When housing inventory is low, it pays to get creative when finding houses for your buyers. Instead of waiting for homes to come on the market, be proactive in finding potential home sellers. Waiting homebuyers will be grateful! Let's look at 3 different approaches to finding homes for your buyers.

1. Announce Homebuyer Needs

What are your buyers looking for in a home? Whether the homebuyer is looking for 3 bedroom/2 bathroom property or an older home on 3 acres, posting the information on social media may get the attention of a prospective home seller. Potential home sellers may read your post and realize their home is a good match and give you a call.

Social Media Post:

2. Open House Contacts

If you've held an open house in the last year, you've got a list of potential home sellers. Reach out to these open house contacts, let them know you have a buyer, and see if they are interested in selling their home. If you took notes on their visit, you're going to have more staying power. Here's what I mean:

Call Script:

“Hi _____.  My name is ______, and I met you over at the open house on Griffin. I'm the one who wore flip flops because I stepped in dog poo in the backyard." <laughing>

Homeowner:  <laughing> “I remember.  We started talking about my dog……."

"That's right! You had your daughter wait outside with your dog while you toured the house. Did you ever find a house to buy?"

Homeowner: "No. We decided to wait. We like our house but eventually want to move closer to our grandkids."

"Oh yeah. You were going to move near Boise. How old are the grandkids?"

(Homeowner shares details.)

"I know you talked about downsizing. Your home is 3 bed/2 bath, right?"

Homeowner: "Yes. Too much house for two people. My kids have an apartment in their basement, and we will eventually stay there until then find a home in Boise."

"I'm working with a small family who's looking for a house like yours. Their kids go to school just down the street from you. I think they would be interested in your house. Would you consider putting your house up for sale again if they made a serious offer? They're flexible on closing times. You could be on your way to Boise in no time! What do you think?"

That is an excellent start to a conversation with a potential home seller that could score your buyer a new home!

3. Expired and Withdrawn Listings

Research expired and withdrawn listings to find homeowners who want to sell their homes. Homeowner's agents may have removed their listings in the past because of a lack of interest from buyers. They may have received poor feedback on the condition of their home and have since remodeled and are looking to put it back on the market.

Call Script:

"Hi ____.  My name is _______, and I remember seeing your house listed for sale last year."  <pause>

Homeowner: "It didn't sell, and I'm not interested in going through all of that trouble again to end up with the same disappointment."

"I can understand your frustration. Why do you think your house didn't sell? Did your agent give you some feedback?"

Homeowner: "I guess people aren't interested in putting any sweat equity into a home these days. Although my home is outdated, it's immaculate. My agent suggested I remodel the kitchen and bathroom. I don't want to put that kind of money into this house. Besides, the next owner might not like the style of the remodel."

"You're right, it can be costly to remodel a home, and everyone has different tastes in design. Your home is 3 bedrooms, 2 bathrooms?"

Homeowner: "Yes. There's a large bedroom in the basement too, but it isn't legally a bedroom because the window hasn't been upgraded to an egress. My point is there's plenty of room for a family."

"The potential to add another bedroom is fantastic. I'm working with a family with 2 small kids, and they are trying to find a home like yours. They don't shy away from doing a bit of DIY work. Would you consider putting it up for sale again if this family showed interest in buying your house?"

I understand that not all calls to homeowners will go like this. If they decline to talk on the phone, you can always send a handwritten postcard showing interest in their home. You need to find a home for your buyers, so don't give up!

Postcard Script:

“Hi ____.  I called the other day because Graham and his family are looking for a house to buy, and they thought your home might be a good fit for them. Their kids are 8 and 10 years old and go to school just down the street from your house. Would you consider putting your house back on the market? They're flexible on the move-in date and will pay closing costs. Please give me a call and let me know your thoughts. Thanks for your time! [Name, agency, phone, email]"

Conclusion

Finding homes for your clients may take a bit of ingenuity whether you reach out on social media, make contact with open house visitors, or revisit expired and withdrawn listings. When housing inventory is low, what methods do you use to find homes for your clients? Please share your strategies in the comments below. Now get out there and find some homes for your clients!