What you should do in a market that is rapidly changing around you.
What do you do when the market doesn’t quite feel the same? How should you talk to your customers about what’s happening? The market is dynamic, and conditions are always changing. As an agent, you need to be on top of the latest market updates so you can explain to your clients how it will affect them.
Home prices might flatten out a little bit, but we still expect them to rise over time. Four of the past six recessions did not impact the housing market, and the conditions now are different than they were in 2008.
If you were an agent in 2008, you knew that there were crazy lending practices. Builders built and built until homes were everywhere. Things are much different now. The market is more regulated, lending practices are stricter, and we’ve effectively lost a decade of home construction.
“Be the experts your clients expect you to be.”
I want you to look at the market numbers. Get the market report from your local Realtor association and add the talking points to your vocabulary. Be the experts your clients expect you to be; educate yourself so you can educate your customers. Share what you learn on social media, newsletters, cocktail parties, and book clubs.
You are the expert. Your sphere of influence depends on you to help them navigate this market. Almost 50% of the agents in our area didn’t make it through 2008. You might not be one of those, and that might not happen again. However, you will need to build up new skills in this changing market. Do you know how to handle price reductions, and how to price a home so that it sells quickly?
If you’re not already plugged into a larger group of successful agents, now’s the time to do so. If you have any questions or would like to talk about those opportunities, call or email me. I’d love to help.
