Three Time Management Tips for Real Estate Pros
Managing your time wisely is a task that's sometimes easier said than done, especially when local property markets heat up. Here are three ways you can make the most of the hours in your day:
- Schedule business-building time
Use time blocking to make sure you complete marketing tasks, reply to emails, social media posts, and other business-building practices. - Break down big goals
What's the best way to make your big goals for 2022 a reality? Take them one step at a time. Prioritize small, daily actions that use your time efficiently, and you'll move closer to bigger goals. - Don't neglect "play" time
Owning your own business means there's always more work to be done. However, scheduling time for recreation, personal development, and quality time with loved ones will make you more productive in the long run.1
Put a Pin in Your Marketing Strategy
More than 444 million people are on Pinterest every month, and many of them are searching for home-related pins. Real estate agents are using the platform to grow their businesses by implementing these strategies:
- Educating to engage
Some agents are using Pinterest to provide evergreen educational content. Set yourself up as an expert for users looking for information on buying and selling a home, maintenance and organization, and even real estate investing. - Reaching targeted markets
Pinners can create Pinterest boards to separate content into categories. Using specific and specialized boards or hashtags makes it easier to reach your desired target audience. - Implementing strategic timing for pins
While there's no wrong time to pin content, studies show the best time to share pins is during the early to late evening and weekends. Agents are getting more views on Pinterest by sharing content during these peak times. - Creating a business profile
A Pinterest business account is free, easy to set up, and provides marketing options not available within a personal profile. You'll be able to see who's viewing your content, when they're viewing it, and which pins are performing well.2
Home Inspections Go High Tech
Many home inspectors embrace new technology tools to aid in the inspection process. A video summary brings a report to life, visually highlighting issues uncovered during the inspection. It enables the client (and agent) to view more information about areas of concern without entering the property. Inspectors are also creating digital homeowner's manuals that provide comprehensive information about a house's features via an app. Each manual includes details of appliance recalls, HVAC manuals, warranty information, dates of replacement and repair, and more.3
Homebuyers Seek Larger Loans as Construction Costs Rise
The Mortgage Bankers Association recently reported that the average size of a mortgage on a newly constructed home rose to an all-time high. The average loan size rose to $423,102 in December 2021, up from $367,502 in December 2020. Higher construction costs were a driving factor behind the increase, as builders passed on higher expenses to consumers through elevated sales prices. The report also showed that nearly 770,000 homes were under construction across the U.S. at the end of 2021.4
Eight is the Magic Number for Homebuyers
According to a study by the National Association of Realtors (NAR), homebuyers viewed an average of eight properties before making their final selection in 2021. That's the lowest number on record since the association began tracking data in 1987. While low inventory contributed to the lower average, more buyers are taking advantage of online viewing options than ever before. The study found that 95% of buyers used virtual open houses and video tours in their home search, and 51% said they found their home online.5
Sources: 1mckissock.com, 2theclose.com, 3rismedia.com, 4nationalmortgagenews.com, 5housingwire.com
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