“We are lowering prices, raising commissions and staging vacant homes. In some segments of real estate, there is 800 percent more inventory than there was a year ago.
“It is said that we have the same amount of buyers as last year, and even so, only one out of eight homes will sell this summer. We are advising sellers to make their homes as most attractive as they can, not only physically, but priced attractively as well.”
“A year ago, we were in a seller’s market. Now we are in a buyer’s market. We are advertising more, marketing ourselves more, showing buyers more property because there is more to choose from. Buyers are now more selective.
“We are also educating more sellers and teaching them how to price realistically. A year ago, everything sold no matter what condition, but that is not the case this year. We have to teach more curb appeal now and price more in accordance with the market.”
“A year ago, we didn’t have a chance to negotiate with buyers and sellers.
“We have to educate buyers and sellers on price and interest rates.
“The real estate market has cooled down and changed. We have 18,000 homes this year on the market as opposed to the 3,200 we had last year.
“Buyers were trying to buy homes faster last year, the demand was high and the supply was low. But this year, that is not the case.”
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