While this message is written directly for my real estate friends, anybody reading my blog can probably benefit from the same approach: Whenever in doubt, make a list of as many positive perspectives as you can about your current situation. Then keep it handy, whenever worry rears its ugly head. That’s what I tried to do, which led to this message:
Note to my Realtor friends: No Worry for You
During a recent coaching call, a hesitant and worried client was too focused on what they couldn’t do rather than what they could, in the current marketplace. So I called up an electronic whiteboard and wrote out ten reasons why dedicated, motivated and educated professionals shouldn’t be worried about helping clients reach their goals in today’s market. They are:
If we sell 5 million homes this year - the historical norm - that’s 13,698 a day. Most agents only need 25-40 a year to succeed. Seems like plenty to go around.
Check your MLS data to see that you’re competing with less than 20% of agents for listings; mostly everyone else is running around exhausted with buyers. Easy peasy to capture market share.
The vast majority of “competition” in the industry sold zero to 1 houses during the last two years. During the greatest market in a century. Check your MLS stats and exhale.
More than 90% of sellers used a broker last year rather than sell on their own - when supposedly “anybody” could sell a home. No FSBO or iBuyer disruption to find.
Mortgage rates are floating around historical norms of 5-6% - also the same norm for annual price appreciation. So new owners will be financially even for a year or two, but living in a home they’ve dreamed about.
Even if home prices remain flat this year, they already appreciated a decade’s worth over the past couple of years. That growth is baked into the current equity/price of the home already. Oh, and the commission, too.
Nine out of ten sellers only interviewed one agent before signing a listing agreement. Period. End of story. Just call your sphere and make an appointment.
Available homes for sale remains lower than 10 of the last 12 years. Market collapses will be few and far between.
Even if “days on market” tripled, it would still take only 72 days to sell a home, less than half the historical trend. And a normal, human pace for everyone.
The average homeowner has more than $300,000 in home equity right now; Stop waiting for short sales because they will be few. Just go get a listing now.
Oh, and here’s a BONUS item:
During the minute it took you to read this post, 9.51 homes sold. Every minute, of every day. Someone is doing it. Including you!
So, what’s to worry about? The market is working. The consumer is consuming. The money is moving. The competition is dwindling. There’s nothing happening that a productive colleague, a manager, trainers and coaches haven’t seen before. So even if you haven’t navigated a normal market before, you know someone who has.
Go ask them how.
Then get to it.
No need to fear.
You’re going to have a great Year!
#alwaysinspiring