A Declining Market Could Bring You to Your Knees | Dodge That Bullet

By
Managing Real Estate Broker with RE/MAX Executive Realty 104763
http://actvra.in/4Ywp

How do you deal with a market correction?  We’re experiencing a severe correction in my town.  There are 17 resale homes on the market, at this time.  That’s as close to being VOID of inventory in a town as I’ve ever experienced. It’s not a pretty sight.

What I’m doing is meeting with the new team members and coaching them on how to secure expired listings and fsbo listings.  We’ll be seeing both, especially the For Sale by Owners.  When there are not many real estate signs visible, homeowners who need to sell are “flexing their muscles.” Those muscles usually fatigue quickly, but they feel their oats at the onset.

I’m searching for land. We have three subdivisions secured, and one of them will go live in a couple of months.  There are two going through approvals, and two new offers being negotiated. That’s a total of 5 subdivisions that will be priced according to the current market with a few “loss leaders” to get them off the ground.

Those who have subdivisions will always have resale properties on the market.  Those who search for land will always have subdivisions. The key is to keep the cycle going and not have any voids. The voids will bring a real estate agent to his/her knees in a changing market.

Just a thought to end my day….and I do hope to end it soon from a 4:30am start!!!

Posted by

        

Barbara Todaro, sales manager of RE/MAX Executive Realty 

308 W. Central St...suite E

Franklin, MA 02038

508-520-9881

www.todarosellsfranklinma.com

Exclusive Marketing Agent for The Todaro Team

 

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Rainmaker
3,475,947
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

EXACTLY Myrl Jeffcoat I've worked like that for decades.... I find land; set up builders to create subdivisions; I get the listings; and then the resale homes owned by the buyers.... one subdivision is a life-line.... many are a stairway to heaven, even in a tough market....

Jan 03, 2017 05:16 PM #19
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

My mantra is there is always a market. There are always and sellers and our job is to define who they are and put them together.

Jan 03, 2017 06:48 PM #20
Rainmaker
427,038
Dianne Goode
Raleigh Cary Realty - Raleigh, NC
Realtor/Broker

Wow, that's a challenging market!  The old adage, "You have to list to last" is more true than ever.

Jan 03, 2017 07:10 PM #21
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Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I've been beating the bushes for the past couple of months as we are experiencing a painful case of 'thinventory' here too!  You can never let your foot off of the gas, for sure!

Jan 03, 2017 07:21 PM #22
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Paul S. Henderson, REALTOR®, Broker, Tacoma Washington
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

 Like always, I really enjoyed your blog post and it really did make me think Barbara Todaro 

Jan 03, 2017 10:04 PM #23
Rainmaker
1,941,586
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Barbara.  Only 17? wow...  There would be fistfights or worse around here if that is all we had.  Love the bullet, when you get a minute send me the link please where I can find it

Jan 04, 2017 03:49 AM #24
Rainmaker
3,716,262
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Thank you very much, Barbara, for sharing your local real estate market conditions. Have a most productive January.

Jan 04, 2017 05:22 AM #25
Rainmaker
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Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce - Short Sale

Welcome to Thinventory Barbara Todaro ....we I believe are in recovery mode

from that mallady....

Jan 04, 2017 05:34 AM #26
Rainmaker
1,383,567
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

The new team members are very lucky to have you as a coach and mentor, your advice is always so wise!

Jan 04, 2017 06:23 AM #27
Rainmaker
3,328,820
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Barbara, it would be great if you could have a webinar on those topics for active rain. Your team members are lucky to be working with you.

Jan 04, 2017 06:29 AM #28
Rainmaker
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Sandy Padula and Norm Padula, JD, GRI NMLS#1483386
Allison James Estates & Homes & Realty One - Carlsbad, CA
Presence,Persistence & Perseverance

As you might know, Barbara Todaro we have long endured nearly nil inventory in California with multiple offers and over list price sales. We have learned to prospect like never before. Your proactive plan is the only route to agent rentention and survival.

Jan 04, 2017 06:37 AM #29
Rainmaker
1,030,065
Raymond E. Camp
Nothnagle - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Good morning Barbara,

Our firm has the fewest active listings at the moment since the financial crisis.

Keep plugging away and it will come back.

Make yourself an astonishing day.

Jan 04, 2017 06:49 AM #30
Rainmaker
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Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hi Barbara --- we've been singing the "Low Inventory Blues" for too long but there are segments that are experiencing some spikes in numbers.   It's all about knowing how and when to shift.  It's about being proactive and ready.  

Jan 04, 2017 09:07 AM #31
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Chris Ann Cleland
Long and Foster REALTORS®, Manassas, VA - Bristow, VA
Associate Broker, Northern VA

Whenthe market shifts, we need to flex different muscles to stay in business.

Jan 04, 2017 01:45 PM #32
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Charita Cadenhead
Keller Williams Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)

We can always count on you Barbara for an excellent commentary.  I've been away for a while, so I haven't told you that you're looking great.

Jan 05, 2017 06:59 AM #33
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Gayle Rich-Boxman Fishhawk Lake Real Estate
Vernonia Realty - Vernonia, OR
"Your Gateway to the Lake" Birkenfeld Oregon

Ohhh, those owners who think they know so much! "I can sell my own home--no problem!" HAH! Yeah, flabby muscles will take them down soon enough and then the Power Team will take over with Coach Barbara at the front! 

Jan 05, 2017 11:12 AM #34
Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

ha, Flabby muscles!! you crack me up Gayle Rich-Boxman Fishhawk Lake Realtor (503)755-2905 

Jan 05, 2017 02:12 PM #35
Rainmaker
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Dorie Dillard
Coldwell Banker United Realtors® ~ Subsidiary of NRT, LLC - Austin, TX
Realtor-Canyon Creek- NW, Austin TX Homes For Sale

Good morning Barbara Todaro ,

You are always an inspiration even when the market changes..you saw it coming in your area and have adjusted your game plan and never let up on finding inventory to sell. Love Gayle Rich-Boxman Fishhawk Lake Realtor (503)755-2905 comments..the personal trainer to the rescue!

Jan 09, 2017 05:24 AM #36
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Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900
Get Results Team...Just Call (408) 252-8900! - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

As my late mother, Silicon Valley super-agent Judy Carr, would say, "It's always a good market for someone. Find them."

Jan 10, 2017 06:13 PM #37
Rainmaker
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Beth Bromund
Coldwell Banker Weir Manuel - Oakland Township, MI

Barbara, I'm curious if you have any thoughts on why inventory is so low right now?  What in your area needed correction?  

Jan 13, 2017 11:18 PM #38
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