So I was having a conversation the other day. A friend of mine asked how the Real Estate business was doing. In a word - it is doing great! I went on to explain that in most local markets (with pretty much all of North Oakland County and the surrounding areas being one of those 'local' markets) in Michigan, the tide has turned in Real Estate. The market went from being heavily in favor of buyers to a sellers market in the last 12-18 months. The response I received: "Well of course you are telling me that, you sell real estate."
Okay, I confess, I do sell Real Estate. In fact in the last year I sold more of it than any year in the last five. Now, I would like to say that I am just that good, that I crafted gold out of lead and sold the unsellable. I would like to say that sellers are defenseless against my negotiating prowess and my marketing is so powerful that buyers enter a trance-like state, gobbling up homes like zombies on a quest for food. I would love to say those things (some agents actually do! - I am also glad they do and I explain why below.)
Now, that isn't to say that I am not good at what I do. I am. Very good in fact. What I do is educate my clients on every aspect of their transaction and the local market. In order for me to do that, I have to do my homework. Yes, the dreaded "H" word! It is no more fun than it was in third grade, but it is just as important (I even have to occasionally ground myself because I waited until Sunday night to do that project due on Monday morning.) One of the places I do a bit of business in Brandon Twp, MI. I can tell you almost anything about that market, including average prices, demand trends, inventory levels, average on-market time, yearly transaction numbers and trends, and, well, just about anything else you would want to know. I know this information because I study the market.
Here is a good snapshot of the current trends in the Brandon Twp real estate market. I know this information is accurate because I did my own homework. I researched the sales in the MLS and public records databases. I compared the numbers seasonally so the comparisons were apples to apples. I made the graphs using the data so I know not only what they mean, but where the information came from.
 |
| In thirty seconds my clients can absorb 4 years of data, thousands of transactions worth of information, so they know their decisions are based on solid numbers. |
Here is another snapshot of Inventory levels as a function of buyer demand. Knowing how many homes are for sale in your local area is of little value unless you understand how many buyers are looking in your area. It is also quite helpful to understand what they are buying and how much they are spending.
 |
| By Q4 2012, sales were out pacing new listings for the first time in 4 years. This indicates a Seller Market and means buyers will be competing for your home. |
Real Estate is not alchemy, nor is it rocket science. If someone is giving you promises that sound too good to be true - like mom told you - they probably are. If you have questions that can't get answered, but you get offered 'industry jargon' and a keychain and a coffee mug instead, think twice. I said earlier I like it when people make crazy promises and absurd claims. I like it because the 'Kryptonite' to those 'super-claims' is an educated client. My clients get educated.
Buying and selling a home is an emotional experience, but the process and mechanics of the transaction are not. They are clearly defined, predictable based on past performance, and easily understood - IF - you do your homework. That is what I do. And I do it well. My clients deserve nothing less!
As always, please contact me with your Real Estate related questions at www.JasonGault.com. Happy Selling!
No comments:
Post a Comment