Posts in Real Estate Industry News

Real Estate Industry News

Selling New Construction Homes

New Agent Tip: Jump Into Selling New Construction Homes – What to Know

Given the shortage of resale inventory in lower price brackets, new construction homes are luring consumers and inspiring a rise in building. This offers a great opportunity for helping buyers find the perfect home. However purchasing from a builder is a lot different than purchasing a resale home, and it’s essential for your clients to know the risks.

Real Estate Selling Tips for Avoiding New Construction Sales Pitfalls

– Make Sure Buyers Know Why They Need You

New construction sales teams represent the builder, with their interest at heart. With no agent representation, buyers are assuming a lot of risk. There’s no reduction in price/commission for purchasing without the aid of a buyer’s agent – builders don’t want home sales values to take a hit. Buyers won’t save any money, but lose access to a representative that will ensure key sales and build details don’t get overlooked or forgotten. Builders expect to pay buyer’s agent commissions, pocketing the difference when none exist.

– Expect to Negotiate

Builder’s reps will often give the idea sales prices are non-negotiable. While there’s not as much wiggle-room as resale homes, there is some leverage. For those that won’t budge, look to closing cost contributions or upgrades.

– Use Timing to Your Advantage

Knowing when to hold/fold can save your clients a ton: Builders aren’t emotionally attached. Big bargains can be leveraged if the builder has inventory that’s lingered on the market. Alternately, reserving a property before a second-phase addition begins can also mean big savings.

– Understand Upgrades

Get to know upgrades, ensuring buyers know which features of model homes are standard or an added cost.

– Educate Yourself . . .

. . . on architectural and site design, blueprint reading, construction methods, and materials so you can assist clients in making the best choice for their new home.

Do you have the real estate selling tips you need to navigate new home sales? Secure a brighter future with the help of PropertiesOnline today.

Real Estate Home Sales Are Hot! What's Up for the Rest of 2018?

Real Estate Home Sales Are Hot! What’s Up for the Rest of 2018?

What’s driving today’s real estate trends? Driven by low home inventory, new home sales are hot, with sales rising 6.7% in May despite extraordinarily high selling prices. This tops the far more conservative estimate of a 0.9% increase expected by economists at the Wall Street Journal.

Have We Surpassed Elevated Levels Seen Before the 07-09 Mortgage Crisis?

New home sales still remain well beyond such levels, and are up 14.1% compared to new home sales last May.

What Areas are Seeing the Greatest Growth?

Sales in the South are driving last month’s numbers, with the region experiencing a 17.9% increase in new home sales. Elsewhere in the Midwest, May sales were flat, and in the Northeast and Northwest, new home sales declined.

Will this Trend in New Home Sales Continue?

Expectations of single-family home sales by builders fell two-points in June according to the recent NAHB housing market index. Further economic growth, the creation of more jobs, and a solid housing demand, however, are expected to spur construction of more single-family homes in the months ahead.

What About Pre-Owned Homes?

Compared to sales in the first 4-5 months last year, 2018 sales of pre-owned homes have remained neutral.

How are Complications in the Sales Arena Playing a Role?

It’s commonly seen in real estate trends for low inventory to inflate prices, driving buyers out of the market, and we’ve been seeing that for quite some time now. But this isn’t the only factor complicating purchases. Mortgage interest rates rose to 4.59% in May, up more than half a point from January’s 4.03%. Labor is scarce, and lumber prices at record-highs, adding almost $9,000 to the cost of new single family homes since January of 2017. All-in-all, a harrowing time for making a home purchase.

Are you making the most of today’s hot housing market? Heat up your sales with the latest real estate trends and technology from Properties Online today­.

The 2018 Real Estate Market Heats Us

Trends: the 2018 Real Estate Market Heats Up

With experts predicting sizzling summer market conditions to continue in many states, what real estate trends are integral to buyer and seller success?

2018 Sales a Week Faster than Last Year

Sellers
Priced right, the pressure of a faster home sale has been relieved, and negotiating power improved.

Buyers
Fierce competition means 10%+ cash down and mortgage pre-approval is imperative for proving commitment to purchase. To win a home, buyers must be first out of the gate, searching daily with their list of prioritized must-haves. Then they must stand out from the competition, sweetening the pot with the help of a good agent who can draft an enticing offer.

Tip: Including a personalized photo and letter about who buyers are and why they love the home promotes a personal connection.

Higher Prices for 2018 than Last Year
Prices from February 2017-2018 have increased a shocking 10%!

Sellers
Higher sticker prices are dominating real estate trends, prompting sellers to make big plans for pocketing the payback and downsizing, or upgrading HOME 2.0.

Buyers
With only 1 of 3 homes priced under $200,000, and HALF of buyers competing for them, it’s integral in these market conditions for buyers to:
-Crunch the numbers, determining how much home they can truly afford prior to shopping.
-Stay within these constraints, and avoid getting impatient or competitive to avoid financial disaster. (Hello, 2008 housing crisis).
-Sacrifice some ‘wants’ for an affordable home.
-Expand search criteria/area to find more affordable homes.

Market Hot Spots
These top 10 market hot spots could see even more extreme competition:

1. San Francisco, California
2. Midland, Texas
3. Vallejo, California
4. San Jose, California
5. Sacramento, California
6. Denver, Colorado
7. Santa Rosa, California
8 Colorado Springs, Colorado
9. San Diego, California
10. Stockton, California

Take control of today’s real estate trends and put them to work for you with tips and tech from Properties Online today.

How to Become a Social Marketing Expert for Real Estate

Tips on What to Include in Your Real Estate Agent Website Privacy Policy

Who’d have thought real estate agent marketing would be fraught with such peril? Post-Facebook election snafu, privacy policy updates are bombarding customer emails nationwide. Aside from thanking Mr. Zuckerberg for adding to your endless to-do list, you must also ensure the compliancy of your agent website with an updated policy.

What Should You Include in Your Updated Agent Website Privacy Policy?

In real estate agent marketing, in light of recent events, it’s imperative that your privacy policy be easy to read and understand, including the following general facets:

– A general introduction noting how strongly you value and respect client privacy and safeguard data.

– A listing of the information you will collect, including:
Personal information provided by the client
Registration information
Email/phone information
Website use information (cookies)

– A section on how you will use client information (marketing, promotion, payment processing, to improve content/services, etc.)

– What information, if any, you share with third parties

– A section disassociating your business from websites linked to yours

– How you will protect information (physical/electronic/managerial measures)

– It’s also useful to provide clients a sort of technical dictionary post-policy. Information that defines cookies, dynamic ads, retargeting, etc.

– Opt-in/out procedures

– How you’ll handle privacy policy changes (email, post-to-site)

– Consent for use of website (that lovely box everyone has to check)

I’m No Shakespeare – Where Can I Find a Good Example?

A great example of a privacy policy that includes this information can be found here. Or if you prefer an easier approach, check out this free privacy policy tool. With about 15-minutes, give or take a few questions, you can ensure an understandable policy that safeguards you against liability, and adheres to most state/federal privacy laws and third party initiatives.

Changing Internet privacy policy laws have you ducking your head? Properties Online has your back with the latest real estate agent marketing tools and tips.

Five Times Bargain Hunting Leads to Buyers Remorse

Five Times Bargain Hunting Leads to Buyers Remorse

Buyers looking for a bargain? In today’s housing market, that’s a tall order. Before buyers take their thriftiness too far, they need a few real estate sales tips to warn them of the pitfalls that can lead to a regrettable purchase.

Five Times Bargain Hunting Blows Up:

Assuming a Better Deal from a Short Sale

Buyers new to the market often rely on short sales to snap up a bargain, but can be left frustrated when they fail to realize up-front how few and far between these deals are. The market has changed considerably in post-crash years. The onset of shopping is when to kindly help your buyer get with the times.

Making Huge Compromises to Score a Better Deal

In a hot market, buyers can be quick to jump the gun, compromising on homes without enough bedrooms, far from work, and trying to come in below budget. This shortsighted mentality will quickly lead to remorse within months of move-in. Help your buyer carefully rank must-haves and stick to them.

Hiring a Cheap Home Inspector (or Skipping it)

Among top real estate sales tips for buyers: A cheap (or neglected) home inspection may seem like savings out-of-the-box, but those few dollars saved could quickly lead to heartache as thousands-of-dollars in hidden home issues, from termites to electrical and foundations, surface. Reminding buyers an inspection is a tool that will allow them to renegotiate price and address dangerous issues is key.

Requesting Unreasonable/Endless Inclusions/Repairs

In today’s market, this will cost buyers a deal, fast.

Lowball Offers on Languishing Homes

Instead of cinching a deal, this costs in credibility, and often leads to bidding wars. It’s important to stand out in a positive way, especially in multiple-offer scenarios.

Do you have the real estate sales tips you need to keep buyers coming back for more? Ensure a happy home sale with the help of Properties Online today.