Archive for the 'Real Estate Marketing Tips' Category

November 26, 2018

There is one real estate opportunity that seems to only be growing in popularity: selling condos.

The Canadian condo market continues to boom. From 2016 to 2018, more than 14% of private mortgages came from condominiums.

In June 2018, residential construction starts across Canada surged to 248,000 units, driven by condos.

“While there has been some moderation in price growth and less speculative demand in the single-family home segment, prices for condominiums have continued to increase rapidly in some markets,” the Bank of Canada noted in its July 2018 Monetary Policy Report.

Condos have also benefitted from tougher mortgage rules and increased interest rates. As house prices have gone up, condos have remained the more affordable option. This means that not only are younger buyers opting for condos over traditional homes, but so are older buyers. For instance, some members of Generation X are choosing to move into condos for a smaller mortgage.

In 2017, three out of every four homes built were multi-family units, compared to 65% the decade before.

If you sell real estate in Canada, the signs are there that this is the time to consider selling condos, too.

Should you decide to join the condo market, or ramp up your efforts, here are some best practices to keep in mind:

  • Look at property details. Just like you would request a property report for a single-family dwelling, you should do the same for a condo. For instance, with a GeoWarehouse report you can see all condo units in a building, search by level, look up related PINs, access the full legal description, and more.
  • Don’t only consider constructed condos. Look also at pre-construction condos. New condo buildings are being constructed quickly, especially in larger urban areas like Toronto and Vancouver. Sell clients on making a decision early to beat the rush.
  • Condos aren’t just for younger buyers. As we mentioned above, condos used to be the millennials’ residence, but that’s not always the case these days. More and more older generations are choosing condos amid new mortgage rules, increased interest rates, or wanting to stay in an urban area. While millennials are certainly still a big market, they’re not the only market.
  • Look at what else the building offers. There may be additional assets included with a condo sale, like a parking space or storage lockers. Unlike a traditional dwelling type, a condo can come with other perks, too — security guards, an on-site gym, a luxury view, etc. Play up these features in your sales pitch.
  • Focus on unique features. Condos are a space sacrifice, especially if a potential buyer is used to a larger home. But because they are rising in popularity, there are many more options for comfortable condo living today, like urban agriculture, unique storage ideas, and two-in-one furniture items. Don’t be afraid to get creative with your staging.Access condo status certificates online. There is no need to request your condo status certificates by fax anymore. Instead, use a tool like GeoWarehouse to do it all online.

While the condo boom is continuing to thrive, it makes sense to take advantage if it’s in your area. GeoWarehouse can help you stay on top of the latest condo trends and access property information.

Learn more by calling 1-866-237-5937 or visit www.geowarehouse.ca.

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During the winter, it can be tempting to make like a bear and hibernate until spring. But you don’t have to wait for the melt to start creating amazing listings — winter listings can be just as incredible. But as with most things in real estate marketing it’s up to you to make sure someone who is listing or looking for a home knows it.

The good news — technology makes doing this that much easier!

You can use your real estate marketing tools to build listings that show more — such as aerial imagery. Show how a property looks from the sky. It can even include adjacent properties and structures, which can really a potential buyer visualize the size of the yard when it’s not covered in snow.

And don’t forget about street view imagery. This will let potential buyers know how their property looks from the street at warmer times of year.

Winter listings also have a decided upside. Anyone who’s spent a winter in Canada knows how essential winter road maintenance is to your quality of life. So, shopping for a house in the winter, or putting a home on the market, can let would-be buyers gauge how the city or town maintains the streets, for example.

Another benefit of winter listings — if you get a home inspected during the winter season, it allows you to see how the home does in the most extreme weather. Buyers will get a taste of what type of shape the home is in. If you’re seeing a home in the spring or summer, you’re not necessarily thinking about heat retention or drafty areas — things that make the difference in home comfort.

Still not convinced winter listings are an untapped market? We’ve got plenty more reasons to put more focus on them. Consider the following:

  • Research shows homes listed in the winter actually sell faster. A winter home shopper is more likely to have to move for a reason — either a selling deadline, a job, expanding family, etc. Which means they are more primed to buy.
  • The slower season is a good time to try out different techniques. Especially if you’re still building up your real estate business, the winter season can be a good time to tweak and evaluate the effectiveness of your marketing efforts when there are fewer sellers demanding your time.
  • Shovelling a driveway for showings is much easier than maintaining a lawn and garden.
  • And finally, let’s not forget, Canadian interest rates are increasing. They’re likely to go up again in 2018. A potential buyer shopping now may be able to lock in at a lower mortgage rate than will be offered in the coming, warmer months — an unfortunate reality you can use to your advantage.

With the right real estate marketing mindset, you can take the challenge of selling a house in winter and turn it into an opportunity.

GeoWarehouse has the tools to help you make the most of your winter listings. Access aerial imagery, street views, property information, and more.

Visit www.geowarehouse.ca today.

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September 25, 2017

When it comes to being successful in real estate, one of the most important things you need to consider is how and where you market yourself. With so many different marketing mediums available, it can sometimes be tough to determine the best uses for your marketing dollars – some more expensive than others. However, real estate marketing ideas don’t have to cost you a fortune. There are creative – and inexpensive – ways to drum up business that won’t break the bank.

Previewing properties, knocking on doors around listings, and calling FSBOs are all excellent tactics to drum up new leads, but if you want to invest in some affordable and creative ways to entice prospective business, here are six creative real estate marketing ideas that will help position you as a go-to real estate professional:

  1. Partner with neighbourhood associations. This is a great way to meet new people, network and get your name out there with the movers and shakers in your community.
  2. Remember your past clients – they are your promoters and represent valuable referral sources – consider campaigns targeted specifically to them to promote referrals. Make sure you add value to the conversation by providing information on market trends or hot properties they may not know about.
  3. Create a digital presence for your services. As with many industries, social media often represents your most cost-effective marketing. Start with one platform, Facebook for example, and then built up as you get more comfortable. Be active, posting listings and sales, in a way that captures the attention of viewers. Engage as much as possible to get your name out there.
  4. Join social media groups about real estate and answer questions that people post and contribute content that would be valuable to them.
  5. Leverage sites like LinkedIn to meet and establish new referral relationships with other professionals like mortgage brokers for example. These may prove very valuable as time passes and could become your largest referral source!
  6. Leverage cheap and free social media and classified sites to promote listings. The more places people can find you, the more likely they will be to associate you with success!

With so many free resources available online – and a little legwork – you can draw upon hundreds of unique ideas to help generate leads and build your business.

With GeoWarehouse, you can access the reports and information to both land leads and then close your deals!

Visit www.geowarehouse.ca today!

 

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