Key Points:

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Realtor.com data predicts a significant decrease in available properties per agent by 2024.

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By 2024, this diminishment in supply is projected to reach a low of only three properties per agent.

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Property sellers who are keen on closing a deal by April have already begun scouting for representation.

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This could intensify competition among real estate agents, affecting the dynamics of the real estate business model.

My Hot Take

Anyone ever play musical chairs when they were a kid? Well, the real estate market is starting to resemble that, except instead of fighting for a seat, you’re fighting for a listing. Realtor.com’s shocking revelation that there will be just three listings per agent by 2024 is a real wake-up call.

And can we talk about those eager beavers wanting to seal the deal by April? They’ve already started looking for representation, behaving like they’re booking a VIP table at the hottest club in town months in advance. This is shaping up to be more like the hunger games rather than a usual day at office.

This got me wondering if we’ll soon see agents armed with power lunches and snazzy presentations, ready to woo potential clients like suitors on a reality dating show. Now that’s a spin-off I’d pay to watch!

So folks, get ready to channel your inner reality TV contestant or strategic gamer, or maybe even both. Because, as the prophecy (ahem, data) tells us, it’s about to get real competitive out there in real estate land. And boy, aren’t we in for a wild ride!

Original article: https://www.inman.com/2024/01/24/competition-for-spring-listings-will-be-fierce-and-starts-now/