It’s official. Despite what some may be telling you, I believe we are definitely in a Buyer’s Market. My investment property listings are still getting showings. My investment buyers are still looking to scoop up values. But my “regular” residential listings are getting shown at a snail’s pace.
Many of my colleagues are coming up with unusual methods just to draw attention to their listings. And I’ve begun to follow suit. So beware Sellers, it’s not your market anymore.
But now the good news for us here in the heartland. Our sales have slowed and our price appreciation has held on or flatlined, at worst. But my associates out on the coasts are running for cover. Sales down 26% in many parts of Florida. Down 20+% in the Phoenix area.
You are going to see a shakeout of REALTORS and mortgage brokers. Is your REALTOR still in business? For those of us who consider ourselves professionals, we’re not too worried. Hard work and innovation always has it’s place. But for the order takers and the ones that put up signs and waited for the offers to come are going to be in trouble if they never learned how to market.