3 Reasons Your Norman Realtor Needs to Know Industry Trends

Realty Industry Trends

When it’s time to sell your Norman home, you might be uncertain about your next steps. Luckily, the right realtor can offer you valuable insights. Namely, the most important trends in the industry.

Things are changing fast in every industry, and real estate is no exception. Now, people peruse homes on Zillow or Realtor.com. First-time home buyers are opting for less square-footage, and everyone is moving out away from the city for more space, even if it requires a long drive to work.

Your realtor should know not just the nationwide trends, but also trends like whether or not the location is in a buyer’s or seller’s market.

 

1. The realtor provides coaching on how to market your home based on current trends.

Who is most likely to be interested in your home, and where do they prefer to receive their information? Your Norman realtor should be able to answer these questions. If a young first-time home buyer is the target market for your home, then they may opt for marketing on social media, hosting a few Facebook Live tours and making sure it is on one or more online listing platforms.

What features should you highlight in the listing? Different buyer segments will have different preferences on what features are the most important. Mature buyers might be looking for privacy, quiet neighborhoods and maybe easy accessibility.

Young or new buyers might be looking for nearby amenities like schools, grocery stores or major highways. Your Realtor can help you identify the target market, and then guide you through the process of providing the best information to prospective buyers.

If your target buyer isn’t on social media, but you invest all your time and effort on the platform, then you might be disappointed with the results and vice versa.

Other insights your realtor should be able to provide for national or local trends (or both) are the average buyer’s age and the type of buyer (e.g.first-time buyers).

2. Trends make you a better negotiator.

A trendy location or home style will make your home more appealing to more people. A realtor should know these preferences for the area. They should also be able to tell you if you are in a buyer’s or seller’s market.

You will have to adapt your expectations and negotiation style depending on the current market trends. Maybe you can have a hard minimum with no extra work needed before moving in, or vice versa, you might need to go into the meeting flexible and willing to complete minor renovations and cover the closing costs.

There are a few trends your realtor should be able to tell you about such as:

  • Average days on market.

  • The number of homes on the market.

  • The area’s average home value.

  • How your home compares to other homes in the same zip code or on the same street.

  • They could also provide you with a Comparative Market Analysis.

 

3. They can guide you toward the best home renovations with a valuable ROI

When it is time to sell, you might think you need to paint every bedroom, put on a new roof and hire a landscaper. This isn’t necessarily the case. Some renovations are much more valuable to home buyers than others and it all depends on the current trends.

Since your realtor is often working with homebuyers and home sellers alike, they probably have a good feel for the current trends. Maybe you need to complete a kitchen remodel or install a new bathroom vanity. Either way, your realtor needs to know the industry trends so they can give you the best advice as you work your way through the home selling process.

Are you ready to sell a home? The next step is calling Rieger Realty at 405.310.2796  to layout your game plan.