☑️ The #realestate inventory crisis 🏠
☑️ Rising cost of materials 🏗(e.g. lumber, paint, et al.)
☑️ Feverish 🥵 levels of buyer demand
☑️ Multiple-offer “mayhem” (and, consequently, rapidly appreciating home prices 🏷)
☑️ Super low mortgage interest rates (and what to expect)
☑️ Generational buyer/seller shifts: multi-gen households, pet priorities 🐶, and more.
In today’s Marketing Stream episode, I’m joined by Dr. Jessica Lautz, Vice President of Demographics and Behavior Insights at the National Association of REALTORS® — and we’re taking about everything you need to know about today's real estate market. Inventory, purchasing, new construction, and more!
End of the day, marketing is all about crafting a message that connects/resonates with the consumer. In fact, your marketing is just the megaphone for your message.
It’s like Tom Fishburne said:
“The best marketing doesn’t feel like marketing.”
So if your message is out of context, it’ll gonna fall flat. On the other hand, if it addresses a problem, a perception, or a desire of the consumer, it’ll cut straight through the noise.
Grab your notes and strap in for Marketing Stream Episode 006!
In today's discussion:
0:00 - Intro
2:42 - Introduction of Dr. Jessica Lautz
3:58 - Inventory Shortage in Various Market Places
7:20 - The Relationship Between Affordability and Inventory
8:45 - What would you tell a buyer that is competing against cash offers?
9:46 - What direction is the real estate market headed towards?
13:19 - Are there more buyers, less inventory or a mixture of both?
18:27 - What caused the housing supply shortage?
24:39 - How should agents be communicating with their customer base?
26:18 - What has changed with consumers and housing?
28:00 - How much of a birth-rate decline have we had?
29:23 - Did the pandemic cause a premium per square foot?
32:37 - Buyers Looking for Multi-generational Homes
34:49 - Outro