50 Top Metro Areas Slip Into Buyer Market Status- Is Your Market Next?
According to a recent study by Trulia.com - "Among the 100 largest U.S. metros, conditions in 50 are now shifting in favor of buyers, a ten-fold increase from just five metros a year ago. They determined this shift by examining an average of three buyer/seller balance-of-power indicators and analyzing how they’ve changed in the last year (from January 2018 to January 2019): the share of listings with at least one price cut, the monthly median days on market, and the sales-to-list price ratio (how a home’s final selling price compares to its list price). All three have shifted in favor of buyers.
This shift also shows up in other common housing metrics. Homes sitting on the market longer, for example, can also help push up monthly measures of inventory because home shoppers can count on listings remaining active for longer, giving them more options at any given time.
The shift in favor of buyers is also happening where home values have risen the most over the past six...
Steve Thomas Interview - $17 Million Closed Second Year in the Business
How does a new agent close $17 million dollars in his second year in the real estate business? During this interview with Steve Thomas we dive into how he has created such incredible results using a low tech, high impact strategy.
Watch and learn about Steve's daily schedule of making contact with his sphere of influence, how many networking meetings he conducts a week, how he creates his top 50 VIP list, and how he works with buyers to ensure they stay loyal to him throughout the transaction.
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Jim Remley is a nationally recognized expert in the field of residential real estate. Entering the real estate industry at the age of 19 he began an...
The GAP that is Killing Your Real Estate Business
The GAP is the sudden realization that your pipeline is (or is nearly) dry. You have run out of escrows, listings, and active buyers. Your fuel tank indicator is flashing red and you still have miles to go before all of your bills are covered for the next month or quarter.
Why do agents have gaps in their income?
Inconsistent lead generation is the number one reason for a gap.
Almost all agents at some point in their career stop doing what made them successful in the first place. They stop making calls, sending letters, connecting on social media, and conducting networking meetings. They stop calling their best clients, delivering gifts, and touring homes daily. They stop attending office meetings, training events, and social mixers. They stop moving forward and soon their momentum slows and then stops altogether.
The difference between good agents and great agents is what they do next. When the gap strikes agents can naturally feel panicky, emotional, angry, or...
Home Values Fall for the First Time in Seven Years - New Game Plan
Pending home sales surged in March up 3.8% (blowing past economists expectations of only .07%) but there is a catch the median US home value fell for the first time in seven years in April. Why are sales surging but prices are now falling?
The answer isn't that demand has changed. Buyers are still in the market and sales have ebbed and flowed with interest rates. What is changing are inventory levels. More inventory is piling up across the country. This means more to choose from for buyers and more pricing pressure for sellers. To attract a buyer sellers have to price their home's to compete against more and more inventory hitting the market daily.
Watch this video to explore a game plan for having three key conversations with your sellers to ensure they get their pricing right!
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Study: Based on 28 Million Sales the Best Day of the Year to List a House....
When should we list our home?
It's a question we often hear from sellers. Aside from the inevitable answer we want to give - right now - there is a new big data study from ATTOM Data Solutions that provides an actual statistical based answer.
Based on their analysis of 28 million home and condo sales over an 8 year period their study has revealed 5 key days of the year when sellers receive an average 10% premium over the market.
Watch the video for a quick script to frame this conversation with sellers.
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Jim Remley is a nationally recognized expert in the field of residential real estate. Entering the real estate industry at the age of 19 he began an unlikely rise from college...
Amenities that Help Listings Sell Faster and For More Money
As we see more listings enter the market the competition for qualified buyers is rising. How do you help your listings stand out in a crowd?
It's easy to only focus on price and terms but one area that is often missed is how you present a home to the market - in other words how you merchandise your listings. To market the home effectively you need to point out the homes best features and amenities. In a recent study conducted by Zillow they found the following:
Which listing features can help sell your home for more?
- Steam Oven (34.1%)
- Professional Appliances (32.3%)
- Wine cellar (31.4%)
- Steam Shower (30.7%)
- Pot filler (27.5%)
- Shed/Garage Studio (26.5%)
- Heated Floor (26.2%)
- Waterfall Counter-top (26%)
- Outdoor Kitchen (24.5%)
- Prep Sink (24.1%)
Which listing feature can help your home sell faster?
- Open Shelving (11.2)
- Pergola (10.7)
- Mid-Century (10.7)
- Subway Tile (10.4)
- Exposed Brick (9.5)
- Smart Lighting (8.9)
- Farmhouse Sink (8.9)
- Butcher...
New Study Open Houses Sell for $9,046 More Money!
According to a new study conducted by Redfin open houses sell for $9,046 more money and spend seven fewer days on the market than homes not held open. Why? Listing agents who host strategically timed open houses aren't just advertising their listings they are marketing their listings to the critical "backlog of buyers".
“I usually list properties on a Thursday or Friday, then hold an open house on Saturday or Sunday. I also hold private showings because it’s so important to get as many potential buyers into the home as possible,” said Jessica Johnson, an agent in Miami, Florida “Open houses can help homes sell faster. When homebuyers see other people at an open house, it can motivate them to place an offer more quickly than they otherwise would. I had two listings go under contract last week after just one weekend on the market. In both cases, the buyers first saw the home at the open house.”
In every market and price category...
The Top 3 Things a Buyer Wants From You
What do buyers want from you?
If you don't know the answer to this question - your chances of converting a buyer into a client goes down dramatically! To win the hearts and minds of buyers you must lead with your buyers needs and deliver the services they most want to receive.
According to the most recent study conducted by the National Association of REALTORS here are the top three items a buyer wants from you:
1) Helping them Find the Right Home to Purchase
2) Help Negotiating the Terms of the Sale
3) Help Negotiating the Price
Learn more by watching this quick video and start converting more buyers into loyal clients!
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Jim Remley is a...
NAR 2019 Study: Why do homeowners sell their home ?
Why do most homeowners sell their home?
It's interesting that most real estate professionals can't answer this question. But consider it's impact on your marketing strategy. If you know the motivations behind why a homeowners may need or desire a housing change it can dramatically impact your marketing plan and listing presentation.
The good news is that the National Association of REALTORS has provided an updated study of seller motivation. The study reveals the following reasons why homeowners consider selling. Here are the top five reasons listed:
- Home is to Small (15%)
- Move Closer to Family and Friends? (14%)
- Job Relocation (13%)
- Neighborhood Less Desirable (9%)
- Change in Family Situation (8%)
Watch the quick video to learn how you can use this information to target homeowners in your local market.
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Using Virtual Staging to Merchandise Your Listings
We know the number one reason why a home will or won't sell is the price. It's our number one marketing tool. But beyond price listings often fail to sell because of other key factors including how the home is marketed to the public.
As the market changes the importance of marketing and merchandising listings is becoming critically important. One technique that can provide a relatively inexpensive solution to making your listings more attractive is virtual staging.
Virtual staging can help generate showings and offers by allowing buyers to visualize the home in a more appealing way and give them ideas on how they can transform they home after they complete their purchase.
Watch this quick video as Jim demonstrates Virtual Staging photos along with recommendations for companies that offer this unique service.
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In two one-hour monthly sessions, you will dive deep into these topics, guided by a core curriculum of ideas and unlimited time for questions and idea-sharing. These small group sessions provide a unique opportunity to connect with other like-minded office leaders, sharing experiences, and supporting one another's growth. You are encouraged to bring guests such as staff, sales managers, and ownership teams to these events.
To ensure maximum accessibility and convenience, every session is recorded, and comprehensive notes are provided for your reference.
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