The market is changing. Prices in the largest U.S. cities have stalled out for the first time in 8 years, mortgage applications are dropping and even incredibly low interest rates haven’t been enough to lure buyers back to the market, according to a new report by UBS Global.
Is this the beginning of the end for real estate? No – but it’s a clear market signal that it’s time to streamline your business, improve your processes & reduce overhead to prepare for a more competitive market. One great way to do this is hiring a real estate virtual assistant for office administration, prospecting, marketing, or transaction coordination tasks to build your production volume regardless of market conditions. Schedule your Double My Business Strategy Session to find out how!
According to UBS Global, “Index scores have not risen in any of the US cities in our study for the first time since 2011. Regulatory changes and affordability issues have caused home prices in New York to lag the countrywide average. Similarly, affordability issues, trade tensions and diminishing foreign demand have capped price growth in San Francisco and Los Angeles for now. Boston is still in fair value territory and benefits from the appeal of the region for businesses and high income earners. Chicago is undervalued but continues to lag far behind given its increasing fiscal challenges.”
“The worldwide collapse in interest rates will not come to the housing markets’ rescue. Mortgage interest rates in many cities aren’t the major challenge for house buyers anymore,” said Claudio Saputelli, head of real estate at UBS Global Wealth Management, “Many households simply lack the funds required to meet the banks’ financing criteria, which we believe poses one of the biggest risks to property values in urban centers.”
Market Change Isn’t The End Of The World
Don’t panic! Remember, real estate is cyclical – and if the UBS report is correct, today’s market stagnation is only a signal that we’re moving from a seller’s market back to a buyer’s market. This will mean that the market will become more competitive – but it will also allow better agents & brokers to thrive while their less experienced or prepared competitors learn some hard lessons about tightening their belts.
So don’t panic – but do be prepared. Take a hard look at your real estate business. Is your lead-generation & follow-up in place and functioning efficiently? Are you regularly prospecting the contacts in your database? Are you effectively updating all your listings – especially now that price cuts may be on the horizon?
When sales stagnate, competition for buyers increases – meaning that you have to be on your game to stay ahead of other agents & brokers in your area. Go through your business and trim unnecessary expenses, and go through your processes & find ways to optimize them in order to be ready for the changing real estate market.
The Time Is Now To Hire A Real Estate Virtual Assistant
Providing better service and drilling down on your lead-generation, marketing & production pipeline is never easy – and doing it when sales are slowing can be even more challenging. There is a solution, however: economic market change like this is the perfect opportunity to begin working with MyOutDesk Virtual Assistants.
MyOutDesk has over a decade of experience delivering the highest quality mortgage & services , and we’re proud to be the #1 outsourcing provider for quality, reliable real estate virtual assistants. Add the lead-generation, office administration, marketing support, and even transaction coordination expertise to your business that you desperately need – and do it for 60% less than the cost of full-time staff.
Increase your capabilities & reduce costs with a virtual assistant today – and begin to quickly outpace your competitors because they don’t have inexpensive, high-quality VA’s helping them stay on top of the market. Remember, only MyOutDesk deploys a stringent talent-matching process that’s unmatched by any other virtual assistant services provider in the market – letting us provide you with the highest quality virtual assistants available, bar none.
In fact, out of over 150 applications per day, only 2.2% are hired and endorsed to outsourcing clients like yourself. We do an FBI-grade background check, a detailed personality screening assessment, and thorough education & experience review as well – all before you even meet the candidate.
We’re the only virtual assistant company specializing in white-glove services and support the growing needs of mortgage & real estate businesses, with a focus on ensuring the confidentiality, security & trust of our clients and partners.
Create your hedge against market change today by learning how a virtual assistant can help your real estate business thrive in any market conditions. Schedule a free Double My Business Strategy Session to learn more!