You Need an Edge
I get asked this same question every year, "Denise, why are you so passionate about doing an entire analysis of everything: real estate, housing legislation, new construction, jobs, transportation, migration, infrastructure, and more?"
The answer is simple. When you know more, you are able to share more. When you are educated about things related to our occupation - and real estate affects and is affected by nearly everything - you have an edge. That's why I do it.
I do it so you and my clients can have an edge over the competition and serve your clients better.
I'll give you a couple great examples.
Residential Resale
There's a lot going on in residential resale real estate right now. A lot! A lot is going on with compensation in this market segment, inventory shifts, and big businesses that want to cut-in on traditional real estate agents for a piece of the market-pie. So, what I like to do is a real deep-dive and research where those threats really are happening and what kinds of opportunities might they be creating? When you take the time to get in touch with your market, tracking listings, weekly pendings, and stopping by the permitting office every couple months to see what new inventory and changes are happening, you will be ahead of the game.
Housing Legislation
Housing legislation is also a huge one. You need to be in the know about what is happening because once you know about what's going on it allows you to prepare. For example, here in the State of Washington, I knew that legislators were realizing they had to do something about the lack of inventory and that housing is too expensive. I knew there was going to be a house bill that would allow us to build ADU/DADUs. I saw it coming. That gave me an edge and it allowed me to teach my clients about it. That meant my coaching clients had an edge when they went on a listing presentation, they could talk about it too. It meant I could help them get certified on doing a market analysis on property potential with this as a factor.
Inventory Trends
Knowing what's going on around your industry gives you a crystal ball into what is in the future. Market knowledge helps you to foresee where the market trends are and where they are going. For example, different types of inventory that used to perform really well (or not so well) are starting to shift. If you know what that shift is and where it is happening in your market, you have an edge over your competition and will be better positioned as an agent when you are listing those properties.
Honing Your Edge
Every year I do my State of the Market presentation. Agents who attend know more and are better prepared. They are able to take that information, apply it to their business, and be ahead of the game.
I want everybody to have the best 2025 possible and that means that I hope you will take the time to develop your edge. Build your business knowledge. Learn what is happening at your town halls and in your local legislature. Find out what's being built and planned for in your area at your local permitting office.
And - if you need help catching up on this year's market and want the insight of someone who has been studying markets both here and all over our country for decades, from someone who is active in government and has the inside scoop on upcoming legislation, then come to my State of the Market. Registration closes this Tuesday the 21st at 4 PM Pacific and showtime is Wednesday the 22nd from 9 AM to Noon. You will not regret coming and your business will be better for it. See you there!
 By Denise Lones CSP, CMP, M.I.R.M. |
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