Key Points:
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Escrows are Getting Harder to Land
– Buyers galore are passing through the market, but property-dealing agents are having a tougher time getting those deals into escrow, according to real estate expert, Carl Medford.
– The current market condition exposes a disconnect between buyers’ expectations and the reality of what they can afford.
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Sellers aren’t as Enthusiastic
– Sellers are quickly losing enthusiasm for the process as numerous deals die on their vine instead of flowering into delightful escrow fruit.
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High Service Levels Could be the Solution
– Medford urges agents to up their service game. Agents who provide the highest level of service possible could potentially sway the buyer-seller disconnection.
– Providing an exceptional service to buyers ensures they feel valued, listened to, and supported. For sellers, the goal is to confirm their properties are well-cared for and highly valued.
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Time for Creative Thinking
– It’s high time for agents to think outside the box. Creativity could ensure a smooth transition of properties from listed to sold.
– Innovative approaches to communication, marketing strategies, and negotiation could be the magic mojo that leads to more successful escrow conclusions.
Hot Take:
If you thought landing that dream date for prom was tough, try landing a deal into escrow these days – even the properties with the freshest paint jobs are being stood up. The real estate market is like a fast-paced game of musical chairs where buyers and sellers are desperately looking for a seat but keep missing the beat.
Yet, dear agents, this delightful pickle you find yourself in may be solved if you wear your service cap a little taller. Like a sommelier guiding patrons through a labyrinth of aged wines, navigate your buyers through their real estate desires while showing sellers they aren’t just another chateaubriand on the menu. Use this as an opportunity to show that in a market where matching buyers to properties is as orderly as herding cats, a high level of service can truly make the difference.
And yes, don the creative thinking cap too! Real estate has always demanded some wit and charm, but now more than ever, innovation could be your golden ticket to the escrow chocolate factory. So, would you rather be the Charlie Bucket of the real estate world with all the Escrows, or sludge through the markets like Veruca Salt? The choice is up to you!
Original article: https://www.inman.com/2024/01/31/13-ways-to-find-a-home-for-your-buyers-in-this-tight-market/
