Curse the darkness or light a candle…

The real estate market is really hard right now. Listings are hard to get and buyers are struggling to get a deal. Agents are seemingly working twice as hard and getting less for their work. Vendors are stretched causing delays and heartburn. Like I said it’s hard to be in real estate right now.

However… however… I can’t think of a better time to be in real estate… if you are willing to put in the work, have a deep understanding of your seller’s and buyer’s goals, and have mad skills to make things happen.

Right now, you don’t need a ton of inventory to make a lot of money. One listing almost always means multiple offers and one sale. That one sale is also significantly more valuable than they have been in the recent past. Get a listing and it’s almost as good a cash… right now.

Right now, money is cheap and that means buyers have a ton of purchasing power that they haven’t had before. This means if you are working with a buyer they have the ability to pay more for a property then they probably have ever had before. That equates to bigger pay checks for you buyer agents.

What to do?

Light a candle!

First, be thankful you are where you are… when you are. Having a strong positive mindset will get you though the tough situations you are sure to encounter.

Then, make sure you are asking your clients (sellers or buyers) enough questions so that you know their goals for selling or buying better than they do. If you know their hopes and dreams, you will X times your ability to help them achieve their goals and both sellers and buyers will reward you for that.

Next, do the work so that you know who is looking to buy and sell what. This is knowing the inventory. Inside and out. Go to the homes for sale, drive through the neighborhoods, understand the HOAs… BEFORE you take a client to them.

After that, understand that the market is always changing, and right now past sales comps don’t carry the same weight as the For Sale, list price comps. Appraisals are a lagging indicator and are always going to chase the market – up or down. Teach yourself and the buyers you are working with how this phenomenon works and you will get more deals together. Do not let a deal get tied to an appraisal result - it is way more important to make sure the deal is tied to the Buyer's long term goal for owning a property.

Also, don’t get stingy with what you are willing to pay for the services that you need to do a deal. Pay the handyman and contractors the high prices they are asking. Pay the inspectors and appraisers. Pay the HOAs to provide the necessary paperwork. Whatever the case.

Granted, make sure it’s all above board and DO NOT skirt any laws or rules – for sure… but… but… but… everyone is incredibly busy and short staffed right now so if vendors know you won't hassle them about price - you may be able to ensure YOUR CLIENT’s needs are pushed to the front of the line. Again, make sure it’s all above board and don’t skirt any laws or rules – for sure.

These are some things you can do to give your client’s and yourself a better chance at success in the current market we find ourselves. Take a few minutes and add some of your own to the list.

As you consider this post also know that without question… this current market… will change. In a time not too long from now, Sellers will be seen as a dime a dozen and Buyers will be in short supply. But because the real estate gods are always making sure things are even… the money available to buyers will be hard to come by causing prices to drop and days on market to soar.

In short, buying and selling real estate in the future will be very hard… but in a different way. And you will need a completely different skill set to succeed at a high level.

So... so… so… Enjoy the current market and all it offers you but keep one eye on the future and make sure you will be ready to excel there as well… because it’s coming.

You got this. Here we go. Let’s get it.

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I hope y’all get a chance today to really take a good look at what you have and create a plan to maximize it.

And just as important… and just as important… be sure to cast one eye to the future so that you are ready for what is sure to come next.

You got this.

 

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John Moran l Listing Specialist and Team Leader
Keller Williams Realty's At The Beach Team
Destin, Florida 32541

Ranked in the top 1.5% in the MLS for 2007 - 2012.

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