November 18, 2021 | Market Update

Market News 11-19-21

Today’s Market News:

Generate More Listings in 2022

Growing your real estate business is easier when you focus on listings, not buyers. Here are four strategies to grab more listings in the coming year:1

  • Cultivate your list
    Fill your database with homeowners in your network and service area. Include the names of friends, family members, past buyers, and people who have listed with you in the past.
  • Stay top of mind
    Send a monthly real estate newsletter full of entertaining or educational content to your list. An email template makes it easy to pop in stories and articles your audience would like to read.
  • Utilize tech tools
    Give homeowners insights about the value of their home using advanced analytics and online evaluation tools. One example: Homebot, which shows a home’s valuation, amount of equity, and refinancing options. It can even be branded with your business details.
  • Place the call
    Email is great — but it doesn’t have the same personal feel as a phone call. Schedule check-in phone calls to homeowners in your database every three to six months.

Markets Across the Country Share Similar Challenges

Housing markets across the country report common trends, according to a new survey from HousingWire. Among the ongoing challenges: Rising prices and a shortage of listings. But although most regions still favor sellers, some areas are seeing a shift.

The survey revealed that Boston listings get two or three offers instead of 15-20, while a late 2020 exodus from the San Francisco area led to a slight drop in housing demand.2

Boost Your Year-End Income

Remember those income goals you set at the beginning of the year? It’s time to dust them off and make sure you’re still on track. Finish your year strong and get closer to your income goals with these three ideas:3

  • Add value
    Connect with people in your network by mailing a personal note or commenting on their social media posts. Congratulate past and present clients on major milestones, such as a promotion at work or the addition of a new family member. Share resources individuals might find useful by emailing them a link or posting on your company’s social media.
  • Delegate
    Can’t seem to find enough time to get everything done? Consider hiring part-time help. An admin could help manage your database, prepare mailings, write social media posts, and even call your clients about upcoming events.
  • Make time for what’s important
    It’s easy to neglect what’s important for what’s urgent. Block out at least an hour each day to focus on income-producing activities that push your business forward.

The Latest Trend in Real Estate Marketing: TikTok

TikTok isn’t just for Generation Z. Nearly 43% of the app’s users are age 30 and older — a group that’s frequently looking to buy their first home.

Innovative real estate agents are using TikTok to feature listing highlights, share quick tips for homebuyers and owners, and drive potential customers to their website. They’re even creating paid ads to get in front of more users on the platform.4

Harnessing the Power of Free Press

Free exposure for your business is fantastic — if you can get it. Get your name in the press and position yourself as a real estate expert with these tips:5

  • Give a quote
    Help A Reporter Out (HARO) is an online service connecting industry leaders with reporters looking for story quotes. Sign-up is free, and you can receive daily or weekly notifications for quote requests from national and local publications.
  • Carve out your niche
    They say, “the riches are in the niches,” and that’s true when it comes to free press. Reporters will seek you out when they’re covering a specific topic or sector. For example, your niche could be in property staging, house flipping, real estate investing, or commercial property management.
  • Pitch an idea
    See your name in lights — or at least a byline — by pitching an idea for an article to a magazine, newspaper, or online publication. You’ll be responsible for writing the piece, which you can do yourself, or hire someone to write it for you. After publication, you can post a link on your website, share it on social media, or even distribute it to other media outlets for broader reach.

Sources: 1inman.com, 2housingwire.com, 3rismedia.com, 4realtybiznews.com, 5theclose.com