Crucial Tips for Networking in Real Estate

Some people still remember using the old dial-up internet connection. Sometimes, it would take as long as a minute to load a particular page. Back then, imagining doing any kind of serious work was a completely absurd thought. Fortunately, things are entirely different now. Today, most people have access to high-speed internet connections. And the majority of businesses use it, one way or another. The internet is one of the backbones of whole industries, and functioning without it now seems impossible.

As a result, working from home and even attending professional development courses from home have also become an ordinary thing, especially lately. However, that brings specific changes in how businesses operate and from where. Meanwhile, employees, employers, and real estate agents are starting to wonder about the impact of remote working on the housing market.

How significant is the impact of remote working on the housing market?

Given the recent changes forced upon the business world by inconvenient medical events, everyone is trying to adapt. Chances are, after all the adaption is complete, the remote working trend will remain for a while. Maybe even for good. Due to this new trend, the housing market will have to adjust accordingly.

Let's take a look at current and possible changes we might expect:

Some people will leave expensive cities

Besides those who really enjoy the city crowd, most of the workforce will probably leave large cities. Places like New York and San Francisco are costly, and most people who live there do so only because of their jobs. But, if you give them the opportunity to keep the job and live in a more affordable location, you can guess the outcome. Having a well-paid job without worrying about monthly bills is definitely a just goal. With this in mind, some of the residents are already calculating their moving budgets. As a real estate agent, you'll have to adapt and offer some tips to your clients. Looking in the long run, this will probably lower the demand in those expensive places. With lower demand, prices will undoubtedly go down. Eventually, it will balance the discrepancies that have lasted for quite some time now.

A pass between two buildings in one of the business centers.

There is no need to stay in large business centers with remote working.

Remote working will affect the demand for specific housing options

With more people shifting toward remote working, a large percentage of those will work from home. With this in mind, many are already implementing a home office. Those who haven't, but plan to relocate, are now looking for different housing options. Because now they can afford a more spacious home, the home office has become one of the requirements. And not only that. Once you have the opportunity to customize your working space, the appetite rises. As they need to spend more time at home, they will need larger outdoors and even indoor gyms. People will ask for modern, tech-oriented features, like hi-tech appliances and energy-efficient solutions. Most older homes will have to go through the renovation stage to stay competitive on the market.

The contractor installing solar panels on the roof.

A lot of older houses will require contractors to implement energy-efficient solutions.

Even real estate is going remote.

Brokers will face difficult decisions if the remote work trend continues. There might be less and less demand for traditional apartments and similar housing options. They will eventually have to invest a lot to adapt all the property in their area. But, there is another option. They can change the way they work by following these remote trends. And this is precisely what some of them are already doing.

With a full embrace of technology, most aspects of the real estate job can be done remotely:

  • There are already virtual tours instead of open houses.
  • Modern communication apps allow easy interviews with tenants.
  • All security checks are accomplished online.
  • Digital certificates enable dealing with all the documentation.
  • You can even schedule maintenance and renovation tasks with contractors over the internet.

And these are just some of the benefits the entire remote philosophy is bringing to the table.

Making a business agreement with another person online.

Brokers can manage all their business tasks online.

Real estate agencies can expand to more distant locations

All the potential shifting happening in the housing market is fundamentally reshaping real estate. But not necessarily for worse. Fortunately, brokers will have the opportunity to benefit by expanding the business to more distant locations. With all the remote options we previously discussed, great possibilities are emerging. These newfound potentialities will make it viable to control and handle far markets. Basically, you won't have to focus on one area, you can expand to both suburbs and the more distant regions, and more far-away cities as well. With online payments being one of the primary ways of transferring money, it is only a matter of time when all the payment procedures will be completely automated.

Remote investments

This remote control and automation could lead to an increase in remote investment. Since real estate agencies will be expanding their influence to other areas, people will have an easier time investing in distant property. They will also help people manage their property online as well. With all the advancement in technology, and all the remote working trends going on, living near your investment will no longer be necessary. This principle pretty much already works fine in several other business areas.

Will the remote working trends and changes stay?

In all honesty, people are aware that investing in a constantly changing housing market can be tricky. Especially now when changes are still without firm foundations. Also, the percentage of remote workers themselves believe that these trends are only temporary. Many expect to be back in their offices once the crisis is over. On the other side, some claim that this was inevitable, a sort of long-expected business evolution. Also, some people just can't decide if they like offices or remote working more. And this can reflect on the housing markets in unpredictable ways.

But the key is to find a middle ground between all the sides. In general, some larger companies are already seriously considering solutions. Opening remote offices all around the globe could be the right move. It will allow companies to get cheaper offices and almost eliminate commuting for employees. Everyone could be working everywhere if the nature of the business allows.

A young man browsing the internet on his laptop in a café.

The old stereotype of a remote worker is far from the truth.

Today, we realize that a remote worker is not a typical stereotype packed into a young freelancer working from the internet café.  It's an average businessman earning his salary by dealing with all the business demands online. And those average businessmen have different concerns when it comes to their housing options. The impact of remote working on the housing market is significant and will probably have an even more considerable influence in the future. Maybe some of them will not permanently leave their offices for the sake of working from home. But, all signs are pointing at the fact that it's something inevitable we might expect in years to come.

 


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Millennial Home Buyers: What They Really Want

Millennials love analyzing and making very informed decisions about everything in their life, given the Internet has made this process quite easy.

They have different expectations for their lives and look for uniqueness in all aspects. The majority of real estate markets nowadays consist of a large number of millennial home buyers. In 2018, Millennials were responsible for 1/3 of all home purchases. Millennials will continue to drive the market, especially as they become more financially stable.

It’s important to understand what features home buyers are looking for in a home and to know how to make sure those features are being showcased, especially when targeting Millennial home buyers. Here are the top 4 selling points Millennials are looking for in their home. 

  1. Walkable location and accessible amenities
    • Proximity to work and play options are high priorities to this group. Contrary to popular belief though, Millennials are targeting suburban communities with a short drive to a big city for social interaction. 
  1. Move-In-Ready, Single Family Homes
    • Millennials are eager to swap their rental apartments for single family homes. Homes that require little maintenance appeal to this market so that they may spend weekends relaxing instead of completing repairs & maintenance. 
  1. Energy Efficiency & Technology:
    • Millennial home buyers want to have complete control over their systems. This generation will pay more for automated or voice-activated devices like HVAC systems and appliances. 
  1. Fancy Outdoor Space:
    • Weekend entertainment is especially important to this generation. As such, must-haves include fenced-in backyards, patio areas and outdoor cooking areas. Millennial buyers want to create a relaxing outdoor retreat. 

It is important to understand what Millennial buyers, those born between approximately 1980-1995, want in their next home. Location, community amenities and energy - efficient features all factor into their buying decisions. Since they make up such a large portion of today's potential home buyers, it’s vital you understand the above things they are looking for when shopping for home. Homeowners and real estate agents who understand these things and who know how to highlight them greatly improve their chances of a quick and profitable sale.

Social Media Success for Real Estate Professionals

Now more than ever, social media marketing is essential to promoting yourself as a real estate professional. Gone are the days when home buyers would open a newspaper to look for properties for sale or look up names of real estate agents in a phone book.

Therefore, it is imperative for any real estate agent to use social media in marketing their businesses and listings. And while any realtor can open a Facebook or Instagram account, it's not always as clear how to use social media as a tool to send the right message to the right people at the right time. In our course Social Media Marketing for Real Estate Professionals you will find valuable need to know information to make yourself and your business a social media success! Here are 3 steps to get maximum exposure for your brand and properties online.

1. Use Different Platforms

Remember all platforms are different and the voice and message should match that. The top 3 social media markets are Instagram, Facebook and Twitter. Of course, there are many more, but don’t spread yourself to thin trying to market on every platform.

Post photos on Instagram to generate leads.

Instagram is widely considered the perfect social media platform for realtors. There are more than 700 million users on Instagram, who reportedly press the "like" button on images about 4.2 billion times per day.

  • You get engagement by doing polls on insta-stories (very effective) and asking a question in the last line of the caption. Getting users to engage on your account is one of the best ways to grow and connect with your audience.

Without a doubt, Facebook is the king of social media.

With more than 2 billion users worldwide, it is easy to understand why the brainchild of Mark Zuckerberg is the first thing that comes to mind when one hears "social media."

  • Use the 80/20 rule with updates: 80% of posts ought to be customer-centric while 20% should be about the business. It also helps the cause of agents to post about happenings in and around their communities like local charity events, school-related activities or even gas prices (especially when they're low)

 Tweet to promote listings.

The volume of tweets will greatly boost a realtor’s exposure. The more tweets a real estate agent sends out, the more leads can be generated. In addition to sharing listings, there are other types of content or pieces of information worth tweeting, like advice on moving as well as tips for staging and upgrading homes.

  • Hashtags are also very important, as people use them to search for a particular topic on Twitter. Agents should use hashtags like the geographic area they operate in, recent events or keywords that their target market may be searching.

2. Use more videos and photos

Just like many others, it’s tough to turn the camera on yourself….but you have to get over it! The reality is that no one cares that your video isn’t professional grade all the time, your hair isn’t perfect or that you stumble over your words occasionally. Being yourself is the key. People will respect your effort and want to do business with you if you are authentic. Establishing that you are likable, good at your job, and can be trusted are the keys to winning!

  • Sharing images and video clips on your social media platforms can also greatly enhance the engagement level of real estate agents online.

3. Measure social media metrics.

Finally, real estate agents should identify and track their social media metrics to gain a better understanding of which strategies are working and which should be replaced or tweaked.

    • Metrics like the number of "likes" per share, number of followers and level of engagement can guide real estate agents toward what they ought to do with their social media campaigns. Facebook Audience Insights will tell you which kind of posts generate interest, and which kind lead to unfollows.

 


 

SOCIAL MEDIA MARKETING FOR REAL ESTATE PROFESSIONALS

Learn the ins and outs of social media marketing from experts that work in both social media and real estate.  Use these tools and tricks to upgrade your personal and professional profiles, drive leads, and increase business.

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Class-Action Lawsuit Filed Against NAR

The lawsuit filed by home seller Christopher Moehrl in March of this year is on its way to making traditional home buying and selling a thing of the past. The NAR, 20 of the largest MLS’s across the country and 4 of the largest real estate broker franchises, are being accused of violating federal antitrust laws by conspiring to require home sellers to pay buyer commissions at an inflated amount. The end goal of said plaintiff is to make selling a home more affordable by changing how agents share commissions on local MLS’s.

NAR’s “Buyer Broker Commission Rule”, “requires all brokers to make a blanket, non-negotiable offer of buyer broker compensation” in order to participate in MLS. Without using MLS brokers cannot effectively market their properties and sellers are paying both brokers commissions which results in an ineffective and anti-competitive market.

There are 2 problems with the current archaic system. First, since the buyer’s agent will get ½ of the commission, it may induce them to cherry-pick listings to show only those properties with the highest commissions. The second problem is that the commissions presume full-service work on the parts of both agents. What happens if the buyer knows what property they want? That greatly reduces the workload of the buying agent, yet they still receive the same commission for less work.

What does this all mean for the future of Real Estate? This consequential lawsuit (if the plaintiff wins) will change the percentages that come with Real Estate transactions, making a big impact in the Real Estate Industry. With the opening of MLS to something that provides for competition, it will swing the doors wide open for internet brokerages such as REDFIN and ZILLOW. With more transactions happening virtually, salespersons and brokers will have to market themselves in new ways. The days of print and tv ads are dwindling and social media presence will be essential. We can help guide you in making yourself an invaluable player online with our Social Media Marketing Course! Learn the ins and outs of social media marketing from experts that work in both social media and real estate. We provide you with tools and tricks to upgrade your personal and professional profiles, drive leads, increase your network and business!


 

SOCIAL MEDIA MARKETING FOR REAL ESTATE PROFESSIONALS

Learn the ins and outs of social media marketing from experts that work in both social media and real estate.  Use these tools and tricks to upgrade your personal and professional profiles, drive leads, and increase business.

$42.00Add to cart