Realtor Sales Strategies For Rising Rates
Everyone knows rates are rising, so the best professionals are evolving to a new market. We saw the sellers market of in the summer of 2018 shift into a more neutral market in the fall of 2018. The future market with rising rates is difficult to predict. But there are some basic (and affordable) strategies any realtor can use to accommodate these market adjustments.
Provide Options to Sellers
Some markets experience massive fluctuations in value, in every market it’s important to offer variety. But some of the more successful real estate companies are offering multiple options. Things like single service listings, advanced marketing and flat service fees are becoming popular.
Educating your sellers and potential clients, this provides much more value than a sales pitch. Many homeowners do not understand the market like realtors do, and it’s your job to change that.
That means agents must “demonstrate the market by showing year-over-year and even month-over-month numbers from the multiple listing service,” O’Connor says. “They can show current listings of comparable homes online so they can see if overpriced homes are sitting, how similar homes are priced and how they compare in terms of updating, amenities, etc.”
Be Proficient in Tech
90% of real estate and lending searches are online with engines like google and bing. This means that potential clients are researching the people they do business with long before they ever make contact. That is why reviews, blogs and a good website that you can market are incredibly important. You could be missing out on potential clients without even realizing it due to a lack of this.
Location, Location, RE-Location
When certain markets experience a decline in real estate, companies will move their employees to other sectors to retain them. Often times they use a relocation company to do this. If possible, successful real estate agents have synced up with local relocation companies to get a piece of this business.
Remember Real Estate 101
As stated before, education is the most important. People that do not understand something will not buy it or use it. it’s human nature to shy away from things you do not understand, so make sure your clients understand where you are coming from and why.
I hope this has helped, if you have any questions do not hesitate to ask.