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Homesnap's New 'Sell Speed' Tool Predicts How Quickly a Home Will Sell at Different Price Points
Homesnap on Monday announced the debut of Sell Speed, a proprietary artificial intelligence algorithm composed of hundreds of up-to-the-minute real estate market data points that predicts how quickly a home will sell at various prices. This new feature gives agents confidence in recommending price levels in a rapidly-changing real estate environment. Currently available in beta to Homesnap Pro and Homesnap Pro+ users, Sell Speed helps agents better understand their market and develop pricing strategies. Agents can view the Sell Speed of their current listings or any off-market property. With Sell Speed, agents can: Advise sellers on pricing strategy and likelihood to sell: Agents can use Sell Speed to help their clients set realistic goals and expectations about the price their home can command. Agents can illustrate how price variations affect the timeliness of an offer and guide their clients toward striking the ideal balance between asking price and days on market. Enhance listing presentations with pricing insights: Agents can use Sell Speed to identify the ideal property list price for an off-market property. By arming themselves with accurate, data-driven pricing models based upon proven market predictors, agents can win more listings. Use Sell Speed to assist buyers in negotiations (Pro+ agents only): Homesnap Pro+ agents can access the Sell Speed on any listing – even if they are not the listing agent. Pro+ agents can leverage Sell Speed as supporting evidence to prepare offers and facilitate negotiations. "In this intense housing market, pricing homes accurately is more important than ever. Sell Speed was designed to help Homesnap agents amplify their market knowledge both to keep their current clients informed and at ease and to secure potential clients," said John Mazur, Homesnap CEO. Agents can adjust a home's price up to 30% in either direction of the list price or estimated home value. As the price is adjusted, the selling probability timeframe dynamically updates to produce the estimated time in which the property will sell. Unlike other price-predictor tools that can cause confusion with clients and home searchers, Sell Speed is not consumer-facing and is available only to Homesnap Pro agents. "We consider Hundreds of data points to produce the Sell Speed of a home," said Guy Wolcott, Homesnap Founder. "Homesnap's proprietary machine learning algorithm takes current market conditions, similar listings, recent sales, buyer activity and listing agent behavior among others into account to produce the Sell Speed." The Sell Speed agent tool is currently in beta and available on web, iOS and Android devices to registered Homesnap Pro agents. For more information, visit www.homesnap.com.
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Friday Freebie: Lead Generation and Marketing Budget Calculator Tool
Has your real estate sales funnel been derailed by COVID-19? How about your budget? Everyone's been thrown a bit off by the pandemic, and most of us need to reevaluate the goals we set for ourselves at the beginning of the year. If you need help getting back on track, this week's Friday Freebie is for you! Free Lead Generation + Marketing Budget Calculator tool, courtesy of Zurple We've said it before, and we'll repeat it again: A goal without a plan is just a wish. And to create a solid plan, you need to crunch some numbers. Or, in this case of today's Friday Freebie, let this free budget and lead generation calculator do it for you. Zurple is offering RE Technology readers a free tool that lets you set your desired gross commission income goal, and then see how many leads and closings you'll need to reach that goal. This tool also calculates the marketing budget you'll need to meet your goal, factoring in various individual lead generation sources, like your website, digital ads, referrals, email, social media, and more. Zurple's Lead Generation and Marketing Budget tool helps you: Estimate the amount of leads and closing required to hit your Gross Commission Income (GCI) goal based on the national average and your historical conversion rates. Projects your marketing expenses based on your conversion rates so you can budget appropriately. Track your lead generation results so you can compare them to your goals. Ready to get your 2020 goals back on track? Download Zurple's FREE Lead Generation + Marketing Budget Calculator tool now!
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Homesnap Launches New Net Sheet Calculator: Tell a Seller How Much They Could Make Today
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Impact of the Absorption Rate in Real Estate
Absorption rate can sound complicated, but it's a really simple calculation used across the real estate industry to determine the number of homes sold versus the number of homes available. It is mostly commonly used to determine conditions like "a seller's market," and can be critical for builders and other industry professionals, along with the regular buyer and seller. What Does Absorption Rate Tell Me?
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10 Things You Probably Didn't Know Google Could Do for You
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Find the Local Market that Offers the Best Growth Opportunity
Selecting and working in the wrong local market is a costly mistake that many real estate professionals make. But with some background knowledge, it's an error that you can avoid. If you selected your current Local Market based on the following factors, you may want to reconsider (and we will show the tools to do this, below): I live in this neighborhood; I like the area, the homes are nice; Other agents are marketing there, so I should too; I've got a listing there The reasons for choosing a local market area above aren't wrong, but they shouldn't be your sole reasoning. In this article, we'll look at how to select the best Local Market area—one that you can master (and be profitable in). To achieve this, we'll need to do some calculations (which we will walk you through step by step). Learn how to: Calculate the opportunity of a geographic area; Calculate the potential future opportunities of a particular market area; Look at other variables that will affect the Local Market you choose. To get started, grab a calculator, a pad of paper, and a pen. Let's get started!
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How to Set Your Goals Now for More Commissions in 2017
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What is a real estate client really worth to you? (Hint: it’s more than you think!)
As a real estate agent, you get paid by commission. This commission is the culmination of a lot of hard work: marketing your business, securing the client, promoting the property, negotiating the sale. So it stands to reason that you would put a value on that client equal to the commission you earned on the transaction, right? Wrong. Your client is worth more to you than that. Because the value of that client shouldn't be based on one transaction. It should be based on the relationship you have going forward, over its lifetime. The Lifetime Value of a Client (LTV) is a real, calculable figure that takes into consideration several factors: Age of your client Average years in a home Repeat business Referrals
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Weekly Video Tip: Golden Hour Calculator
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