Real Estate Trivia: 12 Facts That’ll Blow Your Mind

We love a good market trend. It helps us understand what realtors in Las Vegas are up to. While most of what we read online is to be expected, some of them knocked our socks off. Wait until you read stats four and five!

In this article, we’d like to have some good old-fashioned fun with you. 2018 is gearing up to be an interesting year, and we mean that in the best way possible. Let’s get out the wax for our surfboards and ride this wave all the way to the bank.

1. The Housing Market Has Risen 11.4% Since 2008

In 2008, median home prices came in at $180,000. As of August 2017, the median range was $200,700, giving us a steady increase of 11.4%.

Being able to mention the fact that homes have recovered most of their value in the last ten years will provide your clients with some of the assurance they need.

2. Millennials Made up 34% of Home Buyers in 2017

According to the National Association of Realtors, millennials (those 36 and younger) comprised the largest share of the home buyers’ market at 34%. Another fun fact is that 66% of them were also first-time home buyers.

What’s the moral of the story? Don’t be quick to cater to a middle-aged couple over a younger-looking couple. According to the facts, they’re the ones signing on the bottom line.

3. Young Buyers (56% of Them) Found Their Homes Online

Back to the National Association of Realtors 2017 report. Did you know 56% of millennials found their homes on the Internet?

Meanwhile, 50% of buyers aged 37 – 51 found their homes online. It’s a slight percentage change but, again, let those numbers do the talking.

We’ve written about the power of digital marketing before on our blog before. It’s truly the only way to break on to the leaderboard.

4. Only 11% of Realtors Have a Blog (!!)

We were stunned by this one. In a digital world where people are swiping left, right, up, and down, it’s astonishing to see such a low number of realtors using this to their advantage.

A good blog doesn’t really tout your own business. It offers industry insights and helpful advice to others. A well-written blog post, optimized to appear in search engine results, will have buyers and sellers stumbling onto your website in no time at all.

Sure enough, they’re going to appreciate your wisdom and come knocking on your door. And, since your competitors aren’t on board yet, this is your opportunity to get ahead.

5. Only 7% of Realtors Utilize Social Media

Okay. We needed to sit down after this one. 11% was bad enough. But, to think only 7% of realtors are using the most powerful tool in the world to target 36% of the market is… wow.

If you’re not reading and researching social media skills on your nights and weekends, it’s time to belly up to the social media bar. Feel free to start with 5 Social Media Platforms that Increase Client Appeal.

Or, if you only want to rock it out on Instagram, take a look at How to Boost Your Online Presence. You have nothing to lose and 93% of the market to gain.

6. Staging Increases Home Value As Much As 20%

If you’re looking to offer staging services along with your selling skills, you might want to visit the folks over at Home Staging Statistics. They provide a wealth of resources, including some comforting statistics for your client.

That’s where we found this whopper: 58% of sellers’ agents believe staging increased their home value as much as 20%.

If that’s not enough, they even go on to point out that a whopping 97% of buyers’ agents attest to the fact that staging had a positive effect on their buyers’ views of the home.

We’re firm believers in the magic of staging, too. Take a look at our Top Staging Tips from Industry Pros to help you get your clients on board!

7. 40% of Your Curb Appeal Lies in Beds and Borders

Just like staging, you can bet your bottom dollar curb appeal counts, too. If you’d like to suggest this to your clients, but fear their ensuing panic, mention flower beds and neat trim as a place to start.

While a good power washing, raked lawn, and paint job all count, apparently beds and borders are where it’s at.Take a look at our guide, 5 Ways to Boost Your Client’s Curb Appeal, to help you nudge your sellers along.

8. It Takes Eight Weeks to Hone in on a Home

The National Association of Realtors put the average home buying process at eight weeks. Right after the crash in 2008, folks were very slow to take the plunge, coming in at an average of 12 weeks.

This, too, indicates a healthy market, full of hope and opportunity. Allow your clients to see that good old-fashioned competition is starting to rise again. As they continue to follow their guts and trust their instincts, you can gently point out the fact that the clock is, indeed, ticking again.

9. 62% of Realtors Want to Sell Homes with Smart Locks

It always goes back to the digital world. Did you know 62% of agents have discovered that buyers want homes with Smart Locks? The ability to lock and unlock our doors, change the thermostat, and adjust the temp in the fridge from a cell phone is enormously appealing to buyers.

Someday, it won’t just be an attractive feature, it’ll be as commonplace as flicking on the switch for your ceiling fan. If you happen to notice any homes that list this as one of their features, you should definitely hone in on then.

10. Low Mortgage Rates Are a Thing of the Past

According to CoreLogic, a data provider for the real estate industry, 30-year fixed rate mortgages will average 4.7% by December 2018. During the last quarter of 2017, they averaged 4.07%.

While this isn’t the best of news, it’s worth keeping it in the back of your mind. The only silver lining is the fact that mortgage rates are impossible to predict.

If a client happens to run this stat by you, simply reassure them that it’s not set in stone. Also, tell them to fear not. There are plenty of lenders out there still offering competitive rates.

11. Home Prices Will Stop Rising

Okay, perhaps there are two golden nuggets you can offer your clients. It’s not likely that the cost of homes will rise in 2018.

Home prices rose 6% in 2017. However, the median forecast is only set to rise 4.1% in 2018. This can be attributed to the plethora of new homes that are expected to go up this year. And that’s based on all those building permit applications being worked on as we speak.

12. The Average Realtor Income Is Up!

We love to end on high notes. And, what’s better than an increased salary? Going back to our pals over at the National Association of Realtors, income is on the rise.

In 2015, the average realtor income was reported at $39,200. 2016 saw earnings around $42,500. Payscale is reporting the 2018 average to ring in at about $46,713, for what it’s worth.

Time to Blast, “All I Do Is Win!”

Friends, if you’ve taken away anything from these fast facts, we hope it’s social media. That is your gateway to ruling the real estate world. Whether you want to focus on your blogging efforts or your social media triumph, pick one, and start the ramp-up.

Look around you next time you go out to dinner. How many people are staring down at their phones?

We bet at least one of them is browsing the Las Vegas real estate MLS listings for their dream home while another salivates over some HGTV staging sensation.

If you need to look into a Digital Marketing Agency to help you dip your toes in the water, do it. You’ll earn that money back in no time at all.

What do you say we let 2018 be THE year? While you’re at it, come on over and visit our blog when you can. We’re constantly updating it, with your success in mind.