Each June, as we celebrate National Homeownership Month, it gives us a chance to reflect on the importance of homeownership and the role that real estate agents serve in making the American Dream of homeownership a reality for their clients.
Homeownership is deeply ingrained in our culture as a symbol of success and financial stability that most Americans aspire to achieve.
But in today’s challenging market, low supply, tough competition, high prices and now, higher mortgage rates, are making that dream more elusive than it has been in generations. The struggle is especially acute for first-time homebuyers trying to enter the market who don’t have the benefit of home equity to invest in their next purchase. It is, without a doubt, one of the most difficult times in history to be a first-time homebuyer.
It is also one of the most difficult times to be a real estate agent. For a buyer’s agent, this market is a brutal battleground. Houses are flying off the market at an all-time record pace. In January, the average home was on the market for just 61 days, a historic low, according to a realtor.com® report. That puts immense pressure on agents to show their clients a home the moment it comes on the market and submit an offer as quickly as possible. And with stiff competition for every home, it can be demoralizing for buyers and agents alike.
As the expert, your buyers look to you for all the answers: Should we increase our budget? Will things be easier in the fall? Are we crazy to offer so much for this house? Your knowledge of the evolving market is essential to help your buyer secure the home they have worked so hard for, and that you are working so hard to help them buy. In a breakneck market like this, you need sophisticated tools that make your life easier and give you better market data to make quick decisions.
That’s why homegenius is investing in emerging technologies like geniusprice technology—a property intelligence platform leveraging advanced technology and the latest developments in data science, machine learning and artificial intelligence (AI) to give agents deeper, more personalized insights to help their buyers navigate this complex market. Visit homegenius.com to learn more about the homegenius ecosystem and tools that can bring powerful analytics to living room conversations with your clients.
For more information, visit https://homegenius.com/.
As senior executive vice president, chief franchise officer and co-head of real estate, Brien McMahon leads the sales and customer experience strategies for Radian and homegenius. McMahon has over 25 years of experience leading sales, training and administration teams for multiple premier real estate brands.