Posts Tagged as real estate trends

Does the Real Estate Sales Need an Update?

Is the 6% Real Estate Sales Commission Outdated?

The Internet is changing the real estate business, continually drawing into question the current commission regime: typically 6% of the average home sales. With buyers doing a lot of the legwork, seeking out properties and neighborhood stats online, this is leading many to question whether that $18,000 chunk of change (6% of the average $300,000 home) is a worthwhile investment.

Why the 6%, Anyway?
Back in the day (the 40s-50s), the National Association of Realtors (NAR) required its members to set commissions at a certain level, either working full-time, or holding enough customers to earn a living in order to join and get access to the Multiple Listing Service (MLS).

A 1950s Supreme Court ruling deemed these ‘certain rates’ illegal. So the NAR changed them to ‘suggested’ rates. How it originally became 6% remains unknown. But since federal tracking of rates began in 1991, it has fallen from 6.1% to 5.18% in 2014.

Should Your Rates Be Dropping?
Real estate selling services are typically bundled, sometimes requiring consumers to opt-in for options they don’t need. On the…

Seller’s Side
Marketing, advertising, open houses, and price negotiation.

Buyer’s Side
Listings, showings, market research/knowledge, navigating the purchase process.

As consumers seek to ‘unbundle’ these services in the increasingly DIY Internet world, they are turning to services such as Redfin and ListingDoor, asking for/actively seeking agents outside of the traditional commission structure.

Rate Reductions & A La Carte Services
With this ‘get what you pay for’ mentality in mind, consumers and agents are looking for rate reductions in exchange for a reduction in services rendered, as a $300,000 home doesn’t necessarily cost twice what a $150,000 home does to sell (though it nets double the commission). As the market changes and grows increasingly competitive, such tactics may be worth a second-look.

Do you have the real estate selling tips you need to roll with the times? Stay ahead with the help of Properties Online.

Get the Angle You Need to Up Your Marketing Game

Drone Videos Give Home Buyers a “New Perspective”

As federal drone use laws have become clearer in recent years, the use of drone photography has continued to grow in popularity in real estate marketing. As a fresh way to spice-up listing photos and video, the unique views provided by drone-captured shots offers buyers a far more complete perspective not only of homes, but their surrounding neighborhood and area amenities.

Marketing that Makes an Impact
A far cry from Google Earth’s satellite views – which leave a lot to be desired – drone video goes beyond simple and common front and rear exterior photography, providing a top-to-bottom, 360-degree view of a home and surroundings. The added dimension and additional information provided can help cinch sight-unseen sales for out of state buyers, and in some cases even drive-up property prices via the showcasing of expansive natural views or sought-after amenities.

Getting the Bird’s Eye View
Adding drone photography to video usage in real estate marketing is more intense for commercial drone pilots than those who fly recreationally. Those snagging real estate shots via drone need a Federal Aviation Administration drone pilot’s license.

Training in drone usage and photography are essential, as is insurance against mishaps. For example, rules forbid flying over people, allowing the drone out of the line of sight, etc. It also takes a good deal of practice to both ensure the safety of the public and get clear shots while flying these miniature marvels. Fortunately, there are a host of reasonably priced drone services for hire to handle your shoot. All you have to do is Google ‘find a drone photographer near me’ and choose among area providers.

Soar above the competition, giving prospective clients a new perspective. Take advantage of these and other tips and techniques for video usage in real estate marketing. Boost your impact with the help of Properties Online today.

Prices Rise for Convenient Locations

Public Transit Access Drives Up Real Estate Value in Key Markets

Concerned about selling a home near public transit access? Today’s real estate trends point to a public in love with mass transit, particularly new public transit additions. Transforming the local markets into which they are integrated, such public transit initiatives have home and rental prices on the rise in cities across the nation as residents anticipate their arrival.

All Aboard!
Bucking the assumption of crime, these new lines are remaking struggling neighborhoods and sleepy communities into safer, more popular, highly-desirable places to live. What does this mean for sellers? Buyers want an all-access pass, pushing home prices up close to stations. New restaurants, stores, and entertainment further increase area prices, bringing added opportunities and the need for additional homes to be built.

Are We There Yet?
Near one stop on the East Side of New York, real estate trends point to home prices near stops up 11.1% in the last 3 years of construction. Now that the construction mess and hassle are over, those prices are expected to rise even higher and faster. Homeowners who stayed for the long-haul are reaping the rewards of higher property values, with individuals and businesses in the rental market in these areas likewise reaping major rewards as communities are irrevocably transformed.

What Should Sellers Expect In These Areas?
The effect of public transit on housing prices varies dramatically by region, with the cost of single-family homes in California cities and other large metros like Chicago, St. Louis, and Portland rising 2-32%, and condos an additional 2-18%, according to 2008 statistics. Renters experience a much wider range of adjustment, from nothing to a 45% premium, offering amazing opportunities for those purchasing to cater to the renter genre.

Ready for success to arrive? Stay on top of the latest real estate trends, and with the help of Properties Online, you’ll be well on your way! Discover how we can get you there today.

Efficient Technology Makes Efficient Sales, Which Makes Happy Agents

Drone Photography Has Permanently Changed Real Estate Marketing

Is that drone next door being operated by a bored teen, or is the neighbor’s home about to be put on the market? Taking video usage in real estate marketing to a new level, drones are rapidly reshaping the real estate industry, offering a cool and unique marketing avenue that industry leaders are cashing-in on.

Why are Drones so Appealing to Real Estate Pros?

Drones streamline the buying and selling process
When combined with video usage in real estate marketing, they offer more visual information at a reasonable cost.

Drones offer shoppers an interesting new perspective
That quickly gains people’s attention, getting them to spend more time looking at a property.

Drones give shoppers a better idea of the ‘feel’ of a property
Without the need for a time-consuming showing, creating a welcoming snapshot of each home’s offerings: Drive through the town or neighborhood, drive up the driveway arriving ‘home,’ and culminate in all-around views. Pull buyers into ‘the lifestyle,’ to appeal to the emotional side of the buying process.

Drones create buzz
New and trendy listings with drone photography can quickly raise an agent’s profile via ‘likes’ and ‘shares,’ helping them stand out from the competition.

Drones save money
Particularly on previously pricey aerial photography that once necessitated photography sessions via airplane or helicopter. (Large, expansive homes, properties with acreage or views, farmland, commercial tracts, etc.)

Drones are becoming increasingly more affordable
Opening up marketing opportunities not only for pricier homes, but more affordable options as the technology continues to drop in price.

Interested in Jumping Aboard the Drone Bandwagon?
Check out the NAR’s drone FAQs, specifically designed to help you incorporate drones as part of your listing strategies.

Tired of us ‘droning on?’ Discover for yourself how drones can help you realize the full potential of video usage in real estate marketing. Rise above the competition with the help of Properties Online today.

Let Property Movies Deliver Customers to You Like That Drone.

Real Estate Videos are Morphing into “Movies” in the Luxury Marketplace

Video usage in real estate marketing is already evolving. Going beyond drone shots, agents with luxury listings are now experimenting with cinema-like property movies. These short films feature actors, music scores, story arcs and Hollywood-quality cinematography, cashing-in on online video platforms that are rapidly becoming a key component of successful property sales.

Old-School Walking Tours are Obsolete
People are more easily attached to a story, following it through to the ending – even with performances more Razzie than Oscar. The best movies showcase properties in a way that helps buyers see themselves there.

Over-the-Top – or– Out-of-this-World Publicity?
In some cases, homes cost more than making a movie, and sellers are looking for a little red carpet marketing treatment. How is video usage in real estate marketing playing out for this luxury fare? Movie-like examples include:

• A 14,230-square-foot Bel-Air home that sold for $39 million, marketed with a video featuring 2 kids who take a note from Ferris Bueller, playing hooky to splash in the home’s infinity pool, whack golf balls over the L.A. skyline from their yard, try on outfits in large walk-in closets, and have a puppy delivered by drone.

• Another home, a 5,500-square foot 5-bedroom Hollywood estate listed for $3.65 million, featured a fictional narrative of a couple passionately arguing their way through the sleek, contemporary estate, revealing high-ceilings, high-tech security, and marble fireplaces. The wife chucks her diamond ring in the pool, and the husband is kicked-out, showcasing the neighborhood.

Funding Production
Movie-style marketing videos can cost anywhere from $5,000-$30,000 plus – but they’re not only for extravagant fare. Consider another take: A lower-budget trailer for a 3,008-square-foot-home featuring little girls at a sleepover, traversing the home and ending with a late-night living room dance-romp to Taylor Swift.

Ready to add a little more sparkle with video usage in real estate marketing? We’ve got many ideas. Learn how PropertiesOnline can help you boost your business today.