One of the things that we're seeing across the country, at every level is that buyers are climbing the pricing ladder and purchasing more expensive homes.
A couple of reasons. First lower price categories have sold out in a lot of markets so they're forced to go up to the next price bracket. But another reason is interest rates. As interest rates decline it allows buyer to move up into price brackets they haven't been able to before without having as big as an impact on their house payment as in years past.
Interestingly what's happening now is that we are starting to see this really impact the luxury. This is an incredible opportunity! Now is a great time to dive into expired luxury listings that have been off the market for an extended period of time and start making contact. We call these legacy expired listings.
To get started do some deep research in your MLS. Go back two, three, or even four years on expired luxury listings. Can't find a phone...
The market is changing, we are starting to see double-digit appreciation returning to the marketplace. Unfortunately this can cause some sellers to get ahead of the market and demand prices that are unreasonable. In short some sellers are getting greedy.
As a real estate professional one of our most important jobs is to be be an educator. Try using the "Four Sales" - Script to help educate your sellers:
"We have to sell this home to four different people. We have to sell it to the real estate community, to motivate them to show the home. Then we have to sell it to the buyer. Then we have to sell it to the appraiser and finally we have to sell it to the underwriter for the bank. All of these people will measure your home-based other homes they have seen in the marketplace. Even if one of them agrees to pay over market – it’s unlikely the other three will also agree."
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During this episode of the podcast I interviewed Erin Bradley. Erin is a speaker and trainer, bestselling author, and host of the real estate podcast Pursuing Freedom.
Erin learned the hard way just how difficult entrepreneurship and success in sales can be. From flat broke to 6 figures, and then to burnout, Erin has been through it all, and quickly discovered that the stress of overwhelm is no less painful than the financial stress of failure. After redesigning her business to support her dream life, she’s been on a mission to teach her fellow real estate professionals to do the same.
During the program we dive deep on these core topics:
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What if I told you that there's a new opportunity in the market and no one's looking at? It's what I call a New Delta. A Delta is a point between two markets statistics which creates a gap, and that gap is opportunity.
Some sellers are still hesitating on moving forward with the selling process in large part due to two key reasons. Safety and they don't know where they're going to move next.
When COVID started back in March most of us were on top of it. We had the health questionnaire and protocols in place for buyers and sellers. We were really clear with buyers and sellers about how we were keeping them safe. But as time has passed and the real estate market has ramped up the message has faded. We don't see as many agents having those conversations and especially not having conversations in their marketing.
Now is the time to dive back and start talking about safety and protocols. Keep marketing around safety in your social media, in your flyers, in your campaigns, and on your website. Lay it out for your buyers and sellers. Show potential sellers with photos and video that what you are doing to keep them safe during showing. Show yourself with opening doors, widows,...
53% of all real estate sales are now being done with a Millennial. Yes, the millennial generation is actually a bigger generation, a more powerful generation, than the Baby Boomer Generation. Millennials are buying and selling homes. Because of this we have to shift our attention and ask ourselves:
"How can I market myself to this huge demographic, this massive group of people?"
The answer? By becoming a better marketer and really focusing in on what is it going to take to attract and keep millennial clients engaged.
Here are 5 Ways to Engage with the Millennial Audience:
1) Use Social Media. Obviously social media is where millennials spend most of their time. To connect we need to be posting 5 to 10 times a week on social media on places like Facebook, Instagram, LinkedIn, Pinterest, Twitter, TikTok, and Snapchat. Yes, there are a lot of different platforms out there. Pick the ones that you're going to use and then stretch and keep stretching...
During this Podcast we have Matt Johnson author of the new book - MicroFamous: Become Famously Influential to the Right People. Matt is a real estate industry veteran who has worked with some of the most influential industry leaders in the real estate business. He is also the co-host of the wildly popular Real Estate Uncensored podcast.
During this episode we dive into some of the concepts and strategies for creating influence within your core audience group.
As Matt points out "Right now, there is a group of people running a simple, profitable business without being glued to their phones, their social media, or their marketing strategies. What’s their secret? They have become famously influential to the right people. And so can you!"
During this episode we dive deep into tactical real world strategies for creating powerful, meaningful connections with your database and the POWER Centers in your community.
In a world of influencers and social media...
What is a Legacy FSBO?
This is someone that put their house on the market but then they got cold feet, or they got tired, or maybe frustrated so they removed their yard sign and threw in the towel.....but they forgot to remove their listing from all the places they may listed their home, places like FSBO.com, and others. (Google FSBO's in your city for a complete list of sites that may contain Legacy FSBO's)
This provides you with a unique opportunity to reach out to these potential sellers. For instance you might say something simple like:
"Hey, I just was doing some deep research in your neighborhood this morning and I noticed you had your home on the market last June. Just a quick question, would you still consider selling to a cash buyer? Would you still consider selling for the right price? Would you still consider selling to a qualified buyer? Because I've got a really strong group of buyers that are out in the marketplace looking right now. If you've ever considered, still...
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