I received an email from our Team Leader with a link to the Inman News and there we were again.... KW in the news! The new book The Shift by Gary Keller, Dave Jenks and Jay Papasan is causing quite a stir in the real estate marketplace. Its great to see thousands of agents working together as a whole to keep the edge in a shifting market.
If you have just awakened and realized that the real estate market has "shifted," let me explain why this happens. "Real Estate is a cyclical business. What goes up must come down. And what is down won't stay there. Shifts are never unexpected but rarely predictable. You know one is coming. You just don't know when. They are, in fact, inevitable - shifts happen." (Pg.7 of The Shift by Gary Keller, Dave Jenks and Jay Papasan.)
What to do? Seek out the experts! Just like you would with any professional, you want to make sure that the information you are getting is correct and timely. This real estate market is changing monthly so each month brings a different set of strategies for buyers and sellers. Buyers and sellers need Realtors® to help them more than ever. You should expect your Realtor® to be armed with numbers and facts in this market.
"Reality is you can't sell high and buy low at the same time. If you sell and then buy during a seller's market, you will get more when you sell and pay more when you buy. When you sell and then buy in a buyer's market it only makes sense you will get less from your sale, but be able to make it up with greater savings when you buy." (The Shift, p. 182)
The end result should be that home ownership is best viewed as a long-term investment just like shares in the stock market. From your Realtor® you should expect local market statistics, financial information, and economic facts. Armed with these statistics you will self-discover that we are solidly in a "buyer's market"; in other words, this is the market where buyer deals are found!
The current market brings opportunities and once they are gone, they won't come back until the next cycle. And then prices will be higher. The market isn't dead or dormant and your Realtor® needs to educate you on why that is. It is normal for buyers and seller to be skeptical in a shifting market but remember to get advice from the professionals who are trained and study this market every day. Call your trusted Real Estate professional today and ask about their "best buy" list!
I will bring you more from the best selling book The Shift in next month's column. This book is about real estate in today's market and I believe it should be required reading for every Realtor® out there.
Always glad to be your Realtor® professional.
~Christine.
(informational credit to D. Harmatuk, KW New Bern)
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