Category: Orlando Realtors

Several hundred realtors in Orlando were recently asked if they still held open houses as part of the marketing strategy to get a house sold. From the dramatic response that was received, real estate agents were passionate about wanting to respond to the question about open houses.

The answer was [Drum Roll Please…] an overwhelming 58% said that open houses are a waste of time and don’t do them anymore. The other 42% said they were in favor of doing open houses and still used them as part of their marketing strategy. The survey also revealed another interesting set of facts, over 70% of participants hold between one and six open houses in an average month while the remaining 30% don’t do them at all.

As listing agents in Orlando, we do hold open houses for certain properties as part of our marketing plan, especially luxury homes. Planning an open house for an investment home or a teardown would be a waste of time as open houses are geared more toward the retail buyer.

It depends on the seller whether an open house will even be an option for marketing the home. Some sellers are very private and don’t even want their own neighbors to know that their home is for sale.

Other homeowners expect their realtor to schedule at least one open house in the marketing plan. These homeowners just want the property sold no matter what and couldn’t care less how many people parade through their house. Open houses are also great for getting buyer feedback about the property.

Promoting The Open House

The most popular way to promote an open house these days is obviously social media. The more friends and people you’re connected with, the better your chances of having a successful open house. Email campaigns printed materials, and even bandit signs with balloons are also used among most real estate agents in Orlando to ensure some activity at an open house.

Some realtors will even take things a step or two further by baking cookies, popping popcorn, and even hosting a wine tasting at the open house.

So at the end of the day, open houses are alive and well although the majority of agents don’t do them. I think whether they are worth doing or not depends largely on the listing agent and how good they are at marketing their open houses. If the agent can get a good crowd to show up, then it’s worth it. On the other hand, if an agent just plans on putting up a few bandit signs and balloons, then why even bother?

It’s been said by many that the millennial generation, people born between the early 1980s to the early 2000s, will represent over $1.4 trillion in buying power as they come into the real estate market. This group of young adults is soon expected to account for the majority of home sales in Orlando.

Millennials represent the very first generation to be raised from birth in the “Age of Information” making them more technologically advanced than any generation before them. Their vast knowledge of technology changes the way they search for Orlando real estate and how they communicate with real estate agents.

With their mobile devices in hand, millennials are always on the go. That’s why it’s crucial that Orlando real estate agents be mobile-friendly in the tools they use to communicate and deliver information to them.

Texting is a good example of this, over 90% of this age group prefer texting over speaking on the phone. In a real estate market where timing is everything, it’s important to know what the fastest way to reach someone is and for generation Y, texting is it.

Successful real estate agents in Orlando are quick to determine what their client’s preferred method of communication is from the very start of the relationship.

Apps Vs. Websites

A recent study done by Annalect revealed that 57% of the millennial generation would prefer to have an app experience overusing a website. Almost 70% of these young homebuyers used either a tablet or mobile app when they searched for homes to buy.

Mobile responsive sites and home search apps make it quick and easy for people to find exactly what they’re looking for with a minimal amount of clicks. The convenience of it all makes it very appealing to Generation Y.

Millennials also use social media as a preferred method of communication and finding information. An independent study conducted among 2,000 millennials between the ages of 18 and 35 check their smartphones 44 times per day on average.

Orlando Real Estate Through Social Media

The major players in their world are Facebook, Instagram, Twitter, and Pinterest.  As social media surpasses search engines and online news feeds, smart real estate agents in Orlando are going with the flow by providing valuable content through social media sites making it easily searchable by Millennials.

Millennials are impacting the way any business is done, including real estate. To reach this powerful age bracket of future buyers, Orlando real estate agents need to use the same tools as they do. Those who don’t will be left behind.

In an independent study done in 2014, over fifty-seven million Americans lived in multi-generation households 2013. That’s twice as much as in 1980! This rising trend can be attributed in part to families wanting to save money by sharing expenses.

The term “sandwich generation” comes from parents being sandwiched by their kids as well as their own parents. Although it’s not something I would ever do personally, many people not only enjoy saving money, but they actually enjoy being surrounded by their parents as well as their kids every single day…[I know, I don’t get it either]

From my own experience as an Orlando realtor, I’ve witnessed this trend firsthand. Now more than ever I’m seeing multi-generation families buying homes together. It can be a bit challenging when there are more than one or two adults involved, especially when they all have different opinions and tastes.

Finding The Perfect Orlando Home For A Multi-Generation Household

Starting with a family meeting is always a good idea. By speaking with all the adults at the same time we can determine what the specific needs are for each person and consider what options would work for everyone involved without having to make assumptions.

As the buyer’s agent, I must consider things like the floor plan and find out if they prefer an open floor plan or would a home with more distinctive living quarters for more privacy. With the older generation, second-story bedrooms can also be an issue if they have trouble climbing steps. Wheelchair accessibility may also be a concern for some families.

The location of the home must also be carefully considered. If grandpa needs to see his health care physician 3 times per week, they may want to be close to a hospital or public transportation. The same goes for the little ones, where will they be attending school? Does anyone play sports? How far are the parks?

Finding the perfect home for a multi-generational family can be challenging and usually takes much longer than finding a home for a single-family. However, if I wanted to be in a profession that was easy, I wouldn’t have chosen to become an Orlando real estate agent.