When the Market Slows, the Best Agents Shine

Over the past few months, I’ve been on the road meeting and talking with RE/MAX brokers and managers during a series of fall retreats across the country.

I always enjoy connecting personally with our business leaders, exchanging ideas and discussing the opportunities and challenges of their individual markets.

Of course, the big topic on everyone’s mind today is the slowing housing market. An industry that’s been heavily favoring sellers for the past several years is now shifting gears.

At its essence, this slowdown represents a rebalancing of the market—and is the result of normal market forces. It’s a return to equilibrium following a years-long run of constantly rising prices.

For many in the industry, a tapering market might cause concern. However, in discussing the situation with RE/MAX brokers and agents, the consensus is clear: The best agents love this type of market.

When markets tighten, the best agents shine. They see opportunity where others see obstacles. They know that when things get complicated, buyers and sellers need an expert to cut through the noise and advocate on their behalf.

Keep Calm and Sell On
Macro-industry trends are one thing; the reality of your local area is quite another. Even in slower times, buyers are looking to buy, and sellers are looking to sell in markets across the country.

However, for these same buyers and sellers, the current situation does leave less room for error. Now is not the time to wing it. It’s time to call in the pros.

The skill, know-how and expertise of a professional agent is critical in this environment. Even in the most straightforward transactions, an agent must coordinate countless variables for a successful outcome. In today’s market, the variables are even more variable.

Added to this is the one factor that influences nearly every home sale and purchase (and that no technology can address): the human factor.

Like no other transaction, home-buying and -selling is charged with different emotions, personalities and motivation levels. Beyond contracts, showings, negotiations and meetings, a qualified real estate agent has seen it all when it comes to the people factor.

Being skilled in relationships and working with people is particularly valuable in a slower market, when the stakes and intensity are raised for everyone.

The best agents not only guide buyers and sellers through the mechanics of a transaction, but also through the emotions. They can advise on when to step back, when to step in or when to step out altogether.

Yes, today’s market is rebalancing and, as part of this process, you can expect ebbs and flows and ups and downs. It’s a situation that calls for expertise, knowledge and a steady hand that the best real estate agents provide.

Key Takeaways

The current slowdown in real estate represents a rebalancing of the market—and is the result of normal market forces.
When markets tighten, the best agents shine. Where others see obstacles, they see opportunity.
A tight market can lead to higher emotions among buyers and sellers—and a higher likelihood of issues arising.
The best agents not only guide buyers and sellers through the mechanics, but also the emotions of a complicated transaction.

Adam Contos is CEO of RE/MAX, LLC. For more information, please visit www.remax.com.