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Distressed Properties: Are Short Sales and REOs Still Driving Business?

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KP: We need to motivate agents to revisit the sellers who didn’t list a year or two ago. Go back to your database. The opportunity is there.

RM: The fact is, even if rates go up another 4 percent, they will still be at affordable lows. The same with prices. They’re moving up, but they are still significantly below the 2001 price points—and days-on-market in many regions has dropped by 15 percent or more.

MS: I don’t think it’s ever been more important to be in the here and now—to stay focused on your organization and how you can position yourself to win. You want to create more marketshare? Pointing agents toward the listing side is an excellent way to start.

JB: And remember, NAR has some excellent resources at REALTOR.org/Store for brokers and agents to help educate consumers, including consumer-focused brochures, such as “It’s a Great Time to Own,” “Getting It Sold” and “Why Rent When You Can Buy.”

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