Estate Investors
Even in a slow real estate market, real estate investors are always seeking real estate investment opportunities. Connecting with them can provide you with real estate referrals, and may even be able to give your motivated seller leads a buyer. If one of your motivated seller leads is looking to sell quickly, you can leverage this to provide a great deal to a real estate investor. With motivated seller leads and motivated buyers, you can provide the homeowners you work with assistance to their next financial step. And the more helpful you are, the more your buyers and motivated seller leads will keep your future pipeline full with real estate referrals.
Shamelessly Generate Real Estate Referrals
In a slow real estate market, you need to generate real estate referrals. Have you seen those bus stop ads for real estate agents? You have. Don’t pretend you haven’t! Some are professional, some are campy, but if you take the bus or drive past the bus stop—you remember them.
You need to be much more fearless and bold in a slow real estate market. Fortunately for you, there’s really no wrong way to generate real estate referrals—slow real estate market or not. Start with your networks on social media, attend industry events, or even meet people at happy hours. It may be uncomfortable at first, but if you got into real estate, you probably already know it’s an extrovert’s game. You don’t have to be in a slow real estate market to start thinking of fresh ways to generate real estate referrals. Creatively market yourself and meet as many people as you can, and your boldness will pay off. Before you know it, the real estate referrals will find you—and you won’t have to find the real estate referrals.
Success in a Slow Real Estate Market
Success as a real estate agent requires a certain amount of hustle. Even if you’re busy 90% of the year, that month or two when you deal with a slow real estate market can be draining and disappointing. Hopefully now, if you find yourself in a slow real estate market, you will be able to find motivated seller leads, generate real estate referrals, and carry on with confidence!
It takes a lot of courage to keep going when the going gets tough. But as a real estate agent, you’re tough enough already. You have what it takes to generate motivated seller leads in a slow real estate market. And you know how to creatively find real estate referrals that will help keep you busy year round—not just during a slow real estate market. You’re ready to handle whatever a slow real estate market throws at you!