What Kind Of Market Is This?
One of the greatest thing that I am constantly reminded of is that I know very little and that there is a lot more to learn.
I lost the opportunity to sell a home this year when competing with another agent because the other agent had been in the business for 20 years. The sellers wanted someone who had been through these tough times before. It didn’t seem to matter that during the current market situation I had sold over 4 times the amount of homes as my competition (sorry, I can be a poor loser). I understand their concern.
I know a lot of agents who have been in the business of selling homes for over 20 years and have been very successful. They have shared with me that the current market conditions are the most difficult and unique times they have worked through.
Writing this blog has forced me to stay on top of the current market conditions more than anything else. However, I have to say that I spend much of my time asking questions for clients and seeing the standard procedures of real estate practice changing often.
Is this a buyers market? Well, if that means a buyer can get a good deal with a good rate…. YES… Resoundingly YES.
HOWEVER, are buyers finding so many homes available that they can afford to take their time… NO. There are so few good homes available that require little repair. We are also seeing competing offers like never before.
Is this a sellers market? Well, SORTA. With inventory being this low the answer is yes, but so few sellers have enough equity to take advantage of it, so we aren’t really seeing the affects of it. So, I can’t give it a hearty yes.
The moral of the story… These are unique times. Challenging, but opportunities are there… To buy and sell. To learn and grow. I am thankful.
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