Market News 11-5-21
Today’s Market News:
Is Your Personal Safety at Risk During Work Hours?
A recent report from The National Association of Realtors® shows an alarming trend. Crimes against real estate professionals have risen 300% since 2006, and 14% of REALTORS® have feared for their safety while working. Here are four areas where danger may be lurking and tips to protect yourself from harm:1
- Your car
Park in well-lit areas and keep your car doors locked. Put away your phone as you leave a property; awareness of your surroundings is key in protecting yourself as you walk to your vehicle.
- The office
Besides locks, your phone can be one of the most effective safety tools. Keep it charged and within reaching distance while you’re at your office, especially if you’re working alone late at night.
- On property
Meet first-time clients at your office or a public place before showing them a property. Leave your exits open by parking on the street and avoiding spaces with only one way in and out, like basements.
- Open house
Take note of potential buyers who have attended multiple open houses without making an offer. Check-in with a colleague or family member regularly and keep them on the phone as you check the house for stragglers at the end of an event.
Some Housing Markets at Risk for High Foreclosure Rates
The overall housing market may be red-hot, but some areas are feeling the effects of the ongoing pandemic. A recent study showed that housing markets in 50 counties across the U.S. are highly vulnerable to pandemic fall-out.
Each county was scored according to its housing affordability, underwater mortgages, and the number of possible foreclosures. While the bulk of the counties were scattered along the East Coast, 26 were concentrated in New Jersey, Illinois, and Delaware.
While this doesn’t mean any of these counties will see an immediate jump in foreclosures, agents in these areas should keep a watchful eye on critical markets over the next few months.2
Use Video to Get More Eyes on Your Listings
Two types of videos are most effective for boosting real estate sales: open house videos and listings videos. Why? Because both show buyers exactly what’s available, ideally in less than two minutes.
While a video should include basic information like the property’s price, size, and age, you can also use it to highlight the property’s unique features or give viewers a feel for the neighborhood. And you don’t have to hire a professional videographer; even a video shot on your phone can improve your listing’s reach.3
First-Generation Homebuyers Look to Family for Support
Family support is key for first-generation homebuyers, according to a new report from Bank of America. The report revealed that the families of first-generation homebuyers see ownership as a way to build generational wealth.
While 37% of the families provided financial support, many first-gen homebuyers reported their families’ emotional support and encouragement was a bigger factor in deciding to buy.4
5 Tips to Boost Your Online Presence
Search engines are the first place prospective clients go when looking for a new agent. Make it easier for them to find you with these five tips:5
- Post relevant content
Add real-estate-related content to your social media pages, websites, and blogs for better Google-ability.
- Embrace new platforms
Create a profile on user-friendly sites like Zillow, Realtor.com, and HomeLight.
- Start small
Don’t feel like you must be on every social media platform. Pick one or two to grow your following.
- Calendar your content
Regularly posting valuable information is the best way to get seen. Use online tools and templates to create posts that followers won’t just scroll past.
- Work the online room
Avoid the “post and run” by responding to comments and remaining active across all your platforms.