Where to find Clients when the market is down...
You might start by expanding your niche to selling repossessed homes. Right now, thousands of homes across the U.S. are being repossessed. And someone is buying them. And, while it isn't easy to get your foot in the door as the listing agent, you can create a business by selling them.
Think about contacting those entrepreneurs who are buying and rehabbing for current rentals and future sales.
Drive around neighborhoods - look at where the remodeling / rehab activity is, write down addresses and go to the courthouse to see what you can learn. If you find that the property has recently changed hands, that buyer may be a good prospect for buying another.
You can also check the public records for building permit applications. In many communities, remodeling can't take place without a permit, so once you have t he name, work on finding out if this is a recent purchase or merely a homeowner making improvements.
Then, if it's a recent purchase, just screw up your courage and go talk to them.
These are busy guys - and they might appreciate having a sharp agent on the lookout for their next bargain. Find out what they need in terms of price and size, and then let them know every time you find one.
Next, contact your favorite lender, take him or her out to lunch, and learn all you can about the process of closing short sales. They're a pain in the neck, so you might find you don't want them. But then, if other business is slow, it might be worth your effort.
With some determination, you can turn the current down market into your personal gold mine... so get out there and do it!
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