What will it take?

An education. Talking to one of my clients last evening, discussing why his property has not yet sold, we discussed how I, despite having been in the business for almost five years (a grizzled veteran based on the number of new agents out there), have seen only the “boom” in the market. I have lived through the slower times, as both of my parents are Realtors, but have not experienced it first hand. During the last lull, the internet was not what it is today – what will the new market look like?

The farther backward you can look, the farther forward you are likely to see.
Winston Churchill (source)

Incentives are being offered that have not been seen before. Buyers’ agents commissions, incentives to pay buyers’ closing costs …

I now get several spams a week with incentives. This – from a national builder in the area (missing an apostrophe) –

New Options

From a local Realtor –

My sellers … are offering $3000 bonus to buyer’s agent.  They will also pay $2000 toward buyer’s closing cost (w/ acceptable offer.)

This home is the BEST QUALITY HOME IN THIS PRICE RANGE (this was also 24 pt. font for emphasis)

Another national builder, not in this area,

… is offering a 4% broker/agent referral fee for the first customer, 5% for the second customer and 6% for the third, fourth, fifth …

One local seller is offering with their house … “A brand new (almost) CAR!”

Is red really an inviting color with positive connotations?

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3 Comments

  1. TrvlnMn May 29, 2006 at 15:30

    Regarding the ‘market lull’. I’m waiting to see the big dip when those non-traditional (aka shady) mortgages finally blow up on the mortgage holders. I don’t know if it will have any impact locally but it will be interesting to see what (if anything) happens.

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