Posts Tagged as Real Estate Agent Marketing Tips

Real Estate Trends

What to Know About Regions Where Home Prices Are Increasing Faster Than Incomes

It’s no news to agents, real estate trends point to the continued appreciation of home prices. What does this mean for sales?

A Shortage of ‘FOR SALE’ Signs Drives Prices Higher
The Mortgage Bankers Association’s Chief Economist noted a lack of listings in the housing market is driving prices higher. Despite already high prices, bidding wars are not uncommon.

Wage Stagnation Complicates Matters
American wage growth is being left far in the rearview, with home prices increasing at staggering levels twice that of income growth. On an annual basis, wages are growing just 2.6%, with a less than expected 0.1% rise in February. Stubbornly stuck, lackluster hourly earnings have been well-documented on government employment reports.

Prices Now Higher than the 2006 Peak Before the Housing Crisis
To add insult to injury for income-strapped buyers, national home prices have risen 6.2% annually based on the most recent S&P CoreLogic Case-Shiller survey, to levels now 6% higher than their peak before the housing crisis.

Lack of Supply Lags On
A housing shortage continues to constrain the market, with the absolute number of units on the market nearing record-low levels. Though homebuyers have tried to step up the pace, new homes are not filling market shelves fast enough. And this insatiable demand is horrifyingly happening before the peak of Millennials entering the housing market.

Mortgage Interest Rate Rises but a Minor Speedbump
In current market conditions, the fact that mortgage rates are at around 4-year highs isn’t offering much relief. Those hoping rising prices are among passing real estate trends are out of luck.

The wave of increased housing demand is expected to continue, bolstering steady growth and affecting the economy over the next 4-5 years. The supply crisis is not letting up, and neither are gains in home values.

What real estate trends are taking their toll on your bottom line? Stay in the game with the help of Properties Online today.

Dual Agency? Make Sure You Cover the Details with Potential Buyers and Sellers

Tips for Selling “Now’s the Time to Buy” to Your Prospects

In today’s real estate market of rising prices and limited inventory, it’s not uncommon for buyers to drag their feet, especially those just coming out of foreclosure. How can you reassure buyers in such uncertain times? We’ll take a closer look in today’s real estate marketing tips.

Relief is On the Horizon
Experts agree, current levels of price appreciation are unsustainable, and inventory shortages won’t go on indefinitely. More moderate home appreciation and rising inventory levels are forecasted for this year, creating more opportunities for buyers. How can you take advantage of rising consumer confidence?

Point to these Factors for Buyers Taking the Plunge:

Rising Interest Rates
After years of record lows, interest rates are on the rise, with one rate increase at the end of 2017, and two to four more predicted. Anticipated to hit 5% by end-of-year, these rises impact affordability, raising monthly payments. The key real estate marketing point is: The longer potential buyers wait, the more expensive a home purchase is likely to be.

Climbing Prices
Though price appreciation will vary by market, all but red-hot markets are expected to lose steam. Increases are forecasted at 3.2% year-over-year for 2018, following 2017’s 5.5% jump, with 2.5% year-over-year increases expected thereafter. In either case, you can’t gain an appreciation on a home investment you don’t make.

Rising Inventory
The tide is expected to turn by fall of this year, with inventory of homes in mid to upper-level price points seeing the majority of inventory growth. New home construction will also expand, but more slowly, with tightening bank financing, lot/land availability, higher building materials costs, and labor shortages affecting the ability of builders to provide homes at entry-level/first-time prices. We predict an upswing in this sector in 2019 and beyond.

Do you have the real estate marketing tips you need to bolster buyer confidence? Put yourself on the path to success with the help of PropertiesOnline today.

New Agent? Don’t Fall Prey to these Antiquated Misperceptions

New Agent? Don’t Fall Prey to these Antiquated Misperceptions

Those considering or just getting started in real estate often take to heart antiquated real estate selling tips. Post housing market crash, and with the inherent implications of today’s mobile and digital era, there are new rules…

Don’t Fall Victim to False Impressions
These erroneous beliefs top the list of things that cost new agents a future in the real estate industry:

1. Overinflated expectations.
While it’s good to think positive, many agents have greater expectation at their career onset than their budget can support. High income expectations, coupled with underestimated expenses, take many new agents off the market within their first 2 years in the field.

2. Making it on family/friend referrals.
Your entry into the real estate industry does not mean that all of your family members and friends will miraculously list and/or purchase a home. Or do so with you. While you may earn a few referrals from this group, it pays to realize your friends and family may already have trusted associates in the realty business.

3. Relying on advertising brokers.
Have your name mentioned on a broker’s website or in their print advertising? This floor time is great, but it’s not going to net you a deluge of weekly leads. It’s going to take far more legwork than that.

4. Losing potential customers to ‘assumptions.’
When new customers approach, assumptions can be deadly. Is that potential buyer with the dirty, torn clothing broke, or the working owner of the local construction company? Big deals often come in surprise packages. Look to every customer as a prospect, treating them in-kind – or you could quickly regret it.

Are you getting the right real estate selling tips to safeguard your future career? Look to the leaders who have evolved alongside the industry. Find the help you need with the latest tools and technology from Properties Online today.

Great School Districts Help Sell Homes!

5 Tips for Pricing Homes in Great School Districts

For families on the hunt for a new place to live, school district quality is of prime concern. Whether trying to keep kids close to friends in an existing district or seeking out one where the proverbial grass is greener, many are willing to pay up. But how much should real estate selling be influenced by proximity to a great school?

Setting Home Prices in Good School Districts Without Pricing Out Buyers
When puzzling out prices, consider…

  1. Statistics Lie
    Though 1-in-10 would pay 20% more, and 1-in-5 pay 10% more for homes in good districts, a significant portion of buyers will NOT pay these inflated prices for the school alone. And we all know the dangers of overpricing listings.
  2. Location is King
    As always, look to current sales in the area as a means of determining home value, running a full market analysis based on the school district as a factor.
  3. The Need for a Specific Locale Varies by School Type
    Public school ratings should be key when determining sales price. Though it is convenient for families to be close to private, charter, and magnet schools, public schools alone require an address in a specific area to attend.
  4. ‘Parent-Approved’ Walking Distance
    Homes within walking distance from schools can go at a premium. However, how far you think a child can safely walk home may differ greatly from what a parent thinks. Consider instead how many children are walking home in the afternoon – a couple, or masses – when setting your price.
  5. What Really Matters to Buyers
    In the end, the majority of parents choose the option best-suited for their child over square footage and amenities. Be mindful when raising prices, however. Your listing won’t be the only one on the market, and greedy pricing can push cash-strapped parents to acceptable neighboring schools.

Looking for A+ real estate selling tips? Find them at Properties Online today.

Selling New Construction Homes

Living the Dream: Taming Seller Expectations

In today’s sellers’ market, it’s easy for homeowners looking to list to be living with their head in the clouds. In this week’s real estate agent selling tips, we’ll look into common seller misconceptions that can cause homes to remain on the listing market.

Do You Need to Bring Sellers Down from these Listing Myths?

* You’ll always make money
Selling a home for more than was paid for it isn’t a given, and varies by market. This is where sales data offers key insight into realistic values.

* Price high to reel-in the dough
Sky-high pricing schemes can lead to listing lag-times. In essence, you’re sacrificing prime advertising time on the off-chance someone will overpay for your home. (Buyer’s agents advise shoppers to steer clear of these homes.)

* Overpriced? It’s no big deal to lower it later
Reality is, shoppers assume listings that have labored on the market have something wrong with them, and will look elsewhere – or underbid. Pricing right from the start facilitates a quick, easy sale.

* Low pricing stifles offers
This often counterintuitive strategy can offer big returns, drumming up massive interest – and bidding wars – as the competitive spirit (and egos) come into play.

* Past appraisals provide accurate pricing
Appraisals from past refinancing are out of date and do not properly reflect current value information. Much can change in a few months. The most reliable appraisals should be current – no more than 60 days old.

* Just add the cost of renovations onto the home price
Sellers often assume whatever money they’ve shelled out for recent renovations will be returned in-kind. But the truth is: the full investment is rarely recouped. On average, sellers earn back 64% of home improvements investments – but this return varies greatly by renovation/addition type.

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