October 14, 2021 | Market Update

Market News 10-15-21

Aluminum Prices are Skyrocketing

The construction industry is on alert as another commodity — aluminum — is seeing a spike in pricing. Just on the heels of lumber and steel, aluminum prices are up 47% this year, causing increased siding, gutters, insulation, nails, and HVAC equipment costs. Transportation and labor costs are rising too, causing difficulties for builders and contractors.1

Vacation Homes Gain Popularity

The demand for second homes rose by 172% during the pandemic and is likely here to stay as working remotely becomes permanent for many. And even though demand is easing as the real estate market cools, kids return to school, and cities come to life again, the sale of vacation homes made up 6.7% of all existing-home sales in the first four months of 2021, up 5% year-over-year.2

Memorable Closing Gifts for Clients

Looking for new ways to thank clients for their business? Here are three unique ideas:

  • Charity Donation
    In lieu of gifts, donate to a cause that is important to your client.
  • Jigsaw puzzle
    With the help of an online photo printing service, create a personalized jigsaw puzzle using a photo of the client’s new home or the family standing in front of the new house.
  • Landscaper or housekeeper
    Moving is a lot of work. Take some of the pressure off your client by paying for a visit by a landscaper or housekeeper.3

Take Your Productivity to the Next Level

In a market that is always hectic and unpredictable, busy real estate agents often try to do a million things at once — and end up feeling overwhelmed. Here’s how you can develop a different mindset — so you can be more productive:

  • Prioritize
    Narrow your focus away from the million things on your plate and start setting clear goals. Then, use your time for what’s most important.
  • Simplify
    Identify what is truly essential and eliminate or delegate the rest. By concentrating your energy on fewer, more critical things, you’ll get far more done in less time.
  • Measure
    People tend to overestimate how long it takes to complete a task. By tracking your activities, you can see how much time goes to what and adjust accordingly to improve productivity.
  • Coach
    Consider an accountability partner — someone to keep you on track to achieve your goals. A good coach can help you become a better time manager.4

Content Marketing for the Win

Are you using marketing content to engage prospective buyers? If not, now is the time to start. Content marketing is a valuable strategy.

Consider the benefits:

  • Strengthen relationships
    Good content leaves a lasting impression on clients. Tell them why they should be working with your business.
  • Generate organic leads
    Content marketing can help generate organic leads. And they are the best kind because you know those prospects are in the market to buy a home and ready to start the process.
  • Build trust
    Prospects need to be able to trust you. Strong content builds authority and trust. By creating clear and concise content, you’ll become the go-to source for real estate information.
  • Grow your brand
    Branding is essential to growing your real estate business. Prospects need to know who you are and what you bring to the table. Creating enjoyable and valuable content can help you grow your brand by connecting you to the right people.5

Sources: 1foxbusiness.com, 2themreport.com, 3inman.com, 4rismedia.com, 5realtybiznews.com