Evolving Market calls for Adaptive Strategies

Bill Allen, Broker Associate November 10, 2015 : Bill's Blog

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PlanetRE

 

Interesting article about how Realtors should adapt to the changing market.

This is your customer. Watch them closely.

Are you prepared to deal with them?

  • Gen Y will comprise your largest share of homebuyers
  • Gen Y first time buyers will reach 68% coming year (*).
  • Gen Y will rely heavily on property searching based on commute time before they settle on their final nest
  • Gen Y grew up with Internet and you need to reach out and market them using channels like texting, Facebook®, Twitter® etc. – media they like and not your choice
  • If you are Capturing Likes and not incubating Gen Y leads with Facebook campaigns, you could lose them.
  • If you have a lead from Twitter and you send them email drip campaigns, you can lose them. Use the channel they like and not yours
  • Your Facebook Business Page should be vibrant with MLS property search, community portal apps built with results shown on native Facebook and not redirect them to your website. Don’t change the media they like
  • Gen Ys are masters of multi-tasking. Your CRM should have built in chat room with concurrent phone texting, Google® hangouts to talk to multiple Gen Ys at same time and log all conversations
  • If you are just marketing without context of property you are wasting their time. So get rid of pure contact tools.
  • Gen Y is also the “Uber” generation – meaning your lead responsiveness as an agent or a team has to be in seconds and not minutes. If you don’t have the tools to do lead management in seconds ….they are gone!
  • You need to differentiate and excel and not be invisible and blend
  • Don’t fragment your leads in many databases. Unify them
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Apartments are the New Hot Commodity

Bill Allen, Broker Associate November 10, 2015 : Bill's Blog, Uncategorized

With the real Estate Market back in good health (http://ow.ly/UtHKx) apartments are a hot commodity “The strong apartment industry run-up shows no signs of ebbing any time soon,” says Mark Obrinsky, NMHC’s SVP of Research and Chief Economist. “Markets remain pretty tight, even as new apartment construction continues to increase. Find the full article here!

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Condos are Appreciating faster than single Family Homes!

Bill Allen, Broker Associate November 10, 2015 : Bill's Blog, Uncategorized

According to Zillow, condos are appreciating faster than single family homes! In Denver – one of the country’s fastest-growing housing markets – condo values are growing in value at an annual rate of just over 20 percent, while single-family home values are rising at 15 percent.”

“The housing bust hit condo values hard, and over the past few years, buying a condo wasn’t always considered a good investment compared to a single family home,” says Zillow Chief Economist Dr. Svenja Gudell. “But that’s changing, and condos increasingly represent a strong-performing, often affordable choice, particularly for first-time buyers interested both in homeownership and in keeping a lower-maintenance, city lifestyle. However, as younger buyers compete for homes in urban neighborhoods, it’s important to consider some of the additional costs of condo life, especially homeowner association fees, when weighing options.”

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55+ demographic helping the Market

Bill Allen, Broker Associate November 10, 2015 : Bill's Blog

The Housing Market Index (HMI) for the 55+ demographic in the last quarter is up three points and is steady and strong. This is true for single family and multi family homes and rental properties. With Builders reporting “above average” conditions, this rating is likely going to increase in the foreseeable future. What does this mean? This means get your hands on some real estate and watch it appreciate!

 

Check out the this link for the full article.

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Slow and Steady

Bill Allen, Broker Associate November 6, 2015 : Bill's Blog

The economic and housing recovery continues at a slow, but steady pace, rising t .93 in the third quarter of 2015. A level of 1.0 indicated the country has reached the last level of normality. However, a rating of 1.0 is rarely reached.

 

Follow this link for capturing statistics and see where your state falls. http://eyeonhousing.org/2015/11/index-shows-a-slow-and-steady-recovery-for-the-us/

LMI map.2015_09.blog

 

 

 

 

 

 

 

 

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Millennials in the Market

Bill Allen, Broker Associate November 5, 2015 : Bill's Blog

Nearly 83.1 million strong, millennials are looking for instant access to current real estate market information. All desire to be homeowners, despite set backs from tuition debt, marriage, and other economic challenges. Check out this link for more info and interesting schematics.

 

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The Secret to Networking

Bill Allen, Broker Associate October 29, 2015 : Bill's Blog

Many people believe networking is all about showing up and showing off at events. These people are not making the most of the opportunity, while possibly coming off arrogant and prude. The secret to networking, according to several networking gurus,  is to build and leverage mutually beneficial relationships.

 

Some important steps to take when beginning to network include doing preliminary research about who will be at the event and who you specifically want to talk with. During the event, it is more helpful to collect business cards than to give them out. When engaging in a conversation, forget the elevator pitch and find commonality. This will better help you connect with people, showing them how you can relate to one another and building trust. Another observation made at networking events is that everyone is trying to promote themselves. Stand out of the crowd by helping others. This good karma will not let you down. It is also a good idea to network with all kinds of people, not just your favorites. See how you can help them and the return will be worthwhile.

Of course, never talk negative about yourself. Keep the mood light and positive. These good vibes will stick with people and they will associate you with their positive experience, thus potentially gaining you more business!

 

 

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