Is your Minnesota Realtor Relevant in Todays Market?
As Realtors in Minnesota in 2011, we are facing challenges and a market environment that’s never existed until now. Along with this new climate comes new challenges we must overcome to have successful transactions and bring positive outcomes to our clients.
Homes need to be postitioned differently
Even a few short years ago the most important ways agents marketed homes were the mls, basic websites that essentially were online brochures, signs and open hows. Today’s market has thousands of websites competing for a smaller amount of buyer traffic. How you drive that traffic is whats important. Even more important is driving relevant buyer traffic that’s specific to your type of home.
Agents must adapt constantly
Pricing, volume of foreclosures and financing are changing weekly. Markets are fluctuating in some neighborhoods worse than the stock market. Understanding those trends and which homes will be coming into default will be vital in understanding where your home will be price wise.
Buyers expectations need to be shaped
Many buyers come into the market place expecting to get steep discounts on top of already huge adjustments. As we deal with Realtors in the Twin Cities market we notice frequently the battles they fight getting buyers to understand where the market is today. Its important that your agent is able to articulate what the current environment is and why they are buying at a good value. Failure to do this will generally result in an unsuccessful deal.
Information is more important than ever
Current information about interest rate forecasts and default forecasts are vital in determining what the right decision is for you at the current time. If conditions are continuing to slip downward it would be more important to be aggressive with pricing to stay ahead of the market.