How To Stand Out in a Hot Market

The housing market was thrown for a loop in 2020 with dwindling inventory and booming demand for properties. As of April 2021, the median existing-home price in the U.S. was $341,600, a 19.1% gain year over year. Despite property prices skyrocketing, we are seeing more bidding wars and all-cash offers. This trend is continuing into 2021 as the market stays hot, inventory remains low, and homes sell at a neck-breaking pace.

1. Keep Your Client Top of Mind. As the saying goes, the client always comes first. Real estate agents exist to aid buyers in finding their perfect property and serve as the source of information about the ins and outs of the real estate market. Try looking at the entire process from the homebuyer’s point of view. What can you do to make this experience as memorable and uncomplicated as possible? With a decision as big as purchasing property, clients want to know they can trust you. Take time to learn about their lives, their interests, and, most importantly, what they are looking for in a home. Try to anticipate their needs as much as possible, and provide them with the type of experience you would want for yourself. Take care of your clients from start to finish and wrap up the process with a thoughtful closing gift. Not only does a good closing gift strengthen the relationship with your client, but it also could lead to referral business down the line.

2. Find Your Specialty. Finding your specialty in the real estate industry is all about what you enjoy. Do you prefer helping families find their forever home, or are you more excited about selling commercial properties? You can shift your specialty over time, but start by working in the area that most interests you. Work to establish yourself as the top agent in your field. Clients are continually looking for the “best of the best,” so make sure you take on that label with pride.

3. Network. The significant amount of agents’ success in real estate today relies on networking. “It’s all about who you know,” is an accurate statement. That sentiment should push you to continuously forge new connections. Networking not only expands your client base but can also help you meet other industry professionals such as builders, mortgage brokers, real estate investors, etc.

4. Utilize Social Media. Though social media rules the internet, we have become desensitized to a lot of its content. To find success on social media nowadays, real estate professionals need to create a variety of content that engages and excites clients. Set yourself apart from the masses by having fun with your posts, creating a memorable brand that communicates your core values, and taking advantage of the reach that social media offers. Not only does social media give you the ability to grow your brand awareness and connect with others in real estate, but you also get to build lasting relationships with clients and professionals in other industries.

Whether you’re just starting out or you’re a seasoned real estate agent, remember that the keys to career success are in your hands. By keeping the client top of mind, finding your specialty, networking, and utilizing social media, you’ll be better positioned to stand out and succeed in this hot housing market.

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.