As we trudge along the first few weeks of 2017, any serious real estate professional should now be going full speed ahead towards the goals they have set for their respective teams at the end of last year. With this in mind, agents should be strictly monitoring their numbers to make sure they do not lose steam mid-year and end up short of their intended goals. This may sound like a cliché, but in the business of buying and selling homes, nothing is more true than this saying: knowledge is power. Knowing this year’s real estate trends will give you an edge in your leads prospecting efforts and help you achieve the goals you have set for your team.
Here are 5 trends in real estate that you should consider aligning your business efforts towards.
Home Values Gradually Tapering Off
Although home prices are still on the rise, the appreciation in home values will slow down this year as the housing market continues to normalize. When you are prospecting for sellers, letting them know this piece of information should give them the sense of urgency to act now. For those talking to FSBO’s, if their main goal is to net the most amount of money in their pocket, let them know that it may to their best interest to hire an experienced real estate agent who has access to more motivated buyers and get their homes sold for top dollar especially since home values won’t get any better.
Higher Mortgage Rates
Just as the appreciation of home values slow down due to the market normalizing, an increase in mortgage rates is also expected. This is another piece of crucial information that agents should put forward when they prospect for real estate leads. There is no better time to buy a home than right now as mortgage rates will increase as the year progresses.
Lots of Millennial Buyers
By now, a significant number of millennials will be on their mid-30’s and may be considering to buy a home. This is especially true for those who are now thinking of settling down and having children. Focusing your prospecting efforts on this age group will be an advantage as many of them may be first time home-buyers and will need the help of a real estate professional to help them find a home for their growing families. As far as communications go, incorporating text messaging and social media into your real estate leads prospecting efforts will be an advantage since these modes of communication greatly resonate with this generation. Especially if you are using a CRM with these features built in like Commissions Inc., you should utilize these functions as they will greatly bolster your prospecting.
Baby Boomers in the Market
At the opposite end of the spectrum, we will also see a lot of people in their sixties and beyond in the market. Many baby boomers are now considering retirement, have no more children around, and are thinking about downsizing to cut down on costs. On the flip side, others might be thinking of getting a bigger home to accommodate their grandchildren especially when they come to visit. Also, unlike millennials, many in this age bracket may also have a property they first need to sell before buying a home to fit their needs. This set of real estate leads is certainly a gold mine, and aligning your prospecting efforts towards this age group is an advantage.
Technology in Real Estate Marketing
It wasn’t very long ago when drones were stuff of movies like in The Terminator or The Matrix. Today, we see them not shooting down fellow human beings with searing laser beams or crushing flesh and bones with cold, steel tentacles but rather buzzing in the air taking amazing aerial photography shots of a property for sale! Yes, the use of drones and other pieces of technology find more use in real estate marketing today, especially if your target market are the younger generations like the millennials of generation-y or to prepare yourself for the upcoming generation-z (still in their late teens now, but are on their way to finding work soon).
Knowing these trends and incorporating this knowledge into your business strategy will help you and your real estate team stay competitive and reach your goals by the end of the year. Need more tips to bolster your real estate leads prospecting? Visit www.RealEstateLeadsProspector.com for more information.