Harnessing Video CMAs to Secure Real Estate Listings in a Low Inventory Market
In the current real estate landscape, securing listings has become more challenging due to persistently low inventory levels. However, there's a powerful tactic that can significantly enhance your ability to attract listings and make a real difference in your market. I’m Jenn, a real estate coach dedicated to showing agents like you how to not just survive, but thrive by leveraging modern tools and strategies.
Embracing Video to Enhance Visibility and Trust
The key activity that every real estate agent should be engaging in right now is creating and sending video Comparative Market Analyses (CMAs) to potential sellers. This approach is not just about being innovative; it’s about being proactive in a market where buyers are plentiful but listings are scarce.
The Power of Personalized Video CMAs
Here's what you need to do: overcome any hesitancy you have about being on camera. The personal touch of a video where you explain a CMA for a homeowner’s property can be far more engaging and reassuring than any written report. Film yourself running comps for a specific house, tailor your analysis to that homeowner, and then send this video directly to them via email.
Step-by-Step Guide to Implementing Video CMAs
Select Your Target Audience: Begin with your sphere of influence or choose a specific farm area where you’d like to increase your presence.
Use Accessible Technology: Platforms like Zoom or BombBomb make it easy to record and send videos directly to your clients.
Create and Send Your Video: Record a detailed video running through the comps of a homeowner’s property. Make sure it’s clear, concise, and professionally presented.
Follow Up: After sending the video, make a personal call to the homeowner. Let them know you’ve sent them a valuable insight into their home’s value and that you’re available to help with any questions they might have.
The Impact of Consistency
Commit to doing at least one video CMA per day. It might only take you 30 minutes to complete this task, but the potential return on investment is substantial. This consistent effort not only positions you as an active and engaged agent but also addresses the critical challenge of low inventory by generating new listings.
Beyond the Basics
Don’t limit yourself to just one segment of potential sellers. Expand your outreach to FSBOs (For Sale By Owners), expired listings, and anyone who has indicated they might be interested in selling. The more personalized CMAs you send out, the higher your chances of converting contacts into clients.
Conclusion: Be the Solution
By integrating video CMAs into your daily activities, you not only enhance your service offering but also position yourself as part of the solution to the inventory crunch. This proactive approach is about more than just finding listings—it’s about building relationships and establishing trust by providing genuine value to potential sellers. Remember, in real estate, visibility and credibility go hand in hand with success. Start making your video CMAs today and watch your listing numbers grow!
