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Agent Tips for Navigating Today's Market

Written by on Tuesday, 26 April 2011 7:00 pm

Navigating today's uneven and unpredictable market is a difficult task for today's real estate agent. Will prices remain steady in the coming months? Will your buyer be able to find adequate financing? These questions can be tough to answer.

Your clients rely on your expertise to help them make smart moves. How can you be the best facilitator?

First, stay informed on the latest programs and legislation. While many market trends are localized, national trends affect the country as a whole. Numerous housing bills find their way through Congress each year. Keep updated on what new laws could affect your clients. Additionally, review the latest interest rate news to help your buyers make their way to a healthy mortgage.

Keep current on your education. There are numerous designations that can give you a competitive advantage. According to the National Association of REALTORS®, "REALTORS® who pursue professional designations have a distinct competitive edge as a result of their increased expertise and marketability. Based on 2010 survey data, the median income of REALTORS® without a designation was $29,700 and the median income of those with at least one designation was $51,500 -- a difference of $21,800."

It's not all about income, however. When you have a solid and current knowledge base, you'll be better prepared to help your clients in today's tough market.

Next, reassure buyers with real stats. This means you need to know the numbers for your neighborhoods, past and present. It would be great if you took time each week to acquaint yourself with the latest trends (median pricing, pricing up or down, days on market, etc.).

Have a pulse on the local economy and job market. This is especially important if you have buyers relocating from out of the area. What industries are booming? Are there new businesses opening up or hiring? Additionally, sellers will need to know what sort of buyer pool is available to them at the moment.

Lastly, experiment with new forms of marketing. A willingness to try new things is an important quality as a real estate agent. Thinking outside the box can help your homeowners sell their homes, as well as attract new clients. Webcasts, updated websites, video tours, professional staging, and professional photography are just a few of the latest ways to stay relevant.

It's a ever-changing market out there. Arm yourself with up-to-date knowledge and you'll be better prepared to help your clients navigate their way to a new home.

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