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Posts Tagged Buyer

Real Estate Rates the Market – What Does This Mean to Buyers and Sellers?

by Rebecca Chandler

English: Symbol "thumbs up", great

In April 2013, The Real Estate Book asked a group of real estate professionals across the U.S. about trends they see in their local markets.   Here’s some of what we heard.

While listing inventory was down, many said that sales activity and prices were up.   For sellers, this is very positive news.  For buyers, this means they should consider buying sooner versus later when prices may have climbed even more.

Real estate professionals see these trends continuing through 2013.  When rating their overall outlook for the 2013 market, on a scale of 0-5, with 5 being “excellent,” respondents presented an average of 3.65.  I’d call that a B+.  Here are some of the details of our survey.

Which of the following are the biggest challenges for your personal business today? (choose all that apply)

  • 54% – Low listing inventory
  • 37% – Lending restrictions
  • 22% – Fewer buyers

Which of the following have increased in your market in 2013? (choose all that apply)

  • 59% – Sales activity
  • 43% – Sales prices
  • 33% – First time home buyer activity
  • 29% – Activity in the upper price ranges
  • 20% – Investor activity
  • 13% – Listing inventory

How do you rate your outlook on the market in 2013?

  • 14% – Excellent
  • 50% – Good
  • 24% – Average
  • 12% – Poor
  • 0% – Very Poor

While real estate is a very locally impacted industry and all markets are unique, overall sentiment is positive.

Contact a local real estate professional in your area for local details.

 

 

Survey conducted by NewPoint Media Group in April 2013 – 123 respondents.

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Do you want buyers to stroll around the neighborhood or walk through the door?

by Rebecca Chandler

In a recent blog postJohn Packes,  described the difference between “surfing” on the web and “splashing” on mobile.  Basically, when you are on the web on your home computer, you search, visit a site, then search again, find another site – and repeat.  ”Surfing” around the web.  On a mobile site, you are more likely to go directly to the desired information and then leave.  No more searching. “Splash” in and then get out.

There’s another dynamic in relation to the way we search for real estate on the web or on a mobile device.  Let’s call it “searching” vs. “finding.”  When you are on a website,  an app, or a searchable listing site, you are, most likely, strolling through a neighborhood or city, looking at multiple homes and comparing.  However, when you see an printed ad or a sign and you text or scan a code to see a specific home, it’s like you are walking through the door of that home.

That’s a big difference when you are trying to market a listing – or win a listing through your marketing plan.  While other agents simply give a buyer directions to the town or neighborhood to find the seller’s home, you are giving them the keys to the front door and inviting them in to look around.  They are making it more difficult than necessary and you are making it as simple as possible to see the home.

To see a sample of how this works, text T312634 to 85377.  To do this, open the text feature on your phone.  In the “To” field, type in the numbers 85377.  In the message field, type in T312634.  You’ll receive a return text with a link to a sample property from The Real Estate Book’s mobile site. This is what the consumer experiences when they see this code in an ad, on a sign, or on a flyer or brochure.   As an agent, you get an immediate text notification that someone is interested in the home – and you get their phone number so you can text or call them back as a follow up.

To learn more, speak with your local Real Estate Book representative or go to http://mediakit.realestatebook.com/

Or – join us for a live webinar on Thursday, May 9th from 2 p.m. to 3 p.m. EDT.  Register here.

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The Most Crucial Mistake You Can Make When Listings Are Low

Scott Dixon, CEO, NewPoint Media Group

When listings are low, competition for listings is high. Why do some agents thrive in this environment and others see their business dwindle? Many make a crucial mistake.

They assume that since their listing inventory is low, they should reduce their advertising. After all, they have less to advertise. This is because they assume that the goal of their advertising is to reach buyers and sell their current inventory.

They forget that a major goal of their advertising is to gain and retain listings.

Referral and repeat clients cannot sustain an agent’s business. The 2011 National Association of REALTORS®(NAR) Profile of Home Buyers and Sellers study indicates that on average, 39% of seller clients were referrals, down from 41% in 2010. Repeat seller business was about 22%. That means that about 40% of sellers found their agent through advertising – and those agents who are advertising can take 40% of your business.

One of the downfalls of relying only on the web for your leads is that exposure is driven by listing content. The more listings you have on the web, the more likely a consumer is to stumble across you using search or on a listing aggregate site. For many agents, this is their total marketing plan and as their listings sell, they have fewer and fewer listings to use in their advertising and so begins a self-fulfilling prophecy.

Consider this – how are you advertising to gain listings? Here are 6 steps to shifting your advertising to help you win and keep listings.

  1. Know what kind of listings you want. In what area of town? What type of property? What’s your specialty? Focusing your efforts will help you achieve focused results. Think this through and focus.
  2. Advertise the listings you have so that they (and you) stand out. Take good photography and spread it around – on the web, in a local magazine, flyers, post cards, emails. Make your advertising an example of what you will and can do for the home seller. You are a professional home seller. Advertise it.
  3. Advertise for the type of listings you’d like to get. This is where local print can really help you stand out. Running photos of popular subdivision signs, golf courses, waterfront locations, farmland, or urban skylines will generate interest from both buyers and sellers who have property in these areas. If they perceive that you are a specialist in the type of property they have to sell, they are more likely to call you – over just about anyone else.
  4. Put your advertising plan in your listing plan. Your listing presentation is your chance to differentiate yourself from other agents. The agent who promises to advertise the seller’s home in print, on the web, direct mail, and through mobile tools like text and QR codes will win every time over the agent with a minimal advertising plan for the home. If you were selling your home, which would you prefer?
  5. Find an advertising partner that offers a comprehensive advertising package and don’t be afraid to disclose your budget. Many assume that the type of advertising described here would be incredibly expensive – and you may think it’s outside your budget. Talk to a multi-media provider like The Real Estate Book about your budget and your goals. You’ll be surprised at how affordable multi-media advertising can be. The Real Estate Book multi-media packages include an interactive local print ad, premium web exposure, single property websites, agent mobile website, text code lead generation, QR codes, and social integration – all inclusive with no additional charges – and there are packages for any budget.
  6. Gain market share – While competing agents in your market hide and wait for buyers and sellers to stumble upon them while searching online, your advertising will reach out and find sellers and buyers for you. And you can take 40% of their business – and more.
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