The news stories which could impact the real estate community do not always show up in the Real Estate news. Another case in point today. I see where Google News is embarking on a mission to compile archives from local newspapers across the U.S. and Canada and have articles going back years and years available when searching only on Google. Word is that this will be starting in the very near future and that Google hopes to have these massive archives completely available within a year.
How does this impact the real estate community? It can if you want it to. Keep in mind there is now a new generation of potential first time buyers. They don't remember when mortgage rates were in double digits and homes were selling within days of being listed. What they know is now, and as I have been pointing out, it is way too much on the negative side.
Being able to archive a local or regional newspaper going back for many years will enable you to show the "first time buyer generation", or FTBG's as I will name them, how things used to be around here. Show them a "(local) Journal" article from 1990 about real estate in your area. Or whatever positive spin you can put on it. You will have the ability to go back to your best year in the business - and find stories to support your "new" selling tools.
Right now, your potential clients are probably comparing mortgage rates and closing costs to two or three years ago. And YOU lose in that comparison. Starting very soon, I'm going to make certain that my clients benefit from this wonderful Google feature, and let these same potential clients compare to when mortgage rates were over 15% and homes were selling.
The market is not terrible. It is how YOU present it to your potential clients.
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