7 Options You Should Give Every Homeowner to Get More Listings Today

March 25, 2021

It’s safe to say many homeowners today are operating by the expression, “A bird in the hand is better than two in the bush.”

In other words, they’re content having a place to call “home” during these crazy times even if they’d prefer to move somewhere else.

With so much being made of the low-inventory real estate market, plus a pandemic, many are choosing to delay their moves instead of taking their chances and potentially having nowhere to move after they sell.

You and I both know a lot of their fear is unwarranted.

The problem is… they don’t know it. So they’re playing it safe.

The key to getting more listings is instilling the confidence homeowners need. And it comes down to one word – options.

Showing prospective sellers their options and making them realize they’re “in the driver’s seat” changes everything.

Here are seven ways to achieve that goal…

Option No. 1: Rent Back/Lease Back

Communicate to the homeowners that some of today’s buyers are willing to make extraordinary sacrifices in order to get the home they desire.

One such option is to negotiate the ability to rent or lease the property back in order to provide sufficient time for the homeowners to find and purchase a new home after their sale closes.

This is standard practice throughout the industry, but many consumers might not be aware of this possibility. That’s why it’s your job to educate them!

Option No. 2: Extend the Closing Date

Another option available to homeowners is to simply extend the closing date to allow valuable “search time” for their new house.

Today’s buyers are flexible. Inform the homeowners that this is a viable option to keep a roof over their heads while they find their next home.

Option No. 3: Make the Sale Contingent on Finding a Home

There’s no reason you can’t write into the contract that it only goes through “if and when” the seller finds a new home and gets that purchase under contract.

Option No. 4: Put Them in One of Your Rental Properties

As a real estate agent, I certainly hope you are investing in real estate yourself.

Many agents I’ve talked to own vacation or rental properties in their markets and are capitalizing on those assets by using them as short-term, interim homes to help put their clients in an advantageous position.

That way, your clients can sell their home free and clear and then be in a power position and ready to pounce when they find the right property for their next home.

Option No. 5: Build Confidence in Your Process

Don’t overlook this important step: Be sure to convey to any potential seller all the unique and creative ways you help buyers find their dream home.

Communicate how you study the MLS daily, talk to your sphere regularly, speak to other agents, and often get early access to off-market properties. Also explain to them your marketing tactics such as the “Yikes” letter or a voicemail variation using Sly Dial as described by a Rockstar agent on this recent podcast.

Option No. 6: Buy It Yourself! (Or Sell to an Investor)

You might not want to communicate this option to every potential seller, but it is a tactic you can keep in your bag of tricks…

Buy the property yourself! Then rent it back or let the previous owner stay until they find their new home.

On that same recent podcast I mentioned above, Colorado Springs Rockstar agent Treasure Davis explained how she works with her lender in certain extraordinary circumstances to purchase a property herself, knowing she will not only get the listing, but also make additional income by flipping it.

It’s a technique she used recently to help a past client.

Option No. 7: They Can Always Say No!

One alternative homeowners often overlook is this “worst-case scenario” option – they can always turn down any offer and decide to stay put if things don’t work out.

(Of course, as their listing agent, you’re going to do everything possible to not result in that outcome.)

Make sure to remind them of this during the initial appointment because it really shows that they’re the ones in control throughout the process.

Now that I’ve given you these options, it’s up to you to communicate them to homeowners in your market. Get the word out, provide them with options, increase their confidence in making a successful move, and get those listings!

Also, if you haven’t already, be sure to download our new Low Inventory Success Strategies bundle to help you navigate today’s complex marketplace!