How long do people stay in their homes? It's an interesting question. And it's a question that's related to marketing for us.
Prior to 2008, the average person stayed in their home five years before they moved on. So quite a bit of turnover there.
From 2008 to 2016, that number moved up to eight years.
And now that number has gone even higher — it's now 10.6 years.
So why are people staying in their homes longer? Well, there's lots of reasons.
The Great Recession had an impact. Super low interest rates have an impact. Having less inventory in the markets for people to move up to and change homes has also made a big impact.
But one question we should know and ask our clients is how about our local market? How about with our own sphere? What does that look like for the people that you're actually doing business with?
It's a great text. It's a great social media post to ask this question:
"The average homeowner spends 10.6...
Studies show that 1 out of 20 homeowners is considering selling at any given point in time (roughly 5% of the homeowner population).
When a new listing hits the market in an area where there hasn't been a lot of listings it can spark conversations. This the often the trigger event, the catalyst, for homeowners to get serious about putting their home on the market. Which is often why when one sign goes up in area, multiple listings follow.
Take advantage of this phenomenon with a fresh approach to circle marketing. Watch and learn how using your current listings and the relationships your sellers already have with their neighbors can lead to more opportunities!
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About Jim Remley:
Jim Remley is a nationally recognized expert in the field of residential real estate....
As real estate professionals we understand that higher interest rates have a direct impact on affordability. With the FED expected to raise rates three more times between now and the end of 2019 how is this changing the conversations you are having with buyers and sellers in the market?
Watch and learn how one Seattle agent used a brilliant strategy to negotiate a successful sale for her buyer clients using interest rates as key negotiation tactic and how many agents are now talking about interest rates to secure price adjustments.
Bonus: Also watch for two lead generation strategies that can unlock more transactions - Geo Farming Using Instagram and Voice Mail Drops!
Are you ready for a real estate coach? Explore Mastery Classes that can help design the career and the life you deserve including:
About Jim Remley:
Jim Remley is a nationally recognized...
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