What Did #Summer Teach You About #RealEstate?
The answer to this question about real estate could be very dependent on where in the country you live or work as a Realtor. I think most of us who are real estate agents are seeing an interesting market, and had a great summer! If you are a #Realtor, give me a “like”, “thumbs up”, or ”double-tap” if you agree!
We are in the middle of primarily a sellers market with prices increasing and inventory still low. The lower 2/3 of the market price tier sees sellers i the driving seat for negotiations, multiple offer situations, and properties selling so so fast. I have talked to sellers in both coastal, midwest, and up east markets and everything that is priced accordingly is not last on the market. Making sure sellers have a plan when they sell quick should be a major up front talk in your listing presentation as a realtor.
The upper 1/3 priced properties around the country seem to be experiencing an opposite market. With both market occurring simultaneously we call this a dual-market. Buyers are in control in the higher priced market. Some reasons are higher end homes have less of a buyer pool (demand) and more properties trying to get top dollar and end up over priced for the market. So a Buyer’s-market us in effect. Realtors need to be not only pricing correctly with seller in the luxury market, but preparing them for lower demand and higher days on market strategies.
You may have also learned how to balance work and life a little more in summer between kids out of school and vacations or family gatherings. I think there is beauty in how a realtor must learn to work all hours, off-hours, weekends, whenever, wherever, and however they need to so their career grows!
But the most important thing you should have learned this summer is…something. I hope you learned something. Something to grow your business, something about your business, something about your market…something. To continue to grow our real estate career we must never stop learning…even if it is summer time!
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