Real Estate Market Conditions
by: Kim Polinsky
The winter season gives real estate agent/brokers a chance to sit back and evaluate the previous season-Yes? No! These days, the chance to sit back is merely a dream. Agents and Brokers must build their business with new market niches in order to stay on top of their field.
Yes, the “bubble” has burst. Burst into a finely tuned, quickly burning engine that has grown to a new level of expertise and profits!! Real estate marketing IS changing, and the newer, inexperienced, hungry agent/broker is finding a level playing field on the new path of real estate.
Recently, the trade is encouraged by the fact that this year, unseasonably warm temperatures found across the nation are fueling not just tourism. The warm temperatures are attracting ready and willing buyers, matched with sellers willing to turn some profit. Mountains in Colorado, beaches in California, the list goes on and on regarding the traditional tourist locations visited by prospective real estate buyers.
Secondary purchase markets have reached new heights as our “baby boomer” population retires into the most healthy, active retirement demographic documented. People are skiing, surfing, hiking, biking and partying into their 70’s and 80’s like never before. This demographic has the characteristics of an elevated lifestyle, higher purchasing power and savvy investment experience. Best of all, this demographic continuously proves that it wants to own real estate.
Where are the sales happening besides the high profile tourist places? They are happening wherever there is leisure. Mountain cabins are found not just in Colorado. Towns, Cities, and States are marketing themselves based on biking trails, the ever expanding “wine country”, hot air balloon territory, Spa capitals, and quiet home towns that include a café and newspaper. These are the tip of the iceberg in “leisure” locations.
Each client in this market is looking for something specific and requires an agent/broker that can not only understand those requirements, but market to them.
As real estate progresses into this decade, there are many changes to keep in mind. The clients are more educated in the real estate purchasing process. They are more developed in the home improvement process (thank you reality TV). Agents and Brokers need to continuously find their niches of clients, and market directly to them. Check out www.realestateproguides.com for helpful information. The general population is segmented and divided into smaller specific lifestyles and needs. In order to provide these segments with real estate services, the market must know that the agent/broker has specialized in their specific needs.
Specialize, Specialize, Specialize is the new mantra of the real estate agent/broker in 2006.
About The Author:
Kim Polinsky is a real estate specialist. She has authored two books regarding real estate niche markets. She works closely with Margot Murphy at www.realestateproguides.com.
March 2006
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