Industry News

How to handle ‘year of the buyer’

Part 3: Housing market flattening, but no crash
Published on Mar 8, 2006

Editor's note: Experts have predicted that the torrid pace of home sales and double-digit price growth would slow this year, and some segments are already experiencing this. In this three-part report we take the housing market's latest pulse to get a feel for what's happening across the country and what real estate executives advise brokers and agents can do to stay on top. (See Part 1 and Part 2.) In what some have described as "the year of the buyer," as the real estate market continues to slow, real estate brokerages and agents are changing tactics to meet the challenge. "I adjusted my marketing plan. I look my sellers in the eye and say, 'Guess what. The "real" is back in real estate,'" said Vince Malta, president of the California Association of Realtors. Getting tough with sellers and insisting on realistic, lower prices is only one part of the puzzle, according to Gib Souza, president of the Bay East Association of Realtors in the San Francisco Bay Area. "For someone to su...

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