In upstate NY we experience Fall, Winter, Spring, and Summer..... Real Estate in 2022 feels as though we have had 10 seasons given the vast difference from January to November with expectations of more changes throughout the year. It wasn't that long ago that Real Estate agents could give sellers suggested pricing based on data going back as far as 3 years. What we see a lot of today is the byproduct of Realtors not doing their due diligence when listing homes. Agents still using last year's data, 6-month-old data, and 30-day-old data are being left with enough eggs on their faces to make an omelet. :-)
Realtors doing actual due diligence look like calling listing agents of similar homes that just went under contract in the last 7 days, securing the Real-Time data we need to seek out. The agents winning are serving their fiduciary (Potential Home Sellers) with the truth backed by Real Time data.
Many Realtors struggle to deliver what they fear could be "bad news" to secure a listing. Listing a home for what a seller says without the confidence to handle objections is just prolonging the inevitable feared conversation. The issue is when we have to have the conversation after the home is sitting on the market for 30 days - 60 days on the market, it's too late because we lose our credibility as a trusted resource. If sellers get upset with you for delivering real-time data and won't allow you to list their home we need to gracefully part ways with confidence.
"Mr. & Mrs. Jones, I'm sorry that the real-time data does not support the amount of money you are stating that you need to sell."
There are plenty of Realtors that will list your home for whatever figure you give them. I don't have that luxury because I invest way too much time, money, and resources into my listings for them to potentially not sell.
"You have a wonderful home and I do hope that you get what you are looking for and only ask that if for some reason your home doesn't sell, you would consider working with me in the future."
The majority of the eyes that read this blog are not licensed Real Estate Salespeople and yet, I feel that opening up the curtain a little as to what is happening in today's market brings value to all. Those that feel that this market is too volatile for them right now should look at the Real Estate market trend over a 5-10 year span dating back 100 years to see that the peaks have always surpassed the valleys so unless you only intend to own a home for 2-3 years, real estate is still amongst the safest investments you can secure.
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