Posts Tagged as featured

Profile of Home Buyers and Sellers

The Informed Agent – NAR statistics

Years ago, if you wanted to buy a house, the first thing you’d do was pick up a local newspaper. Those days are officially over. According to the latest NAR statistics, only 1% of home buyers find their house this way anymore. Still, 27% do actually look through the home classified ads in the newspaper in conjunction with more preferred home search methods, such as the internet (90%), through an agent (87%), yard signs (53%) or visiting open homes (45%). At the end of the day, 42% are more likely to sell a home by listing on the internet, as opposed to the newspaper. Do you know these important facts? Are you an informed agent?

Perhaps of even greater interest is that fact that a prompt response is one of your strongest weapons as an agent. The first agent to respond to a home seller usually gets the listing. Sixty-six percent of sellers go with the first agent they contact.

Are you using video to sell homes for your clients? If not, you should be. 73% of homeowners say they’re more likely to list with a realtor offering to do a video, yet only 14% of agents create listing videos.

The internet is the most popular place to advertise a listing – 93% of agents market their listings on the internet. This is followed in popularity by yard signs (79%) and open houses (55%). Syndication sites are used by 28% of agents, and 7% are now using social networking sites to market their listings.

Technology increasingly helps real estate sales happen. It provides real estate agents with a competitive edge, reduces lag time in responding to clients (buyers and sellers), makes an agent appear more current, saves time and money, and more. It’s understandable, then, that 48% of agents and associate brokers would like their broker to expand the amount of technology provided.

SOURCE: The Broker Report

Social Media

How to Build Your Real Estate Business with Social Media

To put it quite simply, you should be where your prospects are. Since more and more people today use the Internet in general, and social media tools in particular, you should be using social media too.

You do need to be aware that social media works differently than traditional marketing, and adjust your expectations accordingly.

Social media is not about one-way promotional messages. It is about being social – having real conversations with people, engaging them, and getting to know them – while allowing them to get to know you.

This is a process that takes time – many months usually – so if you want results “now,” you will be disappointed. However, if you don’t use social media, you will lose out long term, allowing your competitors to build a presence and connections while neglecting to build your own.

The best way to use social media is to start an account in one of the platforms available today (focus on just one at first), and start building yourself as an expert. You can use a blog, a Facebook page or a Twitter account. Whatever channel you use, the idea is to add high quality content that shows prospects how knowledgeable you are in your space. Be generous about sharing tips, personal stories and your own take on news stories.

You must have heard by now the phrase “content is king,” and as much as it’s become a cliché, it is actually true. There is so much low-quality information out there, that if you are able and willing to produce high-quality, helpful social media content, you will gradually build a name for yourself as a real estate expert.

kwelia

Real Estate Competitive Intelligence Pilot Program Kwelia

Property management technology startup company Kwelia is in the beta testing phase of its exciting new Competitive Intelligence product, and is looking for real estate professionals to test the software.

Using proprietary market data, Kwelia builds sophisticated statistical models to determine market values for apartments in specific areas, based on detailed characteristics.

“We integrate market data with your portfolio data to determine a competitive rent price for each unit in your portfolio,” the say. “In doing so, we save you valuable time and minimize the amount of money you leave on the table.”

Why use Competitive Intelligence?

Revenue Growth. Pricing competitively based on local market conditions drives traffic to your properties, while simultaneously protecting you from conceding too much. The result is reduced vacancy and more efficient pricing leading to overall revenue growth.

Multiplier Effect on Value. Small revenue increases compounded across a large portfolio can be immensely valuable, particularly at the end of an investment term when a sale or re-fi is being considered.

Isolating Other Problems. Implementation of competitive pricing can help to discover inefficiencies in other parts of the business, ranging from marketing to maintenance.

Join a small group of other real estate professionals who are participating in the private pilot program, before the product becomes available to the public. Sign up here to be part of Kwelia’s pilot of its Competitive Intelligence product beta.

home prices

Top 12 Cities where Home Prices have risen the most

This is very good news for my fellow Californians where 4 of the top 12 cities are located in our state! The following 12 cities experienced the largest percentage increases in home prices among cities with populations of more than 250,000 from 3/2012 – 3/2013.

12. Boise, Idaho

One-year change in home prices: +15.6%
Median home price: $127,000
Change in price since 2006 peak: -36.3%
Unemployment rate: 6.5%
Foreclosure rate: 1 in every 243 households (High)
Distressed sales: 17.8%


11. Santa Rosa, California

One-year change in home prices: +15.9%
Median home price: $380,000
Change in price since 2006 peak: -38.4%
Unemployment rate: 7.6%
Foreclosure rate: 1 in every 369 households (Low)
Distressed sales: 25.8%


10. Atlanta, Georgia

One-year change in home prices: +17.4%
Median home price: $115,400
Change in price since 2006 peak: -42.8%
Unemployment rate: 8.3%
Foreclosure rate: 1 in every 154 households (High)
Distressed sales: 28.3%


9. San Francisco/Oakland, California

One-year change in home prices: +17.9%
Median home price: $470,000
Change in price since 2006 peak: -38.7%
Unemployment rate: 7.1%
Foreclosure rate: 1 in every 392 households (Low)
Distressed sales: 12.2%


8. Reno, Nevada

One-year change in home prices: +18.3%
Median home price: $240,000
Change in price since 2006 peak: -49.2%
Unemployment rate: 9.6%
Foreclosure rate: 1 in every 221 households (High)
Distressed sales: 34.5%


7. Sacramento, California

One-year change in home prices: +18.3%
Median home price: $240,000
Change in price since 2006 peak: -49.2%
Unemployment rate: 9.6%
Foreclosure rate: 1 in every 221 households (High)
Distressed sales: 34.5%


6. San Jose, California

One-year change in home prices: +19.0%
Median home price: $660,000
Change in price since 2006 peak: -22.6%
Unemployment rate: 7.6%
Foreclosure rate: 1 in every 583 households (Low)
Distressed sales: 16.0%


5. Seattle, Washington

One-year change in home prices: +19.2%
Median home price: $290,000
Change in price since 2006 peak: -23.5%
Unemployment rate: 6.6%
Foreclosure rate: 1 in every 176 households (High)
Distressed sales: 20.5%


4. Las Vegas, Nevada

One-year change in home prices: +20.7%
Median home price: $149,000
Change in price since 2006 peak: -57.9%
Unemployment rate: 9.8%
Foreclosure rate: 1 in every 99 households (High)
Distressed sales: 42.9%


3. Bremerton, Washington

One-year change in home prices: +20.7%
Median home price: $225,005
Change in price since 2006 peak: -30.9%
Unemployment rate: 8.3%
Foreclosure rate: 1 in every 216 households (High)
Distressed sales: 22.6%


2. Salt Lake City, Utah

One-year change in home prices: +24.1%
Median home price: $164,100
Change in price since 2006 peak: +1.4%
Unemployment rate: 5.0%
Foreclosure rate: 1 in every 215 households (High)
Distressed sales: 16.6%


1. Phoenix, Arizona

One-year change in home prices: +26.2%
Median home price: $174,900
Change in price since 2006 peak: -46.5%
Unemployment rate: 6.7%
Foreclosure rate: 1 in every 184 households (High)
Distressed sales: 21.7%

Source: Clear Capital, Yahoo News

Craigslist Real Estate For Sale

Why Craigslist is Your Ticket to Home Sale Leads

For all the attention given to Zillow and Trulia, the fact of the matter is that even if you combine their power, Craigslist still drives more traffic to single property websites. Craigslist’s sheer size, volume and community offer a landmine to real estate agents online. This is why Craigslist is your ticket to home sale leads.

Seasoned agents know the truth – when you place a listing on Craigslist, it gets you more traffic and leads than any other real estate portal.

Craigslist was started in 1995 by Craig Newmark with the modest goal of helping people find affordable housing in San Francisco. It is now the most popular online classifieds website in the world, with over 10 million monthly visitors.

“Agents can take advantage of this huge traffic by posting free ads and by scanning ads seeking homes and answering them,” says Amanda Cornelius, cofounder and CEO of Properties Online.

Craigslist is free to use in most locations, making it a valuable, affordable lead generating machine. Create single ads for specific properties, or an ad listing all your available properties for an area, with no coding design or HTML knowledge necessary.

Furthermore, Craigslist is targeted. The real estate section goes a step beyond cities, localities and topics, allowing the agent to select from categories such as apartments/houses for rent, office & commercial, real estate for sale, vacation rentals and more.

Make the most of Craigslist and your single property websites by:

Including images in your ad – pictures prompt responses.

  • Choose your title carefully – be descriptive, catchy and consider words that buyers will use when searching for a property like the one you’re listing/selling.
  • Take advantage of Craigslist Flyers, through the flyer builder program offered by Properties Online. These will generate a snippet of HTML code that will dynamically pull all your listing details, property photos and your contact information. This HTML snippet enables you to easily cut and paste your data into online classified sites such as the very popular Craigslist, Backpage or Ebay. And it’s free with your subscription!
  • Regularly post relevant Craigslist classifieds that point to your listings and include a link to your single property page to drive significant amounts of highly targeted traffic to your property websites.
  • Track your results with ad campaign statistics to see exactly how many views your classified ad received, and how many people clicked through to your listing domain website*.

*You can expect anywhere from 5% to 10% of people viewing an effective ad on Craigslist to click-through to your website. The Properties Online system achieves a 15.9% average click-through rate.