Happy New Year All!
Well here we are 2017! What will this year hold for the new year?
Okay so we don't have a crystal ball but after being in this business for decades some things do come to mind. The Real Estate Business as we knew it two, five, ten or twenty years ago certainly has changed - all businesses have undergone their changes, some did not weather well, others excelled. We will excel because we are Real Estate Professionals. We are flexible, we continue to move forward. Whether an Agent, Broker, Mortgage Officer or Attorney - we have seen the best of times and the worst of times and yet we still pursue our careers and our livelihood.
2016 saw an improved real estate market in most areas of our country. Limited Inventory was a prime factor - supply and demand - encourages those to proceed in the direction of their dreams and goals - I believe 2017 will be a grand year for real estate Buyers and especially Sellers. Why?
Being on the tail end of the "BABY BOOMER ERA" myself, I see my Clients, Family and Peers looking towards making a move - some have large homes, too big for their new empty nest households, others see financial challenges or maybe mobility issues in the future and now is the time to make a decision before someone else is in charge of that, many who worked hard all their lives for their family feel it is now "Me Time" and time for that home by the ocean, the luxury condo or a smaller more manageable home to allow for travel, other hobbies and interests going forward.
Their moves will move some of our condo inventory, now with equity growing again in our homes these buyers may be able to purchase with cash or conventional financing some of the condos which have not been seen on the FHA approved list. This of course will give the NEW BUYERS the opportunity to make a move or move up and again the domino train moves forward.
Technology is changing every day, but as it changes - competition also increases for the real estate professionals' dollars so I believe we will see more competitive advertising vehicles to use. Real Estate Professionals are really becoming so proficient (if they want to continue in this career) with technology - competitive agents must be mobile agents using tools such as electronic signatures, texting, social media, blogging along with what has become the norm of laptops, ipads, cell phones and electronic advertising. Why do I say this because as the Real Estate Professional expand their "tech savy" they are developing their own websites, their own tools to capture leads from the internet, creating individualized websites for their listings and creative ways to attract new Clients. I see seasoned agents buying less and less of the leads on their own listings and instead creating a presence on line using their own talents. I do believe there will always be agents who believe the canned internet leads are an easier route to travel (and a much more costly one).
My last comment on 2017 is I believe we will see many more Independent Real Estate Firms opening. 2017 and the new tax laws proposed - especially for small business - should increase the profit margain for the Independent Firms creating more interest in branding your own name/company outside of giving exposure to the larger companies.
Again only my humble opinions on what we shall experience in 2017.
The items in our business which will never change but truly remain constant:
Value your Clients, they deserve your attention to detail.
Keep in mind the Golden Rule in ALL your business transactions and interactions.
Location, Location, Location.
The VERY BEST advertising is WORD OF MOUTH from your satisfied Clients - they will increase your business EXPONENTIALLY!
I look forward to hearing your personal predictions and wish you all a Very Grand 2017!