NAR Sees Opportunity Knocking for Many Buyers, But Timing is Key

WASHINGTON, January 08, 2007

Consumers considering a home purchase should contact a Realtor® to take advantage of the current environment now, said National Association of Realtors® President Pat Vredevoogd Combs in a press conference today.

That's a message that NAR is sending to consumers in a new $40 million outreach campaign beginning this month. The new advertising initiative, "Every market's different, call a Realtor® today," explains the opportunities, challenges and advantages to buying and selling a home in today's real estate environment.

"Many media reports about trends and developments in the housing market are on a national level and don't capture what's happening in individual communities across the country," said Combs. "As local real estate market conditions continue to evolve, savvy consumers rely on the guidance of real estate professionals who are immersed in the industry. These new advertisements explain how Realtors®' insight and experience into their local markets add real value in today's dynamic real estate environment."

Although most sellers are still seeing a very good return on their investment, with a median of more than 50 percent appreciation over the past six years, some home buyers are worried about the timing of their investment. As inventories rise, many buyers have increased negotiating power, but are unsure of how to structure the best deal. Sellers need help positioning their homes in a competitive marketplace and in attracting and engaging serious buyers.

"Homeownership is a safe, secure way to build long-term wealth," said Combs, vice president of Coldwell Banker AJS Schmidt in Grand Rapids, Mich. "Buyers and sellers have different concerns as their local markets change, but our Realtor® members handle hundreds, if not thousands, of real estate transactions over the course of their careers, and can counsel and guide consumers through the process. Realtors® have the expertise and experience to help sellers protect their investment and help buyers build theirs."

The television and radio ads that will begin running on January 15 and January 29, respectively, are part of NAR's Public Awareness Campaign, and expand on a print campaign that NAR launched in October 2006, "It's a Great Time to Buy or Sell a Home."
 
Now in its 10th year, the NAR Public Awareness Campaign has helped millions of consumers realize the value of using a Realtor® to help them buy or sell real estate, and is now educating consumers about the value of housing as a long-term investment. According to annual tracking research, the commercials have made a big impact with consumers over time. The percentage of consumers surveyed who are more likely to hire a Realtor® than a real estate agent who is not a Realtor® has risen from 51 percent in 1999 (the first year of the survey) to 64 percent in 2006.

The 2007 campaign includes two themes, "Good Time to Buy" and "Know How to Sell." "Good Time to Buy" highlights favorable conditions for home buyers and explains how Realtors® can help buyers make smart decisions in their local marketplace. "Know How to Sell" explains how Realtors can help sellers position their homes in a competitive marketplace to attract and engage serious buyers.

2007 marks the most extensive outreach effort since the Public Awareness Campaign began. Ads will be broadcast nationwide from January through November and will air more than 8,750 times on national TV and radio outlets and more than 25,000 times on local radio stations through a national buy. Print, billboard, bus shelter, and poster ads are available to local and state associations to use in their own outreach efforts, and Realtors can download Web banners for their own Web sites. To view the materials and learn more about the national Public Awareness Campaign, visit www.realtor.org/awarenesscampaign.

"In some parts of the country, it may be the best time to buy a home since 2001," said Combs. "But real estate is cyclical. Home buyers should act before their window of opportunity closes, and sellers need to think about how to prepare and market their home effectively. Calling a Realtor® is the best move people on either side of the real estate transaction can make."

The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.

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