It's a Buyer's Market - Highest Inventory of the Year!

Read the full video transcript below:

Anthony Lamacchia: Is the first week in October, folks, highest inventory of the year. Stay with me. I’m going to explain to you the way that buyers are going to act over the next six to seven weeks. Right now, we’re at the point, particularly in the Northern States, that inventory’s at its highest point. That always happens last week of September, first week in October and it’s right on track this year.

I’m not going to get into why, but that’s how it goes. Right now, even though there’s a lack of choices, there are more choices for buyers than there have been. More choices for buyers than there have been. You need to point that out to your buyers. You need to dig through properties that haven’t sold very important. Go back through active inventory. Stop being so addicted to new inventory coming on the market, number one.

Number two, for about the next 10 days, you’re going to see an attitude out of a lot of buyers that is, “I’d like to buy, but let me look around because they see choices,” because they see properties that aren’t selling. Now, when we get around October 15th or October 20th, you’re going to suddenly see buyers have a little bit of spring in their step and that’s going to last till about November 15th.

It’s usually a 20 to 25-day period and pendings usually dramatically pick up from– there’s like a surge in pendings from the end of October until late November. ’cause remember, the pendings hit like seven days after the buyer activity surges. Be aware of that in what you need to do over the next two weeks is get back in touch with as many buyers as you possibly can. You need to reach out to everyone.

Those that called on your listings months back, those that you lost touch with, those that you showed properties to and they fell off. You need to dial your telephone and get in touch with everyone. Text them properties that have come on, text them properties that are still on that haven’t sold. “Hey, check this out. It still hasn’t sold. I think you ought to take a look at it. I’m sure the seller’s considering a price adjustment.”

That type of stuff you have to do. Get in touch with these people, because you will see, they will start to put pen to paper, come mid to late October and it’ll be like that for about a month every single year. Get an action folks or in a contact business, contact spot. The more people you’re in touch with, the more business you’re going to do. Hope that makes sense. I’ll have a wonderful, wonderful day. Thank you. Happy home selling!

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