BrokerageIndustry News

Maximizing earnings in a down market

Should agents focus on buyers or sellers?

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The real estate market is cyclical. In a seller's market, listings are king. In a buyer's market, it would seem that buyers should be king. Consequently, when listings take forever to sell, should you shift your focus from obtaining listings to working with buyers? In the last bad market I experienced in the early 1990s, a standing joke was, "What do you need to do to get a listing? Stretch out in the middle of the street and play dead." The great news about today's market is that although prices are down in 15 states, they are holding steady or increasing in the other 35. The real question is not whether you should focus on obtaining listings or working more with buyers. Instead, the issue is how to maximize your earnings by capitalizing on market shifts. A key strategy that works in any market is "leverage." This involves having others do the work for you rather than doing all the work yourself. Here are three reasons that working with buyers provides little opportunity...