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Real Estate Practice : Lesson 3635 (Local Schmocal)

By
Industry Observer TN LIC# 290452

 listing

I've got a few questions for you.

 

1. What was the percentage of listings that you sold last year ?

 

2. What was the average price of the home you sold last year ?

 

3. What was the average discount offered the buyer ?

 

4. What was the average number of days you saw your homes (or homes in your area) listed prior to sale ?

 

5. What kinds of appreciation are you currently seeing in your market area, if any ?

 

6. Is there substantial depreciation and decline in your market area ?

 

It's probably safe to consider that each location is different and probably needs careful attention as regards the way a property is marketed.

 

On the other hand, while we're developing these respective marketing strategies, how do we impact the condition of the world of commercial activity where goods and services are bought and sold ?

 

Do local realty marketing efforts deeply impact national market statistics, especially in this difficult day full of bankruptcies, indictments against national lending institutions, tremendous losses in state and local revenues, declining house prices, exploding material and fuel costs and massive foreclosure numbers?

 

Do we need to focus on local differences in the days ahead?

Or is it time to level the playing field and not place as much credence in the old, ragged motto,

"Location, Location, Location" ?

 

Now that we're seeing homes on the market for long periods of time will it become a national problem for real estate agents to adequately, decently, properly price their listings in the days ahead?

 

Local or schmocal ?

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Time&Temp Memphis

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Comments(2)

Sam Miller
RE/MAX Stars Realty - Howard, OH
Knox County Ohio Real Estate Specialist

David, We are constantly hearing the discussion about local MLS become a regional MLS and also a possibility of a national MLS.  I am NOT a fan of a national MLS.

Sep 26, 2014 11:34 PM
David Saks
Memphis, TN
Broker / Industry Analyst

Timing is everything when addressing market value. Thanks, Sam.

Sep 26, 2014 11:36 PM