Knowing What Buyers Are Searching For

It is noteworthy that, per the below linked story, more and more people are performing searches for helpful information about mortgage rates and seeking help in dealing with them. The trend reflects the number of people staying put, whether because of uncertainty, not being able to afford to move, or simply waiting for rates to go back down.

From a marketing standpoint, there is a lot to digest from this. One is that monitoring popular searches can create opportunities for finding and filling gaps for products and services, whether related to real estate or not. When it is real estate related, there are often multiple ways to interpret search trends. 

Let’s use the mortgage rates searches as an example. If you are looking to buy a property (whether for a residence or investment), this trend could have an impact on your thinking in a different way. Since a lot of people continue to be hesitant, it means that by acting now you likely face less competition when bidding or negotiating. If you are looking to sell now, your marketing should reflect urgency. Many of the people and groups that are delaying a buy don’t understand that most of the “good deals” out there will disappear the minute rates drop. Buying now, even at higher rates, brings the ability to refinance when the time is right and take better advantage. 

Although a seller can’t come out and say “We’ll be asking a lot more when rates drop”, urgency can come from other angles. It could be a strategy like “In time for the semester” if in a good school district or in proximity to a college or university. Perhaps pointing out tax implications of buying “by the end of the year” would help. Maybe a “unique opportunity” that “once it’s gone, it’s gone” approach would help.

There are times when solving a problem creates opportunity, just as creating opportunity can solve a problem. Quite often, being “first in” brings a huge advantage in negotiations. When you find out what people are searching for, do your best to help those people find a better solution. A little research, with the right person or team on your side, can go a long way!

  

https://www.newsweek.com/help-with-mortgage-searches-are-highest-since-housing-market-crash-10819230