All of us have read the papers, seen the news reports, and lets face it, experienced a lot of the fear and uncertainty that a down economy can bring. I have heard from many of you who are scared about losing your job, scared about being able to save for your kids college, or even just make the house payment.
How is all of this fear affecting our local real estate market? Well, in many different ways. We are helping many families avoid foreclosure by negotiating short sales with their lenders. We are helping more first time buyers than ever get a home at a great price, and we are finding some great properties for investors. The bottom line though is that it is changing the way people view real estate, and real estate agents.
I have received numerous calls from clients this week asking about market conditions, mortgage programs, renovations. The biggest theme from those conversations has been that my clients are looking for good, solid advice and viewing me more as a consultant than as a traditional salesperson. This makes me feel good. No longer are buyers viewing houses as they would view a stock purchase and asking how much the place will be worth in 6 months in case they need to sell it because they can't afford it (yes this happened before), no longer are sellers trying to "double up" on their investment when they don't really need to move, and very seldom are people "flipping" successfully unless they have a smart business plan.
The agents who have not adjusted to this new market climate, and focused on building business for the long term are starting to disappear. I am finding that the only agents doing business right now are the true professionals, and for that, I applaud my colleagues. The customer is demanding that their Realtor have the knowledge, experience, and right attitude during this market. They need us more than ever, and those of us who listen to the customer, and get them the help they need will prosper in this, or any market.
Sean Carroll
908-376-1569
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