Publisher’s Desk: Active Leadership for Uncertain Times

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Let’s face it. It’s time for brokers to roll up their sleeves.

Tough market conditions mean that brokers and managers can no longer have the luxury of playing the corner-office, lead-from-afar role. Brokers in today’s market need to dive into the details of their business operations, work side-by-side with their agents, and climb into the trenches with consumers.

Take a detail like listing price. Where there used to be room for creative license, these days, pinpointing the correct listing price is one of the most critical strategies for staying profitable. In Gene Meyer’s cover story this month, he talks to brokers across the country about the nitty-gritty of pricing, revealing their tactics for working with both agents and consumers to get that house sold.

As Rei Mesa, president and CEO of Prudential Florida WCI explains, we are in the midst of a paradigm shift-a shift toward “priced to sell.”

“In this paradigm shift, you look at what’s on the market and work your way down from there,” says Mesa. “If you’re looking at inventory sold a few months ago, that pricing is probably not in line with what consumers are looking at now. To market the property today, you have to…aggressively price below the lowest asking price.”

It might not be pretty, but it’s the truth…and it’s far from outlandish. Although it might seem dismal to agents and consumers looking for a better pay-out, that’s only because this priced-to-sell approach is juxtaposed so closely to the quick-flip phenomenon that allowed many a taste of get-rich-quick. To get past the shock, brokers, agents and consumers need to embrace a paradigm shift in the way they think about real estate as well.

Until we start enjoying a smoother cycle, make sure you’re the actively-involved broker your managers, agents and clients need. Your knowledge, experience and support are essential to the real estate success of all.

Wishing you continued success…