Martin Zamora, a top-producing agent in the Moreno Valley-Rancho Belago-greater Los Angeles area, talks about how he has overcome the current market challenges, particularly by increasing his neighborhood prospecting using the likely-to-list analytics and expired listings.
Martin discusses the challenges of mortgage rates, how he addresses the lack of inventory, and how he handles sellers seeking to over-price properties. Martin emphasizes his prequalification process and how he handles the needs of the seller to win listings.
Part 4 of this 4-part series of interviews focuses on “overcoming today’s real estate challenges.”
Video Summary
Introduction
- Steve Cortez interviews Martin Zamora, a top agent from Century 21 in Corona, California, to discuss the real estate market and strategies for success.
Local Market Trends
- Interest Rates: Homeowners with low-interest rates (e.g., 3%) are hesitant to move due to significantly higher mortgage payments on larger homes.
- Shift in Demand: Many sellers are opting to build additional rooms rather than buy higher-priced homes.
- Major Needs Only: Most moves are driven by immediate necessity.
Biggest Challenges
- Inventory Shortage:
- Limited supply of homes available for buyers.
- Overpriced homes dominate the market, with competitive offers often falling short.
- New builds are sold out months in advance, leading to buyer frustration.
- High Demand from Renters:
- Renters eager to escape rising rental costs are driving demand.
Strategies for Success
- Increased Prospecting:
- Focus on generating more leads through active outreach.
- Enhanced Prequalification:
- Ensures sellers understand their financial situation and can handle potential increases in costs before listing appointments.
Effective Prospecting Methods
- Single-Line Dialer:
- Allows focused, personalized conversations with prospective clients.
- Helps ask better, more relevant questions to build trust.
Key Strengths
- Prioritizes clients’ best interests.
- Ensures no money is left on the table for sellers.
Most Valuable Tools
- Neighborhood Targeting:
- Uses a service to generate up to 500 phone numbers for specific areas to reach out with “just listed” and “just sold” strategies.
- Additional tools include expired listings and FSBO (For Sale By Owner) leads.
Closing
- Martin attributes his success to effective tools, a focus on client needs, and disciplined prospecting efforts.
Listing Agents are the backbone of the real estate industry… even more so with the recent court rulings on buyer side commissions. Learn more about how highly successfully agents are improving their game using the Propensity to List neighborhood service. For a white paper on how the analytics work please call us at 800-882-9155.
Steve Cortez is a seasoned real estate professional with decades of experience and owner of ArchAgent. ArchAgent brings together the tools and resources the country’s top real estate agents rely on in a single package for a low cost.