Tough times in the real estate market have given way to some creative strategies to keep business going. Although sales may be harder to come by, some of the resourceful new ways that real estate licensees are doing business are really making a difference.
These days it takes more than mowing the front lawn and posting a sign out front of a house to get it sold. Home staging has become increasingly popular to give properties the edge over other available homes in the area. Removing all of the clutter and keeping the décor neutral and warm so that buyers can easily envision themselves in the home. With so many homes for sale on the market, home staging has become more of a necessity than just a tool.
The explosion of new technology in the last few years has been unbelievable. These days there is so much more than having a website. Social networking sites can get listed properties seen by thousands of people in just an instant. Virtual tours of properties allow potential buyers to view properties from anywhere they have an internet connection. There are even applications for Smartphone’s called QR that allows you to find out all of the pertinent information on a property using your phone to read a sort of barcode for the property.
The difficulty locating financing since the mortgage lending guidelines have gotten stricter is a problem for both buyers and real estate agents. Due to these new restrictions, some agents have uncovered lesser known state and federal programs to assist potential homebuyers. Programs like the federal Neighborhood Stabilization Program that can assist with closing costs on homes in communities with more foreclosures or the Guaranteed Rural Housing program that allows lower income homebuyers to purchase with little or no money down and closing cost assistance is approved areas are financing jewels that have been largely overlooked.
For the sellers struggling to get out from under their homes, renting the home out has become an increasingly popular way to circumvent the problem of a home they cannot sell for the price that they are looking for. Not only does is solve the sellers issue by generating a positive cash flow from the property, it is building a greater need for real estate property managers to maintain the property, generating new avenues of business.
When the going gets tough, the successful agents get creative. By developing new strategies to build business through the tough times, the most successful real estate agents will thrive.
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About Geoff Thompson — Geoff Thompson is an Owner and Founding Partner of Express Schools, LLC. which operates online education providers Real Estate Express, Insurance License Express and License Tutor. Follow him on Twitter.