How to Grow Your Real Estate Business

What is happening? Well, last year’s high house prices, low mortgage rates and strong house price growth have tipped the market in favor of sellers and investors. More than likely, it helped you land a lot of great Russia WhatsApp Number deals for a pretty good profit, but now the “thriving” market is changing. No one expects a housing crisis. but make no mistake, this downturn will shake the market. Here’s what to expect: Limited inventory means there will be more competition for leads. Higher mortgage rates mean more expensive buyers and harder to generate leads. And a slight drop in home sales means closing deals may need more incentives. In other words, whatever strategies worked for you in 2018 might not be as effective in 2019.

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Realtor.com’s real estate forecast for 2019 indicates that it will be a tough year for buyers and sellers. Buyers face rising mortgage rates and more expensive monthly payments (about 8% more expensive). This will keep a number of potential first-time home buyers off the market. (image source) Sellers and investors don’t have it much easier. There will be a lot more competition and you probably won’t be able to close deals that easily. Selling will take longer and might even require incentives such as price cuts. Bidding wars are also quite unlikely as inventory will be limited. Remember that the market is still healthy, it’s just a little more difficult than before.

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If you set competitive prices, use incentives, and get creative when it comes to generating leads, you can always thrive. Your mindset should evolve with the market The market is changing, so your mindset should be too. After all, it’s not 2018 anymore, so it’s time to throw away last year’s strategies and get ready to find some new ones. If you don’t change your strategy to reflect market changes, you may be missing out on great opportunities to grow your real estate business in 2019. So let’s talk about where you should focus your energy. There is evidence to support that marketing harder during downturns can give you a competitive edge. A study from McGowan Hill’s Research Laboratory of Advertising found that businessperson who spent more money and time on marketing during downturns fared better than those who hid their heads in the sand.

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