The real estate game has gone tougher this year with the low inventory and homes selling fast like hotcakes (for about 20-40% above the asking price!). It's no doubt a seller's market this year and agents commonly go through a bidding war given the low supply and the high demand. We have new agents who just boarded the ship and they may find the business in a hardscrabble season; so to keep them, and the tenured realtors motivated we researched for top tips on how to help our buyer clients around the current seller's market. Realtor Magazine published in April the article, " and we picked out 3 as our top best practices to keep in mind.
1. Stay on top of your game. Clients no matter what the current market is will always want the best agent to represent them. Your expertise and experience will play a big role to stay competitive for them. Keeping tabs on new listings, and being proactive and consistent in communicating with your clients are your keys to success.
2. What can you do to sweeten the deal? Run the extra mile, add value by doing something to make your client's offer stand out. Google and adapt proven strategies that will help your clients win.
3. Get creative with your long game. Build your network, establish a relationship with the businesses in your community, and be involved with business organizations. We recommend cultivating an exclusive relationship with builders. With new construction homes on the rise, you can help builders create highly desirable homes that meet your clients' needs by acting as a link between the expectations you gather from home buyers and the features builders are including in their homes.
This article originally appeared in the Realtor Magazine, April 2021, 6 Tips for Guiding Buyers in a Seller’s Market
Image from Canva
Images, videos, and music make our marketing campaigns fun and engaging. The internet offers plenty of sources for these for our convenience. Before we decide to use any image, video, and music for our branding, we have to make sure we do not infringe an owner's copyright. NAR released on December 1st, 2020 a short video of risk management points to keep in mind to prevent future lawsuits and to avoid costly mistakes. So, before you play that funky music (live or recorded) at your next open house, make sure to secure a performing rights license.
Watch the video to learn more: Window to the Law: Using Images and Music in Your Business
Image by Barry D from Pixabay
Getting the trust of sellers and buyers to do real estate business with us starts the realtor-client relationship. Adding a wow-factor takes that relationship to a whole new level. Having a piece of in-depth knowledge on the real estate tools is crucial to make our business be ahead of the game. Going out to show properties takes about 80% of our time as realtors, and if there is one tool that will make a showing appointment, feedback, and report generation easy, that will be ShowingTime that is provided by many Multi-List Services. Here are the top three reasons why realtors should use ShowingTime.
If you are planning to become a homeowner this year, these three facts about fall real estate will help you make an informed decision.
Image by Jens Neumann from Pixabay
1. Price Fluctuations Zillow reports show that around the same time last year, there is a 4.1% increase in the median home value in the USA. With Coronavirus coming into the picture, fall may see home values drop across the board, causing a bottleneck in the housing sector. While prices are forecasted to decline, experts believe that it to be temporary, and the housing market will see a sooner increase in some areas due to the restrained demand. Given the housing situation, the question for many homebuyers remains, is it a good time to buy a home? Yes, the fall real estate market may be the perfect time to be a homeowner.
2. Low Inventory.
The low inventory levels limit the housing market from optimizing its potential; there are not enough homes to keep up with the demand. Distinctly, new construction homes are becoming more popular and are adding to the supply of housing inventory. For homebuyers who are looking for green and energy-efficient dwellings, the new construction projects would be their best option.
3. Low Mortgages. The Federal Reserve announced that it is going to keep the mortgage rates low for the next few years. As of August, a 30-year fixed-rate mortgage carried an interest rate of 2.94%, according to Freddie Mac. Although buyers aren't sure how long rates will remain this low, today's rates are saving homebuyers a lot of money over the life of the loans and allowing them to buy more house!
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