Little changes in the economic, environmental and other factors can have a direct impact on the real estate market. Therefore as an independent agent, you need to be aware of all that is happening in the current property market which will help you to take appropriate actions and make the right decisions. For that, you have to get updates through the property marketing reports which will offer you a glimpse of key trends in the housing market, information about sales and lettings, and more.
By collecting these reports you will be able to plan a great marketing strategy to find clients and climb your business ladder. Know what you have to know about the current real estate market so you can become an excellent independent estate agent.
Increase in homeowners
Many young people who have not owned a home before are now becoming homeowners because they prefer to live in a house of their own rather than living in a rental property. They want to settle down in their life earlier than the previous generation so they are starting to look for ideal properties to buy. So the increase in first-time home buyers is a major development in the real estate market today.
The popularity of new property construction
Real estate investments are on the rise because many are starting to understand the profitable yields they can enjoy if they invest in a buy-to-let property. That is why you can find lots of investors trying to invest in new buy-to-let building projects flaunting the latest amenities and a convenient location.
For instance, the new properties are built with more energy efficiency in mind than the older properties and they also come with an energy-efficient certificate as a proof which is due to the rising concerns because of climate change awareness. As a result, many homebuyers prefer to buy energy-efficient property because it cuts their energy bill by half. So many are taking energy efficiency seriously and this idea also has affected the property market.
Many homebuyers and sellers are finding it easier to look for property services online and this trend will increase in 2023. That is why many independent estate agents are going online to find potential leads and make their online marketing strategies stronger.
For instance, online services help clients to get flexible services like 24/7 customer service, get an online valuation, book a property valuation, scour through lots of property listings, get instant updates about properties and more. Plus by using the latest online tools it will be easy for independent agents like you to operate in your area because you will be able to find quality leads in need your services. You will be able to send customized emails and texts to them to engage and impress them to choose your services.
Mortgage rates are stabilising
Fearing the increasing mortgage rates many interested homebuyers are not coming forward to look for properties but in 2023 you can expect the mortgage rates to stabilise. Now there are lots of opportunities for them to find better mortgage deals which they can manage to pay. Therefore you can expect many eager homebuyers to join the property market and they are only in need of reputed estate agent services to guide them in their journey.
Factors influencing home purchase
Today lots of factors are influencing a homebuyer’s decision to buy the property and one major thing is the location. Many want to live in a neighbourhood that is quiet, serene and away from the buzz of the city and other factors homebuyers look for are the transport links and the nearby schools. Plus they also prefer to settle down in a home with a front or a back garden so there is lots of great space to move around and entertain guests. These preferences are becoming a major trend in the real estate market today.
Are you an independent estate agent who needs expert assistance?
Running an estate agency can be daunting at first but with experience and the right skills you can become excellent at the job. But you may also need some expert help to guide you in the right direction and for that, you can contact reputed property professionals whenever you need their services as they will offer you useful tips to find leads and increase your client portfolio.