Buyers Beginning to Take the Real Estate Wheel
Today's sellers are seeing things they haven't seen since the pandemic began. Bidding wars are starting to fade, and homes are remaining on the market for longer. It's good news for buyers who are happy to regain opportunities to negotiate with buyers.
Experts say May was the official turning point, as the number of homes for sale climbed to a new high and one in five sellers dropped their sales price. However, buyers shouldn't break out the champagne just yet. Many are still priced out of the market, with the median sales price skyrocketing 16% to $400,999 year-over-year.1
Three Dos and Don'ts for Your Perfect Headshot
Every agent knows they need an impressive headshot...however, finding the time to make it happen is often the biggest challenge. Here are three things to remember to ensure you put your best face forward.
1. Don't be THAT real estate agent.
We all know the agent who is afraid to get a new headshot because the one they've used for years is "instantly recognizable." Unfortunately, if your look isn't current, your personal brand and marketing materials may appear dated.
2. Do invest. Don't overpay.
The phrase "you get what you pay for" is especially true with your headshot. Make sure you book a professional photographer, but only after you do some research, ask for recommendations, compile a shortlist and compare prices.
3. Do present a professional image.
When you're preparing for your headshot photo, make sure your outfit and styling present you as friendly, knowledgeable and approachable. When your photo session is over, don't hesitate to get a second opinion. If possible, ask a fellow agent to help you choose the ideal headshot.2
Five Must-Watch TED Talks for Real Estate Pros
Five Must-Watch TED Talks for Real Estate Pros
Communication is always key. Radio host Celeste Headlee will help you have great conversations with anyone you meet.
2. Grit: The power of passion and perseverance.
This short video features former management consultant Angela Lee Duckworth. She explains how grit and passion are just as important to success as IQ, talent, and looks.
3. How to make work-life balance work.
Nigel Marsh offers the ideal day that balances work, family, and personal time — and how you can make it happen.
4. Want to help someone? Shut Up and Listen!
This speech from Ernesto Sirolli details how the most important step to take before you act is to listen. His advice applies to agents and anyone in a position to share knowledge.
5. How to make stress your friend.
Psychologist Kelly McGonigal presents the unusual belief that stress isn't all bad. In fact, she even details the ways you can make stress your friend.3
Here's How This Housing Downturn Isn't Like the Last One
Since the real estate market is cooling, some of your clients may be wondering if this downturn will be like the last one. The short answer is no, and it's because housing is in far better shape than it was in 2008.
This is mainly because of new lending rules that were put in place after the Great Recession, which have greatly reduced the number of risky, underwater and delinquent loans. The average borrower today has a FICO score of 751, compared to 699 two years after the housing crash and before new mortgage regulations like the Appraisal Independence Requirements (AIR) were introduced in 2010. Mortgage delinquencies are also at record lows with only 3% of mortgages past due.<4
Blue Doors May Get Sellers More Green
A recent survey discovered that the color of a home's front door could affect its sale price by thousands of dollars. The big winner was blue, with buyers willing to offer about $1,537 more for a home with a slate blue door. Going bold can be lucrative, too.
Buyers said they would pay an average of $6,499 more for a home with a high contrast entrance, like a white house with a black door. The losers included pale pink front doors, which were especially unappealing to buyers and could detract from a home's price by an average of $6,516. The cement gray front door received the most thumbs down, coming in dead last.5
Sources: 1nationalmortgageprofessional.com, 2realtybiznews.com, 3mckissock.com, 4cnbc.com, apartmenttherapy.com5
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