How to Prep for the Market Shift in Fairfield County? A Challenge

By
Real Estate Broker/Owner with Dagny's Real Estate
https://activerain.com/droplet/SVG

There is a shift happening and with that comes a new plan of attack on our real estate business.   For the past seven years we have had a declining market, and now that is changing.  We in Fairfield County, CT saw this change overnight in the first week in January.    Buyers were everywhere!    A low inventory in listings, and we had a seller's market of sorts.  Competitive bids.....

1.  How will this shift affect buyer agents vs seller agents?

Buyers agents will have to be very sharp and advise their buyers that if they see a home they like and might pursue, they should place an offer while they think about it.    The "good" houses are flying off the shelves here - meaning if they are priced right and presented well, they are selling FAST!!  

Listing agents are advised to make sure that listings are priced well and are ready for market.   Don't skip taking down the wall paper ("the buyers can take a little off" doesn't work) as the buyers are looking for the house that is Move in ready.   There are some out there, and the buyers are ready to pounce on those!     Listing agents need to have a little patience, too, as there could be another offer the day ofter your first offer, and if you rushed to negotiate too quickly, you might miss the full price offer the next day!  


2.  What marketing strategies will you need to change?

I have increased my direct mail, and am targeting certain areas and price points.   EDDM with the USPS is a deal right now!    Lots of online efforts, also.   I have been increasing my marketing exponentially since I opened my own brokerage, and it is paying off handsomely!


3.  What are you already experiencing that is causing you grief in your current efforts?

I knew I needed to have all my systems in place, and I thought I did.  However, I am not sure that I am ready for the huge push I may experience when my newest website gets launched.   Time will tell.


4.  What fears, if any, do you have about this change?

I am afraid I do not have enough agents to take care of all of the leads I will be getting ....


5.  What are the top three things a buyer's agent or seller's agent must do to be successful in the new market?

They must stay in touch with all contacts, new and old.  

They must market themselves.

They must keep incredible records so when it gets really really busy, they don't go off the deep end.

It's a fun time ahead!   Be ready!

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Sales and Marketing
Groups:
Active Rain Newbies
AR Networking
ActiveRain Challenges
Ask An Ambassador
Tags:
listing agent
shifting market
sellers agent

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
2,712,286
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Dagny - It's amazing how things our shifting.  Our market seems to be a bit behind NYC, but lately (over the last month or so), I keep hearing about places selling in 1 week or less.  Inventory seems to be rather low, so soon prices will start increasing.

Mar 31, 2013 08:58 PM #1
Ambassador
3,937,805
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Dagny looks like you are prepared for the shift in the Market when it hits, and I know that you have the knowledge and discipline to carry out the plan you have outlined.

Mar 31, 2013 10:15 PM #2
Ambassador
1,654,538
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Dagny looks like you have a handle on the shift.  I know you you will only thrive in this new market.

Apr 03, 2013 12:28 PM #3
Ambassador
1,300,175
Dagny Eason
Dagny's Real Estate - Wilton, CT
Fairfield County CT, CDPE Homes For Sale and Condo
Jennifer- you will anticipate this new shift in your area without a beat. You are ready!
Apr 03, 2013 03:27 PM #4
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
1,300,175

Dagny Eason

Fairfield County CT, CDPE Homes For Sale and Condo
List with me, and start packing!
*
*
*
*
Spam prevention

Additional Information