There has been a lot of talk lately about the market turning to a buyers market. I never paid a whole lot of attention to where the market for homes is going. There will always be people buying and selling, it just affects the numbers of homes sold and how quickly they sell.
Not too long ago, when homes sold quickly, my buyers would put an offer in and find out the next day that the home they wanted had 10 other offers, some for more than the asking price. After losing home after home, they would finally get an offer accepted. This was a hectic market, for Real Estate agents as well as mortgage professionals. It required acting quickly on your customers needs.
Now it seems, homes sit on the MLS for a while before there are even offers made. The customers feel like they don't need to rush into a home purchase. They search more homes looking for the perfect home for the perfect price. This also tends to be more of a different kind of work for agents. Now agents show their customers many different homes before a decision is made, using more gas, time and resources.
I can understand how different markets need different sales tactics. We need to adapt to each market as it comes. The professionals who can adapt are the ones who last.
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