Yesterday was one of those weird days that really made me see how much our market has truly turned. I was showing a buyer homes and found one that they really liked. Later in the day after they had gotten home I got a call that they wanted to make an offer. Well after some changes, the client had to fax back to me some initials and on their cover page they wrote "We love Dan". Well this made me feel pretty good and I thought to myself how nice it is to have someone appreciate what you do.
Needless to say about an hour later, I get an email from one of my seller clients complaining that their house was not getting any showings and they felt I was not getting the job done because 3 other properties have gone under contract for less money since their home was listed. The 3 properties were all foreclosures and all were listed about $70,000 less than my clients home. I explained to my client the situation and the fact that there are currently 12 other homes on the market in their community (all the same model) and 11 of them are higher in price than they. Sold comps at the time I listed their home (only 23 days ago) easily supported my value. After some discussions, I got them to understand where we are in the market and got them settled back down.
My rambling point here is, it is a BUYERS MARKET and with the deals that are available, buyers feel like their agent is some sort of real estate god. Sellers on the other hand are feeling like their agents are not doing anything to get their homes sold. It is so ironic to see how far the tables have turned from less than 3 years ago. 3 years ago it was the buyer who felt their agent was not getting the job done when all their multiple offers and escalation addendum's were not able to get the home they wanted, and the sellers thought their agent was the real estate god for selling their home for $20,000 over list price in a two day span.
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