“So now we are sitting at the beginning of an adjustment period and we are seeing a market returning to normal.” There are 12 factors in play as you are reading this report that would describe a normal market. You have to study these in your marketplace … understand them thoroughly and be able to explain them to Buyers and Sellers as you proceed over the next 12 to 18 months.
NORMAL … Listing inventories are growing again and coming back to normal, meaning Buyers have choices. When Buyers have choices, prices often go flat or decline.
NORMAL … As stated above … we are moving quickly from a Seller’s market to a Buyer’s market, which will make Sellers unhappy and Buyers very happy.
NORMAL … Agents that work the Expired market will see Expired listings once again and as an Agent, you can expect anger and frustration on the Expireds’ listings part as they are looking backwards at higher prices that we had the year before.
NORMAL … Listings will be on the market for extended periods of time versus a few days or a few weeks when we had multiple offers. Over the last several years, unskilled Agents could take a listing, it would sell quickly and the Agent thought they had sales talent.
NORMAL … For Sale by Owners are not selling quickly and more than ever, need good Agent’s advice once again.
NORMAL … Sellers are lowering prices and skilled Agents are helping them make those decisions on a regular basis.
NORMAL … Agents who are lacking strong skills and discipline are seeing low production and are leaving the business … finally!
NORMAL … Agents who work with Buyers have the luxury of more homes to show and the frenzy of having to buy has disappeared.
NORMAL … Interest rates and financing have become a factor for both home Buyers and Sellers.
NORMAL … Agents that know how to work … understand the basics of selling … will see their income increasing, while the total number of sales is decreasing.
NORMAL … There’s less profit appreciation in homeownership, which expands the number of transactions as more people will be qualified to buy.
NORMAL … The skilled Agents will start having fun again … making substantial amounts of money in 2019 because the unskilled Agents will be more uncompetitive now than they have been in the past.
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