Year-over-Year Increase in Listing Inventory Signaling Growing Consumer Confidence
PARSIPPANY, N.J. (March 26, 2012) – Spring typically marks the beginning of the real estate busy season but with this year’s mild winter, real estate professionals across the country are seeing signs of earlier than normal spring activity.
ERA Real Estate, a leading global real estate franchisor, recently conducted a nation-wide survey of its brokers and agents to gauge the effects of a tame winter and to determine if the weather was playing a role in increased activity in their markets. The answer is a resounding yes:
- 74 percent of brokers and agents expect the spring selling season to start early
- 53 percent are already seeing a year-over-year increase in listings
The majority of those surveyed expect to see the market pick-up in March while 53 percent indicated the norm for spring selling season doesn’t take place until April. ERA® brokers and agents attribute warmer weather as one of the top reasons for an early home buying season along with attractive interest rates and an improving economy.
“This year’s mild winter has impacted a number of industries, including real estate,” said Charlie Young, president and CEO of ERA Real Estate. “With more than half our brokers and agents seeing an increase in listings over the same period last year, we are optimistic the early spring, combined with increased consumer confidence and decreased unemployment rates, could create much needed momentum in real estate markets across the country.”
The survey also examined open house habits of ERA broker and agents including what music they use to set the mood, if any. Classical (30%) and jazz (27%) proved most popular as background music during open houses.
While many in the real estate industry are split on whether or not leveraging open houses is still an effective way to attract buyers, ERA brokers and agents provided the following tips for those going the open house route:
- Create a homey environment: It may seem hokey but baking cookies, setting mood lighting and having a clean house are no-fail ways to invite potential buyers into a home.
- Gift giving: Some brokers find it effective to give a small gift to guests for registering at the open house.
- Space is key: Allowing guests to view the home in a pressure-free atmosphere can set the right tone.
- There’s no ‘I’ in team: Partnering with other local agents and brokers to show similar listings on the same day goes a long way in showing clients that you want the best home for them whether it’s your listing or another agent’s.
Methodology: ERA Real Estate conducted an online survey of its real estate professionals across the United States about spring selling season in their markets. The survey was fielded between February 23, 2012 and March 7, 2012, and the results are based on responses from 173 individual brokers and sales associates.
About ERA Real Estate
ERA Real Estate is an innovative franchising leader in the residential real estate industry with 40 years experience in developing consumer-oriented products and services. The ERA® network includes approximately 30,000 brokers and sales associates and approximately 2,500 offices throughout the United States and 34 countries and territories. Each office is independently owned and operated. ERA Real Estate is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. ERA Real Estate information is available at: ERA.com.