BrokerageIndustry News

Buyer’s market difficult for real estate agents

Part 1: Prospering in up, down markets

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Are you experiencing a superheated market with virtually no inventory? Are you in a stable market where inventory and demand are balanced? Or are you in a buyer's market where buyers are as rare as hen's teeth? You can prosper in either type of market provided you have the right strategy. When I'm not on the road speaking, I generally split my time between Austin and Los Angeles. Other than the price points (a $400,000 home in Austin would be $1.5 million to $2 million in Brentwood or Santa Monica), the most striking difference is the market. Austin is experiencing a buyer's market in most places. In contrast, almost all of California is in a superheated seller's market. Of the three types of markets (buyers', sellers' and flat) the most difficult market to prosper in is a buyers' market. Since more than 90 percent of all top-producing agents focus on obtaining listings, buyers' markets pose a potentially serious challenge to agents, brokers and sellers alike. Making matters worse, ...