The Calgary Real Estate Board (CREB®) has some sobering statistics. In October (2018), inventory sat at 7,345 and sales at 1,322, putting the supply level above what is typical for that month. October was a snap shot of 2018 – inventory grew, but sales did not. This caused prices to continue to fall (which they had for five consecutive months as of October).
What is driving the tough home market in Calgary?
In a November report, CREB’s Ann-Marie Lurie, chief economist, pointed out, “Job growth in this city remains a concern, as unemployment levels remain well above levels expected for this year. Rising costs of ownership also continue to weigh on housing demand. At the same time, housing supply levels are not adjusting fast enough to current conditions, resulting in price adjustments.”
Simply put, Calgary is still reeling from the latest energy crash and other economic factors. There are more people wanting to move out than there are people looking to move in. The result is high inventory and a lack of demand – not an ideal scenario for Realtors®.
However, not all is lost. Inventory may be moving slowly, but it is moving. Now is the time for forward-thinking Realtors to leverage available opportunities to get through this tough home market in Calgary.
Steps to overcoming a tough home market in Calgary
When the going gets tough, the competition gets fierce. As a Realtor, you need your image, your brand promise, and your listings to stand out.
- Increase Advertising: Families and individuals looking to buy a home in Calgary have no shortage of Realtors at their disposal, so you need to stand out to be noticed. This means, advertising. Market yourself and market your business. The traditional routes of bus benches and newspaper ads work well, but also look further afield – maintain a social media presence, leverage SEO, write a weekly blog with tips for sellers. Put your name front and centre so when homeowner are ready to buy, your name comes to mind.
- Have a Great Reputation: Home buying can be emotional and stressful. Buyers want a smooth process. Now is the time to show off your glowing testimonials and awards. It’s not just happy buyers and sellers who can endorse you. You can also promote the Realtor’s associations that you belong to, and the fact that you follow industry guidelines, such as only using RMS measurements when selling a home.
- Make Your Listings Stand Out: Before your buyers come to you, they have seen homes they are interested in on the MLS® or on your social media pages. Make your listings stand out with accurate RMS measurements, HDR photography, drone aerials, 3D imaging, and virtual staging. The more buyers know about the property before they visit it, the more likely they are to only view properties where a serious offer is likely. Leveraging the list boosters noted above not only makes your listings stand out, it improves your overall efficiency and gives you, the buyer, and the seller a better experience.
- Save Money on the Services that are Crucial to your Business: To survive a tough home market in Calgary, you must tighten your business spending – but you must also spend and market like never before… how is this possible? Look for companies invested in your success. Such companies will offer business-friendly pricing to help you remain competitive.
Urban Measure is a company dedicated to your success. Read on to find out how we help you overcome the tough home market in Calgary by offering tiered pricing to suit any budget.
Urban Measure’s Pricing for the Services you Need
Urban Measure is Calgary’s one-stop-shop for proactive Realtors. We offer floor plans, RMS measurements, photography and video, and Matterport 3D and staging.
All of our services feature tiered pricing, so Realtors can select exactly what they need, and not pay for any unwanted services. For example, our RMS measurements are available in an express service, standard service, blueprint to RMS conversion, or BOMA measurements for lease properties. By targeting the services Realtors use the most, and then breaking them down into packages instead of just a per-hour price, we save Realtors hundreds of dollars. In fact, our RMS services start at just $89!
Our HDR photography and drone service is also tiered. In addition to express, standard, and premium packages, Realtors can select drone-only aerials, twilight-only photography (a cool way to showcase a beautiful property), and spring/exterior only photos to update a listing that was photographed during the winter. With our photography packages starting at only $99, Realtors can truly maximize savings while achieving great results.
Urban Measure is Here to Help
The tough home market in Calgary can be discouraging, but as a Realtor you know that market trends rise and fall. Proactive Realtors weather each hurdle by being prepared, remaining visible, and saving money on important services.
Urban Measure is on your side with a suite of services and tiered pricing. Visit us today to learn how you can get what you need to survive this tough home market in Calgary without breaking the bank.