Once upon a time in a city by the ocean, a real estate agent had a lot of listings. In those times, selling a home could take up to a year. Keeping listings fresh and attractive to buyers took a lot of effort from the agent and the seller. Plants needed to be kept blooming, houses had to be ready for showings 24/7, and prices went up and down like yo-yos. Times were tough as you poured money into print advertising, newsletters, and agent lunches. When your listing(s) sold you danced in the street...at least you thought about it.
Years went by and eventually, houses started selling in hours instead of days. Interest rates were at the lowest in, well, forever. Inventory was low. Sellers staged and made their homes so attractive there were multiple offers. REALTORS were happy, sellers were delighted, and most, but not all, buyers were happy.
Clap of thunder....oh no, the real estate market started to change. Prices began to go down. Interest rates went up. (The public thought 7% was high. They were too young to remember 18%.) Multiple offers were a thing of the past and not all builders offered co-broke commissions. Buyer agency documents were required and not all sellers wanted to pay a buyer agent commission.
How did all that work out? What happened next? Stay tuned. Never a dull day in real estate. Ask Franne for the next chapter.
