In her book, “The Insider’s Guide to Buying Real Estate,” Amy Waterman breaks down the key areas that agents need to focus on to take home even more cash for their clients. While she does give some “tricks of the trade,” (most agents don’t know about these secrets, but if they did, they wouldn’t share them with you.) What she does is show you how to become one of the “in” crowd, so to speak, when it comes to seeing great real estate deals come to fruition.
Let’s face it, and when it comes to real estate transactions, the buyer is king. Most of the time, this means they have the last say about what happens to a home they are buying. This includes such decisions as to whether or not to fix up the property, change the locks, etc. Many agents aren’t up to par with the latest trend in home decorating and staging. The result is that buyers are always in control of what happens with their homes.
While this can be great for buyers, it can also be bad for sellers. When mortgage rates are at all-time lows in this day and age, most real estate experts agree that sellers must do whatever they can to keep their homes from getting lost in the “hare” house shuffle. In other words, sellers must try to find creative ways to keep their houses from getting trashed in the midst of a housing market that has fallen flat on its face. In fact, this phenomenon has even reached the heights of the Post, which recently published an article stating that half of all homes in the area are selling at prices that are lower than they’ve been at in years.
Of course, one could argue that these low pricing bargains are part of a larger nationwide trend of lower home prices across the board. However, when it comes to real estate, agents are taking the situation in stride. With experience in the field and a keen sense of what buyers need, they are doing everything possible to make sure their clients get the best deal. It’s not surprising to anyone that real estate experts and others in the industry are confident that first-time buyers will continue to have a tough time finding houses at affordable prices.
The bottom line is that while a buyer’s market may be good for the economy, it’s not good for the real estate market. In the aftermath of the Great Recession, mortgage rates have continued to increase, which has left many homeowners between a rock and a hard place. They want to sell their homes, but they don’t want to sell their homes at market value. This, in turn, has driven up the cost of living, which means that those who are desperate to sell are doing everything they can to get the best price.
However, real estate agents aren’t just worried about keeping their clients from spending more money on mortgage payments. As the Post noted, real estate experts have warned for some time that the troubled economy will lead to higher real estate prices. Indeed, some analysts predict that the housing market will see a new plateau or level after the end of the year, which could lead to a glut of properties on the market, high prices, and less interest from buyers. If you’re someone who’s thinking about buying a house or renting one through an agent, there are a few things you need to know to be prepared for what is likely to be a very tough market.
The most important thing you can do as a real estate professional is to remember that you are competing with other agents. Your goal should not win over your clients’ hearts but to ensure that they remain clients by providing exceptional customer care and an overall higher overall experience. If your marketing systems are dragging, forget about your marketing systems; concentrate instead on improving your client care, client service, paperwork, and other administrative support. If you can combine these three elements and provide an experience above and beyond what you’d normally expect, you will be able to take advantage of a buyers’ market and make the most of it.