3 Steps to Create More Listing Inventory

Dealing with low housing inventory is an ongoing pain being felt by every real estate agent and buyer client in the current market. Luckily, there are some simple steps you can take to help create more inventory.

You're hearing it everywhere -- from real estate agents you talk to, your buyer clients, your seller clients, on the news, on social media: "Inventory levels are at historic lows." This low inventory situation is proving to be quite problematic because not only are there a limited number of properties on the market, but home prices are astronomically high. These two factors are acting as deterrents for both buyers and sellers alike, essentially freezing the market in a real catch-22 situation.

So what are the successful agents doing to cope? Instead of spinning their wheels and complaining about how low the inventory is, many agents are finding creative ways to both scale their businesses and create more inventory for themselves. By following three simple steps outlined in this article, you too can win more listings and generate more inventory in your market.

Step One: Generate Seller Leads

This may seem obvious, but there are a few different ways you can really zero in on generating seller specific leads. First, you need to diversify your lead sources and then refocus your remarketing efforts to specifically target sellers. Here are some of the best lead sources you can use to generate seller specific leads:

• Google PPC seller ads
• Facebook seller ads
• Google Local Service Ads (Google LSA)

One thing to remember when generating seller leads: don't neglect calling through your existing database, even if you think most of your contacts are buyers. You'll be surprised how many of your buyer leads are also needing to sell first.

Step Two: Nurture, Nurture, Nurture

You know the drill!

Keep in touch with your leads by calling, emailing, texting, sending video messages regularly, right? Absolutely! But there's even more you can do to step up your nurture game when it comes to sellers.

First, leverage the power of social media. We're talking about things like regular social remarketing and pushing out social branding videos. In case you don't know what remarketing is, simply stated, it's marketing to people through the use of dynamic digital advertisements that aim to keep you and your brand in front of your target audience consistently.

The second thing you can do to boost your nurture strategy is to get the help of either a virtual ISA or in-house ISA. With the help of an ISA, you are able to respond to more people, nurture more leads more often, and win more time for yourself to focus on other dollar productive activities in your business.

The last thing you should consider doing is taking steps to improve your overall seller experience. By offering the seller an experience that no one else can provide, you can more effectively entice them to list with you.

Some ways you could improve your seller experience include: automating the home evaluation process, providing sellers with regular market trends, listing data and other actionable insights which all can help your homeowner clients track and build wealth with their home.

The better the seller experience and the more options, visibility and control the seller has, the better.

Step Three: Leverage Technology

Finally, evaluate what tools you have available in your technology platforms to use to win more business from sellers. For example, can you use your CRM to do a reverse lookup and show your potential sellers how many buyers you have in your database that are looking to buy a home just like theirs in their local area? Most CRMs can do a reverse lookup and this kind of information can be very powerful when it comes to a seller having to make a decision between you and another agent.

Another piece of data you can provide is a seller report. A seller report is essentially a custom blueprint outlining your marketing reach and visibility so they can see just how effectively you're able to market their property to potential buyers.

Listing video ads and reporting are some other tools that can be very impressive to prospective home sellers.

Listing video ads are social ads of your listings that run on Facebook and target all of the right people automatically and are followed up with a detailed performance report. The performance report allows you to see the ad's reach, number of clicks, and engagement -- all of which can be shared with the seller.

By creatively using these types of features that certain technologies provide, you effectively separate yourself from the competition and ultimately win more listings by being the agent with the most to offer the seller client.

How to Execute All of This

We covered a lot here and you may be wondering how to realistically execute on all of these steps without becoming completely overwhelmed.

The answer is simple. The best way to put this three-step plan into action is to rely on a pure-play digital marketing company, like Ylopo, to do it for you.

With Ylopo's complete suite of highly effective seller tools, you have all of the data, ads, reporting and expert support that you need to consistently generate more seller business, build more inventory, win more listings and make more money right at your fingertips.

Learn more about the groundbreaking seller system provided by Ylopo at www.ylopo.com/seller.