Top 5 smart upgrades that sell homes

The Essential Real Estate Toolkit

We’ve been hearing from a lot of you that there are fewer deals happening in your market, and there’s definitely some uneasiness about the future. We get it. But remember, the market is cyclical. As agents, there are tools we can use to make sure that we are doing the best we can to get good clients.

We have an amazing resource available for everybody for FREE. It’s our 35-page Essential Real Estate Toolkit. It covers 20 topics that we think are crucial to succeeding in real estate.

To receive this kit, just refer ONE subscriber to this email (they have to subscribe), and it will be in your inbox. Click the share link below and enjoy our toolkit! (Also, if you refer 15 people, we will hop on a 10-minute Zoom with you, and you can ask us anything you want!)

- James and David

Market correction is losing steam

We're coming out of the market correction, and housing experts are changing their market predictions. This follows the economic uncertainty caused by last month's bank collapses and high inflation rates.

Here are the revised market forecasts from 4 major research firms:

• CoreLogic: Home prices will rise 3% between January 2023 to January 2024, reaching June 2022's peak price levels.

• Zillow: Home values will climb 1% between February 2023 and February 2024.

• Fannie Mae: Home prices will fall 4.2% in 2023 and another 2.3% in 2024.

• Goldman Sachs: Home values will drop 2.6% in 2023.

Our take

The reason we are sharing these predictions is just to show that nobody knows which direction the market will go. If we wanted to be optimistic, which we always are, we love that a couple of these are saying prices will go up. We’ve been telling our team how important it is to be a hyper-local expert at times like this. And not just in your city, but in your surrounding zip codes as well! Understand what buyers and sellers are doing and how you can position yourself as the go-to resource for your community.

Opendoor increases agent incentives

In an effort to attract more agents, Opendoor expanded its Agent Access program this week to include buyers' agents. The company also implemented a referral program and temporarily increased commissions.

Here are the key changes:

• The Agent Access loyalty program and bonuses are now available to agents representing both buyers and sellers.

• Agents will earn a 1% commission for referring clients who complete transactions in any of Opendoor's markets nationwide.

• New agents will earn 3% commissions on their first three transactions, instead of the usual 1%.

Our take

It’s clear that iBuying platforms are going to keep figuring out new ways to incentivize agents, and a 1% commission is crazy, regardless. We think it’s best to work for a team, where you can learn from other people in the office! You can’t replace the insight that you learn from the field. At the end of the day, iBuying and tech aren’t going anywhere, so we’ll see how this plays out for the industry.

Top 5 upgrades that help sell homes

Zillow released a report of the top home features and upgrades that help homes sell faster and for more money.

Here are the top 5 features that increase a home's selling price:

1. Steam oven (+5.3%)

2. Pizza oven (+3.7%)

3. Professional appliances (+3.6%)

4. Terrazzo (+2.6%)

5. She shed (+2.5%)

And the top 5 features that help homes sell faster, by listing days saved:

1. Doorbell camera (5.1)

2. Soapstone (3.8)

3. Open shelving (3.5)

4. Heat pump (3.0)

5. Fenced (back)yard (2.9)

Our take

Make note of these lists!!! If you’re working with a seller, definitely consider the information here. This is such a great opportunity for you to show up to a listing presentation with knowledge in your back pocket. Look at the inventory in your area, and make sure this applies to your market. We’re definitely on board with a lot of this and think it’s awesome that there is data to back it up.

Schematics

The news that just missed the cut

• This is a masterclass in home tour videos

• Watch this amazing listing video hook

• Why home prices in the Hamptons took a rare dip

• Tech billionaire Michael Dell quietly got into real estate

• 4 mistakes agents make with reels

Foundation Plans

Advice from James and David to win the day

On a recent episode of our podcast Rise Above the Ranks, we talked about the importance of quality content and a strong social media presence in growing a real estate career. We believe it's essential to build a social media following, and BAM has put together some amazing tips on boosting your Instagram engagement and lead generation.

Here are three ways you can generate more leads with Instagram:

• Make a good first impression. People prefer to follow accounts with consistent branding and good images because they feel a better connection to them. This includes photos of you and your listings, with clear topics for each post and a well-written bio.

• Ensure that your profile appears in searches. The best Instagram profile is the one potential clients can actually find! Help people find you easily by adding your name, your city, and either "real estate" or "realtor" to your username or display name.

• Build an email list. Instagram is incredible for marketing and lead generation, but don't completely rely on a third-party platform. Use your Instagram following to build an email list of your own so that if Instagram is ever banned or deleted, you don't lose followers!

Want to learn more about generating leads on Instagram and building an email list? Click to read the article.

Just in Case

Keep the latest industry data in your back pocket with today’s mortgage rates:

That’s it for this edition of The Blueprint!

Don’t forget to click the link above to share The Blueprint and receive your Essential Real Estate Toolkit. Just refer ONE person to The Blueprint using your unique share link (above), and we'll deliver the toolkit straight to your inbox!

Have a great weekend, and we’ll see you on Tuesday!

- James and David