We’ve seen record sales throughout the past two years as rates reached all-time lows and prices hit all-time highs. Many real estate and financial professionals had more business than they could handle and had to bring on new team members to handle the load. Now, as prices remain hot and mortgage rates are beginning to rise to combat inflation, business is probably cooling off. In a market like this, it’s important for these same professionals to adapt and adjust their strategies to keep business coming in. This time last year, the focus was on refi’s as rates were at all-time lows and strategies were focused on advertising to existing homeowners that would be interested in a lower rate. Now, focus is shifting back toward purchase loans and refi’s are in the rearview mirror.
Real Estate Investors Account for a Growing Market Share
Much of the coverage of these sales tell the story of prospective buyers entering into bidding wars for single-family homes, but last year saw the most investor sales in decades. In fact, according to data by Redfin, nearly one in seven homes sold in major metropolitan areas were purchased by investors and this only ramped up as the year went on. As the year progressed into the third quarter, investors had purchased 18 percent of homes across the country. By the end of the fourth quarter, that share had increased to 18.4 percent.
The path to homeownership, especially for first-time buyers, has been incredibly difficult for the past two years and it’s only getting harder. Rising interest rates coupled with a still-too-low housing supply and still-too-high prices means homeownership for many families is quickly moving out of their reach, at least for now. To stay on top of today’s fast-paced market real estate professionals need to be focusing their attention on adaptive strategies. That means discussing the value of buying a home even in today’s market to first-time buyers, seeking out families that may be in need of an upgrade (or downgrade), and targeting investors.
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The most crucial step in any marketing strategy is prospecting. The best strategy in the world will always fall flat if it’s targeted to an audience that isn’t interested in the service it offers. Perhaps the easiest and most efficient method of prospecting is purchasing a targeted marketing list and that’s where we have you covered. Marketing lists powered by The Warren Group provide today’s most accurate and detailed real estate and transaction data available. Access current data on new homeowners, pre-foreclosure lists, bank owned properties, bankruptcy filings, commercial property lists, and a lot more. If you’re ready to step up your game and stay ahead of the curve, reach out to one of our data specialists today and ask about our different marketing list subscription types and what will work best for you.