The statistics just came out today for the latest Kenosha real estate sales statistics. The numbers show what while there has been a study decrease in the number of homes sold, there is a steady increase of new listings. This information demonstrates a couple of points that can probably be applied to any average midwestern community right now.
- #1 The absorption rate of homes on the market has decreased from 30% last year at this time, to only 18% this year. This means home are going to stay on the market longer, and sell for less than last year
- #2 The number of people who are able to sell their homes without the assistance of a Realtor® is decreasing rapidly
Home owners need the competent help of real estate agents more now than ever. The problem is knowing which agent to choose. First off, remember that 50% of the people in the real estate are in the bottom 50%. (There's nothing like stating the obvious) The real estate industry is ever evolving, agents used to be the "gate keepers" of listings and all things REAL ESTATE. With the evolution of the internet, many consumers, and self help real estate companies mistakenly began to believe that the need for competent help in the real estate profession was over. The truth is there has never been a bigger need. The operative word to pick from this paragraph though is competent. There is most certainly no longer a need for a real estate agent to tell you what is for sale, or to get the word out that you are selling your home. The mediocre agent who merely provided basic information and benefited by collecting a commission is definately over. What most people do need, is sound advice from someone that is ethical and knowledgable. Knowing how the price trends will affect your marketing efforts is important. Understanding how to effectively promote a property on the internet to multiple audiences is important. Ensuring a sales contract is accurate and that it properly advocates the needs and wishes of a client will never be rendered an obsolete talent Lastly, in this current market, understanding how to buy or sell foreclosed or pre-foreclosure property is a valuable talent.
One of the largest segments of my clientle is foreclosure intervention. Although there several potential solution for distressed home owners, most people in foreclosure simply bought over their heads and simply cannot afford to stay in their home. To make matters worse, most of them also owe more than what they net out of a sale. The average real estate agent simply over prices the house to compensate for the over extended mortgage loan. When no offers come in, the foreclosure is bound to continue and ultimately it is a lose, lose, and lose situation. Knowing how to effectively negotiate a short sale is an invaluable skill that is going to grow in demand. This skill can benefit the sellers who are in financial trouble, the buyers who want a great deal, and the agent who facilitates the transaction when nobody else can.
The bottom line is this.... seek a true expert if you are a consumer in the real estate industry, if you are a real estate professional... it's not enough to be competent. You have to be an expert if you want to succeed!
Ralph D. Nudi