Consumer Demand for Green Homes is Rising
Given that approximately 25% of the country's energy is used by residential homes, it's no surprise that sustainability is playing a growing role in consumers' home buying decisions.
In real estate, sustainable features such as solar panels not only increase the appraised value of a home, but it can also offer other benefits. In addition to lowering utility costs, many green homes provide better air quality, improving the health and comfort of its inhabitants.1
Facebook Ad Bidding: Strategies for Success
Your Facebook ad campaign's success is due in large part to your ad bidding strategy. While the highest bid usually gets the most ad placements, the size of your bid isn't the only determining factor for ad delivery.
Three factors influence your success:
1. Your bid.
This is the maximum amount that you will potentially pay to win a bid. However, lower bids may still win. For example, if your highest-bidding competitor set their maximum bid to $1.00, and yours is $1.50, you'll only need to pay $1.01 to win the bid, not the full $1.50.
2. Relevance score.
Your ad's relevance score considers all the positive interactions that users have with your ad such as liking or clicking on it, versus negative interactions such as hiding or ignoring the ad.
3. Estimated action rates.
If Facebook's ad delivery algorithm estimates your ad will receive a high number of actions, it will give it priority.
In addition, you have three bidding strategies.
1. Lowest cost.
This strategy will help get your ad in as many placements as possible for the lowest cost. However, you relinquish control over your actual Facebook advertising cost.
2. Control cost with a bid cap.
This strategy is similar, but it allows you to set a bid cap which prevents Facebook from bidding an amount higher than the one you set to be your cap – thereby ensuring you won't be bidding higher than what each conversion earns you.
3. Target cost.
This strategy helps you maintain an average cost per conversion. Facebook can bid above and below the amount you set as the target cost but will try to keep the overall cost near the amount of your target cost. This strategy is recommended when you're trying to get as many conversions as possible.
Remember, you'll need to conduct ample testing to uncover which bidding strategy works best for you.2
A Sound Concession Strategy is Key to Winning Negotiations
Successful negotiators know that they must be willing to offer an occasional concession and have a sound strategy for making them. But what's an effective concession strategy?
First, enter a negotiation fully expecting to grant concessions but determined that you'll end up with a great deal. What you aspire to can significantly influence how you reach a bargain.
Next, structure your opening position aggressively. Making minor concessions from that position will help you end up where you hoped to be. Try to think beyond the next anticipated concession to several moves ahead. Be unpredictable to keep your opponent from anticipating your next offer.
Take your time in communicating each concession; the longer you take, the more likely your opponent will suspect that your ability to grant additional concessions is decreasing.
Finally, do not offer a concession without getting one back. You might even suggest a concession you'd make IF a specific concession were given by your opponent. Be sure to consult with your client beforehand, to ensure you suggest the best possible option.3
Three Housing Statistics That Are Much-Needed Good News
Given that mortgage rates more than doubled this year, hitting a 20-year high in October and pushing past 7%, it's no surprise that these recent statistics are fueling some optimism among real estate professionals:
1. Mortgage rates fell again.
Decreasing for the second week in a row, the 30-year fixed-rate mortgage averaged 6.58% for the week ending November 23rd. Is it enough to bring out more homebuyers? It was before...but in the current environment, it's hard to predict.
2. Home prices are softening.
Home prices have decelerated for the 6th straight week. They rose, but at a much slower pace than before. Price points are becoming less of a sticking point.
3. The bargain bin of old listings is growing.
For the week ending Nov. 19, overall inventory was 49% higher than a year ago, and these homes sat on the market seven days longer than they did last year. This means buyers can finally take their time shopping for real estate deals.4
Four Ways to Add Smart Seasonal Sparkle
There are some fun ways to use smart home speakers, doorbells, electrical plugs, and more to spread joy, impress your guests, and ease your stress this holiday season. Here are four of them.
1. Create a hassle-free light show.
Avoid having to crawl under the tree to turn lights on and off, or trudge outside to light up your yard display. Connect your lights to a Smart Plug, install the app on your phone and pair the Smart Plug with your smart speaker to control your holiday lights with a simple voice command.
2. Plan the perfect party.
Use your smart speaker as a virtual elf to create a shopping list, or a to-do list to help you prepare for your holiday party. And whenever you're stressed and don't know what to do next, just ask Alexa/Hey Google what's on your list.
3. Get kitchen help.
What should you do when you suddenly realize you're missing vital ingredients for those holiday treats you're whipping up? Fix it fast by voice-ordering through Amazon Fresh or Whole Foods. Or, if you need help finding the perfect dish, use your smart speakers and avoid getting sticky fingers on your cookbooks or recipe cards.
4. Program your doorbell to play carols.
Connect your smart doorbell to your smart speaker, open the Alexa app on your phone, click "Access devices," and tap your doorbell device. You'll be presented with doorbell music options ranging from "Deck the Halls" to "Jingle Bells."5
Sources: 1theamericangenius.com, 2blog.hunchads.com, 3realtytimes.com, 4realtor.com, 5realtor.com
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