Friday, September 5, 2014

Stagnant but mature?

In my last blog, I wrote about our flat, stagnant, but good market.  This is an extension of that blog.

Part of why this market feels good, is that we, as real estate agents have matured into how we work in such an active real estate arena.  We better prepare our buyer and seller clients for what to expect in this type of market. We know better how to handle multiple offers on a listing and understand why sometimes it can be hard. yes, hard, for a seller to receive  seven offers, above list price within 3 days of their house going on the market.

We counsel our buyer clients from the start on participating in a multiple offer situation, and are no longer incredulous, when a listing agent doesn't get our offer in front of the seller right away.

When our active market first hit back in the 2003 - 2006, the industry wasn't particularly well versed in handling the increased speed and intense emotions of a busy and appreciating market.  We often fed the pressure cooker of emotion and stress, rather than diffusing the situation and helping our clients focus on the matters at hand.

Today, we aren't surprised by multiple offers on a listing, but nor do we expect, or feel we deserve them.  As a listing agent receiving multiple offers on a listing, we have procedures and standards in place for communicating equally and fairly with all parties, methods for helping a seller consider multiple offers, and the experience to help our seller clients set expectations for the eventual closing of the transaction.

So stagnant and flat also speaks to the calm, mature approach today's real estate agents have toward such a busy market.

As we enter the fall, I expect a flurry of activity until Thanksgiving as both buyers and sellers make an effort to wrap up their real estate activity before the holidays or end of the tax year.  We're seeing a slight increase in new listings on the market as we all get re-engaged from the summer.  Give me a call, text or email if you have questions.  503-312-8038