It's already November, which means we're heading into Thanksgiving and our Winter Season. In Realtor terms, this is when inventory begins to dry up, and properties that haven't gone pending are likely to come off the market and reemerge next Spring, with hopefully, better results. Of course, no one has a crystal ball, and things could be decidedly different in 2025 depending on the outcome of the presidential election, the interest rates, supply & demand, and consumer confidence, but for now, the 4th quarter has been surprisingly brisk, and we hope next year brings much of the same . . . . Consumer confidence seems to carry a great deal of weight in my experience. Regardless of the interest rates, if Buyers are worried about their properties losing, rather than gaining value, they're unlikely to put their hard-earned cash down on a house. The simple fact is we won't know the health of next year's market until it arrives . . . .
Moreover, with new rules in place around the bifurcation of commissions, not to mention the insertion of Buyer Representation Agreements that must be signed BEFORE Buyers can step over a threshold, there's been some significant shifting of the sands with respect to how Agents now practice their craft, AND how both Sellers and Buyers have responded to the changes. So we're adapting . . . (the jury is still out.) This includes the understanding that prices have softened in many marketplaces, interest rates that were supposed to come down actually went up, insurance rates tripled or quadrupled in some areas, and there are far fewer offers being submitted come the offer date, which is beginning to feel like a Buyers' Market. As such, pricing correctly is more critical than ever. Get that wrong, and your home will be twisting in the wind. Remember, your property is worth what a willing and qualified Buyer will pay you for it - and not a penny more. But on the good news front, the Agents of COMPASS outperformed all other brokerages, according to Robert Refkin, our intrepid CEO and founder (and a remarkable human being beyond that). At the risk of tooting our own horns, here's what the numbers had to say:
Which is to say, we rock (thus, the photo). Finally, COMPASS will also announce a new Client Dashboard in 2025 that will allow Buyers and Sellers to track their journey from beginning to end with more agency, input, and inside knowledge. (Transparency is a good thing.) So if you're serious about Buying or Selling in the coming months, you'll want to align with a company that's beating the odds on all fronts, and continues to grow and improve the industry overall. To quote Martha Stewart, "That's a good thing." How can we help you?
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AuthorJulie Gardner, has been writing The Perspective for 18 years and has published more than 775 humorous but always informative, essays on life and real estate. Categories
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