Spring represents new hope and new beginnings. Flowers are blooming, trees are budding and baby birds are chirping as they embrace the first rays of sunshine in a new season. But Spring also represents the new birth of an economic cycle that begins with the strength of the real estate market. Real estate drives our economy.Each year we anticipate the buyer confidence born in the Spring market. Will buyers invest in real estate this Spring season and if so, how much?
Although the housing market in the US has been disappointing in the past few years with most sales essentially flat, there have been very promising signs of improvement. In most markets, foreclosures and short sales are in the last stage of their race to clear out from the inventory. As of February 2015, foreclosure inventory was reported down approx. 34% from the year prior. Homebuilders are reporting new home sales have picked up in January of 2015 reflecting a rise of consumer confidence. Recent changes by the Federal Housing Administration stand to lower the cost of mortgage insurance and down payment requirements for first time homebuyers. Add to this the remaining low interest rates and we find ourselves positioned for a very good opportunity to invest in real estate right now.
“We are Positioned for a
Very Good Opportunity to
Invest in Real Estate
We are seeing increased sales, higher prices and more agents entering the business in each region at EXIT Realty. This is very good news, however, we must not get too comfortable simply because the market is improving. As a 25 year veteran in this industry, I am looking forward to a strong 2015 in the US and urge all real estate agents to follow a few tips and commit to an “all in” attitude.
Understanding the local market, where it is currently, where it’s been and where it’s going is key. Real estate is local and studying the local market trends provides the knowledge the consumer needs when purchasing a property. This type of information is sought by both buyers and sellers entering the real estate market. The largest percentage of homes is purchased between May to August. Pricing is a critical component to getting any property sold. Knowing the price, condition and length of time similar homes sold for can provide a clear picture on the best strategies to compete in the local market and set realistic selling price expectations. Testing the market with an unrealistic price can be damaging to the final sale price. Typically, the longer a house stays on the market, the further away it gets from the asking price. A house usually gets the most activity when it first hits the market. This rush of activity will often create a sense of urgency among buyers searching for a home and this can lead to multiple offers bringing in the highest price and/or terms. Hiring the right agent is important. Agents must be on their game with the proper training to provide the knowledge needed at critical moments during the sales process. Because market trends, tools and technology change on a regular basis, we at EXIT Realty keep our training calendar up to date with our trainers staying ahead of the curve for the best delivery via live, interactive and recorded videos for all our associates in the best interest of the consumer.
Marketing is a huge component to the overall sales process. And it takes more than just one plan to get the job done. Technology has changed our industry, in fact it as changed our lives in the past few years. The buying process today, now begins on the web and quite often on our mobile device. When buyers inquire about a particular listing, there’s usually only one opportunity to show the property in it’s best light. Our e-listings website showcases each listing exclusively to get the most and best for each of our home sellers. Each listing comes with it’s own website, a variety of photos and narrated e-tours to describe best features. Virtual home tours syndicate to several other sites that host video for the maximum exposure. We live in an instant gratification society and when a consumer shows an interest in a property, they want answers and further information instantly and require text messaging, smart phone multimedia tours, mapping features and more. In addition to e-listings, our EXIT Promo-Shop offers our agents the ability to reach out to clients and consumers with e-newsletters, manage drip campaigns, create property flyers as well as thousands of professional marketing pieces. Each agent and every brokerage within EXIT Realty has access to TORC (Total Office Resource Center) to manage their real estate business online. The most valuable asset for a real estate agent is the consumer and/or the client. TORC helps associates manage contacts, share documents, manage properties, maintain calendars, to do lists and so much more.
When a home owner is preparing to sell a property or a buyer is ready to purchase a home, being prepared with the right representative to assist in successfully getting the job done starts acheter viagra with knowing the agent chosen has the knowledge, tools, technology, training and support in this highly competitive market.
Written By: Victoria Rivadeneira
Victoria Rivadeneira is the President of the US Northeast Division, EXIT Realty Corp., Int’l which includes Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut, New York, New Jersey, Delaware, Maryland, District of Columbia, Pennsylvania, West Virginia and Virginia.
Victoria began her real estate career in Staten Island, NY, approx. 25 years ago where she quickly became a high producing, award winning agent. She went on to own and manage both an independent brokerage and then a large franchise brokerage. Victoria currently serves on The Professional Standards Committee, The Article 12a Committee and The Technology Committee for the New York State Association of REALTORS® and served as Local Chapter President for The Women’s Council of REALTORS® in 1998 and again in 2008. She also co-hosted a NY based live real estate radio show on am970 for several years & currently co-hosts “Real Estate & More” on 1450am.