Hey guys, some new interesting information from NAR regarding how far people move when they buy a new home.
For decades, the number was about 10 to 15 miles from where they were moving to where they were going to.
Now that shot up dramatically last year to 50 miles—an unheard of number. And where are people heading?
1. Small towns: up 9% from last year.
2. Rural areas: up 7% from last year.
So people are wanting to exit urban areas, kind of that urban exodus we've talked about for a long time. And why are they doing it? Well, they have remote working, they have a remote school, and they want to get out of the urban jungle. And affordability is a big issue. They can buy a much bigger house, much nicer house by going out to these rural and small town areas.
So what about your market? Are you starting to see this in your market?
Maybe you're on the flip side where you live in a rural market like I do and you're benefiting from people coming to you. And on the other side, maybe...
What are the digital tools that buyers and sellers want us to deliver to them?
There is a new study that's recently come out that shares exactly what buyers and sellers would like us to use when we're working with them.
1. 3D Virtual Tour
Kind of like a Matterport tour. Another one that goes along with this is a digital floor plan. Now that might be a Matterport situation again where people can see the entire floor plan of the house. Sometimes we have that for new construction. Other times we might have to build that.
2. Email Notifications
Most of us have email available through our franchise groups or even through our offices where we can send automated emails to clients based on their needs that match the MLS database.
3. Video tours
Video tours with their agent (aka you!) offering to walk somebody through a house, maybe on FaceTime while they're not even physically present.
4. The ability to unlock a home and not even have the agent (aka...
What do you say to a buyer who thinks we're in a housing bubble?
The response to this is really important and you might want to speak about this just on social media. It's a great social media post to talk about because it's on people's minds. They're a little bit fearful of going into the market and paying too much, getting trapped, or thinking it's like 2009 again.
So here's your response (and it could be a video response or post response) where you say:
"Hey, several buyers have asked me recently, is this a good time to buy? Or should they wait until prices fall? What they're really asking me is, are we in a housing bubble? Right? And the answer is no.
In fact, we have several solid economic indicators that show us that we're not even close to a bubble. And we're actually in an incredibly healthy real estate market and home prices are likely to rise going forward for the next several months.
Here's a couple of reasons why:
1. The number of homes...
One thing we're all challenged with right now is the speed of the market — or how fast listings sell as soon as they hit the market.
When you listed a house in a traditional market, you would have 90 or 180 days of market time. During that market time you'd able to be able to put out just listed cards, call and farm neighborhoods, host multiple open houses, and receive sign calls from your marketing. And with all that marketing, you would be able to convert those interested people into more buyers and sellers.
So every listing could easily lead to five or six more opportunities for more buyers and sellers.
But today things have changed. Every time you put a house in the market, it's generally selling within a few days with multiple offers. So you're getting robbed of that extra marketing opportunity.
But you can change that by using what I call a Marketing Sequence.
A marketing sequence simply means that you have a strategy about how you...
Does your sphere of influence think that home ownership is a good investment and how do their feelings match up with the rest of America?
Today 65% of Americans believe home ownership is a good investment up from just 55.7% in 2014 - but that may or may not be true in your own market.
To engage your social media audience and have some fun why not ask them the same question with a quick and easy poll on Facebook or Instagram. You can then follow up with ideas on how to become a homeowner or even how to buy rental properties.
Here is an example of a simple post my company did last week:
Another interesting trend is that more Americans are moving back to the suburbs especially young millennials. If you serve a smaller suburban area (or really any area) try using a Love Letter to Your Market.
To see an example check out how this quick video example:
Do you need more leads, more listings, more buyers, and more closings? ...
Does the trade war impact real estate sales?
Yes, it does. Regardless of where you fall politically on the subject of our current trade war as a real estate professional it's important to understand and be able to explain how the trade war directly impacts residential real estate sales to our clients. The good news is that there is good news.
Watch this quick coaching video as Jim provides the explanation as well as scripts to use in the field with your buyer and seller clients.
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Jim Remley is a nationally recognized expert in the field of residential real estate. Entering the real estate industry at the age of 19 he began an unlikely...