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I have to work 35% harder to get the same or lesser results

One thing I have noticed about the current state of the market is that I have to work 35% harder at just about everything.

Why you ask?

Because there are 32% fewer buyers in the marketplace this year. Volume of sales is down by 32%. In fact I think I am having to work 66% harder. There are 32% fewer bueyrs AND 32% more homes on market as well.

This means we may have to list 3 to sell 1, vs. listing 1 to sell 1 in the past few years.

Perhaps they will all sell eventually, but clearly not many are selling within 30 days. I used to be able to count on most selling within 30 days, unless I was picking up an already on market listing. As long as I was the first one out the gate, an offer within 30 days was a given.

No longer so...

If you are not working harder AND smarter BOTH in this market...you may not make it.

Posted by ARDELL DellaLoggia on 05/15/2008 01:02 PM

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14 Comments on I have to work 35% harder to get the same or lesser results

MAY

2008

Ardell~ You are so right about having to work smarter and harder. Those that are doing the same as they have always done, are very likely to not be here next year. There a re many changes that we as agents must keep up with in order to be the best in out field.

Ardell, our numbers too are showing about 30% of the active inventory selling but after a much longer market time. I no longer believe it is price, buyers need a shot of confidence. My personal opinion is that here in the greater Seattle area, the slowdown is all about consumer confidence rather than any true economic factors.

I am working a lot harder for the same amount of deals too. Thats okay. I will be better for it in the end.

Ardell,

Thanks for telling it like it is...

...and, as a vendor, I am trying to work smarter, but may be genetically prohibited from doing so.

Steve

Ardell,

We just need to make some better choices in listings and buyer clients.

I guess those things fall under the "Work smarter" heading.

Let the other folks have the "No Sales" and the lookie-loo's."

Hey Ardell

I was reading this very interesting article on this press-shy broker in NYC and how she treats her job and her obsessive desire to know everything about the market.

It's a great article.

http://ny.therealdeal.com/articles/top-townhouse-broker-speaks

MAY

2008

Good article Ardell. I like the way you are personally dealing with it by taking matters into your hands and making it happen. That sure beats sitting around and crying in a coffee cup while aggressively i for the telephone to ring.There are many people who, instead, try to follow that path to success.

Hmmmm...

I just looked at my market... June of 2006 was the highest number of sales in Thurston County at 502 homes sold that month, but the 6 month average of that summer was about 400 per month. We are selling about 250 homes per month now, maybe a little less. That is a 39% drop in numbers of homes selling. That is a lot of extra work!

MAY

2008

Yup Sarah, that's a little worse than our King County Average of 32% fewer sales. Some areas are doing very well...so others are doing much worse to make the overall number 32%. There's a neighborhood in Redmond that seems to be selling as soon as a house hits the market, unless they are really overpriced.

Ardell - Our sales in Nashville were down 28 percent last month, and inventory was up 20 percent. I have noticed a lot of activilty this month, and buyers have been buying home, at least mine. I think the tide has turned in this area.

I do expect to become a much smarter real estate prefessional because of the lessons I learn here at active rain. Keep showing us the way.

MAY

2008

I am so tired. I agree, working harder for less. Sales are 50% less in some areas in Westchester County year to date over last year. The good news is that I am busy.

MAY

2008

Ardell - We've been working 66% harder for 2 years... Central Florida is littered with agents who've given up and left the business! I've given up watching television to work and spend endless hours prospecting for new business... I think that there will be 66% less REALTORS when the market turns around here.

The truth is the truth. These are some taxing times. Best wishes in all your efforts. Don't overwork yourself and foremost remember to manage your life and enjoy.

MAY

2008

Dionne,

I am overworking myself, but I don't have a choice at the moment. Looking forward to a big break somewhere down the line.

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ARDELL DellaLoggia

Seattle, WA

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