WELCOME TO The REAL ESTATE REPORT
How Real Estate Agents Can Master the Lead Nurturing Basics
MARK MATHIS | June 3, 2021
Tabarak Group established in 1979 Through Al Nahda Company for Contracting. The Group established in order to cater market needs in various sectors such as investment, real estate development and
Article | May 27, 2021
You may have heard the often-cited National Association of REALTORS® (NAR) statistic that 90% of homeowners would use their real estate agent again, but only 12% actually do. What you may not know is the reason behind it.
According to Chris Stuart, president of PLACE, Inc., the real estate industry spends more on customer acquisition than any other industry but doesn’t invest the same amount in customer retention. The numbers back him up, with companies like Southwest and Marriott spending less than 3% of their marketing budget on customer acquisition, while the real estate industry spends a whopping 20% of its marketing dollars to add customers, only to lose them as they leave the closing table.
Of course, retention in real estate is made more difficult by the fact that the average time between real estate transactions is five to seven years, not just a few weeks or months as it would be for retail or travel companies.
Looking at other industries that focus more on customer retention, they do so not by offering a host of random services, but by creating a customer experience that brings people back over and over. With that in mind, here is a tactical approach that will allow you to prove your value month after month—for years to come.
The whole of the real estate sector has definitely changed, going through a thorough digitalization first, then moving into far more technologically advanced features, like hyper targeting and, recently, data-oriented features. Is data, therefore, the new trend for the real estate sector? Let's find it out in this guide for the real estate professional who's looking to add a powerful and useful technological flair to his/her business. Data may be perceived by a lot of people as an extremely complicated matter but, in the end, it isn't really. Data within the real estate sector can be covered from 2 precise points: processing and acquisition. With data processing, we intend the data which is used for automation, marketing, audiences targeting and similar. This data is the one which is generated via cookies on websites, by online surveys and so on. This form of data is used, also, for risk management when approving mortgages or other forms of loans and it's the more technical part of what's known as the modern "credit score". Companies like Paypal, Amazon and similar are using this very data for these purposes.
Unlike last year, the residential real estate market kicked off 2020 with a bang! In their latest Monthly Mortgage Monitor, Black Knight proclaimed. The housing market is heating entering 2020 and recent rate declines could continue that trend, a sharp contrast to the strong cooling that was seen at this same time last year. Zillow revealed they’re also seeing a robust beginning to the year. Jeff Tucker, Zillow Economist, said. Our first look at 2020 data suggests that we could see the most competitive home shopping season in years, as buyers are already competing over…homes for sale. Buying demand is very strong. The latest Showing Index from ShowingTime reported a 20.2% year-over-year increase in purchaser traffic across the country, the sixth consecutive month of nationwide growth, and the largest increase in the history of the index. The even better news is that buyers are not just looking. The latest Existing Home Sales Report from the National Association of Realtors (NAR) showed that closed sales increased 9.6% from a year ago. This increase in overall activity has caused Zelman & Associates to increase their projection for home price appreciation in 2020 from 3.7% to 4.7%.
Almost everything right now is shifting to a virtual format. One of the big changes we’re adapting to is the revisions to the common real estate transaction, which all vary by state and locality. Technology, however, is making it possible for many of us to continue on the quest for homeownership, an essential need for all. Here’s a look at some of the elements of the process that are changing (at least in the near-term), due to stay-at-home orders and social distancing, and what you may need to know about each one if you’re thinking of buying or selling a home sooner rather than later.
Keep me plugged in with the best
Join thousands of your peers and receive our weekly newsletter with the latest news, industry events, customer insights, and market intelligence.
Put your news, events, company, and promotional content in front of thousands of your peers and potential customers.
Not a member yet? Not a problem, Sign Up
Sign up to contribute and publish your news, events, brand, and content with the community for FREE