Housing Market Negativity is permeating the media and is seeping into the minds and thoughts of the home buyer and seller, and even into the minds and business plans of the real estate agent. While I DO understand the realities of the current market shift I also see some great rays of light, amidst the current cloudy real estate forecast:
5. Home Sellers are more willing to listen to agents regarding pricing and staging, and a great real estate agent is now worth their weight in gold.
4. New home builders are actually looking at more creative ways to sell their homes. Builders are willing to negotiate more now than ever.
3. Real Estate agents are nicer to each other. No longer are agent-egos interfering with contract stability. Agents work harder to keep contracts from falling apart. (See #1)
2. Home buyers are finally given the time they need to make one of the largest decisions they will ever make.
1. My competition is dwindling. Real Estate agents are leaving the wonderful world of real estate in droves. Not only do I have the opportunity to gain a healthy market share, but the agents who ARE still in the business are actually competent and easier to work with (compared to the unqualified opportunists of the recent market).
Are you seeing the sun through the clouds?
Daniel Rothamel
February 17, 2008 at 3:31 pm
I like this line of thought. But since we all know that real estate is local, I thought I might add a perspective from another part of the country. . .
I’ll agree with the second half of number 5, for sure. Sellers are beginning to realize that. I also think that a seller’s willingness to listen is directly related to their acceptance of the reality of market conditions. The delusional still remain that way, as do the greedy.
4 is definitely true in my area. Builders are acting far differently than they did a few years ago. That is very good for buyers.
3 is, sadly, untrue in my experience so far. I think this is something that will come with time. Right now, there are still a lot of desperate people doing desperate things, some of which are not nice. But in my area, the slowdown has been more gradual and protracted, so time will force people to accept reality and act accordingly.
2 again true, and very much needed.
1 falls under 3 for me once again. In our area, we haven’t seen a lot of people leaving the business. More so mortgage brokers than agents. We’ve always had a lot of people in our area that only did a handful of transactions per year for the last 10 years, so that might not change any time soon, unless people just get plain discouraged. Although, I am hearing A LOT more stories of agents taking second jobs and the like.
Lani Anglin-Rosales
February 17, 2008 at 3:35 pm
Mariana, I’m so glad that the sun is coming out in Colorado!!! Like Rothamel said, real estate is local, so our story is totally different here, BUT DANG I’m so glad to hear something on a blog that doesn’t sound like a Peanuts teacher. 🙂
Thanks for the pick me up, MDub (that’s Mariana Dub (short for “w”) for those who don’t know)!
Mariana
February 17, 2008 at 8:29 pm
Daniel and Lani – What I see, here in my localness, I believe will travel to your localness in due time … Although we have not seen a big drop in prices (more of just an appreciation slow-down, actually), there are a lot of agents who are looking at RE on a national level and mistakenly applying it locally, crying and leaving … Thus the agent shake up, here. Yay for me, then.
Daniel – I am noticing that the same agents are showing my listings and I am showing more of the same agents’ listings as well. The fish pond is emptier, leaving me room to move and grow… I wish the same/best for you as well!
Lani – I love the MDub… especially coming from a Texan. But I must say that when I first read it, I thought about the car-version (…rollin’ on dubs). You, like Daniel, are totally right. RE IS local, but the national media has infiltrated the brains of so many people that actions are preceeding the real market in some areas… Sad for homeowners in one way (desperation) but good in other ways (more competent agents, eventually).
Dennis Pease
March 30, 2008 at 4:27 am
These are all valid points. I like #1 the best although in my area we have not lost as many in some areas, it is just a matter of time with so many agents doing very little business.
I like your picture and I have one you may enjoy as well. Trailer Trash Hi-Rise.
Gordon Baker
June 26, 2008 at 11:02 pm
Mariana,
We’ve all seen it coming, the weeding out of the agents who were not totally committed and effective. I also believe that technology in itself is setting the bar higher. Besides having a good and functional website, blogging / Web 2.0 keeps us all in a constant learning state of mind – not a bad thing.
Steve Simon
October 27, 2008 at 4:08 pm
From the peak, Florida will have about half of it’s license field force by the end of this license cycle.
Gaggles of newbies not completing the post-license educational requirements, and others just failing to do the 14 hour continuing education.. Couple that with natural atrition and a lack of interest (currently) in taking the courses and you can easily see why.
I think this will bode well for those that have the courage to stick it out if they are in it, and start up if they are not already in…
I have written on my blog about the possible need for a 2nd job for a while for some:
https://www.stevesimon.us/blog/?p=257
That may be the way to tough it out or to start up?
Just my thoughts:)