AgentMarkets & Economy

Seller’s market, buyer’s market: Why Realtors should never get too comfortable

  • As the housing market shifts, so too must real estate agents' navigation strategies.

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

A decade ago, selling a house came with a special set of challenges. The inventory of homes on the market kept growing and prices went down. We were in a strong buyer’s market and had to think of creative ways to get home hunters to even look at our listings. Prior to that -- and before the housing market crash -- we were in a seller’s market that we thought would never end. Interest rates were significantly higher than they are now, but people kept buying and prices kept rising. The sign would go up while the fax machine started printing out offers. Fast forward to 2017, and we again find ourselves in a strong seller’s market. It seems like every month we hit a new record for the fewest number of homes for sale, and when a home does come on the market, it already has an offer on it. Managing client expectations -- and heartbreak I've had clients who were planning on buying this year decide to sell and then rent because they felt as though they didn't have enough...