My clients have been asking me if I feel that the real estate market within the residential realm is changing. I say, the market is in a unique position right now. Not unique in the sense that it has never been here before, but because it hasn’t seen a position like this in a long time.
With the emergence of what I call a ‘shelter-centric’ society, we have become very focused on our homes. The place where we receive shelter has taken a new look and higher focus. Sure there were always some people who dealt in real estate but today we have home trade and home improvement shows galore and we keep a close watch on the market value of our home as well as everything and anything that has to do with its value. We spend our life savings and borrow money to make the place we spend much of our time in pleasurable.
Most sellers who have become accustomed to a market that is on an upslope are raising the prices of their homes because they are still in the mode of the rising prices and they know how important their property is. Many buyers are not willing to pay these prices because they cannot afford it and they have become well educated about what they should be paying. So if you ask me, the market is not falling, it is stable. It is also slower because of the time it takes for the buyer and seller to have a meeting of the minds. If a house is priced at market value it normally sells within a reasonable time period. If the house is remodeled it will sell within a reasonable price above what it would sell for in original form. If the property was remodeled lavishly it will take a unique buyer who will see value in the extra money spent. A unique buyer takes time to find.
Buyers and sellers are doing intensive research on the internet. They do their research directly on the MLS. For this reason in order to be more satisfied with the transaction a savvy home seller or buyer must hire a real estate salesperson who will give them an ‘extra bang for their buck’. This added value takes place when the following takes place:
- The Buyer/Seller connects well with the salesperson
- The Salesperson understands the style and needs of the Buyer/Seller and works for their benefit to achieve those goals
- The Salesperson uses his/her experience and real estate data to find an outside-the-box approach to achieving the Buyer/Sellers goals
Many salespeople use other professionals to do such things as open houses and even negotiations for them because they simply do not have the time to treat each client personally themselves. They are not able to provide the service that they are being hired for. Also, it is simply not enough to put a house on the MLS and wait to see what happens. Selling a home for its potential price takes marketing and effort. Buying a house takes viewings of homes and reports that will educate the buyer regarding what they are getting.
Times are changing and we are facing a different landscape. Technology has given the average buyer and seller the capability to do what in previous years would have been the role of the professional. In today’s market, you need a dynamic salesperson who will add value. As a salesperson, I work with every client on a one on one basis to make sure that I have tailored my approach to what their needs are. I go above and beyond and think outside the box.