Helping home buyers and sellers with their real estate has been quite the wild ride the past two years. Make sure you’re up to date with what the market has in store for 2022 and what it means for you as a Realtor.
The word competition is nothing new to real estate agents. Any agent who has helped someone buy a home lately knows the work it takes to not only find a home, but get an offer accepted. You’re probably wondering if this will change moving forward.
For those helping home buyers, it won’t be an ideal market. There is expected to be a slight upswing in homes available for purchase as well as a 5% increase in new home builds now that supply chain issues are easing. What does this mean for your clients?
It means preparation will be key. Your clients will need to be prepared to make an offer and be ready for a bidding war. Churchill Mortgage has a couple programs that can make a difference in this red-hot market.
Certified Home Buyer: Becoming a Churchill Certified Home Buyer will position your client almost as a cash buyer. This is better than any pre-approval out there, and helps the seller know your buyers mean business.
Rate Secured: This program lets your client cap their interest rate for 90 days while you help them find their dream home. If they don’t find a home to purchase in the first 90 days, they can reset their rate for an additional 90-day period. This gives you peace of mind as their Realtor that they don’t have to worry about their interest rate going up as you help them find a home in such a competitive market.
Millennials and Home Buying
Real estate agents will see an influx in millennial home buyers in 2022, many of them purchasing a home for the first time. As rent costs skyrocket, people are hoping to build equity with that money. This is a plus for Realtors working in the suburban market, as many millennials are working remote and have more flexibility in where they choose to buy now that they don’t have to factor in a commute.
Did you know?: With homes expecting to appreciate at a rate of over 7% (per Fannie Mae) and listing and selling prices set to increase by 5% to 6%, Realtors working with sellers are in a great position for continued success even with a more moderate growth pace than last year’s increase of 18%.
As you prepare to help your clients buy or sell, we want to help. Here are some tips to keep clients happy in a limited availability real estate market.
- Keep clients updated: Use multi-channel marketing to educate your clients on the 2022 housing market. Letting them know what to expect and giving them easy to consume tips and tricks will help you stand out from the crowd.
- Be honest: Make sure your buyers know the truth about finding a home. If they are set on living in a certain area where there haven’t been home sales, be forthright about difficulties they may face.
- Help clients plan: If buyers are having a hard time finding a home, help them expand their idea of the “perfect” home. Ask clients to be open-minded and then come up with creative solutions for the areas of their list that aren’t being checked off. Whether it’s expanding the area they’re willing to live in or giving up yard space for that extra bedroom, see where they have wiggle room and then find the best possibilities.
- Become a referral magnet: Make sure you’re using all your resources to draw in referrals. From social media to testimonials, do everything you can to have past clients help you grow your network of prospective clients.
- Keep yourself educated: There are so many ways to stay at the top of your game as a Realtor. Blogs, podcasts, and conferences are just a few ways to continuing learning about your career and to stay in touch with mentors who share your passion for helping others.
Churchill Mortgage doesn’t just offer programs to help home buyers get financed. We also partner with Realtors who want to make a difference in the lives of their clients. If you’re looking to give your buyers the best chance possible when buying a home in 2022, connect with us!
Source: Experts Predict What The Housing Market Will Look Like In 2022 (forbes.com)
