Oil Prices & Real Estate!!

Home Builder with Choice Homes-Little Elm from $140's



If you haven't noticed already, gas prices seem to be a little high. I don't know about you, but my family and I have really adjusted our driving habits quite drastically. Everything from a simple thirty minute drive to visit family, to a summer trip to west cost is being thought about twice.

Here in North Texas, gas prices are hovering around $3.85 per gallon. As a new homes sales consultant, I have the luxury (not necessarily the freedom) to work out of a sales office and limit my travel for sale related activities. But what about those folks who make a living on driving clients around looking for homes, or have to hustle to land a listing in an area they would normally refer to a more centrally located agent. As a "once upon a time" agent myself, I know the difficultness involved to get started in the industry. There are enough fees and other costs involved in staying above water in this line of work other than worrying how much a 40 mile round trip will cost me to land a client.

I'm curious on how agents have adapted to these modern times. Working smarted, not harder has been the motto to live by in just about any industry, but is this compromising your production due to the current costs involved in simply operating your vehicles? On the other side of the spectrum, how is this affecting the locations your clients are considering? Are they still looking at those far off suburbs, or are they staying in more inner city regions or sub-districts? All of these things could be thought of as signs of the times.

I'm not an alarmist nor do I think our economy is in total shambles. Call me crazy, but I think looking at the big picture, the U.S. economy is still fairly strong regardless of oil prices. I haven't seen any soup lines becoming to the norm across the country or any great migrations to Canada to take advantage of that great health care system they have (that's another topic)....right? Here in the in Dallas/Fort Worth Metroplex, the argument could be made that the housing market is still going strong. Just visit such sites as DFWHousingFacts.com and read about why this is the best time to buy in Dallas/Fort Worth. If you're not promoting these types of websites to your clients, start now to reinforce the fact that buying now is the right thing to do. Perception is not realty, it's just perception. It's like convincing someone that when a tree falls in the forest and there's no one around to hear it, it still makes a sound. Go out there and hear for yourself. Don't get me wrong, we are going through some economic struggles and oil prices will be a big part of some big shifts on how we all live our lives. But maybe that's just what the doctor ordered. Now more than ever, we are making major improves or modification to not just the way we drive, but to how we build cars, homes, how we recycle, how we grow and make food, and how we spend. Just like the Beatles needed the Rolling Stones, Coke needed Pepsi, and man needed woman, we should view this is as an inevitable change that will for at least a little while longer, bring future success and prosperity in to our lives. In the mean time, drive smarter, slower, and more selectively. Live that way too, you'll be glad you did.       

Comments (5)

Debi Ernst
St. Charles County, Missouri - Prudential Alliance Realtors - O'Fallon, MO
GRI, e-PRO, Broker/Sales Associate

I know that we are adjusting our driving habits nowadays.  More than ever, I've been making it a point to get my buyers pre-qualified before driving them around.  I also try to do all of my errands in one trip.

Jun 07, 2008 09:42 AM
Pam Joffe
Solaris Realty - Tampa, FL

Good afternoon Rony - Welcome to Active Rain, one change I have noticed is agents won't work renters there is just not any profit in it.

Jun 07, 2008 09:46 AM
Sara K. Braden
Bloomfield Homes - Fate, TX

Great first post Rony!  I happen to agree with you that we do not need a bunch of Chicken Littles yelling that the sky in falling.  We are blessed that we are sheltered here in the greater Dallas Metroplex.  That being said (as I am an optimist), the gas prices have effected me and my family as well!

I am ashamed to say that I love my SUV and being able to take an entire family out to view a home is important to me.  So, that translates to HIGH cost.  Guess I will grin and bear it!

Jun 07, 2008 09:50 AM
Doug Fritchie
DOUG FRITCHIE-Silver Legacy Properties,Inc. - Portland, OR

Hey Rony~ Oil prices are hurting our economy in more ways than we can possibly imagine.

Jun 07, 2008 12:19 PM
Jimmy McCall
JimmyMcCall.com - Cunningham, TN
The Ex-Mortgage Consultant

Rony,  Welcome to Active Rain and congratulations on your first blog post.  It looks like gas prices is going to be a hot topic here in the Rain for a while.  Good luck with AR and happy blogging.

Jun 15, 2008 06:57 AM