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Growing sales in real estate and beyond, requires a multifaceted approach that encompasses marketing strategies, client engagement, market understanding and more. The following are some best practices to help sales professionals achieve sustainable growth:

  1. Learn your audience: Conducting market research is so important prior to making any cold calls or outreach. Market research will help you understand industry trends, client preferences and the competition. Next, by taking the time to gather feedback from your clients and prospects, you will zero-in on their needs and pain points.
  1. Deliver superior services: This might sound obvious, but it will serve you well. Ensure your services exceed client expectations. Through continuous innovation, you will keep your offerings relevant and better than your competition.
  1. Strengthen your client relationships: By providing exceptional customer service, trust will be established and maintained. Resolve issues right when they happen. Don’t wait. And tailor your offers to the specific needs of different client segments. There is no one-size-fits-all here.
  1. Optimize sales processes: Use a CRM software to manage and track all sales leads. Excel spreadsheets are not sufficient. Data analytics will track sales performance and identify patterns and trends. You can’t make informed decisions without this detailed feedback.
  1. Expand your outreach: In terms of geographical expansion, it’s a good idea to explore new markets and regions in order to gain new clientele. Next, by diversifying your approach, you will also reach a wider audience. You can use a mix of direct sales and online platforms.

By combining these 5 suggestions, you can effectively grow sales in real estate and any industry for that matter. You want to build a strong foundation for sustained success and growth.

For more tips on Sales, watch this video that discusses sales in the context of real estate:

 

Posted On Wednesday, 29 May 2024 05:59 Written by
Posted On Tuesday, 28 May 2024 15:37 Written by
Posted On Tuesday, 28 May 2024 15:34 Written by
Posted On Thursday, 30 May 2024 00:00 Written by
Posted On Tuesday, 28 May 2024 12:07
Posted On Tuesday, 28 May 2024 09:31

Homebuying is no simple feat. It can be time-consuming, expensive and confusing, so it’s no wonder people want to cut corners. But those cuts can be costly, especially when mortgage shopping.

Our latest survey found that the majority of buyers don't shop around for a mortgage and many are leaving money on the table because of that. Here’s what else we found. 

  • Over half (54%) of those who took out a mortgage for their most recent home purchase only got one loan offer. Meanwhile, 22% got two offers and 17% got three or more. 
  • Among those who compared more than one mortgage offer, 45% say the lowest offer didn’t come from their first lender.
  • Refinancers are more savvy with comparison shopping. Of the 45% of homebuyers who refinanced, 56% shopped around. Comparison shopping paid off, as 81% found a lower rate than their current lender offered.
  • Over a third (35%) of buyers say they purchased a home earlier than planned to take advantage of low rates. 

You can check out our full report here: https://www.lendingtree.com/home/mortgage/shopping-around-survey/

LendingTree's Senior Economist and report author, Jacob Channel, had this to say:


"The exact amount that a borrower can save by shopping around for a mortgage will vary based on factors such as the rates they’re offered and the size of their loan. That said, it’s not out of the realm of possibility for someone who received multiple offers and then picked the one with the lowest rate to save hundreds of dollars a month, thousands of dollars a year and tens, if not hundreds, of thousands of dollars over the lifetime of their loan."

Posted On Tuesday, 28 May 2024 08:05 Written by

Prices keep rising because this spring’s inventory is lower than usual. The sliver of good news for buyers is that mortgage rates have declined slightly

The median U.S. home-sale price hit a record $387,600 during the four weeks ending May 19, up 4% from a year earlier. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Weekly average mortgage rates dipped to 7.02% from a five-month high of 7.22% at the start of the month, bringing the median monthly housing payment to $2,854, roughly $20 shy of April’s all-time high.

High housing costs pushed pending home sales down 4.2% year over year, the biggest decline in three months (except the prior 4-week period, when sales declined 4.4%). Prices keep rising despite declining sales because there aren’t enough homes on the market: New listings are up about 8% year over year, but inventory remains lower than typical spring levels. Many homeowners are staying put because they would rather hold onto their relatively low mortgage rate than move up to a bigger and/or better home.

“Move-up buyers feel stuck because they’re ready for their next house, but it just doesn’t make financial sense to sell with current interest rates so high,” said Sam Brinton, a Redfin Premier agent in Salt Lake City, UT. “The homeowners listing right now are often doing so because they need to: One of my clients is selling because of a family emergency, and another couple is selling because they had a baby and simply don’t have enough room. Buyers should take note that many of today’s sellers are motivated; if a home doesn’t have other offers on the table, offer under asking price and/or ask for concessions because many sellers are willing to negotiate.”

For Redfin economists’ takes on the housing market, including more on how current financial events are impacting mortgage rates, please visit Redfin’s “From Our Economists” page.

Leading indicators

Indicators of homebuying demand and activity

 

Value (if applicable)

Recent change

Year-over-year change

Source

Daily average 30-year fixed mortgage rate

7.09% (May 22)

Up from 6.99% a week earlier, but down from a 5-month high of 7.52% 4 weeks earlier

Up from 6.95%

Mortgage News Daily

Weekly average 30-year fixed mortgage rate

7.02% (week ending May 16)

Down from 5-month high of 7.22% 2 weeks earlier

Up from 6.39%

Freddie Mac

Mortgage-purchase applications (seasonally adjusted)

 

Declined 1% from a week earlier (as of week ending May 17)

Down 11%

Mortgage Bankers Association

Redfin Homebuyer Demand Index (seasonally adjusted)

 

Essentially unchanged from a month earlier (as of week ending May 19)

Down 11%

Redfin Homebuyer Demand Index, a measure of requests for tours and other homebuying services from Redfin agents

Touring activity

 

Up 31% from the start of the year (as of May 19)

At this time last year, it was up 22% from the start of 2023

ShowingTime, a home touring technology company

Google searches for “home for sale”

 

Down 8% from a month earlier (as of May 19)

Down 18%

Google Trends

Key housing-market data

U.S. highlights: Four weeks ending May 19, 2024

Redfin’s national metrics include data from 400+ U.S. metro areas, and is based on homes listed and/or sold during the period. Weekly housing-market data goes back through 2015. Subject to revision.

 

Four weeks ending May 19, 2024

Year-over-year change

Notes

Median sale price

$387,600

4%

All-time high

Median asking price

$420,250

6.6%

All-time high

Median monthly mortgage payment

$2,854 at a 7.02% mortgage rate

10.5%

$18 below all-time high set during the 4 weeks ending April 28

Pending sales

89,303

-4.2%

Biggest decline since 4 weeks ending Feb. 25 (except the prior 4-week period, when sales declined 4.4%)

New listings

102,671

8.5%

 

Active listings

901,194

14.8%

 

Months of supply

3.2

+0.6 pts.

4 to 5 months of supply is considered balanced, with a lower number indicating seller’s market conditions

Share of homes off market in two weeks

44.9%

Down from 49%

 

Median days on market

33

+3 days

 

Share of homes sold above list price

31.3%

Down from 34%

 

Share of homes with a price drop

6.4%

+2 pts.

Highest level since Nov. 2022

Average sale-to-list price ratio

99.5%

-0.1 pts.

 

Metro-level highlights: Four weeks ending May 19, 2024

Redfin’s metro-level data includes the 50 most populous U.S. metros. Select metros may be excluded from time to time to ensure data accuracy.

 

Metros with biggest year-over-year increases

Metros with biggest year-over-year decreases

Notes

Median sale price

Anaheim, CA (20.1%)

Detroit (16.9%)

San Jose, CA (12.9%)

Oakland, CA (12.5%)

West Palm Beach, FL (12%)

San Antonio (-1%)

Fort Worth, TX (-0.6%)

Decreased in 2 metros

Pending sales

San Jose, CA (18.4%)

San Francisco (8%)

San Diego (4.3%)

Newark, NJ (3.6%)

Columbus, OH (3.3%)

West Palm Beach, FL (-15.3%)

Atlanta (-14.9%)

Houston (-14.5%)

Phoenix (-12.3%)

Providence, RI (-11.6%)

Increased in 10 metros

New listings

San Jose, CA (36.7%)

Montgomery County, PA (26.2%)

Phoenix (26.1%)

Seattle (21.2%)

San Diego (21%)

Atlanta (-8.1%)

Chicago (-4.9%)

Detroit (-3.9%)

Virginia Beach, VA (-2.6%)

Newark, NJ (-2%)

Warren, MI (-1.8%)

Decreased in 6 metros

To view the full report, including charts, please visit:
https://www.redfin.com/news/housing-market-update-pending-sales-fall-prices-increase

Posted On Saturday, 25 May 2024 06:48 Written by
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