{"id":2270,"date":"2021-06-03T13:51:32","date_gmt":"2021-06-03T13:51:32","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2021\/06\/03\/serving-boomerang-sellers-who-are-banking-on-the-rapid-resale\/"},"modified":"2025-03-13T02:37:46","modified_gmt":"2025-03-13T02:37:46","slug":"serving-boomerang-sellers-who-are-banking-on-the-rapid-resale","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2021\/06\/03\/serving-boomerang-sellers-who-are-banking-on-the-rapid-resale\/","title":{"rendered":"Serving boomerang sellers who are banking on the rapid resale"},"content":{"rendered":"\n

Homebuyers who regret their decision after buying a home turn to rapid resales and find big bucks in the process. Dubbed boomerang sellers, these homeowners likely turn to real estate agents to guide them.<\/p>\n\n\n\n

Early in the COVID-19 pandemic, one of Gary Dolch\u2019s buyers purchased a new waterfront home for $681,000 in Austin. Nine months later, the buyer became a boomerang seller, and put the home back on the market, generating multiple offers and a sale price of $1,005,000<\/a>, according to Dolch, who leads the Austin Luxury Group with Compass in central Texas. \u201cThe owners were glad to move here, but when a better job offer came along in South Carolina, they decided to move again, and nearly doubled the price in 10 months,\u201d says Dolch.<\/p>\n\n\n\n

Since March 2020, many urban renters purchased single-family homes in suburban markets in search of more space as the economy shifted to remote working and schooling. But in their haste, many new buyers opted to forego inspections or other aspects of the due-diligence process. In fact, a November 2020 study by Statistica<\/a> found that 54% of U.S. homeowners who bought in the prior six months said they should have waited for a variety of reasons. On the other hand, about 43% said they made the right decision, while 3% were not sure.<\/p>\n\n\n\n

Now, rapid resales of homes purchased during the pandemic are occurring in many U.S. markets, as the live-work disruptions from COVID-19 recede with widespread vaccinations.\u00a0The motives for these \u201cboomerang sellers\u201d include buyer\u2019s remorse, hope for a quick profit, a desire to return to a prior community or an attractive job offer in another location.<\/p>\n\n\n\n

Seeking repeat business<\/strong><\/strong><\/p>\n\n\n\n

For brokers and agents, working with boomerang sellers on the quick resale trend creates timely opportunities for repeat business, according to Brian Wildermuth, senior vice president, Real Estate Services for Deluxe Branded Marketing in Littleton, Colorado. \u201cWhile I’m not seeing a lot of buyer remorse in my markets, there are some powerful, data-driven ways to identify recent owners who are likely to sell, and generate repeat business,\u201d he says. \u201cThat process should begin right at the closing.\u201d<\/p>\n\n\n\n

First, an agent should stay in touch with the client and ask whether email, phone call, texts or social media is the preferred channel. \u201cThen, add your client to a regular cadence campaign, so you maintain a strong connection going forward,\u201d Wildermuth says. \u201cLook for ways to add value to the relationship, such as market updates. You want to be positioned as the trusted advisor, so that anyone looking for a quick sale will give you that repeat business.\u201d Those market updates might show a buyer that the home has appreciated enough for them to become boomerang sellers.<\/p>\n\n\n\n

Next, input notes about the client into the agent\u2019s database, such as \u201cplans to start a family in two years,\u201d or \u201cmoved three times in the past decade.\u201d Other information may also help to identify potential boomerang sellers, such as the turnover rate, available inventory or current values in a target neighborhood.\u00a0After all, many new owners would likely consider a resale if there was a double-digit rise in local market prices.<\/p>\n\n\n\n

Another clue is looking at the owner\u2019s online behaviors. \u201cA new owner who is asking for a home valuation or is searching sites for a new home and leaving a trail may well be looking to flip that first purchase and find something different,\u201d Wildermuth says.<\/p>\n\n\n\n

Customize marketing messages<\/strong><\/p>\n\n\n\n

When marketing to potential sellers, Wildermuth customizes messages for recent buyers who may be ready to sell or other target prospects, such as baby boomers seeking to downsize. \u201cRather than use a \u2018spray and pray\u2019 methodology, look at what current owners will likely be doing in the next few years,\u201d he says. \u201cTailor your messages to the path your customer will be taking.\u201d<\/p>\n\n\n\n

Other messaging suggestions include showing empathy for buyers who may regret their decisions, providing helpful strategies for low-cost staging or even offering an incentive to owners selling a home purchased in the past year. <\/p>\n\n\n\n

In any case, Wildermuth recommends an omni-channel messaging strategy, using video, social media, email and targeted advertising. Using client data plus an appropriate personalized message and omni-channel marketing will yield the greatest result. \u201cDone appropriately, you could see a 500% lift in your response rate,\u201d Wildemuth says. \u201cIt\u2019s a very effective approach for generating repeat business.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Homebuyers who regret their decision after buying a home turn to rapid resales and find big bucks in the process. Dubbed boomerang sellers, these homeowners likely turn to real estate agents to guide them.<\/p>\n","protected":false},"author":15802,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[1023],"class_list":["post-2270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"\nServing boomerang sellers who are banking on the rapid resale - RealTrends - Blog<\/title>\n<meta name=\"description\" content=\"Homebuyers who regret their decision after buying a home turn to rapid resales and find big bucks. 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