Is there such a thing as a Buyer's Market of a Seller's Market? Or is it simply that we all let the perception dominate reality thereby allowing the Perception to eventually become the reality.
I personally believe that there is no such thing as a Buyer or Seller's Market. Instead I believe that there is just a Market. Here is what I mean.
In times of prosperity when most homes are selling above market value and often with multiple offers there are many homes that do not sell. The same rings true in a market such as we are experiencing today. The difference is that the perception of the market place has put a damper on those who would participate, { The Buyers }.
The negative perception of our economic well being although it may be quite well founded has given many would be Buyer's a cause to pause.
It is this great pause by many which has created the impression of it being a Buyer's Market. That of many more homes on the Market than eager Buyer's attempting to purchase. The reality is this is a Normal Market. It is abnormal for there to be multiple offers at higher than offered sales price. That is of course the type of market that most of us have experienced over the last several years. That abnormal market went on for so long, for some of you it went on longer than your careers, for others like myself who have experienced many peaks and valleys, I see it for what it is. A point in time!
In this Normal Market there is more work to do. For the true work of a real estate agent is one of Previewing, Prospecting, List and Sale. It is not one of Juggling the appointment book for the high number of Buyer and Seller calls that you have been used to receiving over the last few years of that former Abnormal Market.
It is time we all face the reality of today's Normal Market and attend to its needs. It is time to go back to work, Back to The Basics.
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