Having Low Inventory Problems ? Not enough Listings?...Good news...

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 I have been having thoughts back to a time when I needed resources from clients. Much like you need homes(resources)in order to meet buyer demand.
Anyway, I was in a different career than you and I share today(Real Estate), but back then I was trying to collect on an account that owed well over a million dollars and the account owner advised he had $27 to his name...

He was having financial problems and as a result I was having trouble collecting resources from him. 
I am happy to tell you that you are looking at far more favorable odds as you try and get your inventory levels up.


So...  


Good News!

Supply in the housing market is abundant.
Yes, I said abundant.
Inventory is everywhere.
Not enough housing inventory is not the problem.
Not technically…
If there were no homes within a 200 mile radius with the current buyer demand…
THAT would literally be not enough housing inventory.
The true obstacle...
There are not enough current, existing, and desirable occupied homes for sale.
Tremendous difference.
In the first problem the supply does not exist.
In the second problem the supply is there.
The circumstances need to change but the resources are there to become your supply.

However, for off the market homes to be considered a part of the supply you need an agreement.
An agreement to list it by the owner.
The quickest answer to most commodity inventory problems is to create urgency for the current commodity owners.
Have a conversation with homeowners and hope they give you objections for NOT moving because objections are the stuff from which every incentive is made.
Be the person to inform them what is in it for them to sell now.
Before you decide that is easier for me to suggest than for you to do, think about this…
Current homeowners are the people occupying what can become your supply.
Think of current homeowners as a light switch panel in your office.
If the switch is pointed down, does that mean the lights will never ever come on again?
Do you think to yourself: “well lets call an electrician and have him put another light switch in because some one turned the switch off”…
No.
Is a light switch useless just because it is in the off position?
No
Because at any moment you can easily flip the light switch ON and you have light again.
That is how easily an occupied home that is not for sale can become a part of your supply.
A light switch will never turn itself on but you can.
You can by taking action and flipping the switch the other direction.
You can help current homeowners understand how they can profit from taking the initiative to sell now.
Be the person to tell a clear story about why this is urgent for their best interest.  

The solution is out there.
Homeowners may not be calling you to list their homes like you want…
That does not always mean people do not want to consider selling their home.
It may mean some current homeowners are not taking the initiative to list their homes...
But that is very different from being willing to sell if they knew what they could potentially gain.
Human beings often mistake non-action for unwilling.
They may yield the same outcome by not producing change if left unmotivated.
But non-action usually means the situation lacks urgency and motivation to act.
Maybe we assume because we live real estate every day that everyone knows what is going on around them.
We think: “they must know they could have a bidding war over their home... Right?”
Probably not.

If you are a Realtor, the state of the housing market is your world.
That is your daily reality.
Because it is your reality, the part of your brain that is designed to draw universal conclusions from your daily life, assumes other people know what you know.
It is a human behavior found across the world.
It is also the reason a lot of us miss out on opportunities.
Be a catalyst.
If you must assume, assume other people do NOT know what you do.

Inventory is waiting for you to be a solution.
Realize the answer begins with you initiating conversations about the problem.
It is up to you the professional to recognize the supply problem and become a part of the solution.

Creating supply out of available, yet unlisted commodities in the marketplace is doable.
It requires you to help people understand why it is urgent they take action.
People who want to directly benefit from what is going on in the market have to participate in it.
But first they need to know they need to be participating.
They need you to tell them.
Knock on doors with the intent to inform them what they deserve to know.

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