How to KNOW what's happening in your market (Part 2)

Real Estate Training & Coaching School

Business, Careers

4.7 • 669 Ratings

🗓️ 28 November 2018

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

How to KNOW what is happening next in your real estate market: Why does it matter? Pricing is affected! Seller and buyer expectations shift. Price reduction scripts become necessary. Spokes of your lead generation wheel may shift. Commissions are effected; changing markets mean prospects need you more! Because prospects need you more, you'll be competing more often for the best business (most motivated). Schedule A Free Coaching CallVisit Tim & Julie Harris OnlineListen on iTunesListen on Stitcher

Transcript

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0:00.0	Welcome to Real Estate Coaching Radio, starring award-winning real estate coaches and number one international bestselling authors, Tim and Julie Harris.
0:22.1	Real estate coaching radio is the nation's number one daily radio show for realtors who demand
0:27.6	authentic real-time coaching. Get ready for fluff-free, unfiltered, full-strength honesty
0:33.5	about what's truly working to get you into action, helping others, and making money now
0:38.3	in today's real estate market. Now to our hosts, Tim and Julie Harris.
0:47.0	Is your market changing? That is the question that you need to be asking yourself. And the answer,
0:52.4	by the way, if you don't want to take the time, is yes, of course, it's changing.
0:55.1	It's always changing.
0:56.4	But the real question is, are we starting to enter into a buyer's market?
1:00.4	Yesterday on the podcast, we gave you some real drilled-down ways of going about figuring that out for yourself.
1:06.0	Everyone's market's different. different and even in your market there is no one market so you really have to you know again drill down to understand the nuances of what's happening but the
1:13.9	bottom line is is there's no question and no one should be in doubt that we're
1:18.5	entering into a we are in a changing market which means that it's going to
1:22.3	eventually become a buyer's market and then it'll basically become a balanced
1:26.4	market it's not going to just go from a seller's market to'll basically become a balanced market. It's not going to just go from a
1:28.3	seller's market to a balanced market, a balanced market where there's like, you know, three or four
1:32.7	months of supply of homes for sale, you know, where the process is relatively predictable, the
1:37.9	timeframes are predictable. When you see a transitioning market like this, what always happens
1:43.1	is it's going to overcorrect.
1:45.5	It's going to overcorrect on the buyer side, just like on this side, on this time around,
1:50.9	it's overcorrected on the seller side. That's the reason we've had such extreme rent-ups
1:55.2	and prices of homes. So we're headed in the other direction now. It's like the pendulum swinging,
	...

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