Latest Articles

2010-02-23 22:00:34

Wow! Buyer Traffic Was Incredible This Past Weekend

 

This past weekend I did something that I have done my entire career, but I don’t know of any other brokers that would. Both Saturday and Sunday I went out to all the Open Houses in all the nearby communities.
To say I was stunned is an understatement. Remember I’m only referring to SW Florida, but from what I heard from the potential buyers, I have to feel fairly confident that the buyer’s mentality probably is the beginning of national phenomena.
The average Open House that I attended this past weekend had 7 potential buyers come through the door. In one case, as I entered there was a buyer pulling up at the same time I was , two buyers were already in the Open House and one buyer was leaving as I pulled up.
I was telling my staff this morning that I felt like it was 2005 all over again!
I spoke with one buyer with New York license plates and his statement was telling. He said “Everyone knows that there are incredible buys out there and we are at the bottom of the market”. He’s right about being at the bottom of the market. Inventories are down in many markets and as a result we are even starting to see some small appreciation.
There are a number of locations around the country where the inventory is down to a 4 month level. Even in this area of Florida, we’re down to a 7 month level of inventory. Once you hit a 3 month inventory level the advantage goes to the seller. We will in the next year see our industry in some areas, return to a seller’s market.
Realtors and my staff ask me why I would go out to Open Houses. My answer is fairly simple. I love Realtors. My Dad was a Realtor, my Mom was a Realtor and I have been a Realtor for 40 years. I understand what Realtors go through. I respect and appreciate Realtors.
I told my staff that when we have 30,000 Realtors in our company, I will still go out to Open Houses. I truly believe that any Broker that can’t or won’t go visit the troops in the trenches should not be a Broker. Realtors are the Broker’s customer.
I share with our Realtors everyday that I’m not in the Real Estate business. I’m in the Realtor business. My Realtors are in the Real Estate business. My Realtors are my customers and it’s my job to support them in the pursuit of their business.
Money is never the driving force behind which company a Realtor chooses to go with. It’s the respect of the Broker towards the Realtor and support of the Realtor by the Broker that is ultimately number one to the Realtor.
I digress. The bottom line is I saw one of the prettiest sites that I have seen in the last four years. That was seeing all these potential buyers out looking at Open Houses.
 
James A. Crumbaugh III is CEO of Allison James Estates and Homes can be reached at . Check out the Allison James Group on RealTown.jcrumbaugh@allisonjames.net 
 

Recent Posts

Next Videos

Related Post

Industry, Education

Negotiating Tip 110: Standard Practice

March 25, 2019

Industry, Education

Negotiating Tip 109: Silence: A Success Story

March 24, 2019

Industry, Education

Negotiating Tip 108: The Concession Mechanism

March 23, 2019

2019 Real Town The Real Estate Network