Daily I am visited by agents in the company who are looking for educated answers, facts and figures, and sound advice they can share with their seller clients. Their sellers anxiously ask what marketing tool, new website or magic pill will cause the home to sell? Unfortunately our industry has been amazingly lax in tracking results and sharing the data with our clients. In a market environment such as the one we are experiencing, we must act and behave like a Fortune 500 Company. Have we adequately analyzed our businesses? Have we identified buyer behaviors and trends? Are we target marketing based upon the knowledge we collected from our analyses? Or, are we simply rushing to tell our seller clients that they must reduce their price...yet again. In a vacation/resort market such as ours, few sellers are really pressed to sell, and even fewer buyers must buy. However, the types of buyers we attracted in droves in 2005..the ones who entered into frenzied bidding wars for the properties of their dreams...they are still out there. They may all be taking a collective "deep breath", but they will be back. For the seller who does not have to sell...this is not the time to panic, and probably not the time to reduce the price, rather it may be the time to sit back and hold tight! We assure our seller's that we'll let them know, before the media does, that the pendulum has swung and that it is once again a more balanced market place...one in which a seller can expect a greater return on their asset. What say you?
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