After months and months of what seemed like a never-ending busy season, we may finally be seeing the return of a cooling U.S. housing market.
Our data scientists dug into the numbers and found that home sales were down 6.5% between August 2021 and September 2021, which is more than the momentary 3.6% drop that we saw between August and September 2020 before sales shot back up in October. Home sales in September 2021 were down more than 11% compared to September 2020.
After the red-hot market in 2020 continued into the autumn unabated, we’re seeing that homes are on the market for more days and sales are slowing down.
All signs, then, point to the end of busy season.
With so many cities across the country seeing unprecedented competition and low inventory, agents may not have worried — or needed to worry — about lead generation because of the quick pace of the market. But seeing signals of slowdown, agents should seriously consider whether they need to take advantage of the presumptive final weeks of busy season and generate more business before a winter lull sets in.
To end the year strong, agents should immediately prioritize generating high-intent leads and ensuring that their leads understand that now is the best time to list before the year ends.
Prioritize Lead Generation
With a slowing market, agents should be looking for leads that are ready to buy and sell now.
If you want to generate leads before busy season ends, getting live phone calls through Google’s Local Services Ads, available exclusively through Homesnap Concierge, is an absolute must.
Agents who use Concierge appear at the top of Google search, even above traditional paid search ads, and receive direct phone calls from leads looking to buy or sell. Our data shows half of those calls are qualified leads, and 1 in 10 is a seller lead. Our team also vets every call to make sure your budget only goes toward qualified leads.
More than 90% of real estate searches start online, so generating leads requires an online strategy. Homesnap Concierge saves you time and also brings those coveted ready-to-transact leads to you directly, which is ideal for agents who want to close more business immediately.
Reinforce Why Now is the Time to Sell
The housing market may be cooling, but sellers still have reason to sell. So, when you earn new leads, emphasize the urgency and opportunity of completing their sale before the impending real estate doldrums this winter.
Consider things from your leads’ point of view. If they’re a seller who has a home listed in the fall, they will probably be eager to close. Maybe the home didn’t find a buyer during the peak season of the spring or summer, or maybe they are dealing with a major life change, such as a sudden move.
Focus your efforts on helping these sellers understand that now is the time to sell. Throughout the listing, marketing, and open houses, reiterate that the market is likely to enter a down period in the winter and that they will get a more competitive price by selling now.
Once your leads understand that now is the time to sell, help them realize that you are the agent best suited to help them do it.
For example, you can leverage your Homesnap Concierge membership in your listing presentation to establish yourself as an expert marketer. Explain how Concierge’s savvy team of marketers ensures that you will receive live phone calls from interested buyers if you post their listing. In this way, you can use Concierge both to find leads and convert them to clients.
Overall, a return to the fall and winter real estate slowdown may seem intimidating to you, your leads, and your clients. But by fostering a sense of opportunity, agents can continue to earn leads and close deals.
Want to receive live phone calls from leads who are ready to sell their home? Upgrade to Homesnap Concierge.