Strong Job Market is Good for Business

When the job market is on the rebound, grow your business by looking for opportunities to help people relocate.

July 1, 2006

While economists appear to have breathed a sigh of relief at the Federal Reserve's possible pause in raising short term interest rates, inflation could reignite with an uptick in jobs.

But don’t panic — a strong job market is a good thing for housing.

Following a long fallow period during which job creation and salaries were stagnant, the economy appears to be growing. Unlike the "jobless recovery" of 2001 to 2003, hiring managers are in the mood to add more staff, according to a recent poll by job-search Web site CareerBuilder.com. The survey suggests that many people who stayed put in unproductive, unsatisfying, or lower-wage jobs soon may take advantage of the growing economy to find better positions.

New Job, New House?

The survey tracked hiring and job search activities for the third quarter of 2006, and included responses from more than 2,200 workers — including over 1,000 hiring managers primarily operating in services industries. The results show that lots of people may be changing jobs now or in the near term.

Of the respondents, one out of ten say they intend to change jobs in the next quarter, and one in five say they will change jobs in the next six months. And when there are changes in jobs, changes in homes often follow.

Get Ahead of the Trend

Crafty real estate practitioners who want to jump on this trend should find out who's hiring in their areas by reading online and print want ads. As you drive neighborhoods, stop and chat with people you meet and ask them what's happening in their neighborhoods. You can find out firsthand whether people are moving in or moving out and why.

Also, visit the Chamber of Commerce to learn what developments are taking place. Take this information and use it to emphasize your relocation skills in your advertising.

If you don't work for a company with a relocation division, you can offer to help relocating buyers and sellers yourself by visiting the human resources relocation divisions or smaller personnel departments of local companies. Introduce yourself and leave listing packets that emphasize your technology skills, communication skills, and list-to-sales price and days on market.

Follow up with an electronic newsletter to your company contact that includes your local market conditions.

Remember, people reward persistence and enthusiasm.

(c) Copyright 2006 Realty Times. Reprinted with permission.

Blanche Evans is a writer/editor and CEO of evansEmedia. Formerly, she was a senior editor with Realty Times, where she was named by REALTOR® Magazine as one of the most influential people in the real estate industry.

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