OpinionIndustry News

Get ready for ‘balanced’ real estate market

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Don't panic. The housing markets' shift into a period of greater calm and balance between the supply and demand of for-sale houses shouldn't be cause for alarm among real estate practitioners; yet neither longtime pros nor newbies should ignore the realities of today's market conditions. Here are 10 suggestions for strategic reassessment and mindful business planning that can help any business turn with the market: 1. Identify objectives and set goals. The maxim "fail to plan or plan to fail" might seem like a trite or trivial sound-bite from an inane business-advice book, but like many such sayings, it contains a nugget of truth and shouldn't be dismissed out of hand. The failure to identify broad objectives and set specific measurable goals can put even a seemingly successful business on a path to nowhere. Don't wait for Jan. 1, 2006, to get ready for new market realities. 2. Analyze the market. Listings may be a winning strategy in a seller's market, but balanced markets can open t...