The Future Has Never Looked Better

By
Real Estate Broker/Owner with Northwest Equity Home Sales

Since beginning our real estate career in March of 1998 with John L Scott Realty there have been many notable changes. In 1998 the NWMLS (Northwest Multiple Listing Service) had approximately 11,000 members and subscribers across the State. Since then they grew to an incredible number in the range of nearly 40,000, in part due to an increasing territory but mostly due to a vigorous desire by independent people to take advantage of a robust housing market by starting their own businesses. Either way that is a substantial increase in membership and subscribership.  

During that time we seen home ownership increase as financial institutions created loan programs to assist first time home buyers, home values climbed as sales spurred by the desire to take advantage of investment potential, and home equity was used as leverage for move up buyers seeking larger homes.

The market overall was creating many jobs as builders scurried to build homes, agents worked to find ready willing and able buyers, and lenders worked diligently to secure financing. Everyone, especially buyers and sellers were satisfied. We built a bubble.  

In the last few years we have all been witness to falling sales number and large numbers of associates leaving the NWMLS. Currently we have 24,409 associates in the NWMLS which when averaged over the course of the last three years, translates to a decline in membership of 15% year over year. Those who prepared for this bubble and positioned themselves for the future have been doing quite well.

Looking forward, the future could not look better. We have less competition and more opportunity, what else could you ask for?... 

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