For the past 5 years or so, the Dallas real estate market has been in turmoil. Buyers who wanted to buy but couldn't find financing, and sellers who wanted to sell but didn't have the equity in their home because of the market drop. Today, the Dallas real estate market is facing a paradigm shift. Buyers are able to get financing, and sellers have seen much of their equity rebound. So what's the problem?
The problem is that this paradigm shift in the Dallas real estate market has come quickly and quietly... with the national news just barely starting to come around, the Dallas real estate market has actually been improving about a year. Many of the sellers who attempted to sell even 12 months ago but couldn't haven't yet realized that property values are up and inventory is down. They don't realize that they may be able to sell their homes - at a PROFIT today, where a year ago it would have been for a loss.
One of the primary jobs of a real estate agent is to educate buyers and sellers alike. Educating buyers is a bit easier - they come looking for the information. Sellers are a bit tougher They may not be looking for the information because they hear the news and think that they can't sell, so why look?
In today's Dallas real estate market, our inventory of homes is VERY low. In some neighborhoods the inventory is measured in days and weeks, not months and years as it was a couple of years ago. We are seeing multiple offers on homes within a week that they are listed, and some homes selling before they ever hit the market - for full price or above. They key in this market is listings. Bring the listings, and the buyers will come.
I have always been an internet adict. Over 90% of buyers start their home search on the internet, so that makes it the common sense place to have a huge presence, right? The internet doesn't work as well to generate sellers. In order to compensate for this, a large part of our marketing budget is going to snail mail. That's right, the good ol' United States Postal Service. Utilizing programs like the Every Door Direct Mail system, you can blanket areas with mailings targeted to sellers much easier and much cheaper than you could previously. Utilizing these mailings, you can PUSH the education to the sellers in a place where they are more likely to read it - in their mail box.
In a changing market, a real estate agent must be able to adapt, adjust, and overcome any obstical. Those who are able to adjust to the changing Dallas real estate market and adapt their marketing and lead generation appropriately will be the agents who not only survive, but thrive. Be willing to take some calculated risks because that is what it takes to be successful. Michael Jordan said, "You miss 100% of the shots you don't take." Take a chance and go after your target market.
If you are reading this and have a home to sell in Dallas, the B&B Realty Group would be happy to help you out. We bring a high tech touch to home sales and put your home in front of millions of people across the internet and right here in town. Give us a call for a no-hassle evaluation of your home's value or visit our Dallas home values website for the latest statistics. The Dallas real estate market is experiencing a paradigm shift and this is the best time to sell your home in recent years.
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