Fairway Mortgage

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ninop@fairwaymc.com

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Distressed sales are dropping and Normal sales are on the rise. On line estimates fluctuate wildly from month to month when our market is quite stable.

Nino explains how to educate your clients by arming yourself with useful stats.

Nino explains how to educate your clients by arming yourself with useful stats.

Did you see the article of the recent housing Stats from ARMLS by Tom Ruff ofThe Information Market?

Two Things jumped out. Distress sales are dropping and Normal sales are on the rise. (see chart below)

 

August   2013 August   2014
Bank sales 631 427
Short sales 729 233
Normal sales 5,695 (80.7% of total sales) 5,768 (89.7% of total sales)
Total   sales 7,055 6,428

 

Also what jumped out at me is where the consumer is getting their information.  Most Buyers and Sellers are looking to on-line national real estate resources to not only find what homes are for sale but also to find what that home is worth.  That’s a problem, especially in our market where you can literally cross the road and be in a differently priced market. As a real Estate professional, you know that there are discrepancies with these on-line estimates.  On-line estimates will fluctuate wildly from month to month when in fact our market is pretty stable. Misinforming the consumer, giving them a false perception of the market is one of the things stalling this market.  Prices don’t change 10-20% in 30 days.  Don’t you think this causes confusion and uncertainty.  Uncertainty causes indecision and that is what we are experiencing today.

 

This is where your professionalism must separate you from the online competition. Armed with the right information you can send accurate information to you clients, educate them about the market trends in their neighborhood and encourage them to spread the word.

 

How are you getting your information out?

Are you emailing?

Are you having conversations?

How are you educating your clients, the general consumer?  Are you?

As a Real Estate professional, you have the resources, tools and accurate information.  Real Estate Professional is about educating, consulting  and informing the consumer so they can make an educated decision.