"What a Real Estate market", is all I can say. But, remember whose head you step on on the way up as you may need their hand on the way down. Here in the Manchester NH Real Estate Market, we have seen many years now of more Buyers than Sellers. Values that have sky rocketed. It is a reflection of 2005 all over again with a couple of differences.
In 2005 values also sky rocketed. However there was an ample amount of homes to sell every buyer that wanted one. Mortgages were easier to get. Listings were plenty and sales were through the roof. Here in 2021, we have an unlimited amount of buyers, but much fewer homes to sell them.
In 2005 agents worked together. Listing agents loved Buyer agents and Buyer agents loved Listing agents. I will get back to this relationship soon. However here in 2021, we are seeing the worst in things. Listings that are held from being seen until an open house 1-2 weeks away. A waiting period of 7 to 14 days to look at offers. Asking prices $20,000 to $50,000 lower than what the seller is willing to take to inspire bidding wars.
How many offers do you need anyway? 10, 20, 50 or 100? I just do not get why anyone needs to gather offers for 2 weeks before looking them. On my new listings i can have 20-30 showings in the first 2 days. I can have 5 great offers, 5 good offers and 5 not so good offers all in 2 days. No need to wait to weeks. No need to wait for 50-100 offers. I see some of the best offers are the buyers who rush to see the home and make their best offer quickly and up front the first day on the market.
The not so good parts of this market are agents that do not answer their phone. Do not return calls. Do not answer messages, emails or texts. It is not by accident and do not tell me 15 seconds to return a text will take too much time. Then we have new agents, untrained and thrown out to the public not ready for this complicated but great job. The thing is, buyers and other agents are paying attention. They remember how they are being treated. One day things will slow. One day there will be more homes for sale than buyers to buy them. One day order takers will go hungry as buyers are no longer lining up to give them offers.
One day Buyer agents will be courted by listing agents to pay attention to their new listings. Home sellers will wish they sold in 2021. Home sellers will also wonder when their house will sell. Those that put up a sign, put the home in mls and wait for buyers to come to them will starve. Buyer agents will smile and reach out to those agents who treated them fairly and respect. This is not like 2007, there will not be a great crash as the situation that caused that is no longer what we face today. Inflation and the government spending more money than they have will some day cause interest rates to rise sharply.
BEFORE ANY HOME OWNER HIRES JUST ANY AGENT TO SELL THEIR HOME: They should meet with A GREAT LISTING AGENT. (Not just any Listing agent) One who is "well experienced" who will stand by the through each step of the Selling process. One who will look to see what that home is worth and price it properly. Over "real" advice. Provide a great marketing plan. Lastly, one that makes the seller comfortable through out the selling process. That agent can be ME.
THE MORAL OF THE STORY is that in the end, the most important thing in Real Estate for me is provide GREAT SERVICE. I want to stand out from the crowd. My philosophy is simple. To provide more personal and professional service to guide my clients through each step of the selling and buying process.
All agents are not created equal and every consumer should take the time to hire the BEST not just the biggest agent. Let me show you there is a difference. Please Support locally owned and operated business.
Locally owned and operated since 1985.
To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .
About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 35 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties.