In
every market someone is rewarded.
Who wins in a buyer's market? Here's
my list:
The Sellers
- Who price well-
homes that are priced unrealistically are
languishing. Those that are priced competitively are moving. Make sure
your home is competitively priced.
- Who stage correctly-
there is a massive inventory of homes
on the market. It's not rocket science- when homes are competitive in
all
other areas, the home that's more presentable will usually "win"
the offer.
The Buyers
- Who prepare-
when there is little inventory buyer's can't be
choosey. When there is abundance buyers will want to find the home that
best suits their needs. Those who know what they're looking for will
have an easier time finding what they want.
- Who jump off the fence-
it always happens. When prices are
low people want to wait until the bottom of the market. Those who wait
may wait too long... thus buying during the frenzy of an upswing. Some
areas of the market have already bottomed-out. It's a great time now.
The Agents
- Who knows the market-
the market is huge. There are many
things to keep track of. Agents who don't constantly strive to stay on
top of the trends may not be able to spot the opportunities.
- Who work-
it's markets like these that define the agent. Those who work smart and
hard will be rewarded. Agents who step up to the
challenge will have learned what it takes to thrive in any market.
Well... that's my list; do you have anything to
add?
--------
Chuck Willman is an agent based in the Phoenix
metropolitan area. You can find him at www.AZvest.com.
;)
;)
Chuck: Very good! Why am I the first comment here? This is an excellent post!
"it's markets like these that define the agent. Those who work smart and hard will be rewarded. Agents who step up to the challenge will have learned what it takes to thrive in any market".
I love the above statement!
Here is my addition and I can not take credit for writing it, as it belongs to a wonderful blogger right here on AR, Rob Jacobs :
When a seller calls you with a desperate situation, that person is counting on you to guide them in the right direction. Remember, a short sale is the last chance they have of saving their butts from foreclosure. If you don't want it, send them to someone that can help. Often times these people are feeling the weight of their financial crisis and if you just flat out turn them down, you may be adding another foreclosure statistic into your market. Not to mention you have just taken a potential buyer for next year and sent them into the 3- 5 year category or longer.
Some of these people just may need guidance. There is free counseling for distressed homeowners. The homeownership Preservation Foundation has free counseling online and via phone 888-995-HOPE (4673) http://www.995hope.org/
Realtors are the frontlines of this housing crisis! It is necessary that everyone band together in order to do the right thing for the distressed homeowners. If it means passing the deal on to another agent or company than so be it. Otherwise, you may be selling that house to an investor at 50 cents on the dollar in 6 months. For all you know this could be the guy living around the corner from you. If you ignore his call for help, values will drop in your neighborhood too!
Dedicating a certain amount of time to doing your duty as a good citizen by involving yourself with the pressing issue at hand: Short sales and foreclosure remediation.
That's my two cents' worth.
Thank you for this post!