This month has been big for me. I have been an agent in MA for 18 months now and have already won some awards. My commissions in my first year were just below $100,000 which put me in the Executive Club for the REMAX system. Not bad, but I wanted to do better and I will this year.
I just heard I have been named for the second time in 18 months as the "Agent of the Month" for REMAX New England. There are a lot of great agents in New England and this is quite an honor for me. When I told my wife about it the other day, I was flying high. She calmly looked at me and said, "Larry, we don't need any more gold stars for the outside of our refrigerator. We need food for the inside." While her comment was somewhat of a buzz-kill for me, I completely understand her thinking and agree with her. Awards mean nothing compared to accomplishing the real work we agents perform. Closing deals and creating better lives for our clients and communities is the real reward--along with the ensuing commissions.
The next 90-120 days will be crucial as our economy makes the slow turn and the penduluum slowly swings in a new direction. Interest rates will not stay as they are. Prices of homes are never stagnant. What we can safely say is that 120 days from now it will be different. Today I need to reach out to assist my community with the sale and purchase of homes. In this manner we, the real estate professionals can help our economy grow. It is up to us, not the banks or the government. We need to communicate that there has never been a better time to build long term wealth by buying a property at the right price and with the right interest rate.
Sure the prices in some areas may drop again when more of the shadow inventory hits, but the incremental drop in the prices does not compare to the cost of a raised interest rate. We need to communicate that price is not near as important as cost. This is for both buyers and sellers. If your listing is reluctant to drop the price again you need to let them know that new inventory is on the way and the iron is hot now. If you have buyers who want the prices to drop again before they get in, you need to let them know that interest rates have gone up slightly and when they move again, it may be much higher and faster a move.
Ask yourself what you can do today to make your community and your own life better. That question will help you put groceries in the refrigerator and more gold stars on the refrigerator. Just saying.
Realtor®, Director of Marketing
Keller Williams Boston Southwest
680 High Street
Westwood, MA 02090