It’s nonetheless a superb market, and the agents surveyed within the first quarterly RealTrends’ AgentPulse expect it to proceed into Q2 2022, regardless of the highest three challenges talked about being low stock, inflation and rates of interest and housing affordability.
Some 71% of the agents surveyed felt optimistic in regards to the subsequent three months, whereas 20% felt impartial. Brokers had been barely extra optimistic in our BrokerPulse Q1 2022 report at 76% who had been optimistic in regards to the subsequent three months.
RealTrends AgentPulse requests quarterly surveys from some 19,000+ actual property agents across the nation on market developments and brokerage alternatives and challenges. Of the 252 accomplished surveys, 24% had been from the Northeast, 15% had been from the Southeast, 27% from the Southwest, 19% from the Midwest, and 15% from the Northwest.
In the survey, some 65% assume that dwelling gross sales will probably be up 5% or extra within the subsequent three months, whereas 24% stated dwelling gross sales will probably be flat. When it involves dwelling costs enhance, 44% stated they anticipated dwelling costs to be up 1% to five%, whereas 42% stated they’d be up greater than 5%.
Biggest challenges
When it involves challenges, COVID restrictions weren’t that large a priority, however nonetheless talked about as an impediment when exhibiting and itemizing houses. Here are the challenges so as of most difficult to least difficult.
Low InventoryInterest charges and inflationHousing affordabilityFinding leadsProfessionalism of different agentsGrowing a teamConnecting with sphereBusiness planningCOVID restrictions
Consumer choices? No curiosity, say agents surveyed
When requested whether or not agents are providing patrons and sellers choices, corresponding to iBuying or applications for money provides and bridge loans, corresponding to Knock, Easyknock or Ribbon, the vast majority of these surveyed stated no or that they weren’t conscious of such companies.
“I’ve supplied, however normally the shoppers aren’t as a result of they will promote on the open market for the next worth and since I’m a seasoned skilled with serving to negotiate the sale of the departure residence and buy of the substitute residence. They belief me,” says an agent with Realty ONE Group West in Irvine, (*1*).
Others agreed with this agent’s evaluation. “There is not a lot curiosity in our space. Sellers understand the worth in enhancing the house earlier than promoting, and we can assist with that,” says an agent with a RE/MAX workplace in Fremont, (*1*).
But, those that had heard of the companies had been within the minority. About 76% of these surveyed stated that they had no information of these companies, had by no means heard of the businesses talked about or aren’t fascinated about discovering out why an agent would even think about providing an iBuying or different financing provide. “I’m undecided what these applications are,” stated a Compass agent within the northwest. Others echoed that sentiment.
However, in RealTrends Q1 2022 BrokerPulse, brokers noticed including or providing these companies as a must-do to compete, so there is a disconnect between the brokerage leaders and their agents. Brokers surveyed stated that training is vital so agents perceive the advantages of providing a menu of choices to shoppers.
Video actually is king
When requested what kind of selling agents are doing to face out, video reigned supreme. The pandemic actually accelerated many actual property skilled’s plans to implement video advertising. While some are selecting video excursions, others are getting inventive with brief movies on Instagram Reels and TikTok. “I’m working with a media specialist to assist me enhance my model recognition, directing folks to my web site and my enterprise,” says a RE/MAX agent within the midwest.
Other standard advertising methods embrace networking, common contact with sphere of affect and focused mailings. 90% of these surveyed says that it takes not less than 4 or 5 totally different strategies to achieve potential sellers and patrons.
The one priority nearly everybody talked about? Creative lead technology for listings. That means all the pieces from boosting your Google presence and variety of critiques to constructing lead-generating web sites and canvassing neighborhoods.
If you have got questions on AgentPulse or need to be added to the checklist, e mail RealTrends Editorial Director Tracey Velt at [email protected].
https://www.realtrends.com/agentpulse-q1-2022-creative-lead-gen-for-listings-is-no-1-priority-for-agents/
