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
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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
A Quick Explanation of the Clear Cooperation Policy
If you've been paying attention to recent industry news then you'll be familiar with the latest kerfuffle in the real estate world: Clear Cooperation. In 2020 the National Association of Realtors® (NAR) adopted a national policy known as Clear Cooperation. On its surface, it was a response to further answer the call for fair housing. But it also came with a number of strings attached, most notably the mandate to put all new listings on the MLS or face stiff fines and penalties. Now that NAR has inextricably landed in the high beams of the DOJ, it's not surprising that the policy of Clear Cooperation has come under its scrutiny. And more notable still is the amount of disagreement--both for and against the policy--among industry professionals. So if you're scratching your head and wondering … [Read more...] about A Quick Explanation of the Clear Cooperation Policy
How to Prep your Home for Fall
It's that time of the year again when homeowners get ready for colder months ahead. Here's how to prep your home for fall: … [Read more...] about How to Prep your Home for Fall
How to Make the Most of the New Rules on Your Next Open House
The new commission rules as per the NAR Settlement in mid August are now in full force. It's impressive to see how most agents are nimbly navigating and evolving to meet the new requirements and do business as usual. Now more than ever it's important to develop a mindset that embraces - and makes the most of - the still-new commission rules. One effective way to do this is to double-down on your next Open House. The Open House marketplace can create opportunities to bring in more qualified buyers. Although the new commission rules add the burden of ever-increasing paperwork, it's possible to turn those lemons into lemonade. Here's how to make the most of the new rules on your next Open House: … [Read more...] about How to Make the Most of the New Rules on Your Next Open House