Well, I think we've done it: we've hit bottom. In fact, I'm 90% sure of it. There is this strange swelling up in my market (Philadelphia and the Main Line), and hopefully, yours, where buyers and sellers are starting to come out of the woodwork, ready to act. No, my phone isn't constantly ringing off the wall, but it's ringing more ... with queries and curiosities about what's on the market, and is now a good time to buy. The hits on my website are up, although just a small percentage, but they are up. And so are showings. Is it a combination of the stock market, holiday good cheer, and pent-up demand? Maybe. Is it the low interest rates that are starting to show up again, the major price reductions that sellers have taken, and the new administration coming into office? Perhaps it's a combination of all of the above. Other agents in my office are starting to feel the same way. Slowing but surely, like popcorn in a microwave, business is beginning to return. I'm waiting for someone to break into "somethin's coming, I don't know what it is, but it is gonna be great" from West Side Story.
I've never been one to give up, and I'm not about to now. So, here it is, a week before Christmas, and I've got my nose to the grindstone. There's a group at my office that I'm a part of where we actively work on generating business. To be sure, I'm still getting "no" when I make those contacts, but I'm also hearing an exhaustion on the part of buyers who want to buy a home, anxious to go forward, and seeing value in homes they are now looking at more seriously. And sellers who want to sell to these now-interested buyers.
Are we going to return to the hey-day of a few years ago? Honestly, I hope not. Our business is being "normalized," and artificial, inflated prices should be a thing of the past ... as should some of these companies and individuals who helped put us here. But if we can stay focused on getting back to the basics of building a strong business, and the mentality to keep it going forward, we will all come out better at the other end.