Weathering the storm in a market correction

Real Estate Agent with Bend River Realty

Real Estate Market Correction

This past year has been an eye operner to most realtors. In the 18 years that I have been a realtor I have not seen a market like this one. The market seems to have all the earmarks of a buyer's market, yet the sellers are holding there own in many cases going for last years prices.

In order for an agent to continue to succesfully market homes in this market, the agent must educate the sellers to price according to our current market conditions. If the home is not very well priced it will not sell.

Staging In today's market it is critical that either the property is in prestine condition, or it needs to have a substantial fixer upper reward in pricing for the buyer.

Buyer education Buyers must understand that they can not expect sellers to accept offers of a fraction of the list price, because in most cases the seller will have the price reduced to today's market already (assuming your fellow realtors are doing their job properly).

Lastly follow through with your buyers and sellers untill the job is complete. Under promise and over deliver, and you will be successful even in a difficult market.

Comments (2)

Patricia Aulson
Realtor - Portsmouth NH Homes-Hampton NH Homes

SO true!   the sellers need to be realistic for sure and price the house to sell.  What is there motivation?? I always ask what the reason they are selling.   If they are just testing the traffic then I 'm not interested in taking on the impossible dream  You have to change you tune if you want to boogie!


Patricia AUlson/Seacoast NH & ME 

Mar 28, 2007 02:58 PM
Valerie Baldwin
John L. Scott Sandy - Gresham, OR
Harvey, Gresham Oregon Real Estate
Rob you have some great observations on the market.    Good points!  The buyer/seller education is a must in any market.
Mar 28, 2007 03:09 PM