- There's no such thing as a national housing market. Even during the recession, there were strong sub-markets within the worst markets.
- Being an expert on the intricacies of your local market will help you identify which leads are hot and how to get the best outcomes for your clients.
- BPOs are an early warning sign that something is up in your market.
With rumors of a new market meltdown coming, do you know how to thrive no matter what? If you want to weather any storm, you must know how to read the conditions.
Whether you’re in a buyer’s, seller’s or balanced market, learn the basic rules for identifying the signs in your area.
When you can accurately read your market, you’ll have the power to advise your buyers and sellers in a way that steers them toward the best outcome, set expectations for negotiations and correctly price your listings.
So it’s time for strategic action. With virtually every market in the country showing increased broker price opinion (BPO) activity, if you’ve never learned how to do a BPO, the time is now.
This skill will set you up for being an expert — a superstar in your clients’ eyes — and will give you additional income if your market is hit hard.
Next, you need to know the absorption rate, which we’ll cover in today’s podcast, and the list-to-sell price ratio. If you’re used to be it being 110 percent, then you’re not prepared for the changing market.
Being an authentic leader in uncertain times requires courage. Whatever is coming, become the solution to your clients’ confusion, and you’ll win every time.
Subscribe to Tim and Julie Harris’ podcast on iTunes or follow us online at realestatecoachingradio.com.
Tim and Julie Harris have over 20 years’ experience in real estate. Learn more about their real estate coaching and training programs at timandjulieharris.com, or request more information about their programs at joinharris.com.