While housing inventory remains tight in many markets, the good news is that available unsold inventory today is nearly 27% greater than a year ago, according to industry reports.
Although interest rates are hovering around seven percent, that could offer a bit of a break for would-be homeowners, as pent-up demand and an expected uptick in building are likely to drive a busy spring market.
How can both new and experienced agents prepare to get their fair share of the action?
Invest in yourself – The more you know, the more value you provide. Attend classes or webinars to increase your knowledge and professionalism. Get certified in niche markets, such as vacation homes, senior sellers, the luxury market, or military relocation.
Know the local market - Get a jump on the action by getting up to speed on homes that are currently available for sale and those you know will be going on the market.
Maximize your exposure – Think about spring carnivals, fund-raisers, and other community events where you can meet and mingle with prospective clients. The more people who know you, and know what you do, the more the potential for business.
Make it happen – Spring is a great time to host open houses, educational seminars, and client appreciation events – all of which offer the opportunity to show your value and fill your business pipeline.
Rev up your social media – Spring gardens offer the perfect backdrop for photo and video showcases. Automate and/or sharpen up your social media posts and email drip campaigns and use visual content to show off listings.
Resources: Housing Wire. Dec. 16, 2024, Rising Inventory and the Spring Market NAR Chief Lawrence Yun/RISMedia
