Brian Buffini’s Bold Predictions: 2023 Real Estate Market Update
For many years, Brian has predicted real estate trends and developments with astounding accuracy ahead of time. In his 15th annual Bold Predictions broadcast, he forecasted what’s coming and shared the three opportunities that real estate professionals can use to win in 2023.
Help buyers and sellers navigate the new market
Contract cancellations have become more and more commonplace over the past year. As a professional agent, it’s up to you to help buyers get in the right frame of mind by reminding them of the benefits of today’s market ahead of time. Rates might be higher than they’d like right now, but this also means there’s no more panic buying, there’s a little more inventory to choose from and there’s no need for a 30-year fixed rate mortgage. If buyers can get the house they want now, they can consider refinancing to get the rate they want in the future. When it comes to sellers, you need to create momentum and motivation. In today’s market, a real pro is more valuable than ever before, so make sure to serve your clients at the highest levels – and remember to consistently stay in touch with past customers to keep a steady stream of referrals coming your way!
Become part of people’s investment team
Most homeowners don’t consider their agent to be part of their financial investment team. This doesn’t mean that people don’t appreciate you, it just means they associate agents exclusively with the buying or selling of a home – not as part of an investment strategy team. This year, you must systematically work to change this dynamic. A great first step is to send this letter to clients to remind them that real estate has been the number one protection against inflation for 100 years. Let people know you’re ready to help with their investment property needs and you’ll win extra clients, existing clients will do more business with you and you’ll get more referrals.
Build your out-of-state network
In the next year, out-of-state moves will continue at a precipitous pace. Whatever the reason – increased taxes, retirement, affordability – people are still relocating. As a trusted advisor and a pro, you need to be ready to help. To do this, you must build personal relationships with a network of agents all over the country. Then, no matter where your client is moving to, you’ll be able to refer them to someone who can take care of them. Not only will you help your client at a stressful time, you’ll make connections with likeminded agents and you’ll benefit from referral and transaction fees too!
These three opportunities are unique streams of income that can become a river in today’s market if they’re managed properly. In 2023, expand your frame of reference and you’ll expand your business and your database too. To learn more, watch Brian Buffini’s Bold Predictions: 2023 Real Estate Market Update.