How to Connect with First Time Homebuyers in 2018

For the first time in over a decade, there seems to be an influx of first-time home buyers entering the marketplace. But is it more than just anecdotal? Are more first time buyers actually in a position to purchase, and if so, what does it mean for agents?

In 2017, more than 2 million new or existing homes were purchased by first-time homebuyers, according to the First-Time Homebuyer Market Report from Genworth Mortgage Insurance, an operating segment of Genworth Financial, Inc. The report, which measured data from the fourth quarter of 2017, revealed the number of homes purchased by first-time buyers increased nearly 7 percent from the same time in 2016, making last year the best for the first-time homebuyer market since 2006.

“The first-time homebuyer segment had one of its strongest years on record, and we expect it to continue growing in market share and driving the purchase market in 2018,” says Tian Liu, chief economist at Genworth Mortgage Insurance. “Since 2014, the segment has accounted for 82 percent of home purchases, but is still facing many headwinds.”

First-time homebuyers are a unique group — one  that has its own set of needs that you as an agent must be prepare to address and . That’s why we created the two-part training course, “How to Find the Perfect Home for Your Clients.”

The most common complaint that buyers will about their agents is that they were shown homes that did not fit their needs. Knowing how to find the right home for each client’s situation is a core skill that every buyer’s agent must possess.

Whether your client is a first-time homebuyer or an empty nester who is looking to downsize, you need to be prepared to understand the market — as well as how to set expectations, how to interpret the clues your client is giving you and how to eventually close the deal.

By guiding a first-time homebuyer through the sales process successfully, not only have you completed a sale and earned your commission, you may have landed a lifelong client.

Don’t miss your opportunity. Sign up for AgentEDU and learn how to find the perfect home for your clients.

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The Tech Every Real Estate Assistant Needs To Connect With Clients

How Real Estate Assistants Utilize Tech to Grow Business

It can be extremely difficult to find time to manage all the daily communications required to be a successful real estate agent. Technology has opened up new avenues of communication, and a good assistant can step in and help you stay connected with your clients in many ways.

  • Text messaging is growing in popularity among both salespeople and clients. According to an Ellie Mae survey of both consumers and sales professionals, 76 percent of respondents say they are confident in a text message’s potential to improve the buying experience by speeding up key processes. They also reported being just as comfortable texting with businesses they have a relationship with as they are with colleagues.
  • Meanwhile, 63 percent of all homebuyers surveyed in the National Association of Realtors’ 2018 Home Buyer and Seller Generational Trends report said it is important that agents send property information and communicate through text message. Unsurprisingly, younger generations are more likely to prefer this method: Sixty-nine percent of those ages 37 or younger consider it important, compared with 61 percent of those ages 38 to 51.
  • Even with the explosion of text usage between client and customer, email remains king. A recent survey by NAR found that 96 percent of its membership uses email either daily or nearly every day, making it the most used form of communication by Realtors

But many agents simply don’t have the time to dedicate to using these technologies to grow their business. Nor do they have the time to properly train an assistant.

That’s why AgentEDU has released a new Assistants track, with courses specifically designed to train an assistant in the technologies needed to support a successful agent. “How to Use Technology to Support Agent Success,” “A Real Estate Assistant’s Role in Social Media” and “Technology for Real Estate” are 10-minute videos designed to train an assistant on how to stay engaged with clients and contacts, organize tasks, manage your digital presence and more.

Don’t let another client slip through the cracks. AgentEDU’s new Assistants track will train your assistant in the skills needed to support your business on a daily basis.

Click here to explore the entire Assistants track at AgentEDU. 

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