Renters Take Opposing Views on Home Ownership
Considering that renters are still priced out of the market in some areas, many of them are feeling hopeless about their prospects.
While 51% of them consider home ownership an extremely important financial goal, many are setting different goals, such as being debt-free or saving for
On the flip side, renters who want to own a home would go to extremes to buy one. Over 65% would take a second job to reach their goal, while 30% would sell plasma and 29% would skip meals.
If you meet renters who are ready to go the extra mile, please refer them to me. I can assist them by introducing them to loans with low down payments, and/or down payment assistance programs that may enable them to skip the plasma center.1
Energy-efficient Listings Popular with Homeowners
The numbers of green-thinking homebuyers have continued to rise, and so have the number of listings.
Currently, 50% of agents say their listings contain at least one energy-efficient home, and almost as many agents say that their buyers are interested in sustainable features, plus those that don't contribute to climate change.
An important marketing hint to keep in mind: the majority of agents selling energy-efficient homes mentioned that promoting these features has been valuable when attracting potential buyers. For example, solar panels are a growing point of interest with buyers and sellers alike.
Existing home features most important to potential buyers: windows, doors and siding (39%); proximity to frequently visited places (37%); a comfortable living space (37%); and a home's utility bills and operating costs (25%).2
How To Qualify and Assist This Month's Sellers
Depending on your territory's mood this spring, you may hear from would-be sellers who may not seem 100% sure of their plans. Considering that mortgage rates and housing inventory can change on a daily basis, it's understandable that many prospects will be undecided or trying to get a better feel of the local market.
Here are three questions that help you identify those who are genuinely ready to make a move, and how flexible they are with options.
Why have you decided to sell?
Not only does this help you decide if the prospect is serious, you can determine if more assistance is needed. For example, selling for a business relocation means you may want to bring in a relocation specialist. If the seller is having problems making loan payments, you may want to refer them to me for possible help with saving the home.
Are you the sole decision-maker?
This is a polite way to find out if your caller is acting on their own, or doing some agent window-shopping before discussing your services with a co-borrower.
What are your views on assumable mortgages?
Since many sellers and buyers are postponing their plans because of this year's higher interest rates, sellers with FHA, VA and USDA loans may be able to help buyers by considering a possible loan assumption.3
Formula One Flattens NAR NXT 2023 Vegas Venue
If you're already practicing your gambling skills for the 2023 NAR NXT event in Las Vegas, you may want to let the dice cool off.
This is because this year's event has been moved to Anaheim, California. The reason for the move: from November 16th to 19th, a Formula One Grand Prix event will be taking place in Las Vegas, and it's expected to draw over 170,000 racing fans. Plus, a race track is being prepared that would make jaywalking more dangerous than usual. Instead, get ready to visit Anaheim, next door to Disneyland, and dust off your Mickey Mouse ears.4
Sniff Out Pet-Loving Prospects
Did you know that more households have pets than children?
It's one of several smart reasons to keep pet owners in mind when you're creating new marketing ideas and prospecting strategies. Here are four more.
- If you're an avid pet owner, don't hesitate to feature yours in your marketing and social media. You may also want to add "pet-friendly specialist" to your business cards and contact information.
- Be ready to recommend the appropriate pet amenities near each of your listings. If they're near a dog park, pet store, or a highly-recommended veterinarian, keep these notes handy.
- Consider being a sponsor for community events that feature pet adoptions. You'll earn plenty of goodwill while attracting prospects.
- If you have enough spare time, and a photogenic dog or cat – or even a rabbit, hedgehog or guinea pig – consider setting up their own social media account. Check out examples like @JiffPom and @Nala_Cat.5
Sources: 1cnbc.com, 2nar.realtor, 3nerdwallet.com, 4narnxt.realtor, 5nar.realtor
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