We may still have snow on the ground in Metro-Detroit, but warm weather is (hopefully) right around the corner! With the change in weather comes the best time of year for real estate agents: The Spring Market.
Springtime has long been the most active season for real estate across the country, and this year shows signs of another busy season to come. So what can you expect for your real estate business in the coming months?
Experts predict another year of price increases, but the price hike is likely to be smaller and slower than in the past two years. Inventory still remains low, which means buyers are having to compete for the best homes. The most recent Greater Metropolitan Association of Realtors (GMAR) report shows a 14.5% inventory decrease since last year’s already low listing numbers.
Even with heavy competition when it comes to making an offer, buyers aren’t giving up. It’s still a great time to buy, and for most, it makes more sense to act now rather than continuing to pay high rent prices. Just last week, mortgage rates saw their biggest one-week drop in a decade, giving prospective homebuyers yet another incentive to find their dream home.
So what can you do to prep for a flood of buyers and sellers wanting to take advantage of the market this spring? Here are a few tips from Michigan Institute of Real Estate on how to prep for real estate’s busiest season!
The spring market can be chaotic, and at times it may feel like you’re working 24 hours a day! The best way to combat the stress and excitement is to get organized BEFORE the chaos hits. Make sure you have plenty of business cards ready to go, your website is up to date and running smoothly, your digital and paper files are organized, and you have an assistant ready to help if you think you’ll need one. If you aren’t spending time worrying about the above items, you can spend more time with clients!
Do your potential clients know what a great time it is to buy or sell a home? Those who aren’t real estate professionals may not know about the great opportunities the market is presenting right now. Stay active on social media with posts that will make people want to buy or sell with you, and be prepared to answer questions from your followers.
Last, but certainly not least, get educated. Stay up to date on market conditions and more with classes from Michigan’s top real estate school and the Michigan Institute of Real Estate blog. Your clients deserve more than just a real estate agent, they deserve an expert!
Are you as excited as we are? To all of the great professionals we’ve taught over the years, good luck this spring!