The state of real estate 

In the dynamic world of real estate, success isn’t just about closing deals, it’s about staying ahead of the curve and providing a top-tier client experience. Realtors have to work harder than ever to cut through the noise – like leveraging the latest in digital marketing, embracing home staging, or finding offline ways to connect with prospective clients. 

Read on for market insights and discover MOO’s recommendations to help real estate agents succeed in 2024 and beyond. 

The real estate market is growing at a rate of 4.49% every year

First up, let’s start with the state of the market and what that means for real estate. Here’s what the stats say:

• The Real Estate market in North America is expected to reach a value of $132.90tn by 2024
• By 2028, the predicted market volume is estimated to have grown by a further 19%

MOO view: As the market continues to soar, there will be increased competition between real estate brands, all vying for a slice of the pie. It’s crucial that your brand stands out. That means having a robust marketing plan and ensuring your branding and design are up to scratch.

New regulations mean greater transparency

In March 2024, the National Association of Realtors (NAR) and a group of homebuyers in a class action lawsuit reached a proposed settlement. The lawsuit accused the real estate industry of artificially inflating home prices through unfair commission practices. Seller’s agents will no longer have to offer to share their commission with buyers’ agents, uncoupling commissions from home prices and opening the door to a more competitive housing market. 

MOO view: Building strong relationships and providing customised services is an absolute must. IRL networking is one of the best ways to generate leads, forge connections, and get new clients, so check out real estate conferences and networking events near you. (And, of course, don’t forget to bring a stash of Business Cards along with you.)

Housing affordability continues to be an issue

Although it’s always been the American dream to own a property, the state of the housing market means that it’s a pipe dream for many people. With the disparity between household income vs house prices, many would-be homeowners are struggling to get into the market.

• House prices are 40% higher than they were in 2020
• As of February 2024, the median sale price for an existing home was $384,500 
• US property prices cost six times the median income

MOO view: To navigate the challenges of a high-priced real estate market, realtors need to build trust and offer real value to clients who might feel overwhelmed. Marketing materials can play a crucial role in achieving this. They serve as educational resources that help clients understand the market, financing options, and home-buying processes. Creating helpful infographics, useful guides, and informative brochures positions your real estate brand as a trustworthy advisor. 

The majority of homebuyers are educated and middle-aged 

Next, let’s look at who is buying property.

• The median age of homebuyers is 40
• 49% have at least a four-year degree 
• Their median annual income is around $96,590 – higher compared to the US population as a whole. 
• Two-thirds of home buyers are non-Hispanic, white, or Caucasian 
• Married or partnered people make up 70% of homebuyers
• Approximately 31% have children under the age of 18 living at home

MOO view: Real estate agents need to get inside the minds of their typical buyers and understand what they’re really looking for when purchasing a property. For instance, custom Flyers can highlight local schools, parks, culture, and other amenities in the local area. This approach helps potential buyers invest in a lifestyle, creating a stronger connection with the property and its surroundings.

Under-30s dominate the rental market

With global uncertainty, more people than ever are renting homes – whether through choice or necessity.  

• People under 30 make up 48% of the rental market
• 74% decide to rent long-term due to unaffordable house prices
• 27% choose to rent because they value flexibility and freedom
• As of May 2024, the median rent in the U.S. is $2,100 per month

MOO view: Realtors have a golden opportunity to diversify their services and adapt to changing market trends. Younger renters are more likely to use digital platforms to find rental properties. By incorporating QR codes into your marketing strategies, you can provide a seamless way for prospective tenants to access digital content, such as virtual tours and rental-specific content. (Check out our handy guide to using QR codes.)

Technology and home staging are integral to the buying process

Technology is revolutionising real estate, and virtual tours and online transactions are becoming the norm. This has changed how buyers and sellers interact, leading to more digital-first experiences. And that’s why home staging is more important than ever. 

• 48% of sellers’ agents agree that staging helps reduce the time it takes for a home to sell
• 72% of buyers say that 3D tours offer a more immersive experience, helping them understand the layout better than static photos
• 67% want 3D tours included in listings
• 81% of buyers’ agents agreed that home staging helps make it easier for potential buyers to envision the property as their future home

MOO view: As the real estate market has a strong digital-first approach, it’s important that realtors also invest in their offline marketing. Give clients something tangible to remember you by – like print products and branded merchandise. You could create Postcards full of useful tips on home staging and preparing a home for sale or gift them a useful item like a branded custom Water Bottle. It’s all about creating connections in a digital world and keeping your brand top of mind.

Ready to make your mark in real estate?

Stand out in a crowded market and attract both buyers and sellers alike with elevated print from MOO. Our Flyers and Postcards are powerful tools for direct marketing, allowing you to showcase recent sales and highlight your expertise in the local area. And our Presentation Folders offer a sleek and polished way to organise and present all your important documents.

Let our expert team help by streamlining your businesses’ ordering process or by helping to bring your next print campaign to life. Fill in the form below and one of our skilled account managers will be in touch soon.