How effective are the different marketing options out there for you as a real estate professional? What are other Realtors spending money and time on that you aren’t…but perhaps should be?

Over 600 real estate agents and brokers completed the HomeGain Realtor Marketing Survey this month, giving us insight into this year’s top marketing strategies for acquiring new business.

Top 10 Effective Marketing Strategies for Realtors*:

1. Referrals (Scored 8.9 out of a possible 10)
2. Leads From Broker (6.0)
3. Events (Open Houses, Fairs, etc.) (5.3)
4. Featured Listings (5.0)
5. Email Campaigns (4.7)
6. Postcards/Mailers (4.6)
7. Social Networking (4.3)
8. Craigslist (4.2)
9. Online Lead Generation Services (4.1)
10. Print Ads (4.0)

* (1 = Least Effective /10 = Most Effective; Final scores are rounded up or down)

Surveyed agents indicated that they think referrals is the most effective strategy for acquiring new clients, with a score of 8.9 out of a possible 10 for effectiveness, compared to 8.7 earlier this year. Similarly, they also indicated that they will continue to focus on referrals as their leading marketing strategy for the remainder of 2010.

The next two most effective strategies were new additions to the survey results — Leads from the broker and events, which includes open houses, fairs, etc. Craigslist was also a new addition not seen on the previous two surveys.

The survey revealed the lowest most effective marketing strategies, in order: Craigslist, online lead generation services and print ads.

Five marketing strategies that did not make the top 10 most effective marketing strategies list, in order of score highest to lowest were: outdoor ads (4.0), YouTube / video sites (3.8), blogging (3.6), banner ads (3.4), and pay per click (3.1).

2010 Marketing Goals

Surveyed agents indicated that they would like to focus on top marketing strategies — referrals, leads from their brokers, and participate in more real estate focused events.

Top 10 Marketing Objectives for Realtors in 2010**:

1. Referrals (Scored 8.8 out of 10, most likely to use)
2. Leads From Broker (6.2)
3. Events (5.8)
4. Email Campaigns (5.4)
5. Postcards/Mailers (5.0)
6. Featured Listings (5.1)
7. Social Networking (4.8)
8. Craigslist (4.8)
9. Print Ads (4.6)
10. YouTube / Video Sites (3.7)

**(Cumulative Averages, 1 = Least Likely to Use / 10 = Most Likely to Use)

Five marketing methods that did not make Realtors’ top marketing objectives for 2010, in order of score highest to lowest: online lead generation (3.6), blogging (3.6), banner ads (3.4), outdoor advertising (2.7), and pay per click (2.3).

HomeGain conducts regular surveys of Realtors, including the HomeGain Home Improvement Survey and the quarterly HomeGain Home Prices Survey. The 2010 1st quarter HomeGain Home Prices Survey results will be announced in two weeks.

HomeGain’s AgentEvaluator marketing program helps Realtors build their referral pipeline.

AgentView online marketing program provides real estate agents with several of the top 10 most effective marketing practices for reaching potential new home buyers and sellers in an all-in-one, exclusive and ad-free platform.

Real Estate Agents Cautious on Direction of Home Prices

HomeGain®, one of the first websites to provide free instant home values, today announced the results of its nationwide home prices survey of over 1,400 current and former HomeGain  members.

The results of the HomeGain First Quarter 2010  Home  Prices Survey indicates that the vast majority of real estate professionals nationwide believe that home prices will decrease or stay the same over the next six months.

General Manager at HomeGain, Louis Cammarosano, stated in the March 23rd press release: “In the first quarter survey many real estate professionals expressed concern over five factors that could potentially impact home prices adversely: rising interest rates, expiration of the home buyer tax credit, persistent unemployment, continued foreclosures and the release of shadow inventory held by the banks.”

Texas real estate professionals appear to be the most optimistic about the direction of home prices in their state, while those in Minnesota appear to be the least optimistic.

Top 10 States Where Real Estate Agents and Brokers Think Home Prices Will Go Down In the Next Six Months:

1. Minnesota (82%)
2. Oregon (65%)
3. Illinois (54%)
4. Utah (50%)
5. New York (44%)
6. New Jersey (44%)
7. Nevada (43%)
8. Michigan (42%)
9. Connecticut (42%)
10. Washington (35%)

Top 10 States Where Real Estate Agents and Brokers Think Home Prices Will Go Up in the Next Six Months:

1. Texas (41%)
2. Massachusetts (38%)
3. California (37%)
4. Nevada (36%)
5. Idaho (31%)
6. Colorado (31%)
7. Alabama (25%)
8. Tennessee (25%)
9. Arizona (23%)
10. Indiana (22%)

We also asked real estate professionals of whether they approved Obama’s performance as President. Fifty-eight percent disapproved while 42% approved. Forty percent “strongly disapproved” of the President’s performance.  A comparison with the Rasmussen Daily Presidential Approval Index during the same time period (March 3-10) shows the President’s disapproval rating between 53-56%.

The results of the survey also show a continuing disconnect between what home buyers and sellers think homes are worth. Sixty-three percent of potential home buyers think that homes are over priced with only 21% believing that homes are fairly priced.

Seventy-seven percent of home sellers believe their homes are worth more than their agents’ recommended selling price.

The survey was conducted from March 3-10.

View the HomeGain 1st Quarter 2009 Home Prices Survey. View all prior HomeGain national and state home prices surveys.

The first quarter 2010 regional results are available by clicking here.

Questions and National Results:

1. Have home prices increased, decreased or stayed the same in the last year?
2. On average, what do homeowners believe that their home is worth?
3. How do buyers feel that homes for sale are priced?
4. What is the average difference in price between what sellers believe their home to be worth and the amount at which the home gets listed?
5. What is the average difference in price between what a home is listed at and what a home sells for?
6. In the next six months, will the values of homes in your market increase, decrease or stay the same?
7. What percentage of homes for sale are foreclosures in your area?
8. What is the average home price in your area?
9. What percentage of your clients are first-time buyers?
10. How do you as a Realtor think Barack Obama is performing in his role as President?

Continue reading this post

First Time Home Buyer Tax Credit Spurs Sales/Stabilizes Home Prices

HomeGain, one of the first websites to provide free instant home values, today announced the results of its nationwide home prices survey of nearly 1,000 current and former HomeGain Realtor® members.

The results of the fourth quarter HomeGain Realtor Survey on Home Prices published below show generally that since the first quarter HomeGain Realtor Survey on Home Prices, HomeGain members are of the opinion that home prices are stabilizing and will continue to do so.

Seventy-two percent (72%) of HomeGain members believe that home prices will remain the same in the next six months, up slightly from the 69% of HomeGain members who so believed in the third quarter survey. In the first quarter survey just 46% of HomeGain members believed that home prices would increase or remain the same with only 11% thinking home values would increase.

According to the recent survey, HomeGain Realtors said that 37% of home buyers believe that homes for sale are fairly priced or under priced vs. 36% who believed the same in the third quarter and 36% who believed the same in the first quarter. Conversely, 41% of homeowners think that their homes should be listed 10-20% higher than what their Realtors recommend, up from 38% in the third quarter and up from 36% in the second quarter survey.

The first time homebuyers credit has helped drive sales with 21% of Realtors saying half of their transactions involved a first time homebuyer and only 11% of Realtors noting that none of their transactions involved a first time homebuyer. While the credit has clearly helped Realtors, many expressed concerns over the cost of the credit to tax payers and whether sales would continue once the credit expires later next year.

We also asked our members whether they approved or disapproved of President Obama’s performance so far — 42% approved and 58% disapproved, unchanged from the third quarter and down from the second quarter when the President’s approval rating stood at 57%. The results of the HomeGain poll are substantially similar to the nationwide results of the Rasmussen Daily Presidential Approval Rating Tracking Poll conducted during the same time period as the HomeGain poll that showed the President’s approval rating between 46% and 47%. (Read full press release)

“The fourth quarter HomeGain Home Prices Survey of Realtors shows that Realtors believe that the first time home buyers tax credit has driven sales and stabilized home prices, for now. Realtors, however, expressed concerns about the cost of the credit to tax payers and whether sales will continue once the credit expires later next year and additional inventory hits the market,” stated Louis Cammarosano, General Manager at HomeGain. “The vast majority of Realtors expect prices to remain the same or increase in the first six months of 2010.”

The HomeGain 4th Quarter 2009 Realtor® Survey on Home Prices was conducted from December 1-6.

Questions and results of the fourth quarter 2009 HomeGain Realtor® Home Values Survey (click on each question to see complete results):

1. Have home prices increased, decreased or stayed the same in the last year?
2. On average, what do homeowners believe that their home is worth?
3. How do buyers feel that homes for sale are priced?
4. What is the average difference in price between what sellers believe their home to be worth and the amount at which the home gets listed?
5. What is the average difference in price between what a home is listed at and what a home sells for?
6. In the next six months, will the values of homes in your market increase, decrease or stay the same?
7. What percentage of homes for sale are foreclosures in your area?
8. What is the average home price in your area?
9. What percentage of your clients are first-time buyers?
10. How do you as a Realtor think Barack Obama is performing in his role as President?

Continue reading this post

HomeGain.com recently conducted its third nationwide home improvement and home staging Home Sale Maximizer™ survey (previously conducted in 2003 and 2007) to reveal the top 12 low cost*, do-it-yourself (DIY) home improvements for people getting their home ready to sell.

Nearly 1,000 REALTORS® responded to the survey. (See complete survey results)

Referring to the charts below, the top home improvement per region by return on investment (ROI) is:

• Home Staging (West and South)
• Clean and Declutter (East and Mid-West)

Lightening and Brightening is the 2nd most popular home improvement project in all regions that Realtors recommend to home sellers, except for in the Mid-West, where Landscaping takes 2nd place.

By price increase, the top home improvements are:

• West: Updating Kitchen and Home Staging (Tie for $2,500 each average home price increase)
• East: Updating Kitchen (average of $3,500 price increase) followed by Painting Interior Walls and Painting Outside of Home (Tie for $2,500 each in average price increase)
• South and Mid-West: Updating the Kitchen (average of $2,500 price increase)

The top most recommended home improvement Realtors advise their seller clients are:

• West and East: Clean and Declutter (98%)
• South: Clean and Declutter, Lighten and Brighten, Replace or Shampoo Carpets (all tie with 98% recommendations)
• Mid-West: Paint Interior Walls and Replace or Shampoo Carpets (both tie with 99% recommendations)

Complete Regional results are as follows: Continue reading this post

Last week we met with Realtor® survey respondents and members of the press to discuss the results of the Q3 Home Prices Survey of Realtors on HomeGain Radio.

If you didn’t have a chance to attend, listen to it here:

A Taste of HomeGain Realtor Member Participant Comments:

Mitch Ribak in Florida – “The last 3 months look like home prices are stabilizing, although a significant number of homes are still overpriced, and inventory is shrinking from 8,000 to about 4,500 in the Melbourne area.”

Gary Belhumeur in Colorado – “REO properities were dragging down the Denver market. As banks slowly release them, it’s helping stabilize things.” Continue reading this post

President’s Approval Rating Plummets Among Real Estate Professionals

HomeGain, one of the first websites to provide free instant home values, today announced the results of its nationwide home prices survey of nearly 1,100 current and former HomeGain Realtor® members.

The results of the third quarter HomeGain Realtor Survey on Home Prices published below show generally that since the first quarter HomeGain Realtor Survey on Home Prices, HomeGain members are of the opinion that home prices are stabilizing and will continue to do so.

Sixty-nine percent (69%) of HomeGain members believe that home prices will remain the same in the next six months down slightly from the 71% of HomeGain members who so believed in the second quarter survey.

In the first quarter survey just 46% of HomeGain members believed that home prices would increase or remain the same with only 11% thinking home values would increase.

According to the recent survey, HomeGain members think that 36% of home buyers believe that homes for sale are fairly priced or under priced vs. 36% who believed the same in the second quarter and 43% who believed the same in the first quarter. Conversely, 38% of homeowners think that their homes should be listed 10-20% higher than what their Realtors recommend up from 36% in the second quarter and down from 45% in the first quarter.

In short, buyers still expect bargains and sellers still believe their homes are worth more than buyers think they are and more than what their Realtors are telling them they are worth.

We also asked our members whether they approved or disapproved of President Obama’s performance so far — 42% approved and 58% disapproved. These results reflect a significant decline in the President’s approval rating which stood at 57% among HomeGain members in the second quarter. The results reflected a departure from the nationwide results of the Rasmussen Daily Presidential Approval Rating Tracking Poll conducted during the same time period as the HomeGain poll that showed the President’s approval rating between 47% and 49%.

The HomeGain 3rd Quarter Realtor® Survey on Home Prices was conducted from August 11-17.

Here are the complete results of the third quarter 2009 HomeGain Realtor® Home Values Survey, including real estate agent commentary. Continue reading this post