We All Have Decisions....
Not too long ago, I was on a conference call with pros across the country, discussing our individual real estate markets. While there are definite differences from the Southeast and East to the Midwest, there are many more similarities in each of our markets. Here are a few of the issues that my friends and I encounter with this “new” market.
Staging is one of the top strategies in a highly competitive market. If you ponder this for a moment, it makes a lot of sense. In any given price range there are countless homes vying for the attention of a diminished buyer population. With many of our buyers today determining their “show list” online, the more attractive a home actually determines IF that home will have in-person visits. A colleague of mine said that not only are we in a price war, but we are in a beauty pageant as well. How true!
This leads me to my second point. One of the most important things a seller can do is to price their home at a compelling price. Most of the pros on the phone conference noted competitive pricing does not work anymore. This is the tension point with most sellers who are disadvantaged with a lack of real time information regarding home values. The professionals see day in and day out what is happening in the local markets with foreclosures and short sales. We know from each transaction how these prices are affecting our neighborhoods, and it is up to us to educate the sellers we sit before on a daily basis as to the real value of their home. This is not an easy discussion, but is one that we must have if we are to see a turn-around in our local real estate markets.
One of the points that resonated with all the conference call attendees is that we are the vital link to our sellers as to what is working and what is not working. Those factors are now changing quite rapidly and the agents that are on the forefront will have a better advantage than those catching up with the market. Most agents I know are well-informed.
I am a third generation Realtor and my grandfather and father have never seen a market like this before. We are in unchartered waters where the old rule book no longer applies. The best way to navigate through these turbulent times is to work with your Realtor. You may not like the advice or the price, but in the end it may be the very best advice you recieve.
Posted by: 
Glenn Hanon
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