February 14, 2014 7:33 am
February 13, 2014 7:27 am
Expanding into the seniors real estate niche: Good business sense for teams
More and more real estate teams – both small and large – are beginning to consider the idea of expanding into the seniors real estate market. Unlike most solo-agents, teams typically have administrative support, consistent marketing campaigns, established branding, and diversity within their team members. This foundational structure can potentially provide the basis for a highly successful seniors real estate division when approached correctly.
What exactly does “correctly” look like?
Naturally, what I am about to share is a matter of opinion and certainly open to scrutiny, however, as a seniors real estate professional, coach, broker, manager, and trainer, I have seen a lot of agents over the past 20 years attempt to master the mature market (75+ segment) and have observed certain key elements that have ultimately lead to either extreme successes or failures.
So, before you hastily rush to post comments to counter any of the points I share below, remember that there are exceptions to every rule and that everyone has a different definition of success. Mine is only one, and since this happens to be my blog post, here goes.
A definition of “success” as it relates to teams serving the seniors real estate market.
Successful seniors real estate teams are those who:
February 12, 2014 7:27 am
We have previously talked about the diminishing supply of housing inventory and how it is impacting the real estate market. The situation might be about to change dramatically according to a recent survey by Lending Tree.
The survey revealed three interesting findings. Of those surveyed:
- 63% have a positive outlook on the economy this year
- 69% have a positive outlook on housing this year
- 71% said they are considering selling their home this year
While the first two findings are good news, the third was rather amazing.
February 11, 2014 7:24 am
Last month, the Federal Reserve, in a unanimous vote, decided to further decrease its bond purchasing. The bond purchases were the government’s stimulus package created to keep long term mortgage interest rates artificially low in order to help drive the housing market. Most experts believe that tapering will cause interest rates to increase as we move through the year.
Interest rates have remained relatively stable since the onset of the tapering in December. This is probably because the first round of increases had already been ‘priced into’ the equation last summer when rates skyrocketed by over a full percentage point just on the speculation that tapering would take place later in 2013.
February 10, 2014 7:24 am
There has been much speculation about what is causing the falling sales numbers in the most recent Existing Home Sales Reports
(EHS) from the National Association of Realtors
(NAR). Some have claimed that rising interest rates have scared buyers out of the market. Others have claimed that consumers are just losing confidence in the housing recovery fearing a new bubble may be forming. We want to look at the validity of these two assumptions.
MORTGAGE INTEREST RATES
Rising interest rates have forced buyers back onto the fence. Evidence offered up by those in this camp comes directly from the EHS Report from NAR. Three of the last four reports revealed that sales were below sales from the same month the previous year.
Though it is true year-over-year sales have fallen nationally, a closer look at the report reveals major regional differences. Sales in the West Region are down 10.7% versus the same month last year. Sales in the Midwest Region are also down but by less than 1%. The Northeast Region is up
3.2% and the Southern Region is up
If the issue is interest rates, why is one region virtually unchanged and two of the remaining three regions up in sales? We don’t believe rates are the challenge.