As home prices rise, fewer homeowners are underwater, or owing more on their mortgage than their home is currently worth. In the first quarter of 2017, 350,000 borrowers regained equity, which dropped the total number of underwater owners to 1.8 million, according to the latest Mortgage Monitor Report from Black Knight Financial Services, a real estate data firm.The population of underwater homeowners has dropped by nearly 1 million borrowers sin
The long-term trend of larger homes will persist in the building industry and will likely have big consequences on housing affordability, according to Robert Dietz, the chief economist of the National Association of Home Builders.“Rising regulatory costs, increasing labor and land costs, and a tighter financing environment encouraged builders to shift to the higher end of the market in greater numbers,” Dietz notes in a recent column at BUILD
To better target your marketing dollars, real estate brokerages are leveraging predictive analytics to reach those who are most likely to buy or sell.Predictive analytics is a way to forecast future trends and results by analyzing historical data with statistical algorithms. New technology has made it more accessible in recent years to businesses of all sizes.Imagine being able to target a consumer who is contemplating selling before they even
No matter if your client is buying or selling, counteroffers can pose sticky negotiations from both sides. Here are three tips for successfully responding to counteroffers:1. Ask for something in return.Sellers and buyers alike should remember that counteroffers are made because the other party outlines something very specific they want in the transaction, Kohn-Laski says. For example, if your buyers find that appliances are specifically not
Agents who use direct mail to market should give this iPhone app a lookKey Takeaways Direct mail remains a highly effective marketing and customer follow-up tactic. This iPhone app lets users embed links to videos that are later accessed via text shortcodes. Gift cards are printed directly onto mailings via a patent pending process.KardZee is a service that lets real estate agents create and mail custom postcards. Platforms: iOS app; browser-base
Key Takeaways Use the FORD -- Family, Occupation, Recreation, Dreams -- method to build rapport and learn about your clients. As an agent, only let people know as much about your politics and beliefs as you are comfortable with.Working with buyers is a very intimate experience. When thinking about and discussing “home” with buyers, we’re not just talking about the real estate or business transaction, we’re also diving into the emotional i
Featuring Allen Stone breaking into Ryan Lewis' house, it's, well, an invasion of privacyKey Takeaways Allen Stone spends 20 minutes "breaking and entering" Ryan Lewis' home for sale.What is Allen Stone’s Invasion of Privacy? Well, the first (and so far only) episode involves the soul singer from the Pacific Northwest breaking into DJ and producer Ryan Lewis’ Seattle house, then running amok inside.Lewis (of Macklemore fame) is listing his
The majority of buyer's agents say a staged listing helps their clients visualize life in the homeKey Takeaways Staging a home "greatly reduces" the amount of time a home stays on a market, according to seller's agents. Buyer's agents concur that home staging has an effect on their clients' decision and how much they're willing to spend.Inventory is low, which means most listings are selling faster than ever. But there are still some outliers
Preparation and rehearsal are the keys to success and confidenceKey Takeaways Agents should feel comfortable approaching their brokers for listing presentation advice and criticism, and brokers should make sure their feedback is constructive and practical.Agent perspective Summer is baseball season, and it is definitely fair to say that I am stuck in a slump. I have done hundreds of listing presentations over my career, but my last few have bee
How to talk to your clients about the importance of this protectionA home warranty company’s primary goal is to make your clients feel secure and protected in their new purchase. It’s scary to buy a home and not know the state of the systems and appliances inside. A home warranty can provide that peace of mind and protection.One of the complaints home warranty companies get from new homeowners is that their home warranty didn’t cover
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