Last week, the National Association of Realtors® released its annual survey of home buyers and sellers (5,800 consumers participated). Here’s how you can leverage the results to grow your business in 2020.
A majority still prefer to use agents-89% used an agent to purchase a home in 2019, and most found their agent through a referral from a family member or friend:
-Be sure to ask for referrals throughout the process
-Include a referral ask in your follow up survey and email drip campaigns
-Remind friends, family, vendors, that you rely on referrals to grow your business
Single female buyers make up 18% of market, and the average First Time Buyer is older (33 yo):
-Make sure your marketing materials aren’t geared primarily towards couples
-Network at young professional groups, online business forums, gyms or yoga studios
-Offer First Time Home Buyer info sessions-I am happy to partner with you!
Debt is still an issue for many when it comes to saving for a down payment:
-I can help explain various down payment options (you don’t need 20%)! Please be sure to refer your clients to me.
Inventory is still an issue, despite the many compelling reasons to sell now, including:
-Houses are selling quickly, on market average is three weeks
-Median equity is $60,000
-Homes are selling for an average of 99% of the list price
I can help your sellers understand the value of their current home, and get them pre-approved for their new home search.
You and your clients can contact me at any time. I am happy to answer questions, explain down payment options, and issue pre-approvals.