The Summer Market is Heating Up. Here’s What Sellers Need to Know
There’s no sugarcoating it. The last couple of months have been hard.
What was set to be one of the busiest spring markets in your career changed in an instant when the country was forced to hit the pause button.
But we’re starting to see the light at the end of the tunnel. Slowly but surely, life (and business) is returning to some level of normal.
There is, however, one big piece of the market that’s still playing catch up. The sellers that were ready to list back in March are holding off, putting extra pressure on an already stressed inventory situation.
The good news is: the summer market is heating up, buyer traffic is increasing, and mortgage rates are at historic lows. Your clients need to know that they could be missing out on the real estate opportunity of a lifetime.
Here are some points that can help them feel confident to sell their home this summer.
56% of homes sold in April 2020 were on the market for a month or less-NAR
The combination of low inventory and high buyer demand is creating an environment where homes are flying off the market. This is also a good indicator that while certain parts of the economy remain frozen, real estate is not one of them, and the pandemic has not slowed eager buyers from acting.
What this means for your clients
With inventory even lower now than it was before, houses that come to market standout and move fast. Sellers can anticipate a relatively quick and painless home selling experience, especially in the entry to the mid-level range where demand is highest.
The best way to communicate it
Sharing posts on social media that cover important insights like this are a great way to keep your followers informed while delivering information that helps them make the best decision for their real estate plans.
We’ve put together some great options for you to start with based on the information in this blog. You can download the free social graphics here.
Zillow recently reported a 5.9% week-over-week rise in homes being listed for sale
At the peak of the pandemic panic, most real estate markets across the country saw little to no new homes being listed for sale. But with economies slowly beginning to open back up, sellers are starting to resume their moving plans.
What this means for clients
More Americans are feeling confident that the real estate industry is strong and relatively unaffected by the economic downturn caused by the pandemic. Coupled with strong buyer demand, those choosing to sell right now are in a great position to sell quickly and for a good price.
The best way to communicate it
Now more than ever, creating a weekly market update video that you share with your sphere is a great way to educate them on what’s happening with real estate in your area. This can be a simple video that covers the big topics like mortgage rates, what homes are selling for, and how long they’re staying on the market.
Not sure how to get started? We made a short video of Quick Tips for Producing Effective Videos Using Your Phone to help you start making your own!
If you’re looking for some more pointers on how to create great real estate videos, check out this free eGuide: 5 Keys to Start Creating Real Estate Videos Today. Download it here.
NAR recently reported that buyer demand is strong or stable in all 50 states
Before the pandemic, the 2020 real estate market was supposed to be one of, if not the, biggest millennial homebuying years. And new NAR data suggests that strong buyer demand has continued in almost all 50 states despite the pandemic.
What this means for your clients
The combination of strong buyer demand and low home supply will continue to drive a very competitive real estate market with sellers in the driver seat.
The best way to communicate it
During a listing presentation, make sure that you’re highlighting important national and local market insights that help sellers take a pulse of the market. Be honest, transparent, and current, so you earn their respect as a trusted real estate professional.
In this template, we paired standard listing presentation slides with ones packed with important market insights. You can download the free Perfect Listing Presentation here.
Bottom Line
While the world hit a giant pause button on most parts of the economy, real estate remained active across most parts of the country.
But sellers are still hesitant to move forward. This makes it even more important that you’re delivering the right information in the right way to keep them informed and earn their trust.
From social media graphics and videos to listing presentations, there are many different ways to build up confidence in today’s market.
KCM makes it easy to make sure you’re regularly delivering the latest market insights through social media, video, blogs and more. Start a 14-day free trial and share great content today.
