The extended tax credit deadline for first-time buyers was the #1 event in 2009, according to Stefan Swanepoel’s Top Ten events of 2009. We couldn’t agree more. The extension (and expansion to move-up buyers) will extend the buying buzz into summer 2010.
But what’s next? Ask any retailer what happens after a sale ends. There is a lull. The market needs to regain its steam. Remember how car sales dropped in the month after the “Cash for Clunkers” promotion ended? What is more important for real estate Rainmakers is to prepare now for the market after the tax credit stimulus stops.
Any one who knows me knows I’m a believer in the “with crisis comes opportunity” approach to marketing. Looking into our real estate Rainmaker crystal ball we see a coming rebound driven by first-time sellers. Over the last couple years of the downturn, first-time buyers (and investors) were the engine that most often propelled real estate markets across the country. In the next years these buyers, who grabbed instant equity from distressed low prices, will be primed to move up to larger, better homes.
Real estate Rainmakers we’ve surveyed say they are targeting these first-time buyers as first-time sellers in the coming year(s). Time and again we hear these professionals describe their “direct marketing plans.” They have built databases of the target properties (by price, style, size, area, etc.) bought by first-time buyers in their area.
Now the real estate Rainmakers are ramping up target marketing to these individual “most likely to sell” homeowners. Direct mail. Direct phone prospecting. Direct e-mail. Direct canvassing. Direct social marketing (blogging, tweeting, generating word-of-mouth buzz about how to be a successful first-time seller).
As the wave of first-time sellers returns to the marketplace, these prepared professionals are in the best position to capture those listings. These clients are the key to profitability — and the frequent double commission on the buyer side that often comes with these move-up clients — for savvy real estate Rainmakers.
When we look back at 2010 next new year, we expect the #1 event to be the “return of the first-time seller.” From crisis comes opportunity.
Join the conversation and share how you expect to take advantage of this rebounding market for listings.
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