BrokerageIndustry News

Real estate agents prosper during buyer’s market

Key is helping clients save money

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

Warning! Market changes are hazardous to your pocketbook. Are you prepared to cope with an entirely different way of conducting business? It doesn't take a rocket scientist to see what is coming in the near future for many red-hot seller's markets. The San Francisco market has seen a 36 percent increase in inventory in just two months. All over the country, days on market have jumped dramatically. Experts predict a steady increase in interest rates in 2006. With each increase, the number of people who can afford to buy in a given price range decreases. Foreclosures are up on both coasts. With few exceptions, multiple offers have virtually disappeared. All of these signs point to the shift from a red-hot seller's market to a potentially devastating buyer's market. What can you do to cope? 1. Get the word out If the amount of inventory in your area is increasing, the law of supply and demand tells us that prices will soon drop. Contact your sphere of influence and your referral database...