We’re in a tight market. That’s just the reality. There are more buyers than there are sellers, which is driving prices up.
With prices going up, homes are taking longer to sell. And to top it all off, interest rates are rising (4.7% in August compared to 4% earlier this year in January). So now, less people are selling and less people are buying.
So what’s the solution?
Realtors need to do their jobs better.
Part of a realtor’s job is knowing the state of the market. Both nationally and locally. And if more realtors shared the state of the market with their clients, it would likely result in more transactions happening. It’s really that simple.
Now sure, it takes time. It also takes craft to respectfully challenge our clients’ beliefs on what’s a fair price. But if we want to see some changes, it needs to start with realtors educating their clients about current market conditions.
There are 1.3 million realtors nationwide and we know what our clients want.
- Sellers want to get top dollar.
- Buyers want to get a deal.
Realtors on both sides of transactions need to tell their clients that what they want is not exactly possible given the current market conditions. So in order to make a deal, we must compromise.
That’s the solution.
Realtors. All 1.3 million of us need to do our jobs better. If we do this collectively, we’ll see some changes. We need to educate our clients so we can get back to a balanced real estate market. A market where both buyers and sellers are happy.
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