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FOR THE REAL ESTATE PROFESSIONAL:
“BUYER’S AGENT MOTIVATION IN A LOW-
INVENTORY MARKET...GET MOTIVATED!” BY BRIAN ICENHOWER
(Editor’s Note: In this article, experienced real estate coach Brian Icenhower shares some of the systems Tand secrets of top real estate agents and brokerages that he has witnessed over his 30+ year career.)
he hardest market in which to be a buyer’s agent is in a buyer’s market. In 2009 and 2010, you would have to show 30, 40, or 50 properties just to get something under contract. And then it would likely fall out because buyers are fickle, and they found
another house they like more around the corner. If you need buyer’s agent motivation, just think on that for a moment.
Right now, you do not have to show any properties!
In fact, you will be lucky if you find a house that you are able to show. Showing houses is usually 80% of the job of a buyer’s agent. It is the most time- consuming part of the job! Of course, your tasks as a buyer’s agent have shifted a bit.
Now, you are writing way more offers. That is what you do during a housing boom. From 2004-2006, it was the same way. Buyer’s agents were busy writing offers all the time because it was a seller’s market. Last year, if you were going to close 20 buyer side transactions, you needed to have 30 buyers because 10 wouldn’t make it. This year, you need 80 buyers to close 20 transactions. It’s a four- to-one ratio. You will need to write (at least) four offers to get just one under contract.
AMM3 APARTMENT MANAGEMENT MAGAZINE - NOVEMBER 2021 75