The Market Status Defined?

The Market Status Defined?

By Guest Contributor, Mark A. Kaminsky, Branch Manager in the Coldwell Banker Residential Real Estate Hollywood Office

Why is it so necessary to have a definitive status on the market? Is it a buyer’s market? Is it a seller’s market? Is it an investor’s market? Is it a flat market? Is it a declining market? Is it a thriving market? Forgive me, but does it really matter? Perhaps it does, but for who? From a seller’s perspective, if they have to sell… it’s always a buyer’s market and from a buyer’s perspective, if they’re relocating, already sold or simply must buy… it’s always a seller’s market. For distress sellers, it’s always a depressing market, hence the word distressed. Investors, well the smart ones anyway, won’t define the market because as soon as people start talking about it, it’s too late for the steal deal. For the news media, the status of the market is simply a “good read”. For the REO (bank owned) properties, it’s always a “get rid of it quick” market… I could go on!

Well, if it’s so necessary to define the status before buyers and sellers make a move, perhaps they should recognize that there is only one viable source. That source is your Realtor, who dedicates their career to a high standard of professionalism, knowledge, training and experience. Because the fact of the matter is that once you hire your Realtor, the market becomes “your market”. It’s all about what your specific need is, your story, your final destination and how bad you want to get there. Your Realtor, the right one, can educate you on your options relative to your objective. This process begins with an initial consultation to clearly lock in and identify the working relationship. In this meeting data will be shared, trends will be explained, pricing and costs will be itemized and most importantly the process will be outlined… This is the time to hand over the reins to your Realtor, much like you would to your physician after a visit for any ailment that you have. If you are not completely secure in your decision, than your meeting ended too soon. From there, it becomes “your market” and you will clearly be able to define it!

Typically, in a traditional real estate transaction, it’s mostly about sell high/buy low, right? Well, that toggles a bit when there is a story… and there always is a story. I propose that folks no longer concern themselves with what others are saying. Identify why you are in the market in the first place and allow it to become “your market”.

To learn more about how you can consult with the very best Realtors in the industry, look no further than Coldwell Banker. There’s a reason we lead the market!