It's no secret that today's higher interest rates have cast a chill on real estate transactions. Roughly 84% of today's mortgaged homeowners are locked into a rate below 6% so it's no wonder they are staying put, thereby reducing inventory and transaction volume. As such, many buyers are priced out of the market, stuck on the sidelines until rates come down or inventory goes up--or both. Meanwhile, new construction currently represents one third of all single-family housing for sale, adding much needed inventory to the market. More significantly, many builders are offering buy-downs and incentives, effectively reducing interest rates to a comparative 4.5 to 5.5 percentage rate, substantially below today's average of 7 percent. This is why you want new construction in your business plan. … [Read more...] about How to Target New Construction in 2025
marketing
Quick and Easy Social Media Strategies to Live By
Ah, social media. Whether the term fills you with dread or joy, it's a critical part of marketing for any business. But as with most things, there isn't a one-size-fits all when it comes to social media marketing for real estate. Because real estate is all about building relationships through market savvy and customer service, your social media marketing needs to hit to those targets. Following are quick and easy social media strategies to live by: … [Read more...] about Quick and Easy Social Media Strategies to Live By
Handy Dandy Marketing Reminders for Realtors®
In today's market, you, like many other Realtors®, may find yourself at a loss when it comes to ways to drum up new business. At the moment, inventory is scarce, buyers are priced out, and interest rates are high. Overall, business volume is down which means your bank account probably is too. That being said, it's more important than ever to reposition yourself for the inevitable rebound that is likely to happen in 2024. Since marketing often takes months before you see results, there is no better time than now to recommit to a solid, consistent marketing plan. Following are handy-dandy marketing reminders for Realtors® that will help get you on the right track: … [Read more...] about Handy Dandy Marketing Reminders for Realtors®
How to Use ChatGPT for Real Estate Leads
Chances are you’ve heard of AI, and specifically, of ChatGPT. What you may not know is how ChatGPT can fundamentally change how you gather leads for your real estate business. Today’s real estate climate makes lead generation more important than ever. The ability to get new business will literally keep you in business. So put aside any fear you may have of AI and jump in. Here’s how to use ChatGPT for real estate leads: … [Read more...] about How to Use ChatGPT for Real Estate Leads
Smart Ways to Market Your Real Estate Business
As a real estate professional working strictly on commission, you are a small business. Which means you are in charge of your paycheck and no one else. As such, you are probably more aware than ever of the need to market your business for maximum visibility to potential clients. Following are smart ways to market your real estate business. … [Read more...] about Smart Ways to Market Your Real Estate Business