Fence-Sitting Home Sellers? Coax them Down with the Latest Housing Market News
Think back to the days before you got involved in the real estate industry. Did you truly understand the workings of the housing market?
Sure, there are the economic geniuses among us, but many, many agents come from careers far removed from that. It’s safe to say that the teachers-turned-real-estate agents didn’t have the time or energy to pay attention to the real estate market.
Congratulations! You’ve just put yourself in the typical homebuyer’s and seller’s shoes.
Imagine how they’re feeling right now, and you can understand why “housing market bubble” has been a highly-searched term on Google.com in recent months.
This is despite agents across the country doing their best to let folks know that the odds that we’re facing another burst real estate bubble are slim to none.
If you have clients who have decided to watch the market instead of getting in it to sell their homes, you have some convincing to do.
As we all know, if they hope to sell for a reasonable price, the time to jump into the market is right now.
The Fence Sitter Campaign is shown above. To learn more bout this series, Click Here.
If I were you
I’m not. But if I were, I’d send a postcard to every potential home seller in my CRM.
It would be simple yet effective.
Perhaps the front of the card would say, over a lovely real estate-ish graphic, something along the lines of:
“Home prices continue to climb”
Under that headline, I would place this recent quote from Devon Thorsby at US News and World Report:
“Home prices are down month-over-month but still up year-over-year annually.”
Additional salient points to make, space permitting, of course, include:
- Ignore month-to-month figures. As Thorsby says, “… month-to-month data is more volatile and does not signal a drastic shift in the market on its own.”
- Home price growth is slowing, but it’s a sign of current economic conditions (higher mortgage rates, inflation, etc.), not a housing bubble.
- The national median home sale price in November “… is 3.5% higher than the same month the year before. This represents “… the 129th consecutive month of a year-over-year increase in the median home price, the longest-running streak of increasing year-over-year prices, per NAR data.” According to Thorsby.
- Finally, Realtor.com’s economists claim that the median list price nationwide was $416,000. This represents an 11% increase compared to the same month last year.
Express the urgency of listing sooner rather than later. Few economists expect the price growth to last, so getting the home on the market now gives your clients the advantage of getting the most money possible for the foreseeable future.
And this good news comes just in time for these folks to take advantage of the spring market.
Reach out if you need help with your postcard campaign. We are happy to help.
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