There are very few industries that haven’t been affected by the internet, and the real estate market is no exception. The way people are buying and selling their homes has changed over the years. It’s not done changing, either, and the most successful real estate companies are the ones that are going to be able to keep up. So what’s changing in the real estate market? And how can buyers and sellers take advantage of these changes? Our Germantown flat-rate realty team has the answers you need.
How the Real Estate Market is Changing
People are more concerned about where they live than ever before.
The three most important factors in buying a property are location, location, and location. It’s been a saying in the real estate industry for decades, but it’s never been truer than it is in today’s market. Buyers are very conscious about where they want to live. The quality of the neighborhood matters more to today’s buyers; after all, you can fix up a house but it’s a lot harder to fix up the neighborhood. Buyers desire walkable neighborhoods that are close to their work and offer plenty of entertainment and dining opportunities. A lot of buyers are going to use the power of the internet to research their potential neighborhoods and will likely know more about it than a lot of the people who already live there.
The home search starts on the smartphone now.
In decades past, homeowners would often start their search for a home only after they contacted a real estate agent. They would have their list of must-haves and deal breakers and allow their broker to search for homes that fit the bill. That’s not how it works now; in fact, most buyers come to an agent only after they’ve looked at the housing market themselves and have a list of homes they want to see. That shift is due in large part to the internet. It’s easier than ever for people to access the MLS without the help of a broker agent. They can see all of the homes for sale in their budget, in their desired neighborhood, and in their price range without contacting an agent beforehand. And most of these searches are happening on their smartphones.
Marketing is more important than ever.
No longer can sellers depend on their agent alone to do the marketing of their home and get it in front of potential buyers. Marketing needs to be a full-service package and work for smartphone users. That means sellers must get their homes listed on the MLS right away as well as on the most popular home shopping sites. Photos of the property are more important in the marketing than ever, too. That’s because people aren’t waiting to pass judgment on a property once they’ve seen it in person; they are judging it based on the photos they see on their smartphones. Professional photography can help show the home off at it’s best and entice potential buyers to come see it in person.
People are getting into the housing market later in life.
Blame it on the rising cost of homes across the country or on the fact that it’s harder to get a loan when you don’t have a hefty 20% or more saved up for the deposit. Whatever the reasons, people are entering the housing market later in life, but they are still getting in there. What that means for the industry is that first-time homebuyers are going to be especially diligent about what they buy and how they spend their hard-earned deposits. They’ll be doing more research online and taking their time to make a decision. When they are ready, though, they’ll want to move quickly and need a real estate broker who can keep up with the speed required to secure the home they want.
Homebuyers want the help of a professional…
There was a big assumption in the past that today’s homebuyers didn’t want to enlist the help of a professional real estate broker. The assumption was that they would instead use the internet to do all of their research and facilitate the deal on their own behalf. Turns out that isn’t true, according to research that’s been done in the industry over the last year. Today’s homebuyers are using the services of a professional real estate agent more than ever. They might do their research online, but they still want the help of a pro to close the deal and help them ensure they are doing everything correctly. People are busy with work and family obligations; they don’t want to be a part-time real estate broker on top of it all.
…but they don’t want to pay too much for the service.
One of the biggest shifts in the industry is that homebuyers are savvier than ever. They are doing their research online, and that includes comparing agent fees and looking for the best deal. That’s led to more buyers and sellers to working with flat-rate realty companies. These companies often offer the same full-service that other traditional agencies offer, but at a fraction of the cost. Most agencies charge up to 6% of the sale price for their services, meaning that those selling their homes end up with less money from the sale when everything is done. When you need every dollar possible to climb up the property ladder, that can be a big chunk out of your profits. Choosing a flat-rate service allows them to keep more of their profits. This option is becoming more popular as people are doing their real estate research online and harnessing the power of comparing fees.
How Exsell Real Estate Experts is Shaping the Future of Real Estate
We’ve been in the real estate industry for a long time. We’ve seen how things are changing and wanted to be at the forefront of the modern real estate agency. Because of that, we did away with a lot of the tradional fees charged by agents and looked at a new way of doing things. That’s how we came up with our flat-rate realty company in Germantown. Working with our team allows you to harness the power of the MLS and internet marketing without paying too much for the service. We’re continuously innovating our services and ensuring that we’re meeting the needs of today’s buyers and sellers.
If you want to work with a real estate company that’s at the forefront of today’s market, then it’s time to get in touch with us. Call our team or contact us through our website to get started with one of our agents.