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Choosing between lead generation through cold calling or LinkedIn is not a toss up. It depends on various factors, such as your industry sector, target audience and budget. In the real estate industry, both are powerful but the effectiveness can vary depending on the market segment. Residential real estate is very different than commercial, for example. Using AI on LinkedIn can significantly enhance your lead generation efforts.

LinkedIn Pros:

Targeted outreach: You can be precise when targeting your audience based on factors like their industry or role. This is beneficial for commercial and residential markets. AI tools can automate and personalize messages. It also ensures regular communication that is timely. Lead generation done through AI can identify the right prospects based on job title, industry and location.

Professional network: LinkedIn offers access to a vast network and companies. You can connect with other realtors, investors and commercial clientele. LinkedIn Sales Navigator, while not purely AI, offers advanced filters and recommendations to help find great leads.

Sharing of content: LinkedIn allows you to share valuable content and establish thought leadership. For example, success stories and market insights can both build credibility. When using AI on LinkedIn, AI can suggest relevant content topics based on trends in order to engage your audience.

LinkedIn Cons:

Indirect approach: LinkedIn provides a less immediate response and is not as direct as a simple phone call. Initial contact is less personal.

Algorithm: Success can be impacted by your activity level on the platform as well as the algorithm.

What is the best approach?

Start with LinkedIn and end with a phone call

For many realtors and brokers, a hybrid approach works best. Individuals can begin by reaching out to potential clients via LinkedIn. They can share regular content on the platform including success stories in order to keep people engaged. Following up will be key for maintaining new connections and building relationships. A phone call will be powerful for discussing specific needs and opportunities.

Reminder For Sales Calls:

Develop a clear script that doesn’t sound forced. Refer to great bullet points. Schedule calls daily. Block a few hours in your busy day to make them. Use a CRM system to track your efforts.  In real estate, leveraging both sales calls and LinkedIn can provide a powerful approach to lead generation.

Posted On Monday, 03 June 2024 10:46 Written by
Posted On Monday, 03 June 2024 08:22 Written by

So much of the mortgage industry is based upon simple rules like, it either works or it doesn’t, or you can either document it, or you can’t! We don’t make the rules, we just navigate each opportunity. The path to success is different, but always we strive for the same conclusion; a closed loan, satisfied referral partners, and clients that experienced an exceptional process. It doesn’t matter about the markets, the interest rates, or the type of loan programs that were involved, if you are aware of what the true mission is, history will repeat for you over and over and over again! Unfortunately, the same holds true when you don’t produce these outcomes and experiences, your poor results will also repeat! Those that don’t learn the lessons of history are condemned to endless failures, while those that do, will prosper knowing that it isn’t price that makes a career; it’s the PROCESS! Master your process and control your own success!

History also teaches us that our markets are framed by national rules, regulations, and pricing, but our individual environment shapes the when, where, and how business is transacted. Never is that more important than these 90 days from just before school closes, and a couple of weeks after school is back in session. That 90-day window can control as much as 70% of your annual production IF you have a plan and execute it well! The reason: those families trying to navigate selling, buying, and moving in a short window is about as stressful as it gets. If you can guide those families well, referrals, like history, will repeat!

Speaking of history, the bond market has been very unhappy the past couple of days and history tells us that it doesn’t take much to push it one way or the other. Especially given we have out regular initial jobless and continuing claims this morning, along with GDP numbers. Add in that tomorrow we have the PCE numbers, and we could easily see the good, the bad, and possibly the UGLY!

So please, be aware of the information and the impact on the markets both today and tomorrow. It may be completely benign, or we could easily see significant movement in one direction or the other. So be sure to check your resources for the information and be certain you are prepared for any outcome. It doesn’t hurt to be prepared for the worst, and then celebrate the best if that should be the case.

As always, questions or comments: This email address is being protected from spambots. You need JavaScript enabled to view it.

Posted On Monday, 03 June 2024 00:00 Written by
Posted On Monday, 03 June 2024 00:58 Written by
Posted On Friday, 31 May 2024 13:10 Written by
Posted On Friday, 31 May 2024 11:07
Posted On Friday, 31 May 2024 10:47

U.S. renters are less likely to move than they were a decade ago, as soaring housing costs have priced many out of homeownership

One in six (16.6%) U.S. renters stayed in their home for 10 years or more in 2022, up from 13.9% a decade earlier. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.

Redfin also analyzed renter tenure by other timeframes:

  • 5-9 years: One in six (16.4%) lived in their home for five to nine years in 2022, up from 14% a decade earlier.
  • 1-4 years: The lion’s share of renters stay put for one to four years. Just over two in five (41.8%) stayed in their home for one to four years in 2022, up from 39.9% a decade earlier.
  • 12 months or less: One-quarter (25.2%) of renters stayed in their home for 12 months or less before moving in 2022. That’s down from 32.2% in 2012.

“The uptick in tenure is beneficial for renters and their landlords,” said Redfin Senior Economist Sheharyar Bokhari. “While the fact that people are staying longer in their rentals may mean they can’t afford to buy a home in today’s market, staying put also means they’re saving some money that could eventually go toward a down payment if they do have a goal of homeownership. Staying in the same home means they’re likely to face smaller rent increases, and they’re saving money on moving costs and application fees. Landlords typically prefer long-term tenants because they don’t have to spend money on cleaning and marketing vacant units.”

There are a few main reasons renters are staying put in their homes longer than they used to:

  • Renters are priced out of homeownership. The median U.S. home-sale price has more than doubled since 2012, and it has risen more than 40% since 2019 alone, and mortgage rates are elevated near two-decade highs. That makes it difficult for renters to save for down payments and monthly mortgage payments, and encourages them to stay put.
  • Rental prices have risen, too. Asking rental prices have also soared, increasing more than 20% since 2019, discouraging people from moving from one rental to another.
  • Renting as a lifestyle has risen, too. The pandemic-driven rise in remote work encouraged some Americans to be renters rather than homeowners so they could easily relocate for jobs or lifestyle without being tied down to a home they own. Some renters also choose to invest their money in places other than real estate. That increases renter tenure because those are the people who may have otherwise moved out of a rental into a home they purchased.
  • One thing that hasn’t risen enough: supply of homes for sale. There are far fewer homes for sale in the U.S. than there were a decade ago. Even the renters who can afford to become homeowners—and want to—may not be able to find a home to buy.

Renters move less often than they did a decade ago, but they move much more often than homeowners. Just one in five (20.8%) renters nationwide moved in 2022, down from 28.9% in 2012. Just 7.6% of homeowners moved in 2022, up slightly from 6.4% in 2012.

Bokhari noted that it’s possible we could start to see renter tenure decline soon. There was an apartment-building boom in 2023, giving renters more options for places to move and cooling rental-price growth.

Young renters more likely to move often than older renters

Gen Z renters are much more likely than renters of other generations to move within one year, while baby boomers are much more likely to live in their rental for 10-plus years.

  • Gen Z: More than half (55.5%) of Gen Z renters stayed in their home for 12 months or less as of 2022, and another 40.6% stayed for one to four years. Just under 4% of Gen Z renters have lived in the same place for five-plus years.
  • Millennial: 28.8% have lived in their home for 12 months or less, and 50.7% have lived there for one to four years. Roughly 20% stayed for five-plus years.
  • Gen X: The lion’s share of Gen X renters (39.5%) stayed in their home between one and four years, while just 17.1% stayed for 12 months or less. Roughly 22% stay for 5 to 9 years, and another 22% stay for 10 years or longer.
  • Baby boomers: Roughly one-third (32.9%) of baby-boomer renters have lived in their home for 10-plus years, and another one-third (32.2%) have lived there for one to four years. Just over one in five (21.5%) have lived in their home for 5 to 9 years, and 13.3% have lived there for 12 months or less.

There are several reasons young renters move a lot. Many adult Gen Zers are in college or in the early stages of their career, life stages that often beget moves. They also have more flexibility because they’re less likely than millennials and Gen Xers to have children living at home. Additionally, many Gen Zers and millennials move out of rentals into the first home they purchase.

Metro-level highlights: Where renters stay in their homes longer

The 50 most populous U.S. metros are included in this section

  • Renters move most often in Austin, TX, where 38.2% of renters stayed put for 12 months or less in 2022. That’s the highest share of the 50 most populous U.S. metros. Next come Denver (34.4%) and Nashville, TN (34.4%).
  • Renters stay put longest in New York, where just 15.8% of renters moved in 12 months or less in 2022. Next come Riverside, CA (16.5%) and Los Angeles (17.5%). That’s partly because it’s expensive to buy a home or sign a new lease in those metros, discouraging renters from moving; staying put allows renters to stay in areas where there’s opportunity for jobs and desirable schools even if they cannot afford to buy a home.
  • Renters move less often than a decade ago in all but one of the metros in this analysis (San Jose, CA is the exception). Roughly one-quarter (24.8%) of Las Vegas renters stayed in their home for 12 months or less in 2022, down from 42.4% in 2012, the biggest decline. Next come Riverside, CA (16.5%, down from 32.8%), and Atlanta (25.8%, down from 37.8%).
  • Renters in San Jose, CA, San Francisco and Boston are just about as likely to move within a year as they were a decade ago. In San Jose, 30.3% of renters moved in 12 months or less in 2022, up slightly from 29.1% in 2012. In San Francisco, it’s 23.8%, down slightly from 24.6%. And in Boston, it’s 26.5%, down from 27.3%.

To view the full report, including charts, metro-level summaries and methodology, please visit:
https://www.redfin.com/news/renters-staying-put-longer

Posted On Friday, 31 May 2024 07:56 Written by

--  Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.03 percent.

“Following several weeks of decline, mortgage rates changed course this week,” said Sam Khater, Freddie Mac’s Chief Economist. “More hawkish commentary about inflation and tepid demand for longer-dated Treasury auctions caused market yields to rise across the board. This reality, as well as economic signals that have moved sideways over the last few weeks, have resulted in mortgage rates drifting higher as markets continue to dial back expectations of interest rate cuts.”

News Facts

  • The 30-year FRM averaged 7.03 percent as of May 30, 2024, up from last week when it averaged 6.94 percent. A year ago at this time, the 30-year FRM averaged 6.79 percent.
  • The 15-year FRM averaged 6.36 percent, up from last week when it averaged 6.24 percent. A year ago at this time, the 15-year FRM averaged 6.18 percent.

The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website |

Posted On Friday, 31 May 2024 06:16 Written by
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