Real Estate Referrals are a big misconception
According to the NAR 86 % of home buyers viewed purchasing a home as a good investment . During this down cycle most home values will continue to increase over the next two years . This has already proven to be true in areas in the West , and Southwest . Numerous cities including Phoenix , Atlanta , Denver , and Tampa have shown a least a 4 % increase in home values in just the last few years .
Although 77 % of prospective home buyers purchased a home with a Realtor, 78 % of those first contacted a Relocation Company and/or a Real Estate Referral Company first. Most people who want more information in regards to relocating are in the early process of purchasing a home. During this time they do not want to be bombarded by sales calls from Realtors looking to shove homes down their throats. This is where a Relocation Company comes in. These companies setup thousands of stealth city websites (they look like Chamber of Commerce website) with information in regards to a specific city. Information usually includes schools in the area, companies that are hiring, real estate prices, and other lifestyle information. The prospective home buyer will then request more information, which the company will then forward to a Relocation Specialist, which will be a top agent in the area.
Now more than ever, young people are purchasing homes. NAR says that 46 % of all buyers last year were first time home buyers. Due to fantabulous mortgage rates and an extended state-to-state Home Buyers Credit, young people are buying homes more than ever. It’s just the smart thing to do right now. These people are purchasing homes for $150 ,000 that 4 years ago were over $ 450 ,000. In some cases people are purchasing homes that are up to 84 % cheaper than they were in 200 2 .
A recommended way for a relocation person to find information is to type in “City, State Relocation.” What this does is allows the person to find websites with great information, rather than a Realtor website that only wants to sell them homes. Since the majority of home buyers are under the age of 44 (83% according to NAR) most home buyers are very internet savvy. They know how to find crucial information, and they are using City Websites to find this information quicker. It’s no peculiarity that the latest statistics have shown that 90 % of all buyers used the internet to search.