Top Prodcers meet to discuss the market

It is hard to believe it was the second Thursday of the month already…time and summer sure fly by fast!  Here is what the Top Producers in real estate had to say this month.  If you have questions you would like me to pose to them, please let me know.

Negative news is everywhere.  Some websites even post good news one day and negative news the next.  How do you handle it and when will it stop?  Tell people to look at time frame of ownership – long terms hold will have fluctuations no matter what the investment is – stocks, gold and housing.  Show stats of our area being number one in appreciation month over month.  We are seeing incremental price increases in lower prices.  The news is reporting what is true across the country, we are just jaded because our prices are stable, unemployment is low, and pay rates are low plus they can’t sell houses.  Use the bad news to get price reductions.  Talk about the “cost” of money today and how great rates are compared with other years.

The government will come to an agreement on the deficit so we don’t lose AAA status, rates will stay low and the dollar won’t devalue.  Both sides of the aisle on Capitol Hill will do the right thing and make it happen because if they don’t, we all lose.

Control your closings – select the title company to get information on the lender when agents fail to give you Form 100 – removing financing contingency.  The bottom line is too many agents are not familiar with the contract or the process.  Agents need to be educated and then educate their buyers.

Interest rates have increased recently, have you seen any effects on the market?  Everyone agrees that nothing has really slowed down.  The market remains stable.

Where is the market?  Contracts have slowed down in Loudoun and Prince William counties, agents are busy listing houses and trying to find where the prices should be on their listings and trying to find buyers.  Townhouses are selling well in Western Fairfax County – singles are lingering on the market.

Appraisals are problems for some not for all right.  Appraisers are still coming from outside the area to and are appraising properties low – herein lies the issue.  We need market specific appraisers every time.

What are you going to do the second half of the year?  Some agents are hiring coaches for the second half of the year, focusing on new home construction, and one is bringing in vendors to open houses to provide gift cards to agents who attend.  Others are calling their sphere more frequently and generating leads this way.

The discussions today were lively so it is better to attend if you qualify then just by reading the notes.  Get it?  Got it?  Good!

Now, go sell something!

 

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