The First Question
“How’s the real estate market?” is one of the most common first questions people ask a Realtor®. There are generally two ways to answer that question.
The first way is to say that the market is AMAZING! It’s a truthful statement from the Realtor’s perspective. Honestly, it doesn’t matter if the market is going up, or down, or is stable. The market is right for someone, no matter which market we are in.
The second way to answer that question is to say “It depends.” The reason why this answer is great is because in any given market, the conditions affect different people in varying ways. For example, currently we are still in a seller’s market. So, depending on whether you are a buyer or a seller will matter how the question is answered. This answer might be better than the first because it opens up a conversation with the other person. Stating that the market is amazing gives an answer but doesn’t necessarily encourage the other person to think about it and ask additional questions. By saying that “it depends,” the other person has to take a moment and think about it. They might then come back and ask additional questions to get clarification.
If you ask me how the market is, I will more than likely tell you that it depends. This also gives me a chance to have a deeper conversation and help educate the person about the specific things going on in the market – today!
The Heart Of A Teacher
At my core, I am a teacher. As an employee of a Fortune 500 company, I spent years teaching new skills to other employees so they could be successful in their careers. As an instructor at a Junior College, I spent three years teaching new skills to people. These skills helped them find employment once they had completed their degree programs. As a Realtor®, I help educate people on the market for real estate but also focus a lot of effort teaching them about the process of buying or selling a home.
Why? Well, it’s because people don’t buy or sell a home every week. The average person lives in their home for seven years before considering selling that home and purchasing a new home. There is little chance that these people are keeping up with all the latest legal issues with buying or selling a home.
I am able to help educate them in the process, help them identify the things they are looking for and offer opinions and options for them to consider.
As a teacher, my primary role with students was to teach the fundamentals of the tools they needed to perform tasks and then allow them to experiment to come up with a solution that worked for them.
In a similar way, my role as a Realtor® is to offer the tools needed for my clients to make the best decision for themselves. My opinion might matter or it may not. Making sure my clients are educated ensures that they are able to perform the due diligence necessary to make the best decision for themselves about purchasing or selling a property.
It’s important that the teacher knows more than the student but they don’t have to know everything. If you don’t know an answer, tell them that and get back to them after researching.
The same thing applies to Realtor’s. An advantage that teachers and Realtors have is they are surrounded by resources to help them find the most relevant information for the students and clients. As a Realtor, I have a whole team of mentors, lenders, managers, a legal team, title companies, inspectors, plumbers, electricians, and others available to get information and share with others.
The market condition depends on the individual. Just because it is a seller’s market doesn’t mean that someone buying cannot get a good deal. Ultimately, a house will only sell for what someone is willing to pay for it. The good news is that historically, for any given twenty year period, real estate values tend to go up. The downturn in 2008 had many factors involved that made the market dangerous. Now, not even a decade later, the market has recovered and is growing again.
Realtors have a huge team of resources at their disposal to help find answers to any question you might have. They also have the knowledge to help you set the correct price for your property to sell or find the property that meets your needs.