Monday, September 28, 2020

    Congratulations Phoebe Reyes on winning our $100 Gift Card!

    Phoebe recently shared the following feedback with ProspectsPLUS!.

    First mailer just went out and its huge. “It was easy to edit the flyer and it was huge! I got a listing appointment on the first day. Let’s hope the results and contacts keep rolling in.”

    Phoebe recently sent out the Market Dominator (below).

    Market Dominator Front Side
    Market Dominator Back Side

    Need help targeting the perfect niche of buyers or sellers? Use our prospecting list tool to create the ideal list (it’s easy) or call our support team for assistance at 866.405.3638!

      Many millennials have exited the market. Millions more, however, are itching to buy a home. Millennials, the generation born between 1977 to 1995 (Center for Generational Kinetics), number more than 83 million.

      It’s rather challenging to paint broad strokes with a group of people this large. They are currently between the ages of 25 and 43, which makes pinning down their preferences, attitudes and lifestyle even tougher.

      We do know who among them is in the real estate market and what this group is seeking in a home.

      Millennials in the real estate market

      Three of the top five metropolitan areas that Millennial homebuyers are flocking to are located in Texas – Dumas and Eagle Pass, number one and two, respectively and Midland at number four.

      Hastings, Nebraska and Williston, North Dakota round out the top five, according to Ellie Mae’s Millennial Tracker.

      We’ve all heard of the exodus from big cities to smaller ones or even rural areas and this seems to be the proof.

      Here’s what else the Tracker tells us about the average Millennial homebuyer:

      • The average age is 31
      • 60% are married
      • Average FICO score: 740
      • The average loan amount is $211,050
      • The average appraised value of the homes they are buying is $267,456
      • Most (81%) obtain a conventional loan, with only 16% using a FHA loan and 1% a VA loan. Two percent of the loan types were “unspecified.”
      What are they looking for in a home?

      The 2020 Millennial Homebuyer Report found that the average Millennial homebuyer is seeking a home with about 1,700 square feet of living space.

      First Time Buyer Series

      “While these younger consumers may not aspire to have a McMansion, modern homes with new and different amenities are absolutely important,” according to Jeff Fromm, “expert on Millennials,” at Forbes.com.

      The pandemic has changed not only where homebuyers are choosing to live but their preferences in homes as well. Millennials are seeking the same, what is now considered basic, amenities as older buyers.

      They are especially focused on “…  where they can establish a ‘home office’ or a ‘home school’ or both,” within the homes they are considering purchasing,” Allan Merrill, CEO of Beazer Homes, tells Fromm.

      And, kitchens are still important. “Not necessarily smaller, but simpler, healthier, and smarter with as much visibility and natural light as possible,” according to Josh Kassing at BDMag.com (citing the National Kitchen + Bath Association’s 2020 Market Outlook).

      The neighborhood is key to Millennials as well. “Our younger buyers are typically very interested in being outside,” Merrill continues. Beazer homes is concentrating on adding amenity centers, pools, a dog park, walking trail and/or “access to a park or open space,” to their new neighborhoods.

      “After sheltering-in-place for four or five months,” according to Kassing, “and faced with growing families, they’re longing for more space—especially outside and not necessarily just for their kids.”

      He goes on to state that more than 80% of the cohort are dog owners and space for the pooch is critical.

      Deal breakers

      If you hold a listing that you assume is ideal for a Millennial, make sure that the homeowner takes care of the following “deal breakers,” according to the Millennial Homebuyer Report:

      • Mold
      • Pest / Insect infestation
      • Foundation issues
      • Leaky roof
      • Odd smells

      Deal makers? Urge your listing clients with smaller homes with yards to create an office or homeschool space to appeal to the commute-averse Millennial. It can be as simple as using an extra bedroom or the attic.

      Stage the backyard to give the Millennial buyer and idea of the lifestyle it affords.

      How to reach these homebuyers

      More than one-third of Millennials surveyed for the Homebuyer Report said that they will use a first-time homebuyer assistance program to help with their down payment.

      4 Low Down Payment Mortgage Options Direct Response Report

      The 4 Mortgage Options with Low Down PaymentsDirect Response Report highlights down payment options as low as 3% down. Download this report and include it in your listing presentations. In addition, offer it as an opt-in on your website and free offer on your direct mail pieces.

      Yes, it’s common knowledge that one of the best ways to reach this cohort is through social media. But it’s not a “one and done” method of communication. It requires consistency to make a difference.

      To attract the attention of Millennials on social media:

      • Post regularly
      • Use clear, compelling photos featuring people like them
      • Promote suitable listings with ads on Facebook
      • Join Facebook groups and engage (as an everyday person, not an agent) consistently
      • Use relevant hashtags
      • Have the perfect listing for a Millennial? Create a single-listing website and share the URL on social media
      • Highlight your best testimonials on your home page and sprinkle them throughout the rest of your website pages. Social proof is critical to Millennials.

      Most of all, Millennials crave information on the process, from comparing mortgage rates to getting a mortgage all the way through closing.

      And, you’re the perfect person to provide this information.

      First Time Buyer Series
      Send a postcard from the First Time Buyer Series to a targeted list of Millennials in your area.

      Need help targeting a specific niche of buyers or sellers? Use our Demographic Search Tool to create the ideal list (it’s easy). Or call our support team for assistance at 866.405.3638!

      PLUS: When you have time…here are some helpful resources we’ve made available to support your success.

      1. Become a Neighborhood Brand

      Become branded in a specific neighborhood with a 12X15 marketing piece sent automatically each month to an exclusive carrier route. Watch this video to learn more or Click Here.

      2. The Free Real Estate Mailing List Guide

      This image has an empty alt attribute; its file name is Real-Estate-Mailing-List-Guide2-3-D-999x1024.jpg

      The Real Estate Mailing List Guide outlines the top tools for generating targeted prospecting lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here

      3. The Free 12 Month Done-For-You Strategic Marketing Plan

      This image has an empty alt attribute; its file name is 2020-Planner-3D-999x1024.jpg

      The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here

      4. The Free One-Page Real Estate Business Plan

      This image has an empty alt attribute; its file name is Business-Plan-3D-Book-New1-270x300.png

      Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan.  – Click Here

      5. Become a Listing Legend Free eBook 

      This image has an empty alt attribute; its file name is Become-A-Listing-Legend-3D-Book-White-274x300.jpg

      Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

      6. The Free Online ROI Calculator

      This image has an empty alt attribute; its file name is ROI-calculator-b-233x300.jpg

      Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here

      7. The Free Real Estate Marketing Guide “CRUSH IT” 

      This image has an empty alt attribute; its file name is CRUSH-IT-Guide-3-d-298x300.jpg

      The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here

        Ready to stretch those marketing dollars? Here’s how.

        The latest statistics on the nationwide number of mortgage applications show a 21% increase over this time last year, according to Diana Olick at CNBC.com.

        And although there was a slight 2% dip recently, judging by inventory shortages across the country, buyer interest continues to be very high.

        It’s still a seller’s market, which is the key point you’ll want to make when communicating with the homeowners in your CRM.

        We love warm calls

        Comb through your CRM for the warmest leads among these homeowners and start your campaign with these people as your target audience. Yes, even friends and family and past clients.

        Pick up the phone and start dialing for dollars. And, naturally, during the conversation you’ll want to let them know how desperate homebuyers are for homes in the area and, oh, by the way, “Do you know anyone who might be considering selling their home?”

        You’ll most likely not get the name of a red-hot listing lead, and that’s ok. You are now top-of-mind with these people.

        Real Estate Times postcard
        What happened?

        Not taking the listing after a presentation is painful. But, remember another old real estate lesson: “Stay in touch until they list – and beyond.”

        St. Paul, MN broker Teresa Boardman once spoke about one of her most cost-effective lead gen techniques that you can copy.

        Go through your CRM, looking for homeowners for whom you gave a listing presentation over the past three years.

        Check the MLS to find out if the home ever sold with another agent. If not, take this condensed list of sellers and send them the Real Estate Times postcard. Catch them up on the current hot market and explain why now is the perfect time to join it.

        Remember, #StayHome has made millions of homeowners overly familiar with their homes, and many have found that the home no longer fits their needs.

        Always let these leads know how ideal the market is for sellers, how much equity they’ve built up, and about the super low current mortgage rates.

        Very early in her campaign, Boardman had taken one listing and another homeowner felt like a “real strong possibility.” A third was debating renting out her home or selling it.

        Go wide

        Connecting with people on social media is so easy right now. Since the outbreak of the pandemic, internet usage has increased 70%, according to Mark Beech at Forbes.com.

        Real Estate Times postcard

        Studies from Pew Research claim that more than half (53%) of “… Americans say the internet has been essential during the COVID-19 outbreak.” 

        The amount of time that Americans spend on social media platforms, in particular, has increased from 79 minutes per day in 2019 to 86 minutes per day now.

        There is a lot of engagement to be had right now online, particularly on social media.

        Use all that important information you have up your sleeve to let sellers know that they won’t find a better time to sell their homes and to convince buyers that they should remain in the market.

        Yes, inventory is super tight and homeowners just aren’t getting it that this is an amazing time to sell their homes for top dollar.

        This is also the ideal time for real estate agents to cultivate seller leads through old school prospecting and easy and affordable prospect list building with tools like the Demographic Search tool and Map My Mail.

        Real Estate Times Series
        Send a postcard from the Real Estate Times Series to your CRM and Farm and update them on the current real estate opportunities.

        Need help targeting a specific niche of buyers or sellers? Use our Demographic Search Tool to create the ideal list (it’s easy). Or call our support team for assistance at 866.405.3638!

        PLUS: When you have time…here are some helpful resources we’ve made available to support your success.

        1. Become a Neighborhood Brand

        Become branded in a specific neighborhood with a 12X15 marketing piece sent automatically each month to an exclusive carrier route. Watch this video to learn more or Click Here.

        2. The Free Real Estate Mailing List Guide

        This image has an empty alt attribute; its file name is Real-Estate-Mailing-List-Guide2-3-D-999x1024.jpg

        The Real Estate Mailing List Guide outlines the top tools for generating targeted prospecting lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here

        3. The Free 12 Month Done-For-You Strategic Marketing Plan

        This image has an empty alt attribute; its file name is 2020-Planner-3D-999x1024.jpg

        The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here

        4. The Free One-Page Real Estate Business Plan

        This image has an empty alt attribute; its file name is Business-Plan-3D-Book-New1-270x300.png

        Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan.  – Click Here

        5. Become a Listing Legend Free eBook 

        This image has an empty alt attribute; its file name is Become-A-Listing-Legend-3D-Book-White-274x300.jpg

        Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

        6. The Free Online ROI Calculator

        This image has an empty alt attribute; its file name is ROI-calculator-b-233x300.jpg

        Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here

        7. The Free Real Estate Marketing Guide “CRUSH IT” 

        This image has an empty alt attribute; its file name is CRUSH-IT-Guide-3-d-298x300.jpg

        The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here

          Gen X – those born between 1965 and 1976 – was the hardest-hit cohort during the 2007 Recession, with a nearly 60% drop in median household net worth. Blaire Briody, at BusinessInsider.com says that this is “the largest drop of all age groups.”

          Amazingly, this is also the generation who has seen the greatest comeback since then.

          Between 2010 and 2018, “… the median net worth of Gen X households has risen 115 percent,” according to Andrew Soergel at USNews.com, citing a researcher at Pew.

          Today, we have a new crisis (the pandemic) and it’s impacting members of two generations: Millennials (age 25 to 43 this year) and Gen Z (age 24 and younger).

          To deal with closed college campuses and the financial impact, many of these younger folks have gone home, to Mom and Dad.

          Many of their parents want to help. If you have clients who are parents of Millenials and Gen Z the following are ideas you can share with them to get their kids to finally and forever leave the nest to feather a nest of their own.

          Rent By Number Series with custom sub-heading
          How to structure the deal

          Many parents fear creating a financially-dependent, adult wanna-be by helping their Millennial or Gen Z child purchase a home.

          If their son or daughter is generally mature and responsible and just needs a bit of temporary help, parents most likely have nothing to worry about.

          A lot also depends on how they structure their assistance, and this is where you come in, offering solutions.

          The different forms of “help”

          Helping an adult child realize the dream of homeownership comes in many forms. Naturally, if your clients have the means, they may just want to purchase a condo or starter home outright and gift it to their child.

          But there are alternatives, including:

          • Loaning the money, at a lower rate than lenders charge, which will help make the mortgage payments more affordable.
          • Buy a home using a share-equity agreement.
          • Gift the child the down payment and closing costs for a condo that he or she purchases.
          The “Bank of Mom and Dad”

          The best advice you can give your clients is to meet with their financial advisor, accountant and/or attorney to obtain advice about loaning the adult child the money for the home – either the down payment or the purchase price.

          This way, they’ll understand all of the ramifications and have legal documents drawn up to protect themselves.

          Whether they will charge interest on the loan is up to them, but, again, urge them to get the advice and assistance of professionals.

          Rent By Number Series with custom sub-heading
          The co-ownership option

          Co-ownership of a condo or starter home offers parents the opportunity to share in the equity that is built up over the period of ownership.

          This option isn’t without its pitfalls, however. For instance, when the home is eventually sold, it may subject you to a capital gains tax.

          “However, if parents are going into the purchase simply to help the kids qualify for the mortgage and intend their contribution to be a gift, they can structure ownership so that their interest is nominal, and work with a lawyer to place that interest in a trust for the benefit of the kids,” according to Derrick Penner of the Globe and Mail.

          The operative words there are “work with a lawyer.” We cannot stress enough the importance of ensuring your clients get professional financial and legal advice.

          Mom and dad own it and lease it to the kid

          If your clients have been contemplating buying an investment property, this may just be the ideal way to get their child into homeownership. Your clients will retain the tax benefits of owning the condo and the rental agreement can be structured so that they gift a percentage of ownership annually until the child owns the condo outright.

          There are a number of ways to help an adult child move into homeownership. Go through your CRM and make some phone calls to parents of young adults. You may just have found a goldmine.

          Rent By Number Series with custom sub-heading
          Send a postcard from the Rent By Number Series to a prospecting list of empty nesters and get them excited about another solution for their boomerang kids.

          Need help targeting a specific niche of buyers or sellers? Use our Demographic Search Tool to create the ideal list (it’s easy). Or call our support team for assistance at 866.405.3638!

          PLUS: When you have time…here are some helpful resources we’ve made available to support your success.

          1. Become a Neighborhood Brand

          Become branded in a specific neighborhood with a 12X15 marketing piece sent automatically each month to an exclusive carrier route. Watch this video to learn more or Click Here.

          2. The Free Real Estate Mailing List Guide

          This image has an empty alt attribute; its file name is Real-Estate-Mailing-List-Guide2-3-D-999x1024.jpg

          The Real Estate Mailing List Guide outlines the top tools for generating targeted prospecting lists including Baby Boomers, Empty Nesters, Investors, Lifestyle Interests, High-Income Renters, Move-Up Markets, and more. The Guide also defines done-for-you marketing campaigns to match these markets. –Click Here

          3. The Free 12 Month Done-For-You Strategic Marketing Plan

          This image has an empty alt attribute; its file name is 2020-Planner-3D-999x1024.jpg

          The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, Niche Marketing, Get More Listings, Geographic Farming, and Sphere of Influence. –Click Here

          4. The Free One-Page Real Estate Business Plan

          This image has an empty alt attribute; its file name is Business-Plan-3D-Book-New1-270x300.png

          Treat your business like a business it is vital to long-term success in this industry. Some agents may put together elaborate business plans, yet there’s something powerful about keeping it simple. Check out our one page Online Real Estate Business Plan.  – Click Here

          5. Become a Listing Legend Free eBook 

          This image has an empty alt attribute; its file name is Become-A-Listing-Legend-3D-Book-White-274x300.jpg

          Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

          6. The Free Online ROI Calculator

          This image has an empty alt attribute; its file name is ROI-calculator-b-233x300.jpg

          Consistency and automation are the keys to success. Discover how effective direct mail marketing can dramatically increase your bottom line. Enter your statistics in our Free online ROI Calculator and click the ‘CALCULATE MY ROI’ button to see your results instantly! –Click Here

          7. The Free Real Estate Marketing Guide “CRUSH IT” 

          This image has an empty alt attribute; its file name is CRUSH-IT-Guide-3-d-298x300.jpg

          The “Crush It” Guide includes easy steps to launching an effective direct mail marketing campaign, how to create a targeted prospect list, the perfect way to layout marketing materials for success, seven opportunities available to target in your area right now. –Click Here