REMI Announces 3 Tips to Help Realtors Deal With Low Inventory
New York, NY (PRWEB) July 28, 2013 -- The Real Estate Marketing Insider announced the release of a tip-sheet tackling the issue of stretched inventory, and offered real estate agents and brokers a few tricks for helping grow a business even if the inventory shortage persists. The Insider advised agents to concentrate on non-local listing acquisition and real estate web marketing.
REMI’s tips for overcoming inventory shortage were prompted by a July 16 story in The Press-Enterprise which profiled the real estate market in Southern California; an area that is continuing to experience a housing demand which greatly exceeds the supply. Southern California currently has a three-month supply of properties while the average is about six months. The inventory shortage is the primary reason for recent price hikes, with the median price for June 2013 over 33 percent higher than in June 2012. Overall, the price growth is great news, as it will increase seller and consumer confidence in the market. In the short term however, it might be enticing for some homeowners to play the waiting game with their properties, keeping the inventory level low and pushing down sales levels.
The benefits of this inventory shortage are many: they will help pump up demand, lower market times, and raise prices back to healthy levels. Some of these benefits will take some time to show, and in the meantime realtors might be frustrated with low inventory in their home market. However, there are ways to get around home shortages in a local market and grow a real estate business through a shortage. REMI outlined three of these in its tip-sheet:
- Consider properties outside the local market that can be managed online or via a third party.
- Cultivate a brand outside the local market. This can mean online ad purchases, enhancing web presence, or starting a blog or social media account.
- Consider diversifying to an online business, which will allow for selling properties over distances and in other markets with softer inventory cushions.
The Real Estate Marketing Insider released a tip-sheet for realtors and real estate agents advising them on strategies for beating inventory shortages in their local markets. REMI’s advice included developing brands outside the local market and considering an online component for their practice.
About the Real Estate Marketing Insider:
The Real Estate Marketing Insider is an online publication covering the real estate market. Find out more about REMI at http://www.realestatemarketinginsider.com.
Real Estate Marketing Insider, Real Estate Marketing Insider, http://realestatemarketinginsider.com, (641) 715-3900 912955, [email protected]
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