It certainly is an interesting time as an agent in the current market, many jokes are being thrown around about real estate agents jobs and how they are getting paid.  A lot of associates are seeking a change in occupation and offices that have been open for over 20 years are closing down.  Only the very strong will survive this real estate climate.

I am an observer and I watch from a far, opportunity still exists and as an agent you really need to get out of your comfort zone to survive this market.  Most of the skills that you have learnt and successfully used in the past will not work today.  The Real Estate arena has changed forever and you really need to adapt to stay a float.

There are areas in property that are still moving very well, if you stop and analyze just for a moment and read what buyers are doing and what makes them tick and eventually sign on the dotted line you will find that they are more savvy than they ever have been before.  The same principles apply with “location location location” however, now it is more about price.  Price is the number one key in this market, bargains are what buyers are seeking, they put in low offers, sometimes so low that you question wether to put them to the owner or not.

More than ever before we as agents need to show our ethics and professionalism, we need to provide accurate information to our vendors including telling them the truth about the value of their home.  If you get a low offer, Submit it! It is not your decision wether to accept or not, then in the negotiation work your hardest to get the highest price, and if you know that you have achieved the highest price the buyer will pay, then tell the vendor and make sure they understand the consequences of not taking the offer.  When all said and done it is their decision and if you have been real and told them everything then they have made an informed decision.  Pre conditioning and honesty is very important to ensure a successful outcome for all parties and will also ensure you get paid.

Comparative Market Analysis and valuations of properties are also very important in this market, I only take on listings that are either priced to sell, are motivated vendors or blue chip properties that will achieve a good price no matter what the market conditions.   If you use that as your guide and look at the percentage of buyers associated with those categories, then the listings you would seek would be the motivated vendors, the sellers who have to sell no matter what.