How do I get home seller leads in this Market? Who is Selling?
Real estate agents, teams and brands are all asking the same question in this market “How do I get home seller leads?”. As we discussed in Part I, while transactions are down 30% over the last two years, there are still people moving, selling and buying homes. In fact there are currtnly over 300k homes under contract in the united states and Fanny Mae predicts a total of 4.8M homes sold in 2023, an uptick from prior estimates – but still the fewest homes sold per year in the last decade. This all makes it more difficult to get seller leads.
Revaluate AI leverages life event data to determine who in your database or farm is likely to move. The same life events that you know that cause people to need to move. Because the only people moving in this market are those that need to move or have to move …. or said another way, they don’t care about cost due to a more pressing issue.
We call these the Data D’s and in Part II we will explore 3 D’s that relate to families: Diapers, Diamonds and DINK’s.
How do I get home seller leads in this market? Look for people experiencing life events that cause them to move.
Diamonds are a big indicator of propensity to move. Engagement rings are traditionally the leading indicator, however, more often than not its is a direct sign that the couple will be moving in together with the wedding band providing another sign that the newlyweds will be moving out of their parents’ dark basements.
Back in the day, agents would prospect for buyers in the back of the newspaper, in the engagement and wedding sections. This tactic still works – however the strategy fails as local newspapers don’t really exist.
A DINK is a Dual Income, No Kids household. While I love my kids and would not trade them for the world – I can imagine it would be a much different life if we didn’t have their expense and time commitments of band practice, swimming, school and sports. We could move anywhere within an hour of a major airport (since my wife and I both travel a bit for work). DINK’s are pretty free to move wherever, not tied down by “traditional” means such as schools. DINK’s also are less impacted by inflation and rising interest rates, as they can dedicate a larger percentage of their income to housing than “traditional” families.
Diapers signal the end of the DINK era. As a couple begins preparing for welcome a new little one to the home, they frequently realize that they will need and want more space. With each child comes an evaluation – should we get a larger home? With this search comes a whole new set of criteria. Schools, safety, and child care move up to the top of their priority list where they did not exist previously. The growth of a family is a big time of change when agents can become the family’s close advisor and mentor.
How do I get home seller leads? Revaluate AI leverages this data and much more and more to uncover home seller leads and conversations in your database or your neighborhood. People are moving – will they make that move with you?
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Part I: Death, Distressed and Dumpsters
Part III: Diplomas, Downsizing & Discretionary income (TBD)
Part IV: Divorce (TBD)