11 Sep 2011

Does your Realtor really know the market?

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In real estate we meet once per week and talk about our new listings, (presenting them to our fellow

Realtors) and then we tour homes listed for sale that agents have asked to be included for the current area tour.  This is our weekly MLS meeting and tour.   In our town we have 6 different areas which we rotate on a regular basis.  East and west are pretty much town (Sierra Vista).   North is Huachuca City, Whetstone and even over to Patagonia and up to Benson.  South is all South Sierra Vista, Hereford and Miracle Valley.  Then every 6 months we do a Tombstone tour and then a Bisbee tour.  For the Realtors who regularly tour, you really learn the inventory and the current pricing.  I always know what is available on the market and I can tell you if it is priced well, or not (over priced in the area).

 

 In addition I always check the “hotsheet” each morning while I enjoy my cup of coffee.  The hotsheet is all new listings on the market from the day before, in addition to properties that have gone under contract, sold, had a price change, or been withdrawn from the market.  Because I check the hotsheet each day, I recognize listings that have been listed by the same agent and are now being disguised as new listings, with a lower price.  I can also tell you which homes just changed Realtors without changing prices, and which ones have been on the market forever and are really ready for an offer.  I will usually recognize homes that sold a few years earlier, and some several times in the 14 years I have been selling Real Estate.

 

 Knowing the market gives my buyers the advantage over agents who don’t have the time to know the inventory, or don’t want to bother.  Most agents  rely on using the MLS system for all of their property needs.  Some agents only look at the MLS system when a buyer turns up looking for a certain price range.  (These agents are easy to spot as they have great trouble getting their system to work, because they rarely use it.) There is no way from looking at a listing and the photos to tell if it is priced well for the area or not, you simply have to go out and look.  Photos can be very deceiving!!!  I am able to save my buyer both time and money because I have seen the properties on tour and I know which Realtors are using a property for a “sign call”.

 

What is a sign call you may ask?  Call me and ask, otherwise, look for my next blog!!

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