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Real Estate Rockstars Podcast

SOTM 90: Rising Interest Rates and the Buyer-Seller Disconnect – Andrew Perrie

Real Estate Rockstars Podcast

Aaron Amuchastegui

Investing, Careers, Business

4.6864 Ratings

🗓️ 15 December 2022

⏱️ 50 minutes

🧾️ Download transcript

Summary

Mortgage rates are more than double what they were this time last year. Homes are sitting on market longer and longer, and there’s a major disconnect between buyers and sellers. In Andrew Perrie’s market, the average offer coming in now is $200,000 below asking price. On today’s State of the Market podcast, we give our predictions on rate reductions, share strategies for getting deals done right now, and offer encouragement to agents who are struggling with slowing sales.

Transcript

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0:00.0

There wasn't any time for, let's call it a cooling off period, let's call it a

0:07.4

cooling off period, let's call it a time for the rates or the market to become you know a little bit more adjustable in the

0:16.4

buyers and sellers minds where we've got this kind of you know drastic 180 flip within such a short period of time that buyers and

0:26.7

because mark and because rates are still going up and up and up is that the

0:30.4

buyers still haven't wrapped their head around where is this market going.

0:34.5

So that's why you're seeing these offers come in a hundred to 200.

0:39.4

Our average offer is about coming in $200,000 under asking.

0:44.0

So the question is this, how do most agents find the secrets to succeed in today's competitive real estate market, especially when the top agents are keeping those secrets themselves?

1:00.0

That's the question, and this podcast will give you the answer.

1:03.3

Hi, I'm Erin and Moochastake and welcome to real estate rock stars. This is Aaron and Mooche Stagi. I think today's probably going to be kind of a state of the market, kind of a follow-up.

1:25.9

I interviewed Andrew Perry out of Canada last February.

1:29.6

I was just looking at that.

1:30.4

I can't realize it was actually that long ago but I got to interview

1:34.3

Andrew on the podcast he had a lot of big things going on in real estate since

1:38.1

then we follow along with each other on social media and chat now and then and I

1:42.0

thought it'd be fun to get him on here

1:43.4

and get a perspective of what's going on in real estate. Andrew how's it going?

1:48.0

Great man, yeah, wow, you know when we had chatted about popping on uh... you know quick conversation i had uh...

1:55.6

i was trying to think of what we last spoke

1:58.3

and so not only was that

2:01.0

uh... you know back in back in February of this year, but that feels like five markets ago as well, right?

2:08.8

So, yeah.

...

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