PRESIDENT’S CORNER
INMAN CONNECT NYC 2020 Inspiring Takeaways INMAN CONNECT NYC 2020 I had the opportunity in January to attend Inman Connect in New York, an amazing event where top professionals shared ideas and collaborated. This event included over 250 speakers who shared groundbreaking content and visions of the real estate future from their perspective. The event was inspiring and content rich with takeaways that I wanted to share with you! ON-DEMAND ECONOMY: We all realize today the demands and expectations of buyers have changed, where we once held in our toolkit for consumers the needed data of home valuation and the resource for home searching is not the case today with the technology evolution. However, there is no algorithm that can replace the value of a true real estate professional. The real estate professional today must realize the consumer expects more in terms of flexibility, knowledge of the market beyond an elevator speech and the resource for managing their real estate needs on a timely basis. iBUYERS 2020: It was quoted by Ownerly spokesperson, Richard Gargan, that Tampa will be one of the explosive markets in 2020 for ibuyer companies! As local Tampa REALTORS® we have seen the presence of these companies in our market and we can expect to see more. The 2019 stats for ibuyer company transactions across the U.S. doubled from .25% to .5% for all transactions in the U.S. One note was the hot spots that did have 3-6% in transactions. The overall growth for the U.S. was contributed to the opening of new markets, not depth in markets. MARKETING: Video was a big topic this year. The takeaway was to utilize this as a tool, consumers love it and appreciate the raw information. The videos that are most appreciated are the informative videos, i.e., market information, area information and home improvement ideas, not necessarily direct selling. Video plus social media equals results! Another session was brand marketing. Top agents (20 deals or more a year) shared that consistency was key, 72% of the top performers chose to stick with one marketing strategy for at least 18 months, content being 60% branding and 40% lead generating. They also spoke of the video marketing as a great resource.
an app is no longer useful, it gets discarded - stay current and useful! 1. Home financing alternatives - Always have the traditional resources available for your clients. In addition, you want to understand other platforms/ options on the market. Alternative financing options today are designed to help the consumer transition from one home to another, like trading cars. These companies offer bridge loans that allow the buyer to make more competitive offers as they eliminate the contingency to sell a home. There is also a source for concierge services. This covers the cost of improvement services (with no upfront costs), allowing homeowners to make their home market ready for the best results. One company noted at this session was Compass.com. 2. Creative down payment – This allows a home buyer without a down payment to get into a home. Agents partner with a rent to own company that allows those without a down payment to find a home. Home values since the 90’s have increased 120% while income has only increased 10%, so it can be hard for qualified buyers to sometimes come up with a down payment. Explore Divvyhomes.com for information on this option. 3. ibuyer – The “I” stands for Instant. There are homeowners who need this option or want the convenience of instant selling. Understand this model and have the resource available to offer your client at the listing presentation. It was mentioned by Houston Association of REALTORS® that 80% of sellers will look at this option when evaluating to sell, 93% will end up listing with an agent. If you are knowledgeable and control the data, you are the value proposition for your client. As a REALTOR® it is our obligation to be informed as professionals to offer all opportunities to the consumers; they look to us for guidance and knowledge. Continued on page 5
DARLENE DAVENPORT 2020 President
5 MUST HAVE APPS: This was a great topic. The opening remark was, “don’t be the app, be the app store.” One mention was a reality. When tamparealtors.org
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