Why are top agents with RE/MAX of Grand Rapids? Top 5 Reasons

When talking with agents across our market I have been asked, “Why are top agents with RE/MAX of Grand Rapids?” Here are the top 5 reasons I give them why I believe so many great agents are with RE/MAX GR.

1. We make it easy for them. One of our primary goals is to make building a successful business and make each step of the real estate transaction easier for agents everyday.

2. We help them build long term profitable businesses and personal wealth.

3. They want to be with an industry leader, because they are leaders themselves. We work to elevate the industry together.

4. They are able to leverage the RE/MAX brand & reputation for more business. 

5. We have fun and we give back.

Nothing earth shattering on the list. Just executing on what we see as the fundamentals. What do you think? Are we hitting the mark? We are always looking to learn and grow, so send me a text or email about what you would like to see from your brokerage. 

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

Earn Almost $1,800 More Per Sale

Here are 4 Steps to increasing your average sales price (earning more per sale).

1. Pick your number! Decide how much you would like to increase your average sales price.

2. Identify the areas where those homes exist. Identify your market, both sellers and buyers

3. What is your message to your market? What benefits can you offer them? Create both direct and indirect offers.

4. Decide the method(s) you will use to deliver your message to your market. Execute.

5. Lastly, surround yourself with others selling at that level and mimic what they are doing. Want to play better golf? Golf with better players. You naturally rise to their level.

Agents at RE/MAX GR are closing at a higher average sales price that the other top 12 largest (by sales volume) companies in the greater Grand Rapids metro area by nearly 60k. That higher sales price could result in nearly an additional $1,800 in commission per sale. Increasing your average sales price is critical to the continued growth and long term profitability of your business.

Do you want to increase your average sales price to grow your business?

Do you believe it is by random chance that 120 RE/MAX agents have a higher sales price or is there a reason for it?

Do you believe what has worked for 120 RE/MAX agents will work for you?

How long do you want to wait to start increasing your average sales price?

Let’s start a conversation…

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

daveveldkamp@remax.net

How Top Agents Capture An Unfair Amount of Market Share - Top Agent Tactic 1 of 5

With transactions in our market expected to drop by 2000 this year, you will need to increase your market share by 20% in order to close the same amount of deals. The first of the 5 tactics top agents use to capture an unfair amount of market share is to stop spending time and resources on lead generation that is not working.

You can do this too. Write down your top 10 lead sources and be specific. For example, network referrals, SOI referrals, leads group, pay-per-click advertising, open houses, neighborhood landing page, etc.  Just saying SOI or online advertisement is too generic. Beside each lead source write the number of leads or closings that sources has brought you in the last 12 or 24 months. Then prioritize the list from best to least. Eliminate the bottom 5. Take the time and resources spent on the bottom 5 and allocate them to the top 5.

Now, if you are newer in the business and do not have enough sales for this exercise, start looking for lead sources that produce a 6X return on investment. Anything that delivers 6x gets more time and attention. Next week we will cover tactic #2, messages that create appointment. Keep elevating our industry. 

Watch Video: https://youtu.be/h1Puvy-3GCg

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

Nervous About the Future of the Real Estate Market?

50% of the market share is owned by 10% of the agents in our market. In other words about 350 out of about 3500 agents are handling about 3.5 billion worth of sales volume, a 10m plus per agent annual average. This is not by accident or coincidence. It is from intentional actions to capture more market share. As the amount of transactions this year will be significantly less than last year, (NAR is predicting a 9% reduction nationwide, we are seeing a 15% reduction in West Michigan) capturing more market share becomes vital to the success of your business.

If the challenges of this market have you concerned about the future, the good news is you can take the same intentional actions. The top 10 percent’s success is not by accident and their tactics are no secret. You can replicate it and the time to start is now. Over the next several weeks we will be covering specific actions and tactics geared to increasing your market share. So make sure to subscribe below because the truth is some agents will not survive the reduction in sales this year, some will, but anyone can if they take the right actions. If you want a sneak peak of the top 5 tactics send me an email or text. Keep elevating our industry.

Watch Video: https://youtu.be/wfq54FGzDDg

Download: Offers are more aggressive than last year

Download: 70% sold over list

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

daveveldkamp@remax.net

Thrive in a Tight Market

Welcome to May! Today we have included all of the need to know market statistics for April. Be sure to download them and share them today securing your position as the market expert. It is important to note that single family home sales continue to be slow, down 21% when comparing April to April. So with 28% of sales for the year already close who will thrive in this tight market? The danger for many is that during the abundant market of the last few years they became “order takers”…simply accepting the business that came their way never really having to hunt for their next sale. With the real possibility of our market seeing 2000 fewer transactions this year, “order taking” is no longer a successful strategy. The industry experts who are well equipped to “hunt” for business will thrive while the "order takers” fade away. Wondering where to start hunting? Try starting with your existing contacts…over the last 10 years agents have only capture 23% of the business from the people they already know. That leaves a lot of room for improvement. If I was in you sphere, when was the last time I heard from you? Keep elevating our industry.

Watch Video: https://youtu.be/fA-FSVm_ySM

Download: April 2022 Statistics

Download: How Far Over List Price

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

Hand Pick Your Home

We were excited to see 320 homes hit the market last week! That is about 30% higher than we have been averaging. We also hit 600 homes on the market for the first time since June of 2021. However, we are still selling homes at a rate of 29 per day with is the slowest rate since 2011.

To help you buyers, try a Hand Pick Your Home program. Have your buyer select some specific neighborhoods or streets that they like. Then take your buyer for a ride through those neighborhoods and down those streets. Have the buyer point to the homes they think they might like. Then door knock those specific homes on the buyers behalf.  

Here are some door knocking suggestion. First, use the Quarterly Market Summary Report as a leave behind. Be sure to highlight the specific school district you are door knocking in. Add a QR code that takes them to your Home Valuation website landing page. Second, have a “You are in the drivers seat” informational sheet or dialogue ready for the seller explaining not only the potential earnings, but how much leverage they have to stay in their home while they search for the next one. Provide answers to the “Where will I go” or “I will need time to find another home” objections. For example, if I could bring a buyer who is willing to close 12-24 months from now, do you believe that would that be enough time to find you a new home?

Keep Elevating Our industry!

Download: Hand Pick You Home Program

Watch the video: https://youtu.be/Q9XL-SoRtdo

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

One Thing That Will Double Your Conversion Rate

There is one reason why some agents convert more leads than others. I am Dave Veldkamp, with RE/MAX GR. The agent who convert more leads understands you must earn the right to meet the potential client in person. You can earn that right in two ways: making a better connection or making a better offer.

To make a better connection, genuinely stay curious about what the lead needs. Learning about their specific situation and how they are feeling about it. If they can tell you are truly care about their needs, you’ll earn a meeting.

To improve what you are offering, asked yourself…why should this buyer or seller meet with me vs. another agent? What do I offer that is unique? How am I communicating that unique offering over the phone with every lead? Maybe you have a unique system for securing the right home for a buyer. Maybe you have a proprietary process for maximizing a seller’s proceeds. Maybe you have unmatched expertise in a specific specialty or market. Chances are you have more unique offerings than you realize.

Give your offerings unique names and be prepared to communicate them with your next lead. Then watch your conversion rate soar. If you have questions on how to do this send me a message. Keep elevating our industry.

Watch Video: https://youtu.be/P-9uJ_vVq3g

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

daveveldkamp@remax.net

4 Out of 5 Sellers Choose This Agent

4 out of 5 sellers choose to work with the fist agent they meet. 3 out of 4 buyers work with the first agent they meet. With fewer sales happening this year, being first has never been more important. Find ways to improve your response time, quickly build rapport and schedule the first appointment as soon as possible. Scheduling meetings too far out could cost you. One sure way to be first is to have clients contact you which only happens when you are consistently present in their minds. For example we provide our agents with monthly local community content, social media posts, automated monthly home value reports for past clients and custom neighborhood reports making being present on a regular basis simple and easy. Make sure you are taking advantage of what is available to you. Be present. Be first. Keep elevating our industry.

Watch Video: https://youtu.be/AzABibTT-J4

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

1st Quarter 2022 Market Guide Plus 20% of Your Annual Goal

The 1st quarter of 2022 has come to an end and that means we are releasing the most updated version of our most popular download our quarterly market summary guide covering all of the important statistics for 27 different areas divided by school district. It is a great tool for your day to day business and a great bit of info to share with your sphere. Be sure to download it today.

The average sales price for the 1st quarter in all of the greater Grand Rapids area was $315k and increase of nearly $38k compared to the same time last year, roughly a 13% increase. Unfortunately, closed sales on single family homes is down 14%. If you combine the two the total dollars in our real estate market has shrunk by about 2% so far this year. We hope that trend doesn’t continue into the spring market.

Finally, the end of the 1st quarter is a good time to check if you are on track for you annual goals. Historically we see about 20% of all sales close by the end of March. So that begs the question, are you at 20% of your sales goals for the year? If yes, congrats and keep doing what you’re doing…it is working! If not, it is time to ask why not? It might be time for some changes. If you feel you are off pace, send me an email. We are happy to help assess and identify some course corrections to get you back on target. Keep Elevating the Industry!

Watch Video: https://youtu.be/wRDy47ISmrg

Download: Quarterly Market Summary Guide - 1st Quarter 2022

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

Daveveldkamp@remax.net

Handling this Market like a Pro

We saw a historic numbers of home refinanced last year. Now that rates have risen significantly many homeowners have rates locked in 1.5% below current rates. Combine that with the double digit value increases and you have a 50% increase in the cost of financing a new purchase which will keep many move up buyers in their current homes for some time. The challenge is move up buyers typically fuel the housing market with new inventory opening up starter homes. Unfortunately, this will continue to exacerbate the lack of inventory.

This has been evident over the first quarter of 2022 with total single family home sales down 17%. As agents, as true pros, we need to make sure we are operating as the navigators of these market conditions and not victims of the current difficult situation. Even with all of the challenges, this market still has plenty of business for success for those doing what it takes for the market to find them. So, are you operating like a true pro? Are you doing what it takes for this market to find you? Wondering what you should be doing? Send me an email or text. Keep elevating our industry!

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

daveveldkamp@remax.net

Important Trends in March

Welcome to spring! And we hope that brings along the spring market. We are seeing a few trends this March. The good news is we have seen a bump in new listings. We have been averaging around 160 new listings a week and that jumped to nearly 260 last week. We hope that trend continues because at just 420 closed sales as of yesterday we are about 25% behind last March in closed sales. Interest rates did jump over 4% which will effect buying power. We have a great chart to help explain the changes to your clients. Send me an email if you would like a copy. Finally, we have seen 64% of homes sell over asking price…if you are considering it, people who offered over asking and whose offers were accepted on average offered 27k over the list price. I hope that helps you and your buyers moving forward. Keep elevating our industry.

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

Provide Value to Hundreds in Just 5 Minutes a Month

Welcome to March! I am Dave Veldkamp with RE/MAX GR and here is what happened in February in the Greater Grand Rapids real estate market. We saw just 565 single family home sales, which is 20% less than last February. The good news is the average sale price was up 12.5% from last year coming in just over $316,000. 60% of homes sold over the list price, 17% at the list price and nearly 1/4 of homes sold below the listing price. On average, buyers paid $9700 more than the list price to secure the home. That is more than double the $4700 above asking buyers we paying in January and last year we didn’t see buyer have to pay that much over until mid-april. Finally, we saw rates climb about another 1/4 of a point, yet they remain historically low.

The market is definitely challenging and a top real estate professional has never been more valuable than right now. So position yourself as the expert.

Use these stats and your mobile phone to create a quick monthly market update video of your own. Check out the sample I made in just 5 minutes with the RE/MAX Hustle Video editor we provide all of our agents to stay cutting edge. Check out the vertical orientation and short time frame, perfect for social media and mobile. If you have a goal of doing more video this year, invest the 5 minutes every month. That is just one hour a year! We provide the content, use an easy video editor like our RE/MAX Hustle tool and position yourself as the expert in front of hundreds of people when they need you most.

Keep elevating our industry!

Watch the Video: https://youtu.be/Zw_oh384TmE

Sample Monthly Market Update Video

Download Market Statistics

Download Above List Price Pie Chart

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

The Best Hedge on Inflation

The high inflation rate is on everyone’s mind. The good news for homeowners and future homeowners is that homeownership has been one of the best hedges on inflation for decades and that remains true today. The value increase of homes just simply out paces inflation. Even though consumer inflation is at 7% we still see home values increasing at double that rate at over 14%. So deliver some good news to the homeowners in your SOI and reassure them they made a great investment. For the future homeowners, assure them they are making a great financial decision buying a home. We have include a chart for you to share on social media and to help you with your client conversations. Keep elevating the industry!

Watch the Video: https://youtu.be/o4oKwGPKMvI

Download: Best Hedge on Inflation Chart

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

One Activity, 90 Days, $11m in Listings

One RE/MAX agent, needing listings in a low inventory market, decided to send out one Home Value Report a day for 90 days straight. He sent some to people on his SOI and some to people who were not. Creating the reports was relatively simple.

We provide Buyside and CloudCMA to our agents or even the MLS would work. Buyside’s reports are great because it provides recent sales in the area, multiple AVMs, and heatmaps for buyers activity. You can even automate the report to go out monthly. CloudCMA’s Homebeat will do something similar. Whatever system you use, creating the reports is simple. The difficult part is the self discipline to send them out consistently for 90 days.

So was it worth? While many of us have been wishing for more listings, this one agent, secured 11 million in listings over that 90 day period directly from his Home Value Reports…not a bad quarter! Send me a message if you would like additional information and let me know how your next 90 days go! Keep Elevating Our Industry!

Watch the Video: https://youtu.be/JcoIHdhyWfs

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

Predictable Business Growth

Do you want to create predictable business growth? Let’s predict how much you will sell this year. On average agents close a deal with 7% of their database if they stay in regular contact (approximately 12-18 touches a year). So 100 people in your database, expect 7 deals…200 people 14 deals…and so on. Additionally, for decades now agents have found that around 70% of their business comes from their database. So if 14 deals come from you database, expect that to be about 70% of your annual total business. To predict your total for the year in this example you would take 14 deals and divide it by 0.70 or 70% (14 / 0.70 = 20 deals). Want more business? Add to your database weekly. If you add just 2 people per week that could be an additional 7 deals next year ( 2 people x 50 weeks = 100 people x 7% = 7 deals). At todays average sales prices that could be close to an additional $70k in commissions. Now you are in control of your business growth…how many people are you going to add each week? Keep Elevating our Industry.

Watch Video: https://youtu.be/IsPTa9ryWZg

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

Slowest January in Years

Welcome to February! In January our market saw a slow start with just 604 home sales. In fact, that was the slowest January since 2015. I am sure some of you felt it. But no need to worry, because in 2015 we saw a total of 13,100 homes sold. That is the second highest total in the last 15 years! Hopefully we will match that trajectory in 2022.

Today, we have published the monthly stats for January…make sure to download them and share them with your SOI. It is important to note that 53% of homes were still sold over list with an average of $4700 above the asking price. That is a slight up tick from December’s average. These numbers will continue to climb all the way until summertime. Last year we topped out in June with 76% of homes selling above list with an average of $16,200 above asking price. Knowing buyers will continue to have to offer above asking price, we have updated our chart showing the impact on monthly mortgage payment when they increase their offer. Download it today to make your conversations with buyers easier. At our office we make sure to publish them in all of our Home Buyers Guides. Keep elevating our industry.

Watch Video: https://youtu.be/gK71V9hKpwc

Download: January Sales Statistics to Share
Download: January Above Asking Price Statistics to Share
Download: Offering More? Monthly Payment Impact Chart

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

Outpace the Market

Home values were up over 14% in 2021, total home sales were down just a couple of points, so our overall market volume grew by nearly 13% last year. That is the largest market growth we have seen since 2015. The questions is how much did your business grow? Was it more than 13%? If yes, congratulations you out paced the market. You are doing something right! Identify it and do more of it in 2022. If your business didn’t grow by 13%, the market out paced you. Can you identify why your business shrank? More importantly, what course correction will you take action on this year? Leverage the resources provide every Monday to keep your business growing. Only the true Pros will continue to out pace the market. Keep elevating our industry and send me a message if you would like help with your course corrections in 2022.

Watch Video: https://youtu.be/zIJGbU-JmZU

David Veldkamp

Owner, RE/MAX GR

(616) 460-6123

Annual Renovation Cost & ROI Guide 2022

We believe in the 3 “P”s of Real Estate success. Going Pro, proper Positioning and being Present. The absolute first step is deciding to go “Pro”. No more dabbling in real estate, no more just dipping a toe in the pool. You are all in. Part of being "all in" is your responsibility to be an industry expert so you can serve your clients well. That is exactly what we try to help with every Monday afternoon by providing you relevant information for your business and your clients because who wants to hand over their most valuable investment to an amateur!

This week we share our annual renovation cost and return on investment guide. This guide is a perfect item to share with your SOI offering great value to anyone who is a home owner. Keep elevating our industry and if you want to talk more about Going Pro, proper Positioning and being Present send me a message.

Download: Renovation Cost and ROI Guide 2022

David Veldkamp

RE/MAX GR

(616) 460-6123 (Call or text)

The Irony of Zestimates

Technology has made it nearly effortless for consumers to monitor real estate activity. The irony of it all is that, even though the information provided by the Zillows of the world isn't very accurate, they have created a desire for the consumer to receive regular “estimates” on their homes value and to monitor the ups and downs of the market. This has created an opportunity for local agents who know the market to generate leads from their sphere by being the “go to” source for accurate real estate information.

So before people in your sphere become someone else’s next internet lead, use the information we share every Monday to position yourself as the local expert. No algorithm can match your intimate knowledge of our market. Today you will find information about trends in our housing inventory, trends in accepted offers and big shifts in interest rates. Keep elevating our industry.

Download: Inventory Trends

Download: Accepted Offer Trends

Download: Shifts in Interest Rates

David Veldkamp

Owner, RE/MAX GR

616.460.6123

Impress Your SOI with Our Market Quick Reference Guide

Today we are releasing our latest Market Quick reference guide. Use it to save time in your business and impress your sphere with your market knowledge by posting it or calling them to let them know specifically how much their area has increased in value. Not all areas have grown at the same rate…the 12 month value increase graph in today’s email gives you a great visual of that fact. Also, a great item to share.

A few other items to note this week. First, 30 year interest rates jumped to up again to nearly 3.25%. That steady increase everyone has been predicting has started. Second, we are hosting RAMP live. 13 weeks of amazing, action packed classes. It is a great way to start off your year and grow your business. You can check out the detail from the link in our email or attend the pregame meeting tomorrow. Lastly, tomorrow we will release the much anticipated Top 300 list for 2021. Keep an eye out for that and as always feel free to text or email me if you want to know where you rank at any point through out the year. Keep elevating our industry.

Download: Market Quick Reference Guide

Download: 12 Month Value Increase by School District

Watch video: https://youtu.be/aR_klCnT5CM

Dave Veldkamp

Owner, RE/MAX GR

(616) 460-6123