Insights from Ohio Realtors President Michelle Billings on Current Market Trends
In the latest episode of the RealTrending podcast, host Tracey Velt engages with Michelle Billings, the President of Ohio Realtors, and an experienced agent from Coldwell Banker Realty in Montgomery, Ohio. Together, they delve into pressing affordability challenges in today’s real estate market and explore effective strategies for real estate professionals.
Current Trends in the Real Estate Market
During their conversation, Billings identified affordability as a significant trend affecting today’s housing market. “The biggest thing we’re seeing is affordability, and we’re watching how that plays out,” Billings noted. She elaborated that the disparity between increasing housing costs and stagnant income growth is exerting pressure on the market, highlighting the urgent need for policy changes and interventions to address these issues.
Billings also pointed out the evolving landscape of the real estate industry due to heightened access to market data. As consumers become more informed, the role of real estate professionals has been forced to adapt. “The acceleration and adoption of technology have changed everything from how properties are shown and marketed to transactions,” she stated.
Strategies for Real Estate Professionals
In a competitive market, Billings emphasized the importance of returning to fundamental practices. “Building those relationships and being proactive and communicating with them at an early stage of the transaction is key,” she advised. In light of the recent slowdown in market pace, focusing on strong relationships can pave the way for future success.
Marketing with Impact
Billings urged agents to structure their marketing around life transitions rather than merely the process of moving. “Now, people don’t wake up and decide to move. They have things going on — they’re getting married, having kids, or changing jobs,” she explained. Creating content that resonates with these pivotal moments can effectively engage potential clients.
Building Meaningful Relationships
For agents aiming to strengthen their relationships with clients, Billings highlighted the power of social media. “Social media is very important. I’m often looking at social media and I’m taking those conversations off social media,” she shared. By identifying significant life events among clients—such as engagements or illnesses—agents can foster deeper connections by reaching out personally.
She stressed the need for intentionality in these efforts. “You must time-block and make a choice. Either you’re going to stay focused and be consistent, or you’re going to allow distractions to lead you astray,” she said.
Differentiating in a Changing Market
Concluding the discussion, Billings offered advice for agents seeking to stand out and communicate their value in an evolving real estate landscape. “Be authentic in your approach, and share real outcomes,” she recommended. This involves storytelling about specific client experiences rather than simply citing sales numbers. She encouraged agents to leverage the voices of past clients, suggesting that testimonials from satisfied customers are often more credible than self-promotion.
Final Thoughts
In a transforming real estate market, agents who focus on affordability, embrace technology, and maintain strong personal relationships are likely to thrive. Through authentic engagement and strategic marketing, they can navigate the complexities of the current environment and better serve their clients’ needs.
