Is the market getting tighter? Top agents should hope so!
Of course the market was not going to remain red hot forever. Mortgage interest rates were not going to stay historically low indefinitely. Multiple offers on day one, bidding wars, and sight-unseen purchases were not a “new normal.” On the contrary, these were top-of-cycle indicators. We all knew that their frequency would diminish.
Inevitably, our once super hot market will begin to cool. No need to panic. We agree with the nuanced, holistic take on this subject from Tristan Ahumada of Lab Coat Agents. The sky is not falling. (Also, Tristan hits upon something missed by most news coverage of the residential real estate market: the counterbalance of rapidly rising rental rates.)
From a macro economic perspective, market changes are nothing to worry about. We’re experiencing a natural inflexion point the business cycle The U.S. real estate market is a vibrant marvel of endless inflexion points, many of them in our favor.
The question is what to do in the meantime. As we compete to win new home listings today, right now, how can agents best position themselves to future sellers?
Here’s some advice we’re glad we ignored
As we were building Nila June Instant Property Descriptions throughout 2021, we sought and received a lot of advice. Most of it was great, but here’s a tip that aged like milk: “To be honest, the description could talk about everything that’s horribly wrong with the house, and it wouldn’t matter. The house would still sell for over ask.”
For a very short while, that was a little bit right. At the top of the market, some agents began to give only brief attention to the description. “Great house, good location” became acceptable. Other agents skipped the description altogether, relying instead on photographs, and on buyers’ proficiency with Google maps.
When all listings are equally wonderful in the eyes of the market, it’s harder for a great agent to stand out. When every house sells, every agent’s a genius. Sellers feel that they aren’t picking an agent so much as they are throwing the bouquet at a wedding. When sellers feel that any agent will do, that’s bad for the profession.
In a tighter real estate market, it’s easier to stand out
As conditions begin to normalize, however the opportunity for agents to stand out is restored. Hard work is noticed and rewarded. As sellers begin to see differentiation among listing outcomes, they’ll review the components of listing packages that they can see right now on Zillow. If any component of an agent’s work—the home description, for example—looks weak or is skipped: “Next, please!”
When market changes expose weak competition, it’s a great opportunity to win home listings!
Competition favors the thoroughly prepared
If your competitors are stuck in 2021 habits, great! The market has moved the needle on them. The threshold for success now requires the kind of creativity and attention to detail that you have always brought to bear.
Take full advantage.
Selling real estate was never meant to be a passive occupation. In normal market conditions, it requires social skills, persistence, and attention to detail—a combination of attributes rarely found in one person. That’s why you are special, and why you earn that commission.
The published home listing is your personal calling card . . .
. . . and, within the published home listing, the property description is often the best opportunity to flex your style and attention to detail.
Most listing sites, and services that offer home-specific websites, are heavily template based, with little room to replace or alter components. However, one of those components, the property description, offers considerable leeway.
We created Nila June to take maximum advantage of that room to run. Top agents need great descriptions, but it can be tough to find the writing time. We carefully absorbed their feedback, and made sure that Nila June instantly delivers the kind of description that they would produce every time, if only they had nothing else to do.
Although our descriptions are often published without alteration, in many cases the listing agent will revise them, adding their own personal perspective.
Nila June gets you started, with a property-specific headline, local context, interior and exterior features, creative language, and a clear call to action. From there, you decide what to do.
A great description can help win new home listings throughout a slower cycle
We’re not saying don’t use photographs. Use photographs! But remember, great photographs make you blend in, not stand out.
Nila June helps you stand out. We’re not the only ones who think so.
Also, check out our testimonials. Because Nila June saves so much time, the ROI for your current listing begins immediately. The ROI continues during the sales cycle and beyond, as the description remains online and viewable to potential future sellers.
Nila June is a silver bullet for one important component of your online presence.
Here are some other important Nila June links: