THE NEW REAL ESTATE INVESTOR PROFILE: Where do They Come From?...Why Do They Want To Buy/sell Now???
As we appear to be moving slowly out of the depths of the Great Real Estate Recession, there are things I think we need to ask our buyers and sellers. If we can, each of us, as real estate professionals who know what is REALLY going on...(that means all of you here on ActiveRain!!) pull this information together, USE IT FOR YOUR MAREKTING EFFORTS and put it out there for your buyers and sellers...we could actually be in a better position to serve the public in a more efficient manner. As an example: How many of the recent transactions in your area have been new construction? This is a very important statistic that will help you in guiding anyone who has money to spend on a new home. Or if you know that new construction is moving at a quick pace and at higher price points---why not let your buyers know that too? Why not then target your "farming" to the new construction market, and let that part of the industry know you are THE go to person, informed and prepared to handle the large numbers of "New" home buyers in your marketing area.
I have some questions that I would love to hear your response to if you can answer them:
CREATING A PROFILE of your current roster of buyers/sellers
1. Are your buyers those sellers from 2 years ago who sold at the height of the market?
2. Are they first time buyers?
3. Are they using all cash?
4. Are they financing more?...or less than they have in the past?
5. Is new construction getting top dollar in your area?
6. How many of your total sales fall under the "New Construction" category?
7. Is there a "desperate" seller syndrome--buyers looking for the seller who HAS to sell?
8. Is the seller "getting" it when it comes to properly pricing their home?
9. Are sellers in your area now convinced that the worst is over and as a result not listening to low bids?
10. Since most markets have had significant price adjustments, do you feel like your market has reached the bottom?
There are a lot of questions and there may be even more that I have not thought of. However, when you look at the valuable information available to your buyers and sellers if you are able to put your hands on the answers to these questions (or most of them) there is tremendous value there! Then if you pull them together, compile them into a concise "handbook" which you can then hand to your customers and clients, The rewards for getting to the bottom of these questions could be priceless!!! There are still many pathways to homeownership!
WHAT BETTER WAY IS THERE TO PROVE YOUR KNOWLEDGE OF YOUR INDIVIDUAL MARKET, AND BECOME A LOCAL EXPERT???
**ALL INFORMATION AND CONTENT IN THIS BLOG IS ORIGINAL TO PAULA I. HATHAWAY
Paula I. Hathaway, Senior Broker Associate, Douglas Elliman Real Estate
Southamtpon Village Real Estate Specialist since 1995; Also Specializes in North Sea, Noyac, Water Mill and Bridgehampton, New York
Diamond , Gold and Chairman's Circle Awards; Top Producer since 2005
Click here to see my Hampton's website to see all my listings; please email me or call me for all your real estate needs in Southampton, Bridgehampton and Watermill: http://www.elliman.com/paulahathaway
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