The next greatest opportunity
Real estate is poised for a boom as rates drop. Agents can win big by offering tailored, tech-savvy services like Move Concierge to meet evolving buyer needs.
In 2007 and 2008, the housing finance market seemed well on its way to grinding to a complete halt. During that time, real estate advisor guru Bill Dallas repeated a line of encouragement on his self-help recordings: "The greatest opportunity in home finance history is just right on the other side of this crisis."
The more things change, the more they stay the same.
Today's real estate market, as in Bill Dallas' day, is facing the greatest opportunity. The volume of real estate transactions will only increase once interest rates and home values begin to decline slowly, perhaps as early as the end of this year. Move Concierge is already seeing an uptick in potential homebuyers searching for our services. As more people return to the office, they require relocation services. This trend is set to continue for the foreseeable future.
How can real estate agents position themselves to capitalize on that success? The best preparation is getting ahead of the opportunity. Who will be looking to move, and what support will they need?
Our database indicates that a popular homebuying age is approximately 43 years old. That age is even among male and female buyers. A little over half are married, and most say they want to start a family.
We've mined our data to gain a deeper understanding of who is moving, discovering that 91% of movers are homeowners, not renters, and most are relocating to single-family properties.
Among recent movers, the average home value is about $358,000, according to our data, with most moving to cities or high-growth suburban areas, and the average tenure is just 2.6 years. Interestingly, only 10% of movers have children at home, suggesting that younger couples, singles and empty nesters comprise a generous portion of the mover demographic.
Predictably, a large chunk of homebuyers are top-tier internet users: 69%, according to our research. They are digital natives and very responsive to text messaging. Top-performing real estate agents understand the value of providing a smooth move, with plenty of options available for internet service providers, home warranties and smart home functionality.
Analyzing market data and database insights like these reveals the key characteristics, preferences and requirements of this demographic. This can allow agents to tailor their services to meet these specific needs of prospective clients, which will inevitably lead to greater success.
Adding Move Concierge services to an agent's offerings can provide a more comprehensive service package that addresses the complexities of both buying and selling. By working with Move Concierge, real estate agents can help their clients with everything from home security systems to cable installation, utility set-up, home warranties and more. By extending these services, agents can enhance their value proposition and deepen their client relationships, demonstrating that they are willing to go the extra mile for clients to ensure a smooth transition to a new home.
Diplomacy plays a crucial role in navigating real estate transactions, particularly during periods of change. Agents must effectively mediate and communicate between all parties involved to ensure smooth transactions. Providing personalized, in-house services builds trust and ensures quality, and offering choices is key. Providing clients a range of options and solutions allows them to feel more in control and satisfied. The ability to choose services that best fit their needs will attract and retain clients, driving success in the real estate market.