Hold on to your hats!!!!! The worst is yet to come!!!!!!!!
As realtors we have been holding onto our seats for about 6 months. We went into 2007 with a positive attitude and it looks as though we are trying to bring in 2009 with the same enthusiasm we had in 2007.
Here are some insights to the comming year!!!!!! Hold on!!!!!
All year we have been told if the house is priced right it will sell !!!!!! Guess What!!!!!! They are right!!! It will sell!!! So why are all the realtors still taking Over Prices Listings?
The answer to this question is: most are afraid if we don't we won't have any business! NOT TRUE!!
If we do not take (this means all of us) over priced listings the SELLERS will finally get the message ...THEY HAVE TO PRICE THEIR HOUSE RIGHT! Make it easier on yourselves DON'T TAKE OVER PRICED LISTINGS.
Sellers think what they hear on TV does not apply to them.
The Answer it does and it is up to us to make sure they know it! DON'T TAKE OVER PRICE LISTINGS!
Buyers are waiting because they think the prices are going to come down more!!!!!
The Answer: Guess What they are right they are going to come down more.
How do we get them to buy?
The Answer: You do your homework. Run Comps on the properties they are interested in and then deduct the percentage downward u anticipate by the area. It is safe to use 1 to 1.5% per month in most areas, or speak to an appraiser and see what they are using as a key to the appraisal. * (Note where there is an increase in activity they are running flat......... ) Then base your offer on that number and fight for your buyer... remember to present the offer yourself. Make sure your clients are approved not just qualified, speak to the mortgage rep... and find out how fast they can close!!!! Use this as a tools for making your offer. If all fails you can bet your last dollar you will not loose your clients they will be with you until they purchase their home. You have just established trust and knowledge this is crucial in this. market!
I will post part 2 next week! Let me know how u do?
Diane Turton Realtors, 45 Main Ave.,Ocean Grove, NJ. 07756