Real Estate Industry News | July 2024

Inflation is high.

Rates are high.

Inventory is slowly creeping up.

With all this in mind, I have questions for you:

  1. Are you optimistic, neutral, or pessimistic about the next 3 months?
  2. Which direction will home sales go in the next 3 months? 
  3. Will home prices rise or fall, or stay the same? 
  4. Most importantly, what is YOUR plan?

You need a plan. Here is why….

Did you know the WMLS has over 3,000 active real estate agents?

Did you know in the last 12 months only 45% of those agents have closed a deal?

Here are the WVMLS FACTS.

  • 3,374 total agents
  • From June 2023 to June 2024:
  • 1,541 or 45% of agents have closed 1 or more transactions.
  • ONLY 64 or 1.89% of agents/teams have closed 15+ Units.
  • 25 or .74% of agents/teams have closed 20+ units.
  • 7 or 0.2% of agents/teams have closed 30+ units.
  • ONLY 4 or 0.12% of agent/teams have closed 40+ units.
  • ONLY 1 or 0.03% of agents/team at over 100 units. 133 units, to be specific, at 6:36 pm on June 10th

So, I ask you again, are you optimistic about the YOUR business, YOUR market? Are you part of that 45%? Or are you “hoping” your situation will change?

I would advise you PREPARING for YOUR MARKET, no matter what the industry is headed for, or in the middle of because……People will always have a reason to buy and sell real estate:

Death | Divorce | Duplication | Destination | DEBT.

How are YOU staying Top of Mind? Are you consistently PROSECTING, for NEW and Nurtured clients? Start with me, your local title company with the largest footprint in Oregon and a partner who provides business solutions.

And finally, KNOW YOUR MARKET. Know your clients. As of Mid-June, rates show no signs of dipping much below 7%, if at all. Don’t anticipate that to change anytime soon. The industry professional that succeeds in this market, understands their client’s buyer potential and selling requirements, period.

In spite of the rates, affordability, and any other objections; hope is not a strategy for your business. Now is the time to dig in and lean into your business partners.

Thank you for joining another edition of Piatt News | Your local Real Estate Source

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