In this season of spooky stories, ghosts, and ghouls, sometimes our fears can seem more real than imaginary. But when it comes to matters of real estate, there are a few myths that need to be laid to rest.
Our first busted myth comes from our friends at Lamacchia Realty and their latest list of debunked myths.
Just like any other professional, real estate pros may play by the same rules, but strategies, approach, and skills vary from agent to agent. You can differentiate yourself by leaning into your unique skills and background, like handling multiple offers, knowing the ins-and-outs of a short sale, or being the expert on historic restorations.
Another note is to make sure your clients understand if you are a licensed REALTOR® with a code of ethics and fiduciary duties to a represented client, or if you are a “transaction broker” merely assisting in a sale.
While the average days-on-market (DOM) for residential listings has decreased year by year, it still pays to invest in marketing your listing. Think beyond this one transaction; by providing excellent service for your client, they are more likely to refer your services to their friends, family, and colleagues. A faster market is never an excuse to slack on doing your due diligence.
Similar to the previous myth, it can be easy to assume that an inventory shortage makes buyers more lenient when evaluating properties; however, buying a home is a significant financial decision, and first impressions truly matter. While staging, minor improvements, or a pre-listing inspection may not reduce time on the market, it can influence offers and the final sale price. Always give your selling client the best chances of earning top dollar for their home.
A decline in inventory over the last few years has plagued real estate professionals with misinformation that the market is an uncontrollable, unpredictable tide. However, in other business industries, economic strategists remind us that creating demand is well within our control.
Believe it or not, the power to change the market is in the hands of real estate agents. MoxiWorks has been studying trends and correlations between real estate agent activity and home sales across the U.S. With a narrow margin of error, we can predict market growth or dips two months out just by looking at activity in our product MoxiPresent.
Agents who create presentations to talk to their sphere before the buyer or seller has committed to the process can encourage business that may have been waiting in limbo. Here are just a few scenarios that have recently come from MoxiPresent users.
In both scenarios, the agent didn’t wait for a lead to come in; for a citizen to state they were ready to buy or sell. Instead, the agent offered advice, information, and resources to encourage their sphere to consider their options.
What are some common myths that you’ve debunked for clients or colleagues? Send us an email at [email protected] or share your stories here.
Author: June Laves
Sr. Marketing Manager, MoxiWorks