#1. Attract Young Buyers
Millenials are coming up in the workforce with increasing income and this young generation will be on the rise of becoming new home owners in 2016. In a recent report from Realtor.com, “Millennials are expected to make up the largest demographic of home buyers in 2016, having represented 30 percent of the existing home market, which is larger than baby boomers.” Also, “Gen Y has the largest share of first-time buyers at 68 percent.” As we all know, Millennials are a generation that grew up on the internet and technology at their finger tips, so it is imperative for real estate agents to market themselves through popular real estate apps such as Zillow, Trulia, and Realtor.com in order to attract these young buyers in 2016.
#2 Really KNOW your Buyer
It is predicted that 2016 will continue to be a buyer’s market, so agents need to get competitive and work hard to pitch the best deal. It is key that they really understand and get to know the buyers they are working with. Learn everything about their financial world, future goals, home needs and desires. Agents will need to take all of this into consideration in narrowing their search to deliver top results. By offering a specific and tailored home search for the buyer, the agent is decreasing their time per sale and able to sell more homes efficiently.
#3. Personalized & Creative Gifting
Post-Closing, it is really important to sustain a relationship with the client in order to gain repeat business and also to secure referrals. Gifting the new home owner is a great way to strengthen the relationship and show your appreciation for their business. Traditional gifts such as baskets or bottles of wine are often soon forgotten. A gift that is something relatable to their personal hobbies or favorites things to enjoy would be better, but to really get creative, a gift such as hand-made address stamps or stationary are not only thoughtful but personalized. The agent will continually be thought of each time the client uses the personalized gift and the agent could probably get some social media recognition from the client, because of the uniqueness of the gift and the client’s desire to tell their friends online.
#4 Odd Facts
Knowledge is power. In the real estate industry, knowing odd facts about your area can leverage sales. For instance, studies have shown that homes near a Starbucks coffee shop not only sell for more value than an identical home not located near a Starbucks, but also average a 30 percent larger increase in value over a 15-year period. Another odd fact is that homes on named streets tend to be 2 percent more valuable nationwide than numbered ones. Knowing your area and strange facts like these, will leverage as power when showing properties in 2016.
#5. Get Tech Savvy with Beacon Technology
Beacons are a low-cost piece of hardware, small enough to attach to a wall or countertop and are battery-friendly, low-energy Bluetooth connections that transmit messages directly to a smartphone or tablet by detecting your phone and sending you a message via an app. An example of this in the real estate world would be when buyers are driving through neighborhoods and they receive a detailed text message about available listings on a particular street. Once inside the home, during an open house, the beacon will alert the home buyer of added features and upgrades the home offers. By offering an app utilizing beacon technology, agents will experience greater success in the buying market.
#6. Friend of a Friend of a Friend
In today’s age people rely heavily on customer reviews and word of mouth referrals. People want to hear it from the source how the experience was rather respond to traditional advertising in selecting an agent or brokerage for buying or selling their home. More than half of a realtor’s business will come from referrals and word-of-mouth. The most effective way for agents to gain new business is through building strong relationships, consistent follow-up and via social media presence to increase their sphere of influence.