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How's the market? I'll tell you.

One of things I've noticed in the course of my Real Estate career is that lots of folks are interested in how the "market is doing". I remember a former broker of mine telling us people always want to know and that it is hip and trendy to discuss Real Estate. This seems to ring true in many respects.

As an agent who focuses on Snohomish county and the cities of Arlington, Marysville, Lake Stevens and Everett, the market has certainly changed. Markets do that, don't they? It's remarkable in my mind how things get lumped together. One thing is for sure, the Real Estate climate is largely a local issue. In a word, what's happening across the country is not always true for our local market.

All in all, though time on market has lengthened and prices have flattened or declined, Snohomish County remains an excellent area to buy or sell homes and land. Sales may have even slowed down, still a super place to buy or sell.

So, if you ask me how the market is...

I say it's still great, maybe just not as great as some previous time(s) but still great.

Posted by Stephen Campbell on 04/01/2008 07:53 PM

Comments (3)

3 Comments on How's the market? I'll tell you.

APR

2008

To be able to answer you really got to know your market .. those agents that in some sun shine painting way say ...GREAT Its a Great time to buy a house... need to slow down and listen deeply to the question.. ask a follow up question.. are you asking as a buyer / seller which are of town what price point. Now your answer will carry weight and paint you as a PROFESSIONAL

APR

2008

Yes, it is very important to ask questions and listen. If you don't, you will not by answering in a way that works for the customer and you may not be working with them much longer or at all! How many times do you hear someone saying they were not shown homes that worked for them? Not asking questions and digging deeper is a huge mistake. It's been said that great salespeople ask great questions. In a market that's changed and changing, being a professional is everything.

APR

2008

Eric you've got a good point about going deeper with the follow up questions. Some people are simply making pleasant conversation because they know this is a topic agents will respond to AND it is a great way to shift the conversation from them to the agent. By getting the agent to start talking, much like hitting the button on a wind-up doll, they won't have to say anything. Your idea of asking the follow up question is right on.
Steve's answer of great, right now and regardless of the market, is quite true. I don't believe giving a comparison to how the market used to be is of any benefit to the agent or the listener. It is like talking about the sale that took place last week and gee, isn't it too bad you missed it. People beat themselves up enough - don't give them any more excuses. Interest rates are at historic lows - THIS is something that impacts the buyer and how much they can afford.Do some research over the past 30 years in your area on the interest rates homeowners paid in the 70's, 80's, 90's, and 2000's. Then ask them if you were to buy a house and planned on living in the house for a number of years to come, which interest rate would work best for you?
Quickly, I would get to the question do you currently own a home? At this point, you can get them talking about what they are doing and THAT opens the door for doing business with you.
As Steve knows, I sold real estate many years ago yet my wife is Bernice Ross. I'm swimming in this conversation on a daily basis despite the fact I haven't sold anything since 1990.
Perhaps, the reason a person asks this question is to tell if you are the type of agent that ask questions and listens or just gives a verbal download about the current market.
Byron Van Arsdale, Austin, TX

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