In this new market, real estate professionals need to rethink some of their prior customer service techniques to accommodate new trends, and restructure their marketing policies.
Home prices will likely bump along the bottom before a sustained upward trend arises. The recovery we’re witnessing isn’t Permanente and lower prices won’t be around indefinitely. Eventually unparalleled buyer’s market will pass, investors are going to be taking full advantage of this years market.
It is estimated that nearly 20 percent of homebuyers own two or more homes—a percentage that, prior to the downturn, was typically around 11 or 12 percent. The downturn has prompted people to think more about building long-term wealth and stability, and they’re realizing real estate is still a resilient choice. More and more everyday people are taking steps to secure one or two rental properties or an investment home.
The conditions in the U.S. housing market are no secret around the world, and it has drawn heavy interest from investors. International buyers purchased more than $82 billion in U.S. real estate. The average price they paid was $315,000 compared to $215,000 paid by native buyers.
Within this year, international and domestic investors are expected to push forward with the recovery, so it’s important to take immediate action to accommodate this key set of buyers. This may mean getting more training, or further Certifications. By keeping your eye on the pulse of the country as a whole and the influence of various groups on the real estate industry specifically, you’ll find your way no matter how the trends shift. It is important to know your environment and this trend of investment buying will be one that dominates 2012. As a professional in my field I know for my team this includes re-evaluation of marketing and customer service strategies in order accommodate what is sure to be the bulk of our customers in the upcoming months.