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Located in South Florida - market is still hot here - no inventory but I've got a couple of agents complaining that they are slow all of a sudden.
Don't you have access to the actual numbers then?
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Located in South Florida - market is still hot here - no inventory but I've got a couple of agents complaining that they are slow all of a sudden.
Well in my area the number of agents is 2.5 times the number of agents during the recession with about the same number of transactions occurring. It might be the same way in your area. People hear hot market, get their license, and then sell nothing. I know some experienced agents whose transactions are down due to the insane number of agents out there competing for business.
Well in my area the number of agents is 2.5 times the number of agents during the recession with about the same number of transactions occurring. It might be the same way in your area. People hear hot market, get their license, and then sell nothing. I know some experienced agents whose transactions are down due to the insane number of agents out there competing for business.
And you can have 15 buyers you are working with but if very little is hitting the market than no sales or no listings. I usually keep 5-10 listings but not now. My Sellers are sitting tight. Can't move up, can't move down.
Very very few reporters are qualified to write about market dynamics, for sure.
I see astoundingly bad reporting routinely.
Real estate reporters are HORRIBLE. I still remember an article that ran on Boston.com during the great recession. The headline was something like "Foreclosures in Weston increase 50%!!!" What have to understand about Weston, MA is that it's one of the wealthiest towns in the entire country. The a lot of people that live in town have absolutely astounding amounts of money. David Ortiz lived there during most of his time in Boston. Bill Belichick lived there until he got divorced. The town is littered with CEOs of major corporations. Anyway, bottom line is the number of foreclosures in town went from 2 to 3 or something like that if you actually look at the numbers.
Quote:
Originally Posted by Bette
Located in South Florida - market is still hot here - no inventory but I've got a couple of agents complaining that they are slow all of a sudden.
There are a lot of agents out there as others have said and there's more people getting licensed every day. It's making it harder and harder every day to get clients. Also as already stated, if you're working mostly with buyers then you're dealing with a seriously extended timeline from client acquisition to getting to the closing table.
Quote:
Originally Posted by Bette
I'm just a mortgage broker; not a realtor.
I don't have membership in the MLS.
Still as a mortgage broker, a part of the transaction lifecycle you know what kind of traffic is flowing across your desk. I have to imagine you're regularly shmoozing both existing and potential new referral clients. So, even if you don't have access directly to data I can't imagine you're not getting it at least anecdotally or second hand. There will always be a few agents who claim "things are slow." Often, that has more to do with the agent than the market.
Had a friend have an offer accepted last week that was contingent on their sale (and the house apparently had no offers in 3 weeks - it may have been a tad overpriced but didn't seem too bad). Feel like that was unheard of a few months ago.
Had a friend have an offer accepted last week that was contingent on their sale (and the house apparently had no offers in 3 weeks - it may have been a tad overpriced but didn't seem too bad). Feel like that was unheard of a few months ago.
suburbs of Charlotte NC. ~$600k. Slightly on the higher end of the market but not crazy so and still different than what I had been seeing in the same market/price point recently.
suburbs of Charlotte NC. ~$600k. Slightly on the higher end of the market but not crazy so and still different than what I had been seeing in the same market/price point recently.
Was the house owned by Opendoor?
Here in the Triangle; that's a significant chunk of the very few homes that are sitting on the market....those owned by Opendoor.
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