Build your business strategy by diving deep into data and crunching numbers.
Five Important Trends
In an interview by Bernice Ross with Richard Sharga, executive vice president of RealtyTrac, a subsidiary of ATTOM, Sharga discussed the most important five trends emerging from company data. Those five trends include:
– Millennial demand for housing to peak in next 3-5 years and Millennial homeowners tending to sell their homes after living in them between 2-5 years
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1) I am ready to join EXP Realty.
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* If you answered “#1” congratulations. You are about to join the fastest-growing real estate company in the world. Tim and Julie Harris are inviting you to join them at EXP Realty. Text Tim directly for the next steps: 512-758-0206. (text only please)
* If you answered “#2” please watch the videos and check out the other intel on this site. http://whylibertas.com/harris .
* If you answered ‘#3’ no worries. You will want to check out whylibertas.com/harris so you can at least know what EXP Realty is and why so many agents are moving to EXP.
– Homeowners continue moving from high-cost, high-tax areas to low-tax, low-cost areas and now, back again
– Foreclosures down by -76%
– 5%-10% of homeowners remain underwater
– Economists expect +5.7% home price increases and interest rates at about 4% in 2022
In Part I of this two-part series, we’ll explore how to capitalize on Trends 1, 2, and 3.
How to Leverage Trends
Millennial demand for housing to peak in next 3-5 years
RealtyTrac data indicates that the prime age to buy a first home is 33.
According to the 2021 NAR Home Buyer & Seller Generational Trends Report, 45% of Millennial homeowners tend to sell their home in 2-3 years while 35% will sell after being in their home for 4-5 years.
- TARGET THESE POTENTIAL SELLERS by getting a paid list from ATTOM or REISource.com. Or,
- Facebook and Google ad campaigns let you target specific demographic groups. Or,
- Connect with your local title company for a list of owners who have lived in their homes for 2-5 years and are between 22-30 years old. You may be able to covert a potential seller into a listing and/or a potential buyer into a trade-up purchase.
Homeowners continue moving from high-tax, high-cost areas to low-tax, low-cost areas and back again.
Continue to generate revenue and referrals from your past clients who have relocated. STAY IN TOUCH WITH YOUR PAST CLIENTS.
Those past relocated clients still have networks and contacts where they used to live.
Send those contacts a detailed report on the home their now relocated friends purchased. Get those reports for free from NARRPR.com and ATTOM’s HomeDisclosure.com.
*Ask those contacts, friends, family, colleagues who remain in your market area if they’d like a CM update on the value of their home at no cost.
*Many relocated past clients are missing their urban lives and moving back in need of new digs.
Foreclosures are down by -76%.
87% of pre-foreclosure homeowners have positive equity in their homes. according to RealtyTrac.
With about 62% of 84M single-family homes with a mortgage, according to the US Census Bureau, that amounts to about 120,000 homes nationwide. Those 120,000 homes translate into about 100 homes, give or take, in your market area.
PROSPECT PRE-FORECLOSURE CLIENTS via a subscription from either RealtyTrac or Foreclosure.com. Or,
Use Oodle Market Place, the largest classified aggregator in the US – Oodle gives out the street and city of aa foreclosed property, not the address so get the specific address from the local title company or REISource search for properties on identified streets that have default notices.
Are you ready to learn what your DISC personality style is? You know it’s critical that you understand what your natural personality style is. Once you have obtained this knowledge everything in your business and personal life will change for the better. Tim and Julie Harris are making it super simple for you to have this powerful info. Now, text the word YOU to 47372, and when you do you will instantly receive a special exclusive text link. Next, you will complete your own DISC personality test.. the results will be shared with you instantly once you complete the simple and fun test, no strings attached. Simply text the word YOU to 47372 and click the link.
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Thanks to Bernice Ross writing for Inman.