Hot tech that helps you in a cooling market – Inman
Brr! Despite record heat waves and soaring temperatures across the U. S. this summer, there is a chill in the air. Climbing mortgage rates plus home prices have contributed to a cooling effect on the particular real estate market. According to Zillow, sales of existing homes fell 14. 2% in June from a year before and have fallen on an annual basis within each associated with the last 12 months.
Many real estate agents have already noticed their pipeline of prospective buyers and sellers is slowing. In response, some agents are cutting back on their technology plus marketing budgets in anticipation of leaner times. But others are usually taking a bolder approach: ramping up their own investment inside their business.
It may seem counterintuitive, but now may be the ideal time to invest in your business and differentiate yourself from those who are cautiously wading back to the shallow end of the pool. Smart agents are taking their company to the next level with technology that can help them deliver intelligence and insights at speed and scale to their particular sphere of influence.
Here are some key opportunities the latest technologies offer to help brokers stay upon top of the shifting market dynamics:
List Prices: In 2021, sellers could essentially name their desired price and still expect multiple offers and bidding wars. Yet today, pricing is a more delicate art. It is important to cost a listing correctly. Otherwise, you risk the particular home lingering on the market, which may result in a very unhappy seller if and when they need to make a price reduction. Using modern property intelligence technologies can help you determine a more accurate value estimate based on micro-market analysis.
Offers: While pricing a list has become more nuanced in this marketplace, the same is true for making an offer. Your buyers may have more negotiating power right now than the year ago, but homes are still selling at a record pace, according to homegenius Home Price Index data released in July. A property intelligence engine backed by computer vision artificial cleverness (AI) can help you determine the particular sweet spot for your buyers to create a competitive offer.
Market Analysis: Pulling comps and creating a client presentation can be an incredibly time-consuming process. In fact, it takes the average agent 40 minutes or longer to complete a single comparative market analysis (CMA). Technology has evolved beyond the particular traditional CMA. AI plus automation can cut the procedure down to five minutes.
Personalization: Today’s consumers have greater expectations for a personalized, digital experience. Advances in technology allow providers to use time-saving software that can process tons associated with variables and provide customization for comps and presentations. Search tools powered simply by AI allow much more granular filters to fine-tune the results in order to your client’s preferences, including details like flooring, layout, brand of appliances, plus more.
In an environment associated with uncertainty, new technology can be a game-changer for real estate agents who apply it effectively. geniusprice SM technology , provided by homegenius Real Estate, is a personalized house intelligence platform leveraging advanced technology and the latest developments in information science, machine learning, and AI to provide agencies with next-level analytics plus insights inside a fraction of the time. geniusprice technologies empowers your success simply by enabling more confident pricing decisions, saving valuable time, and personalizing the experience for your clients.
Visit homegenius. com in order to learn a lot more about the homegenius ecosystem and tools that will can provide greater market clarity, direction, and opportunity, and assist agents thrive in today’s market.
The homegenius family associated with companies, the Radian Group Inc. business segment, combines an array of title, valuation, asset management, plus other real estate services into a full-service ecosystem. homegenius gives innovative experiences from search to close, enabling lenders, investors, consumers, and realtors to benefit from integrated and personalized solutions leveraging modern technology and the particular latest advancements in data science, device learning, plus artificial intelligence. Learn more at homegenius. com .
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