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Now its pretty clear that sellers arent slashing asking prices and mortgage rates arent plummeting, so mindsets are shifting. Key findings from the four weeks ending January 26: Before the seller accepted an offer, the average U.S. Active listings 889,202 11.3% (smallest increase in nearly a year) Months of supply 5.2 +0.3
“It has been four and a half months since the announcement of the NAR settlement, and we have not seen a noticeable change from before the settlement in either the percentage of sellers that offer buyer’s agent commissions or in the average commission amount they’re paying the buyer’s agents,” Compass CEO Robert Reffkin said on the call. “To
Berg and ALTA One attendees also highlight the recent uptick in seller impersonation fraud , which occurs when a fraudster poses as the owner of a vacant lot or vacation home who is looking to sell the property. They need newlistings and they are so desperate that they might take a fraudulent listing.”
“Healthy markets are ones where buyers and sellers have access to all relevant data for their decisions. of newlistings in August have a major risk for extreme heat, while 33% are at risk of extreme heat exposure. Newlistings in the Midwest hold the least amount of climate risk, according to Zillow.
That’s according to Black Knight , which just released a white paper that studies how long it would take to sell all the homes currently listed for sale in a given market based on a prevailing sales rate, if no newlistings are added (a metric it calls “months of remaining inventory”).
According to Mike Simonsen, president and founder of Altos Research, “Home sellers are starting to ease back into the market,” and “newlistings are finally exceeding the levels of a year ago.” That’s a 1.2% increase over last week and nearly 7% more than last year at this time.
Connect with seller leads Purpose: Build trust and start meaningful conversations with potential sellers. Script 1: Initial outreach to sellers Hi [Name], I noticed your home on [Street Name] and wanted to check if you’ve considered selling. I specialize in helping sellers like you find success. Can we discuss your goals?
If you’re an agent, team or brokerage looking to keep a pipeline of qualified listing leads coming your way, SmartZip may the solution you need. SmartZip uses predictive analytics to pinpoint likely sellers from 6 to 18 months in advance, offering a huge advantage in today’s low inventory market. Automated marketing: Yes.
The past year and a half, with its rising mortgage rates , low inventory, and economic uncertainty, has been a challenge for real estate pros, not to mention the buyers and sellers they serve. Make sure you’re ready to share newlistings and that potential clients can easily contact you through your platforms.
MLS connectivity: Connect your IDX-enabled website with your MLS and send listingsand listing details in marketing pieces. Marketing: You automatically receive a customizable property marketing package to promote each newlisting. Automatically add new online leads to drip campaigns with Market Leader’s marketing automation.
Title agents dread being blamed by everyone from the buyer to the seller, from the real estate agent to the lender, for that delay that falls between the signing of a sales agreement and the signing of the closing documents. Where the right technology is strategically selected and wisely implemented and used, it certainly can.
Agents will be able to spend significantly less time on manually entering listings, enabling them to focus instead on interacting with homebuyers and sellers.” Using the listing photos uploaded by the agent, Restb.ai into Black Knight’s MLS platform will radically transform how MLS subscribers interact with MLS Listing data.
SmartZip primarily benefits experienced listing agents, yet any agent willing to nurture seller leads can thrive with this platform. In this dashboard will be a list of property owners in the agent’s target area based on their likelihood to sell within the next 18 months.
Use this tool: Zillow Zillow is not just a platform for property listings; it’s also a fantastic lead generation tool. Advertising on Zillow can put your brand in front of millions of potential buyers and sellers. Use this tool: SmartZip SmartZip utilizes predictive analytics to identify potential sellers in your area.
Listing and marketing properties is a complicated process. For every newlisting, you’ll be reminded when to tackle important milestones. The median dollar value spent using a staging service was $600, compared to $400 when the sellers’ agent personally staged the home.
Real estate prospecting is a necessary activity for agents aiming to build a robust pipeline of buyer and seller leads. There are numerous methods an agent can use to prospect, some traditional and others that leverage technology. It is also possible to purchase lists , although this method feels a little spammy to me.
Property Insights help you save, note, and assign MLS property listings of interest to your clients within Top Producer’s CRM. The MLS integration then updates the status and relevant information of listings attached to each of your clients. All the packages listed can be customized.
It offers a multichannel online advertising service that finds and attracts potential leads, leveraging search intent targeting and social information to engage with potential buyers and sellers. Use this tool: SmartZip SmartZip utilizes predictive analytics to identify potential sellers in your area.
Technology is supposed to make everything easier, and yet it is often the source of so many problems. While you can’t do your job without relying on real estate technology to some degree, you do have to be extra careful when you use it. Here are six ways technology can hurt—or even ruin—your real estate business.
Open house postcards Open house postcard from Wise Pelican Open house postcard from Agents Assemble on Etsy Open house postcard from Agents Assemble on Etsy Open house postcards are a valuable tool in the real estate agent’s arsenal, designed to draw prospective buyers and sellers to your property listings. Turns out yes.
In light of the recent NAR lawsuit outcome , seller leads are even more crucial. This area could be around a newlisting, a recently sold property, or any other geographic location, such as an up-and-coming neighborhood, the area in which they live, or even an area selected based on price point.
But there is one thing for certain: technology has changed the overall industry. Technology has now taken over and revamped the way we interact with property. From virtual tours to real estate apps, it now takes less time and effort to communicate between sellers and buyers. Gone are the days of traditional real estate.
They describe how local buyers have lost out to COVID-driven buyers from New York and other northern states. For the seller, “it’s a no-brainer – you go with the cash deal,” said Ken Johnson, a real estate economist at Florida Atlantic University. But some new arrivals don’t believe they have an upper hand. in December.
Newlistings are seemingly surging. Compared to January and year-over-year (YoY), newlistings are up 18% and 26% for single-family homes and townhomes/condos, respectively. Despite an increase in newlistings, overall inventory remains low, keeping the Colorado real estate market competitive for buyers.
The region’s real estate scene in 2023 will be remembered for rising home prices and scant newlistings. Buyers and sellers tiptoed through caution. As the year dims, all eyes fixate on 2024’s potential: a hopeful dance fueled by dreams of lower rates and a wave of new homes for sale. Um, bye-bye!
On the heels of the largest run up in home values in recorded history, we saw an abrupt and heavy shift that’s been challenging to grapple with for sellers and buyers. Days on market climbed, sellers’ became restless and our month’s supply of inventory finally started to grow. The only problem, nobody wanted a 7.5% in 2022 to 3.4
“Greater participation of sellers and builders in the months ahead will make home sales possible while easing some of the pressure on price growth, which is currently rising at a double-digit percent rate and has been for almost six months.” ” Home prices soared 9.5%
SETTLEMENT FOLLOW-UP A judge has preliminarily approved the $418M antitrust class-action settlement involving sellers’ compensation to brokers/agents in residential real estate sales. News of the settlement and its impact topped last month’s newsletter. The listing video is mesmerizing. List price: $3.39M ($864/sq.
Here’s a negotiating tactic that you may not have thought of: Sellers who “spy” on buyers when they are visiting the home. About three in every 10 sellers say they have used a camera on the property during an open house or showing at their home, according to a study of more than 2,000 consumers from LendingTree. SMILE FOR THE CAMERA.
Over half of Realtors said that social media was their top lead-generating technology tool, according to an October survey report from the National Association of Realtors. If you look at our Instagram right now though, it is probably mostly listings, so we actually need to get better at that. And in real estate, time is money.
Only Tennessee (7.6%) and Idaho (7.5%) had a larger percentage increase in that time, according to a report from the Technology Councils of North America. While the number of newlistings in June jumped 8.2% in newlistings and 57% in active listings at the start of this month (3256), up 124% from a year ago.
just as Google opens another office building in Kirkland and Microsoft expands its 120-structure Redmond campus with plans for 17 new office buildings. All this tech construction gives new meaning to IT architecture! “A ” The increased number of listings and slight slow-down of the market have helped boost inventory numbers.
The county saw the combined number of single-family, townhome and condo listings increase in June by 4.4% While that percentage may appear strong, it’s nothing compared to the April-to-May rise of 18%, signaling a probable cooling of newlistings going forward. New single-family-home listings rose 3.8%
Matching listings appear on the client’s saved search channels, alongside MLS listings. Sellers must provide explicit consent for an agent to privately share their property. Pre-market and off-market listings have caused some controversy in the real estate industry.
Even if a household faced the prospect of foreclosure, buyers would be happy to take the home off an owner’s hands – likely at a profit for sellers – while providing needed inventory. The spring season is nearly over and the number of listings hitting the market has already started to decline, a few weeks earlier than most years.
That, in turn, will finally move the market forward with additional sellers and buyers. I am finishing up my annual blog post that looks back at 2023 and takes a glimpse ahead at the full picture – housing, economy, jobs and newtechnology. This will happen slowly, like a dimmer rather than an on/off switch. 19) at 10am PT.
I am often asked by sellers what home projects should they address to get the highest return on investment. A new door improves curb appeal, adds modern technology to the house and, based on my observations, doesn’t make as much noise as older models! On to newlistings, and we start far away. bath , 4522 sq.
And speculation is swirling that the mass layoffs will result in a surge of newlistings. Altos Research data showed 340 newly listed homes in the D.C. There was little evidence that panicked sellers in D.C. were listing their properties at a discount, as the 26.8% Bright MLS reported that newlistings in D.C.
This year was mostly disappointing for buyers and sellers hoping to find a new home. Please have a look for a deeper dive and I encourage prospective buyers and sellers to discuss 2025 real estate goals with a seasoned broker (like me!) The number of newlistings tumbled 48% from October and was down 2.7%
Stubbornly high rates will continue to hamper sales activity as sellers will be hesitant to list and buyers will grapple with affordability concerns among the fewer available listings. New data from Altos Research shows that the number of newly listed homes across the country is up 4.8% from one year ago.
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