We have had an amazing run the last couple years in Real Estate. What a run…What I can tell you after having been a REALTOR for the past 16 years is you need to be conscious of what is happening around you and be proactive the to climate of the market of the moment. Where are you in your Units against your goals , year
I feel we have been discussing a SHIFT for quite a while, the reason for that is that it is overdue. What we know to be true is that the SHIFT will happen and what you need to do is know how you will grow you business through those changes.
What we’re hearing from sellers? What are you hearing form your Sellers? How will you respond? Are you up to date on your Market climate?
We are hearing 20-30% of sellers say they want to wait? Are we asking how long they’re willing to be a landlord?
Educate your clients with the local market data avoid the Noid(Remember Dominos?) to me the Noid is the local and national media creating a narrative of panic and invaluable noise around truth.
What is the truth? How long are they willing to wait? At what cost will the wait? What are your Days on Market? Did you know it is still a very strong seller market although buys now do have some flexibility in negotiation?
Do you know your Top & True Economic Indicators? Market Absorption Rate Pent up New Construction demands? Average Showings per Listing Price Reductions New Listings Expired Listings per Day Pending Sales
Keep in mind what your working on those listings that the house that leads the market gets more money than the followers if we see ourselves in price adjustment market.
DOM is the enemy to your home’s sale price, get comfortable on the DOM and what triggers the conversation for adjustments. Set you expectations up front with your Consumers
“Best of both worlds” By getting on the market now, you can shop in the next market Dive into motivation. Ask them a lot of why questions as to why they want to make the move and keep the focus on the WHY…
What else to consider in the current market and things the consumer may be overlooking:
The tax savings of buying vs renting a home Freddie Mac or Fannie Mae
What are the benefits of what you’re getting. Calculate over 5 or 7 years https://myhome.freddiemac.com/resources/calculators/tax-savings
Rates may have gone up but where are they in comparison to traditional scale not just the historic lows of the sub 3% of the recent past?
Command Tools:
Neighborhood Nurture: https://answers.kw.com/hc/en-us/articles/360024056594-Add-Contacts-to-the-Monthly-Neighborhood-Nurture-SmartPlan Neighborhood Video: https://answers.kw.com/hc/en-us/articles/360043167413-Create-a-Neighborhood-Video-Social-Post- Neighborhood Snapshot: https://answers.kw.com/hc/en-us/articles/360041288834-Create-a-Neighborhood-Snapshot-Print-or-Social-Design Save Search & Consumer Collections: https://answers.kw.com/hc/en-us/articles/360057912834-Saved-Search-vs-Collection Keller Mortgage: https://www.kellermortgage.com/
Dave’s video BWN Update: Where they were, where they are, and where they are going