Hows the Market Day 61 Your Million Dollar Year. This is a question any real estate professional should be able to answer in detail when asked, and you will be asked. National trends in lending, inventory, prices, days on market (DOM) and other stats should be followed and understood by the professional. Here in the Boston area we often lead the market in prices. For instance Lawrence Yun, chief economist for the National Association of Realtors (NAR) recently shared that nationally although fewer house have been sold this year than last the interest rates remain low, DOM is going down as well while inventory of available housing is going up. The average house nationally costs $267,300 which is up from last year.
Here in the Northeast the average house costs $277,700 up from the year before as well. In my town of Newton the average price for a home in April of 2019 $1,580,598. There were 42 completed sales in April with the lowest price being $627,000, so these stats we read from a national perspective do have to be understood from your own town. Be informed, be open, be honest and be helpful. It is not about the commission, it is about the relationships.
To be liked and trusted which are the key components of any relationship you need to be informed and open. If all it is for you is about the commission your prospects and your clients will smell that quickly and you will be pushed away. Don't be that greedy agent you have the opportunity to serve your community and its neighbors and all you have to do is your job. The new Virtual Agency models like an eXp does not have offices where younger agents can get wisdom and understanding. For that reason agents will be more isolated. Real estate is a full contact business and it is important that, on a daily basis, you are talking to people. Hows the Market Day 61 Your Million Dollar Year