Monthly Archives: March 2009

One in Five Americans Plan to Buy a Home

Posted on March 29, 2009 by | Leave a comment

By: Leslie Williamson

As stated in the Fox Business article “one in five Americans plan to buy a home despite economic conditions” and 50% of these buyers will be first time home buyers.  In Atlanta, we certainly have the inventory to offer these buyers.  As sellers, we need to make the inventory palatable for these buyers to take action now and, as agents, we need to be equipped with the tools to overcome current buying objectives.

What makes the inventory palatable? In a recent market sentiment survey by Metrostudy, 56% of the builders surveyed stated that reduced pricing on inventory was the most effective incentive.

 As agents, we need to understand all competitive pricing, as well as acknowledge that today’s buyers are now paying closer attention to home values and have researched their buying decisions for several months prior to actually contacting an agent.  Agents need to be able to verbalize and illustrate to the buyers that now is the best time purchase. Coldwell Banker NRT Development Advisors has taken initiatives to educate their agents on the following:

 -       First Time Homebuyers Tax Incentive

-       Knowledge of the competition

-       Up-to-date financing information

-       Establishing a relationship with the buyer

Because of their knowledge of the above,Coldwell Banker NRT Development Advisors agents have been able to provide a viable selling proposition to successfully close sales.

 Per Move, Inc. CEO Steve Berkowitz, ‘It’s not all doom and gloom.  We found Americans are optimistic about homeownership despite concerns.”

 

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Posted in First-time homebuyer, Real Estate, Sales and Marketing

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Back to the marketing basics

Posted on March 17, 2009 by | Leave a comment

By: Christine Macrenaris

No matter how you slice and dice it – driving leads takes more effort in this down market. Ironically, this is also the time when marketing dollars are slashed when needed more than ever!

Henry Ford once said, “A man who stops advertising to save money, is like a man who stops a clock to save time.”

From a marketing perspective, what can we recommend?   Traditional ways of bringing in traffic are no longer working, so we have to go back to the basics and making sure our 4 P’s are in place and operating properly:

  • Price - Are we at a price where the market sees value? The answer is “no” if you keep seeing 3 pieces of traffic a week.
  • Product - Do you have the right amenities and finishes to support your price?
  • Promotion - Are you doing everything possible to make purchasers aware of your incentives and pricing in place? In order to achieve this, you may have to spend money promoting your product.  Also, are you taking advantage of all the social media and online options such as a Google cost-per-click campaign and Facebook? If not, you need to get on board because 85% of purchasers use the Internet when purchasing a home.
  • People - Are agents trained and knowledgeable about the benefits of the current stimulus package and how to engage the prospect?

And one final missing piece which technically could be a “P” for “pain” is Lending. Just when we see in increase in traffic to our sites, lender programs go away. We need to be a step ahead and now what options are available for buyers from the Stimulus package to local city Grants.

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Posted in Real Estate, Sales and Marketing

Everyone Needs Inspiration!

Posted on March 13, 2009 by | Leave a comment

By: Leslie Williamson

Everyone needs a little inspiration! Last night I attended the Atlanta Sales and Marketing Council’s monthly meeting featuring Charles J. Clark III.   He reminded us all in the sales arena that we need to get back to basics and ask his trademarked question at the end of the pitch “What do you think about going ahead with this today?”

Of course we are all afraid of rejection, but we will never know the answer if we do not ask! What do we really have to lose?  We might even get the chance to close on a sale.  Right now in times when the headlines are doom and gloom, I encourage everyone to get rejuvenated  by attending education classes, seminars, etc and get a little inspiration – it goes a long way.

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Posted in Real Estate, Sales and Marketing

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There’s never a second chance to be a first-time homebuyer

Posted on March 10, 2009 by | 2 Comments

By: Leslie Williamson

There are many firsts in life that I wouldn’t care to do over again – my first day of school, my first date or my first job interview.

But I would love to be in the process of buying my first home all over again.

I wish I had the same opportunities that first-time homebuyers do now.  Prices on new homes – including single family, condos and townhomes – have been discounted and interest rates are at an all time historical low. Developers and home builders are pushing the $8,000 first-time home buyer stimulus as well as offering alternative incentives to entice contracts.  Many of our developer clients are offering stimulus packages that include FHA financing, alternative financing choices, buy-down interest rates, buyer bonuses, and paid closing costs.

And there seem to be plenty of first-time homebuyers taking advantage of these opportunities.  The auction of condos at The Element illustrated that there are first time home buyers in the market.  In fact, CNN’s lead story today talked about the great opportunities for first-time homebuyers and focused one homebuyer who went to an auction planning to purchase a home for his family.  As he told the CNN reporter, “I just have a feeling that in six to nine months, we’re going to start to see a resurgence in the market. So, I think now is the time for us to get into it, if we can.”

This is a great opportunity for the first time home buyer to get off the fence and take advantage of a real estate opportunity that will not get any better.  I just wish I could be one of them.

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Posted in Auction, FHA financing, First-time homebuyer

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