Think back to the days before you joined the real estate industry. Do You Really Understand How The Housing Market Works?
Thank you for reading this post, don't forget to subscribe!Sure, there are economic geniuses among us, but many, many agent careers come from far away. It’s safe to say that teachers turned real estate agents didn’t have the time or energy to focus on the real estate market.
Congratulations! You have put yourself in the shoes of the typical homebuyer and seller.
Imagine how they’re feeling right now, and you can understand why “housing market bubble” has been a highly searched term on Google.com in recent months.
This is despite agents across the country doing their best to tell people that the odds that we’re facing another real estate bubble are slim.
If you have clients who have decided to watch the market rather than rush into it to sell their homes, you’ll need some convincing.
As we all know, the time to jump into the market is now if they expect to sell at a reasonable price.
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if I were you
Not me. But if I were you, I’d send a postcard to every potential home seller in my CRM.
It would be simple but effective.
Perhaps a pretty real estate-ish graphic on the front of the card, something like this:
“House prices continue to climb”
Under that heading, I’ll put this recent quote from Devon Thorsby at US News & World Report:
“Home prices are down month-over-month but still up year-over-year.”
To make additional salient points, space permitting, of course, this includes:
- Ignore the month-to-month figures. As Thoresby puts it, “… month-to-month data is more volatile and does not in itself indicate a drastic change in the market.”
- Home price growth is slowing, but this is a sign of current economic conditions (high mortgage rates, inflation, etc.), not a housing bubble.
- The national median home sales price in November was “… 3.5% higher than the same month a year ago. This marked the “… 129th consecutive month of year-over-year increases in median home prices, year-over-year -year longest running streak of rising prices, per NAR data.” according to Thorsby.
- In the end, Realtor.com economists claim the nationwide list price was $416,000. This represents an increase of 11% compared to the same month last year.
Express the urgency of listing sooner rather than later. Some economists expect price increases to continue, so getting a home on the market now gives your clients the advantage of getting as much money as possible for the foreseeable future.
And this good news comes just in time for these guys to take advantage of the spring market.
Get in touch if you need help with your postcard campaign. We are happy to help.
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