Encouraging Buyers and Sellers in Changing Housing Markets
One of the challenges for a real estate agent or a real estate agency lies in encouraging both buyers and sellers as the markets change. The volatility that the market has seen in the last decade has a tendency to heavily weight the market in favor of either buyers and sellers, but real estate agents need to encourage both parties. Clever and marketable real estate website content is one method by which a real estate company may be able to promote the benefits for both parties while downplaying any potential drawbacks.
Approaching Low Inventory, High Housing Price Markets
Many real estate areas, such as California, are currently experiencing periods of low inventory which are causing housing prices to rise. Some regions of California have experienced rising home values of over 20 percent in the past year alone, as reported by San Jose Mercury News. This type of tremendous real estate increase is usually better for sellers than buyers. The high demand and low inventory of the homes means that sellers can sell their homes at inflated prices due to current market conditions. Buyers entering this market need to be encouraged to purchase homes despite the rising housing prices as well as rising mortgage interest. Real estate website content can emphasize that housing prices are expected to continue rising, therefore making it a stable investment. Agency content can also emphasize the fact that home buyers who wait may end up being unable to afford these higher priced homes, thereby creating a sense of urgency.
Approaching Down, Low Value Markets
The best example of a down market is Detroit. Some homes in the Detroit metro area have lost over 90 percent of their value, and homes are routinely selling for as low as $500. New York Daily News noted some homes selling for only $1. This change in real estate value occurred very suddenly. Encouraging both sellers and buyers in these types of markets can be a challenge, but the right type of content can highlight the opportunity inherent in these types of markets. Sellers in Detroit may wish to hold on to their property until the market rebounds, but they can be discouraged from doing so by mentioning the extraordinary property taxes that they are still paying and the fact that the market could potentially never rebound. Buyers may not wish to enter into such a depressed market, but they can be encouraged to do so by mentioning the amount of money they could potentially make once the market returns to its former glory, and the small amount of money necessary to invest. In this way, both parties can be encouraged to take action.
Approaching Buying and Selling in Moderate Markets
Most real estate markets don’t fit the format for either of these scenarios. They aren’t incredibly depressed such as Detroit, and they aren’t rising incredibly fast like California. However, they still require the same type of real estate website content tactics. These tactics need to both emphasize the urgency of selling property while buyers are available as well as buying property while the market is still affordable and liquid.
Jenna I is a freelance writer available on WriterAccess, a marketplace where clients and expert writers connect for assignments.