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Homes under contract, closings, new listings and median prices posted gains in the first week of July, pointing to a housing market which is showing signs of a definite rebound.
Contracts soared 48 percent for the first week of July when compared to 2019 numbers. According to data provided by MRED, there were 4,327 contracts for the week of June 30-July 6, compared to just 2,922 the previous year.
- Closings increased 47 percent for the week when compared year over year, with 3,313 closings recorded for June 30-July 6.
- New listings increased nine percent for the first week of July when compared to the same period in 2019.
- Median prices increased five percent to $260,000, increasing from $247,250 as buyers returned to the market.
Learn more about the market each week with the Weekly Market Snapshot which looks at data from throughout MRED’s network. Find the report here.
- New listings entered into MRED’s connectMLS for the week of June 29 were off just three percent from 2019.
- Median prices for the week showed continued modest gains, posting a 1.2 percent increase over 2019 numbers.
- Open houses, a measure of consumer market interest, doubled over the course of the month.
Learn more in the Weekly market Snapshot, released each Tuesday by MRED. Find the report here.
Our goal is to make your job easier. Because of this, we’re excited to announce that we’ve upgraded your access to Remine from the Starter Plan to the Pro Plan as an included member benefit.
We’ve been working with Remine for a year and a half with fantastic results. During this time, Remine’s team has enacted countless updates to continually innovate and improve on their game-changing service. That’s exactly what we look for in partners to give you the tools that enable you to succeed.
Here’s what you can do with your upcoming increased Remine access:
- Find what you need with extensive property record information.
- Stay organized by tracking up to 10,000 properties (instead of just 100).
- Evaluate potential leads with access to the Buy Score.
- See when deeds and warranties are posted with enabled tracking.
- Access premium map-based search on AVMs, equity, absentee, flood, school, and neighborhoods.
- Use premium analytics within Client Engage.
Here’s what you can do next:
Questions? Contact the MRED Help Desk at 630-955-2755 or help.desk@MREDLLC.com
Now more than ever, home buyers want to be part of their home search process. They use the Internet to explore what’s happening in their local market. They expect their agent to be just as tech-savvy as they are and to collaborate with them within real estate mobile apps like Homesnap.
As a listing agent, you need to immerse a potential buyer into a home while they are doing their own browsing online, before they even step in it. As a buyer’s agent, you need to provide your clients a homesearch experience that is not only informative but engaging. This is where Homesnap can help!
1. A Search Experience Like No Other
When prospective buyers search for a home, they look for a platform that gives them accurate information and an immerses themselves into the property so they can imagine themselves living there. One of the first things prospective buyers will do is scan through the media associated with a home – the more eye-catching a property is, the more interested they’ll become. Those initial visuals grab the attention of that buyer and make them want to read more or even schedule a property visit.
Traditionally, the most common way a prospective buyer experiences a home is through photos. While photos are helpful, they have become the norm and may not accurately highlight a home’s best features. Buyers now want to see 3D tours, street views, virtual tours, and more. The good news is more and more agents are now incorporating these new media tactics into their marketing strategy for their listings.
Homesnap recognized this demand for an engaging consumer homesearch experience. They are focused on offering agents solutions that help them optimally promote their listings, and drive more leads to the true listing agent.These factors led to Homesnap’s Redesigned Media Listing Center.
Moving forward, when a user views a listing in the Homesnap app, the first thing they will see is all media associated with that listing. Consumers and agents will be able to not only view MLS Photos, but also any 3D or virtual tours available for that listing, the street view of the surrounding area of the property, a map with streamlined access to walk the property lines or get directions to the listing, and any stories the listing agent created. If they like what they see, the user can then simply scroll down to get further information about the property and connect with the agent they are branded to in Homesnap, or the actual listing agent if they aren’t working with an agent yet to discuss further!
2. Show, Tell, and Sell with Homesnap Stories
Of all the different tactics an agent can market their listing with, video is becoming the most popular due to its effectiveness and ability to bring listings to life and immerse a prospective buyer into the home before stepping foot in it. According to NAR, 73% of homeowners say they are more likely to list with a real estate agent who uses video. Additionally, viewers of video retain 95% of the content, compared to 10% when reading that same content through text. While video is a known powerful marketing tool, only 9% of agents incorporate video into their listings because traditionally it can be expensive, time-consuming, and difficult to create. With Homesnap’s newest feature – Homesnap Stories – this is changing.
For the first time ever, listing agents can create their own video marketing content in a way that’s free, fun, and easy. Agents can use Homesnap to create short video clips of their listings that highlight important features or facts about a home that can’t across in a photo, while connecting with potential buyers in a more personalized way. Stories can be created with personalized video, customizable photos, and even engaging augmented reality.
Every home has a story to tell. With Homesnap Stories, agents can be that storyteller to drive more interest in a property and sell it more quickly Potential buyers are able to get a better sense of the property right from their phone and narrow down the properties they want to focus on. If that potential buyer is already connected to an agent in Homesnap, that relationship will be maintained- meaning that buyer would still contact their connected agent to discuss the property.
While the creation of Stories is only available to listing agents currently, in the future Homesnap has plans to allow all agents to make their own Stories to create deeper connections with their clients and showcase their personal brand.
ShowingTime is a useful program in connectMLS that manages your showing appointments for you. For those who contribute to a team, you can avoid confusion and a potential Code of Ethics violation by making sure the correct name is on showing requests in ShowingTime.
The name that appears on requests is determined by the account you used to log in to connectMLS for that session. This may be your personal account or team account.
It is highly recommended that team members confirm they are using the desired account before accessing ShowingTime. You can do this by clicking on your profile photo at the top right of your My MLS homepage and selecting “Switch Account”. This ensures the listing agent is correctly informed of who will be showing the listing.
Questions? Contact the MRED Help Desk at 630-955-2755 or help.desk@MREDLLC.com
If you’re still taking the “spray and pray” approach to your lead generation efforts, stop. MRED now offers something way better.
Let’s face it: Mass marketing, shotgun marketing — whatever title you give it, you can’t call it a reliable strategy. Even if you’re lucky enough to score a usable lead from a 3,000-postcard campaign or a day of door knocking, they still aren’t time- or cost-effective methods.
That’s why hyperlocal targeting has become the standard in real estate marketing. That’s why focusing your limited resources on pursuing better leads is the only way to survive in an increasingly competitive market.
That’s why it’s the perfect time for Remine.
MRED is thrilled to launch this predictive analytics tool, a product that sorts through billions of data points and uses that information to highlight consumers who are likely to buy and sell. That means you’ll be spending less time chasing leads and more time closing them. And now you have this unprecedented opportunity at your fingertips in connectMLS. MRED is providing its subscribers with access to Remine’s starter plan, with upgrades available if you want to take your prospecting to the next level with additional tracking, filters, and discounts on purchasing contact information.
Take a closer look…
Ownership time: The majority of homeowners move every 7-12 years. Visualize this data on Remine’s interactive map to see where future housing inventory and buyers might be coming from.
Last sale price: See trends of how much homes have sold for in your target markets.
Sell score: Remine uses property data to predict the amount of time remaining before a listing is put on the market. This information is broken down in categories ranging from 0-6 months to more than 2 years.
Home equity: This filter is available in upgraded plans and allows you to see consumers who have enough equity in their home to put their property on the market. Use this filter to better target homes for door knocking, cold calling, and email campaigns.
Consumer contact information: Once Remine helps you identify consumers who will need your services, you have the option to purchase household contact information a la carte.
So are you ready to pursue real leads? Are you ready to find opportunities that can actually turn into revenue? Are you ready to Remine? You can start here in connectMLS and click on Remine in the tools section. Want some more tips before you get going? Take advantage of the training options below.
Register for live Remine webinars below. These one-hour sessions will give you a walkthrough of the property intelligence platform as you learn how to best utilize its many tools.
Wednesday June 6 – 11:00 AM, Click here to register
Thursday June 7 – 6:00 PM, Click here to register
Tuesday, June 12 – 2:00 PM, Click here to register
Thursday, June 14 – 1:00 PM, Click here to register
Click here and select “Remine” or “Remine Online” under “Course” to register for MRED training.
For any additional help, you can chat with Remine’s support team by clicking the blue and white button on the bottom right of the screen when using Remine. And you can always contact MRED’s help desk by calling 630-955-2755 or sending us an email.