What have you changed in 2023 to improve your real estate business?

[Adrienne Rammohan]

Looking for agent feedback on what kinds of strategies you've implemented this year--to help clients close in the current market environment.

[Eric Jubeck]

The current market just means you have to do a better job of setting expectations and being very transparent about the data. The numbers don't lie, and we know real estate is hyper local so you have to dig into not just county or city data points, but drill down to individual zip codes and even specific neighborhoods. Key metrics we look at are always avg sale price to list price ratio (knowing the normal % discount off ask), avg time to contract (how long they sit, which also typically dictates if a home is overpriced or not, perhaps sitting too long), and of course price per sq ft running your comps.

Just drilling down into the data and knowing your numbers is everything whether you're helping a buyer get a better deal, or setting an effective pricing strategy on a listing with a seller. It's really not any different than REI where the numbers have to make sense because it's not an emotional decision and they have to add up...

The real estate market has just come back to being the same...no more quick emotional decisions in most areas anymore, waiving inspections, going in higher over ask, etc...now consumers are back to taking their time, evaluating their buying and selling decisions more carefully, and ensuring they're working with an agent that actually understands the data and knows the market giving them honest information they can trust. If you're providing them with the right information, and the deal makes sense, there's still plenty of people buying and selling in this market...over 4 million of them actually...