A great article for all of my friends in real estate. If you are serious about growing your business in 2013 this is a great quick read! 2013 is already proving to be a phenomenal year! Are your prepared?
1. Realize Demand for Homes Will Continue to Surge.
A recent survey showed that 7 out of 10 potential purchasers believe that home prices will increase over the next 12 months. The Mortgage Bankers Association recently projected that mortgage rates will inch up to 4.4% by the end of the year. This has created a sense of urgency in buyers that has been missing for the last several years.
For more on the recovery, read our recent blog on the subject:
Housing: Year End Reports Reveal Market Coming Back
2. Build a SALABLE Listing Inventory.
We don’t want to sound like a broken record. However, we must say it again – LISTING INVENTORY WILL BE CRUCIAL TO YOUR SUCCESS IN 2013! As we mentioned above, demand will continue to surge. Make sure your ‘real estate store’ is stocked with inventory.
3. Be Prepared for EVERY Meeting. It Matters.
Be prepared for every appointment you go on (listing, buyer, price correction and negotiation of offer). You can build trust with the consumer much faster if they see you are prepared and know your stuff.
Here is an email we just received from Stacy Butewicz of NJ that talks to this point:
I recently went on an appointment to see a couple who had bought their home in 2009 for $342,000. Our comps were good for about $325,000… I was able to show her graphs which explained her very issue. I told her I understood her concern and that we were just being truthful…That is when the owner looked at me and said “we trust you, you’re an honest person”. There was no better feeling than that.
Thank you for helping me educate my sellers with the comprehensive data updates each month. There is no more simple, efficient way to do a listing presentation than to print out the KCM slides. As a 21 year old agent in her first full year of real estate I began feeling lost – but the day I saw what KCM could do for me, I had a whole new advantage to my career.
4. Anomalies Correct Themselves Over Time. Know Which Will Correct in 2013
The number of young adults (18-34 year olds) living at home has increased by almost two million over the last ten years. Data is now showing that these young adults are moving out and forming their own households in record numbers. Be ready to assist these Generation X & Y Buyers in their home search.
The Move-Up Buyer has been almost non-existent for years. Negative equity and negative feelings about the economy caused many to sit tight. With prices rising and consumer confidence improving, these sellers will finally re-enter the market. A recent report revealed that over 75% of buyers (who are not first time buyers) will be move-up buyers.
If you want help preparing for these two segments of the market, watch the free replay of our recent webinar, KCM’s 5 Steps to Success in 2013.
5. Build a Brand as an Expert in Real Estate.
Real estate professionals are being challenged by a New Market Reality. Today’s consumer is looking for the professional who truly understands what is happening and why it is happening. They want to deal with someone they can trust to explain the opportunities and challenges that exist in today’s market whether they are buying or selling. Being seen as a true expert is the brand that will bring ultimate success in today’s ever changing real estate market.
Ashley Garner, a KCM Member in Wilmington, NC has already accomplished this in his market. Here is a behind-the-scenes video of his segment, ‘ASK the EXPERT’, on a local television news station.
Here is Ashley’s email to us explaining how he got the spot on TV:
Wanted to share this video with you. I am now on a local news program every week as the expert in an “Ask the Expert” segment about real estate. Been doing it about two months now. Next week we are starting to film a before, during and after segment following a renovation project to a home – Showing homeowners how they can add value and function to a home, much like the shows on HGTV and Bravo! Very cool!!
Also, I have my first speaking engagement at a Kiwanis Club lunch meeting coming up later this month. Excited! Speaking engagements are part of my business plan this year. The news, media and speaking engagements are wonderful marketing/prospecting tools for me…and they are free. 🙂
I rely heavily on the info and graphics that Keeping Current Matters provides to me as a KCM member.
Keep up the good work. You help make me the “expert”!
If you want to find out how KCM can help make you the real estate expert in your market, check us out here.