If you are still in a “gloom and doom” (how can you be?…it’s the start of the Holiday Season!!) mentality, two people are going to suffer: first of all, your buyers who will think they can wait forever to buy a home before prices go up; and you because you won’t be making the commissions you should. With a “gloom and doom” mentality you are not getting in front of the people you should be with the news that real estate is unquestionably now turning around and the time to buy (and sell) is right now. Both Donald Trump and Warren Buffet have recently stated that this is exactly the time to buy. The strong scent of opportunity is in the wind, the question is only who will take advantage of it?
My thoughts: stay in front of buyers every chance you get. Opens are proving very productive right now. With the 30% drop in the Realtor population and the negative attitude of many others, your competition has been greatly reduced and many of the remaining are demoralized hence ineffective. Work your sphere intensely. Current real estate trainers are recommending weekly or bi monthly contacts and emails make it very cost effective.
I also recommend you refocus on homes priced under $250,000 with more emphasis on getting the listing with, impactful pricing. The huge bulk of the sales are in that price range.
We are starting to see movement in the $750,000+. Why are we seeing the higher end of the market starting to loosen up?? My guess is simple; the higher end has been sitting on the sidelines for awhile, watching and waiting. I now believe that they do see the current value out there and the bargains to be had! So they are investing (buying) those top end properties. I think they are heeding the advice from those who know, such as Trump and Buffet.
Remember this; there are plenty of people within your sphere of influence who are not upside down, who actually have equity in their homes. Yes…granted not as much as before…but they, never the less have equity!! These are the people you need to contact and show and explain to them how they can benefit from the market! They can purchase their dream home, downsize, buy that lake property, invest in real estate, buy a home for their children, etc…etc… What are you waiting for!?!? I believe you are doing a disservice to your people and yourself, if you don’t make the calls! We all know someone who can take advantage of the opportunities that are out there. Only if we show them how!