The old saying “List to last” couldn’t be truer than it is today. Agents who only work with buyers can find themselves working harder than ever, but not getting to the closing table. That’s what happens when there are far more buyers than sellers. And it leaves agents wondering where to find listings.
In this, part 1 of where to find listings, let us consider second home owners.
At least some of those individuals or families who own second (or third) homes aren’t using them – at least not often.
There are all sorts of reasons why.
- Perhaps as their families grew they became interested in activities that led their vacations to other spots.
- Perhaps the kids are grown now, and that second home is simply too large for a couple – or a single.
- Perhaps they have friends and family who relocated to other areas and they’d rather go visit them than spend time in a vacation home where they no longer know the neighbors.
- Perhaps they’d like a little more variety in vacationing.
Whatever the reason, since prices have skyrocketed, now would be a fine time to cash out.
Are we now in a real estate bubble?
Many say that doesn’t mean we’re in a bubble, but that could be wishful thinking. What it means is that prices could tumble again.
With all that in mind, prospecting to second home and vacation home owners could be a good solution to “Where to find listings.”
If you don’t know what to say to them, use my second home/vacation home prospecting letters. I updated the set for 2022 by adding a 9th letter: “Are we in a real estate bubble.” The letter doesn’t make any predictions, but does introduce the idea as something for them to consider.