Los Angeles Real Estate BlogRecently posted or modified blog posts in the category - Agent Infohttps://www.thinkrealestategroup.com/blog/Copyright ThinkRealEstateGroup.com2021-12-20T11:02:51-07:00tag:thinkrealestategroup.com,2012-09-20:16798How Do We Know When the Market Shifts?How will you know when the market's about to turn? The market continues to be red hot right now. Everyone's wondering, is there going to be a shift? Is the market going to cool down? To answer that we have to watch signs that the market provides.
Currently in Los Angeles, it is a seller's market and homes are selling in about 21 days. In Los Angeles, buyer's market is usually defined by an environment that a house sits on the market for about 90 days. We have a long way to go before it's a buyer's market. But what's going to happen on the way there? What are the metrics I follow are interest rates? Right now there are about 3%,, depending on the type of loan. But when those rates creep up to 3 ½% or 4 ½% and heavens forbid 5% interest, you're going to see buyers pause. Which will cause houses to stay on the market longer. We may see houses stay on the market for 30 days or 40 days. This is still not a full-blown buyer's market, but it will help with inventory once houses are on the market for 30, 40, 50 days. You will see price reductions begin when the days in the market creep up to 50 and 60 days. Next, you will see some houses not selling at all and just expiring right around the time we get to 60, 70 days on the market. You're going to feel like prices are starting to soften but understand this: Prices will not drop equally with all houses. Some houses will feel the effect. Highly desired homes are going to hold their value. However, homes that are next to a freeway or are not in a great location or have other issues are going to drop first and most. These homes are going to be the real deals.
That's what to keep your eyes on to access if we are in fact in a buyer's market. Will we get there? When will we get there? Your guess is as good as mine. I'm watching the metrics. I'm watching the news. If you have any questions reach out, we're happy to chat.2021-12-19T13:56:00-07:002021-12-20T11:02:51-07:00Dave Roblestag:thinkrealestategroup.com,2012-09-20:158733 Ways to Get BusinessAre you a new agent or are you thinking of getting into the business? If so, one of the most important questions you're going to need to answer is how will I get real estate clients? There are three approaches that I've seen agents used to get business. The first one is - they wait for it. People get a real estate license and a business card and then wait for people to say, "Hey, I'm thinking about buying or selling a house". I have bad news for people taking this approach. You will probably be waiting a while. Now even a blind squirrel can find an acorn. so my dad used to say. But creating a thriving long-lasting business from waiting is a tough road even for the most connected people. The second option is you can pay for it. What does that mean? There are a host of businesses aimed at selling leads to realtors. Advertisers like Zillow, Market Leader, and the like will sell you leads at substantial costs however the quality of those leads may not always be the best. But people do it, and a lot of agents can be successful in paying for leads. The third way to generate business is to work for it. The proactive approach is of course the most work and also has the biggest payoff. It means you are engaging every day with your community and being a source of information for your friends and family. You are holding open houses with a well-honed script, you are being a resource to people in your community. And most of all you are talking to perhaps 10 people a day about real estate. That's not easy, believe me. But if you do it, if you do that work, you're going to meet the people that want to use you to buy or sell real estate. If you're curious about what we're doing here, I think real estate to help our agents work for it and find business. Give us a call. I would love to chat with you. Dave Robles is the owner of Think Real Estate with agents throughout the greater Los Angeles area and in Utah. He is the managing broker for eXp Glendale. Dave has been a top producing agent and real estate agent trainer for over two decades. He has established a reputation for building relationships with his clients and the agents he mentors. Dave leads his team with a focus on service to the surrounding communities Feel free to contact us below:
213-712-4343
www.thinkrealestategroup.com2021-10-14T10:56:00-07:002021-10-14T10:58:37-07:00Dave Robles