2024 has been quite a year for the housing industry. Interest rates kept us on our toes, the dust is still settling from the NAR settlement, agents are retooling their buyer and listing systems, we are digging an even greater hole in terms of our inventory, and now we even have insurance issues to bear. This year challenged both new and seasoned real estate professionals. Despite the challenges, there are big opportunities ahead for agents who know where to look.
Highly acclaimed by past attendees, State of the Market includes crucial information about important changes happening in our industry, historical and current market conditions, researched insight and predictions of where our market is going, and opportunities and talking-points for brokers to explore and capitalize upon.
When was the last time you were inspired by something new that you learned for your business? Something that actually got you from thinking, something you could implement that would drive your business forward? Maybe something that took you away from investigating online and took you toward experiencing a real-life example?
Last week, I took the members of my Encore coaching groups to Floor & Decor in Everett to review all aspects of flooring and surfaces. We had already reviewed a number of principles prior to our field trip, so our members were prepared with a background in current trends and materials before we got there. While there, we reviewed a wide variety of flooring types, discussed appropriate flooring for different applications, learned about how to prepare a subfloor, installation, and grout; and discovered how to get a really high-end look for much less than you would think.
Why would our agents need to learn about this? Two reasons:
For the latter, when an agent better understands a product's specs and how it actually works and looks, that agent can better-prepare their home buying clients when they encounter these products in a new build or remodel.
Once I gave them a tour of the store and the products, I set them loose to explore. I asked them to find me some wood flooring, tile for bathroom flooring and shower, and a fireplace that would go together harmoniously. Now they were actively thinking about how these products work in a home - what a great opportunity!
This is the point of this article is that there is a huge difference between looking at product on a website versus actually being a store environment. Physically handling product is a much different experience than just reviewing it online. It connects you more intuitively with how it really works and feels. After all, homes aren't something we live in online!
When we look at home design, materials, and components online, it is so easy to get overwhelmed with all the many options. However, when you review these things in-person, those options quickly narrow and it is easier to make a decision. With tile and flooring, the color, texture, scale, and durability of the product quickly make it obvious when something isn't the right fit.
No matter what product is your current point of focus, let this be a message to you: if you are agonizing over online choices, get out and go into a store. This also goes for reviewing listings online. Get away from your desk and preview new listings on the market in person! Don't just rely on online photos. That online listing that matches most of your buyer parameters, but has awful photos, may just be the diamond-in-the-rough your buyers are searching for.
It is easy to feel like browsing online is more efficient, but there is no substitute for seeing a product or a listing up-close and in-person.
By Denise Lones CSP, CMP, M.I.R.M.The founding partner of The Lones Group, Denise Lones has over three decades of experience in the real estate industry. With agent/broker coaching, expertise in branding, lead generation, strategic marketing, business analysis, new home project planning, product development and more, Denise is nationally recognized as the source for all things real estate. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.