Interest rate increases have done little to quell home buyer demand throughout the country. As the Washington Post noted recently, though the latest ShowingTime Showing Index® did indicate a few drops in showings per listing in some markets compared to the same period of time last year, those dips are minor in the context of last year’s historic surge in demand. Moreover, any modest drops occurring are nevertheless taking place where buyers and their agents still must navigate dwindling available inventory in the face of enduring strong competition from other homebuyers.
Barring an unseasonable slowdown, it seems likely that the conditions we’ve seen this spring will continue into the summer. While that’s great news for sellers and their agents, it can be a very different story for buyers.
If you’re a buyer’s agent and the prospect of a hot summer season is starting to make you sweat, fear not! ShowingTime has features and services specifically tailored to help buyer’s agents coolly navigate a hot seller’s market. See below for a few ways buyer’s agents can leverage ShowingTime this summer to take the heat off the process.
Give Clients an Edge on Popular Listings with ShowingTime’s Waitlist Feature
Showings are an essential part of the home buying process, so when a buyer’s agent finds a promising listing with no availability for a showing, that’s typically a non-starter. In today’s market, where it’s common for listings to receive showings that number in the double digits, showing availability may be nonexistent for many listings a buyer may want to see.
To account for this situation, we’ve introduced the Waitlist feature. As the name suggests, buyer’s agents can join a Waitlist on a listing that has no available time. If a time does open, for example if another agent cancels or reschedules their appointment, those who are on the waitlist will be notified of the opportunity to schedule a showing.
Since its introduction, ShowingTime’s Waitlist feature has been used to schedule more than 50,000 showing appointments. Clearly, this feature has already proven to be an essential part of the ShowingTime showing experience, and it’s likely that number will increase considerably as summer approaches.
For an overview of how to use the Waitlist feature, view the explanatory video below or click here.
Make One Call to Do it All with ShowingTime Appointment Center Plus
A buyer’s agent must do a lot of legwork for clients daily. With demand high and inventory low, that legwork can approach unsustainable levels. This burden can not only affect the service of current clients, but it can also prevent agents from focusing on other revenue-generating tasks, like lead generation.
With ShowingTime Appointment Center Plus, buyer’s agents can offload much of that legwork on to ShowingTime’s expert appointment specialists. The upgraded service is tailored specifically to the needs of buyer’s agents, allowing them to make a single call to our appointment specialists to schedule an entire day of showings. Best of all, once showing requests are confirmed, our specialists will notify the agent and share the showing instructions, eliminating phone tag once and for all.
In today’s market, the benefits of being able to quickly schedule a day of showings with a single call can’t be overstated. And, since appointment specialists are available to take calls 24/7, agents can take care of scheduling at a time that accommodates their busy schedule. With ShowingTime Appointment Center Plus, an agent can give buyers a serious competitive advantage over other buyers whose agents schedule showings in the slower, traditional way by calling each listing agent individually.
Prepare Buyers for What to Expect with MarketStats
Listing agents and sellers aren’t the only ones who stand to benefit from access to the latest market data. Market statistics are an invaluable tool for providing informed guidance to buyers as well. In stressful markets for buyers, the latest local housing data can be a welcome sight for removing uncertainty about what to expect in the weeks to come.
MarketStats, ShowingTime’s suite of market statistics services offered at the MLS/association level, can be used to produce easy-to-read reports that offer a high-level look at relevant market intelligence. These reports can be shared with buyers to get an idea of current market conditions. When used to compliment an agent’s own insight and experience within a market, MarketStats can be a useful ally, especially in markets that may be less favorable for buyers.
As the summer approaches, the hot market may get hotter. With ShowingTime, you can prepare yourself – and your clients – for the conditions to come.
ShowingTime services help agents representing buyers and sells alike. Whether you already use ShowingTime as an MLS/association feature and are considering an upgraded level of service, or you’re new to the ShowingTime ecosystem and want to learn more about our offerings, our dedicated Sales Team is available to discuss your business needs. Click the button below to reach out to them today.