With ONLY SIX WEEKS LEFT in 2010, just about everyone has started thinking about what’s ahead for next year in real estate. While no one here at Market Leader has a crystal ball, it’s fairly certain that the market will continue to change and shift in 2011.
Savvy agents know they need to start planning now to build their pipeline of prospective business in order to capture the opportunities out there. And make no mistake…opportunities will be out there for the agent who looks for them in 2011. Here’s what you may look forward to next year:
- Stress sales may decline. Mark Zandi, chief economist at Moody’s Economy.com, told Inman News he believes foreclosures will decline in 2011. Fewer foreclosures could bring better balance to many markets.
- More and better buyers. What’s more, consumers may be getting through the worst of their own financial crises. According to Richard Berner, co-head of global economics for Morgan Stanley in New York (via Bloomberg), households are reducing their debts and building savings faster than he anticipated. This may position more consumers to take advantage of what continue to be historically low mortgage rates.
- More competition. While the numbers of licensed agents may not grow in 2011, the agents who are still in the business are becoming increasingly smarter about using online marketing. This means you’ll see more agents using low- or no-cost tools like social media, and it will be harder to stand out. It’s then essential that you capture leads and business from your social media and online presence. Put a bottom to the sack, so to speak.
So… do you feel ready for 2011?
Download our complimentary 2011 agent business plan to help you create a plan to achieve your income goals for the coming year!