Not Buying a Home Could Cost You $65,000 a Year? A marketing gift for you…

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If  you’re in real estate, Realtor.com and Bloomberg just gave you a marketing gift.

Realtor.com recently published an article highlighting how costly it can be for a home buyer to wait to buy a home. You can find the Realtor.com story at this link. Bloomberg ran a story off of the article and you can find it here.  I absolutely love news stories like these two. They can be extremely helpful for your business, IF you use them to your advantage. Unfortunately, most real estate professionals don’t jump on these opportunities. 🙁

According to Bloomberg…

“The estimated cost of waiting (to buy a home) one year was $61,805 in San Jose and $65,780 in Santa Cruz. Over the course of 30 years, homeowners save more than $1 million in Santa Cruz, the largest amount of any U.S. city.”

Put your marketing hat on for a second and think about how you might be able to use something like this to your advantage?

Not buying a home this year may cost you $1,000,000!
It will cost you $65,780 if you wait just ONE year to buy a home!

The article on Realtor.com reports:

Even with all of the costs of buying a home, you still stand to save more than $200,000 over the next 30 years IF you buy right now.

“There’s a financial benefit – and, similarly, a financial penalty -for every single day you pay your landlord instead of your mortgage company”

“We’re at a critical juncture: Rents, home prices, and mortgage rates are all expected to rise significantly over the next several years. That means the cost of delaying homeownership will go up even more sharply, if you wait three years or even one.”

Pure gold!

Obviously these calculations vary by area. Depending on your market, you might consider using this article to your advantage. You can summarize the article and provide your own calculations for your area. Make sure to compound the annual savings for buying a home over 30 years as they did in their article.

There is a second news story you might want to think about, too. This story is reported in Marketwatch and you can find it here. You’ll see the various reasons why younger home buyers are not buying homes. The home buyer challenges differ by area, but the top three reasons are:

1. Can’t afford the down payment.
2. Student loan debt.
3. Credit card debt.

The reason why I’m suggesting you think about these home buyer challenges is because you may be able to increase your home sales by helping buyers in your marketplace solve these three problems. One of the best business moves you can make is to design your business so you’re helping your customer/client solve their biggest problem and these are the biggest problems for younger home buyers.

Remember this advice from Zig Ziglar?

“You can have everything in life you want, if you will just help enough other people get what they want.”

Oh by the way, I’m releasing a new done-for-you content marketing report along with several lead generation tools this week for my Marketing Department Members. This month’s marketing campaign is designed to attract and convert home buyers and it is designed to help buyers solve the three home buying challenges reported by Marketwatch. This new marketing campaign actually includes one of the best lead generation advertisements I’ve tested in the last two years! If you work with home buyers and would like to use this campaign in your business, become a Done-forYou Marketing Department member here.

Yes, I’m trying to help you solve your biggest challenge! 🙂

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