Tight Housing Inventory Slowing Down Business? Try Cold Calling
When housing inventory is as tight as it is -- it hit a 13-year low in January -- it gets pretty tough for buyers to even find homes for sale. And if you're a Realtor, that means slow business for you. There are very few buyers or sellers to represent. So what's a gal to do? Well, like any good salesperson looking to drum up business, you cold call.
That might seem like a telemarketer's job, but cold calling is becoming increasingly relevant to real estate. How does a cold call work for a Realtor? It's a little unconventional -- and maybe somewhat awkward -- but it's basically calling a homeowner and asking if he/she would be willing to sell the home. (Hopefully, they didn't just move in!)
As KUSA-TV in Denver reports, Realtors in that market are turning to the tactic as the supply of homes for sale dwindles further. According to KUSA, 6,682 homes were on the market in Denver in March, and about 6,000 of those went under contract. That's a fast-moving market! But does cold calling really work? According to Inman News columnist Bernice Ross, cold calling can score an agent some serious referrals and even listings. But you have to have patience, and don't give up (no matter how bad your fingers hurt from dialing). One bold real estate agent was able to score a client's dream home -- which wasn't for sale -- by walking up to the front door, knocking and asking if the homeowner was interested in selling. As it turns out, the homeowner was.
See more on homebuying:
More Young Couples Say 'I Do' to Buying a Home Before Marriage
Listing's Stale? 6 Ways to Land a Home Sale
VIDEO: Home Inspections for Sellers
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Find homes for rent in your area.
Follow us on Twitter at @AOLRealEstate or connect with AOL Real Estate on Facebook.