A Question for Veterans Agents out there and a Notice to New Agents.
First for the new agents.
The market is going to pop sooner or later and when it does the one who holds the inventory wins!!
Stop chasing buyers and go after the listings. The time you're wasting carting buyers around can be used to prospect. Don't worry about finding buyers right now List and the buyers will come to you!!
I know you've heard and read that a million times since you've started in this business but I really do believe it's more important now than ever. Take it from someone who started out in this business just servicing buyers, at that time I didn't have a problem making it with buyers alone.
It was always great to be a listing agent and have the buyer agents sell the inventory for them but the times? They are a changin. In One Word "INTERNET"
The internet was feared to totally eliminate the real estate agent a few years ago, it hasn't done that exactly but I'm thinking it's altered the way real estate is being sold. It does seem some agents are getting removed from the process or they are finding it harder to make a go of it. In my market area we've lost something like 25% of the agents that were around just a year ago it looks like it's affecting the buyer agents more and more. That usually means new agents.
All I hear from them is that no one is buying or that they can't get their so called clients off the fence just to find out a few weeks later they actually did buy something. There are a lot of sales going on out there; people are buying so someone has to be selling....
Existing Home Sales Rise by Largest Amount in Five Years
Good news! The National Association of Realtors reported Friday that sales of existing homes rose by 5.5 percent in September compared to August. This is the largest gain since a 5.6 percent increase in July 2003, and is viewed by many as evidence that the housing market is improving.
I am wondering if the veteran agents out there are noticing something.I wanted to see if any of you agree or can back me up on this
If you haven't yet, check your MLS, see who is selling, maybe this is happening to you too I've noticed a difference in my own business.
In my market I'm seeing more and more that listing agents are selling a lot of their own inventory.
Between the interior photos, virtual tours,satelite photos and the ability to go on google and actually do a virtual drive down the street to see the neighborhood they are considering,listing agents seem to be getting the calls directly from people who are browsing the real estate websites out there. They are really narrowing down the homes in their price range on their own and sliming down the choices without the assistance of a buyer agent.
Buyers just pick up the phone while they're online, pass a sign or bounce from open house to open house, they do believe they will get a better deal that way I've heard them say it.
I've also noticed that my dialog has had to change when talking to people calling me from these sources so I can capture them as loyal buyers.
That's because they intend on calling the listing agent to set an appointment to see the next house on their list. If you're new, do yourself a favor..... Get the listings, and purchase personalized signs with your cell number on it. Ask listing agents in your office if they want to have you hold an open house for them most buyers think that the agent holding the open house is the listing agent anyway.
It seems the old adage applies a lot more these days "List or Die"
Good news for all the listings agents out there and time for you newer people to adjust your business model.
Good luck to you all out there!
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