I've been working with realtors on marketing materials for the last 5 years. In these years, I've witnessed a swing in the real estate market that is rarely seen. Due to the pandemic, the rush of families moving out of the city caused a sellers market. In our area, homes sold for higher than asking price on average, and for good reason. Mortgage rates were at historic lows and home values in NY increased exponentially, causing a rush to buy in in the suburbs. Those that sold high were lucky. Those that bought then are faced with a dilemma if they choose to sell today, but that is not what the subject of this post is about.
In the years 2020 and 2021 and early 2022, homes were sold with very little marketing needed. Yes, we benefited from the pandemic because we offer a unique virtual tour product, but realtors that didn't embrace this technology realized that in a seller's market, they could simply initiate interest by a phone call and a description, or with poorly framed and badly lit smartphone images; that is simply not the case today.
Today's real estate market is testing the mettle of all realtors and will truly separate the wheat from the chaff. With mortgage rates on the rise and home values correcting, buyers need to be more savvy than they were just a short two years ago. This means that the urgency for quality marketing materials in order to elevate a listing above its competition is as critically important, (and we can argue) if not MORE important than timing, pricing and seller flexibility.
Right now, the urgency to spark interest in a listing is the first step to getting a signature on the dotted line. This doesn't mean pour MORE money into marketing, it means thinking and working smart. Realtors know how to sell, lenders know how to facilitate financing and photographers will always know how to present a subject in its best light. I always tell prospective clients; "let me do what I do best, so you can do what you do best." Yes, anyone can take a photo of a bathroom, but an artist can make it look appealing. Yes, a realtor with a smartphone can easily shoot a walk thru video of a home, but we will present the home with the proper captioning, music and editing to create attention. A realtor can make a highlight reel of photos, but we can create a fully immersive virtual tour; a digital twin, if you will of the property, that will actually allow the realtor to engage and interact with the viewer.
No, we can't replace a realtor, and we don't want to! But we can help a realtor to do their job more effectively, give their sellers the sense of security in knowing that their realtor is not just putting their best foot forward, they're also leveraging technology and using all tools at their disposal to get their property sold, to the highest bidder.
Now, more than ever realtors need to step up their efforts and we just want to help.