For as long as I have been in real estate everyone has argued which is better is it to buy homes with clients or is it to sell homes with clients. Some say that listings bring in more buyers which is like a self feeding operation always growing with leads. Others will argue that buyers are better cause they always buy and sometimes sellers will not sell because they are unreasonable. There is an argument for each side of the equations so here are some of my personal feelings
If we are in a buyer’s market or seller’s market each of these has their ups and downs. There are many variables that exist in real estate but the one that controls everything on who is easier to work with is the market condition. When you are working on your business you really should focus on having a strong business on both sides while shifting the focus to the stronger side when you have opportunities.
A seller’s market is a great time to be a list agent because the demand to buy the home is there. You do need to keep the seller in line with proper pricing, but a well-priced home is going to move in this market. Also keep in mind you want to front load your marketing since it will only be out there for pre-marketing and a short window while the home is live. This means when you have sellers in the seller’s market you want to make the most noise possible and do the best job possible to attract other sellers. Far too often real estate pros forget who they really need to market to and in a seller’s market they take advantage of the ability to do less and still sell the home quickly.
During a buyer’s market it is a tough time to be a seller’s agent unless they are letting you lead the way down on pricing to beat out the competition. The days can seem endless sitting at open houses with no guests and sending out marketing with no reply. That is why during these times often real estate pros focus on working with buyers. The biggest challenge during these times working with buyers is keeping them knowing even though prices are going down we still need to write a real offer to get it accepted. Do not get me wrong it is the time to get deals but some buyers are fixated the market is worse than it is and their money is big power. If you always maintain a good list of buyers you will always be closing. Learn to stack up as many buyers as you can throughout every season and soon enough you will find listings.
Diversification is a key thing to remember when growing a healthy real estate business. There are ups and downs about each side of the market. Always keep in mind that no matter whether up or down property is moving it is just about being in the right place to find business. This is an interesting year for all of us so hang in there and keep working hard. If you enjoyed this blog make sure to check out our Podcast and Facebook group “Real Facts on Real Estate” and also sign up for our newsletter. Please leave any questions or comments below.