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Clairesmom, Both Buyer and Seller in Chicago Heights, IL

What are the 3 hardest elements about working as a Realtor or Broker in todays market?

Asked by Clairesmom, Chicago Heights, IL Fri Feb 15, 2013

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4
JANET SHER’s answer
#1 - HOUSE VALUES HAVE DROPPED - TRYING TO LIST AT A PRICE WHICH IS FAIR IS DIFFICULT AS DOING A MARKET ANALYSIS SHOWS PRICES HAVE DROPPED DUE TO FORECLOSURES AND SHORT SALES. NOT A TRUE VALUE!

#2 THERE ARE TOO MANY DISCOUNT REAL ESTATE COMPANIES WHO ARE NOT FULL SERVICE AND IT HAS BEEN A MAJOR OBSTACLE FOR MOST AGENTS WHEN TRYING TO OBTAIN A LISTING FROM A SELLER.

#3 THE INVENTORY IS LOW AND THE QUALIFIED BUYERS WHO ARE READY TO BUY FEEL THE HOMES ON THE MARKET ARE NOT AS PLENTIFUL FOR THEM TO SELECT FROM. THEREFORE, THE BUYERS WANT TO WAIT IT OUT, DESPITE MY TELLING THEM TO TAKE ADVANTAGE OF THE LOW INTEREST RATES. WHEN THE HOUSE VALUES WILL INCREASE, SO MAY THE INTEREST RATES AND SO SHALL THE PRICES !!!!
1 vote Thank Flag Link Sat Feb 16, 2013
BEST ANSWER
Hi,

They are the same no matter the time frame or what market conditions are like:

1. Treating your business as a business;
2. Getting buyers and sellers to be reasonable and listen to what the market is telling them; and
3. Having clients and customers treat you with loyalty and respect.

Michael Richman
Licensed Real Estate Associate Broker
KIAN Realty
450 7th Avenue Suite 1501
New York, NY 10123
212-757-8268 x220
917-991-2528
mrichman@kianrealtynyc.com
http://www.kianrealtynyc.com
0 votes Thank Flag Link Mon Feb 18, 2013
1- The internet has buyers and sellers confused about agency and a provides misinformation that internet users feel that if they saw it on the internet it is true. I think this is where the disloyalty comes into play.

2- Lack of inventory

3- Dealing with bank involved inventory through short sales or REO.

Other then that there is lots to be grateful for in the market today.
0 votes Thank Flag Link Sun Jul 21, 2013
- getting customers sign at the first meeting a NYS statutory disclosure document explaining the agency relations because they do not know you yet and do not want to sign anything;

- converting leads into clients;

- maintaining long term relations with the clients and leads.
0 votes Thank Flag Link Fri Feb 15, 2013
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