Last week, we introduced Trending Tuesdays to all of you real estate sales technology news aficionados. This week we’ll cover the latest trends in cash buying real estate sales, the tiny home alternative movement, online real estate auctions and email marketing etiquette trends for 2014.
Cash is King: Home Buyers paying with cash reach all new high!
Nationwide we are seeing a striking increase in all-cash purchases for the first quarter of 2014. Nearly 43% of all home sales were all-cash purchases, up 38% from just the fourth quarter of 2013. The Top 3 reigning states of all cash home sales in 2014 are Florida at 64%, New York at 59% and Alabama at 56%. This is the highest statistic since 2011 when RealtyTrac, the nation’s leading real estate data source, first started tracking all-cash sales.
Research firm CoreLogic is also reporting a 40 percent nationwide for cash buyers. The Washington Post quoted Sam Khater, CoreLogic’s deputy chief economist: “It’s truly a national phenomenon. The share of cash sales is higher than normal in many parts of the country that never had a housing bust, like the rural heartland states of Oklahoma or Missouri.”
Competition for the dream home: What to tell your clients when competing with cash buyers
Surely these statistics must frustrate first-time buyers who can’t compete because their offers include financing contingencies, appraisals and inspections. All hope is not lost. Beverly Hills agent Ben Kruger has given us some surefire ways to best cash buyers in the article, 9 ways to crush all-cash buyers on interest.com.
Are real estate agents becoming obsolete? Say hello to the online real estate auction
Wolfe Springs Resort, a luxury, four-season fractional ownership resort in Eastern Ontario opened bidding this week for it’s remaining vacation residences. This is the 2nd Ontario based fractional ownership developer in less than a year to close out development using an online auction. AuctionWorks has also announced an online auction on June 23-25 that will feature luxury homes in Chicago’s Lincoln Park and several bank-owned properties to be sold to the highest bidder, regardless of price. Will the online auction for luxury real estate become a more widely used tool in real estate sales technology in the coming years?
The Herald Online provides an explanation for the growing online real estate auction trend: “Auctions have become a popular choice for sellers of luxury properties who are seeking more control over the sale process in a time when traditional sale contracts often fall apart due to financing and other contingencies,” said Diana M. Peterson, president of Chicago-based AuctionWorks. “These sellers are often sophisticated and wealthy – not in distress, foreclosure or bankrupt – and are attracted to the auction process for myriad reasons.”
The Next Big Trend in Housing – Tiny Houses
Capitalizing on efficiency and affordability, the tiny house movement is rapidly growing.
With potential home buyers struggling with soaring house prices and competing with cash buyers, ABC News is reporting a 160% spike in the tiny house movement over the last few years. While the tiny movement may seem a little fifth column for some people, many are catching on to the affordability and sustainability of the tiny house as a solution for first and second homes.
The movement is expanding even to tiny hotels, tiny apartments, tiny granny flats and even a solution to homelessness. While these sales may never replace traditional big home sales, it is certainly a trend to watch. Read & watch more at ABC News.
The New Etiquette for Email Marketing in 2014 – 5 Tips on How to Not Lose Subscribers
Hadi Partovi over at LinkedIn gives us 5 tips on how not to lose our hard earned subscribers. While some of these would seem obvious, you would be surprised how many of these suggestions get overlooked. As email marketing for real estate evolves into 2014, we get to fine tune what works and what doesn’t. #3 is my number one pet peeve. It’s shocking how many websites are still not yet responsive.
Make formatting your email for mobile the top priority because 65% of all marketing emails are actually opened on mobile devices. So if your newsletter is not mobile ready, I probably won’t be able to read your content and look at all those beautiful luxury real estate photos when I roll out of bed in the morning and grab my iPhone. I’ll probably just delete your email. More importantly, your potential client probably will too.
Clearview’s Tuesday Tech Tip: Basecamp – Everyone’s Favorite Project Management App
Basecamp has become one of the world’s most popular project management tools. Here at Clearview & Peter Kempf International, we use it to keep track of all our projects, innovations, strategic planning and client properties. This is very user-friendly tool that can streamline communication and planning within a business but also with clients as well. The beauty of Basecamp is that it allows clients to be updated on all parts of any project. You can create a project and invite clients to review your tasks lists, timelines & even receive emailed reminders. Watch a quick demo below or sign up for a free trial here.
For more weekly tips, tools and trends to help you become better at luxury real estate marketing & sell more real estate this year, consider subscribing to our newsletter.
Want to close more deals this year? Download our invaluable Elite Sales Process, a customizable 10 stage sales process, to help you increase your lead contact rate and convert more leads into long-term customers.