Quit Fighting Change in the Real Estate Industry

The real estate industry has changed dramatically over the past 20 years with technology evolving faster and faster. Fads come and go with somethings working and others not so much…remember QR codes? As a realtor, our advertising has to continue to develop and grow and become faster.

In the beginning there was the MLS with each listing controlled solely by the brokerage and it was up to the agent to advertise to get it sold whether it be magazines, newspaper, flyers, etc and it was Good. Then, the internet and its growth into our lives has changed the pace. First, there were company sites and the National Association of Realtors began Realtor.com to syndicate the MLS into one websites and this began a disturbance.

Over the years, other websites such as Homes.com, realestate.com and even agent sites have joined into the syndication. They grab local listings and advertise them to potential buyers and/or sellers to generate traffic. Then, the evil Zillow appeared along with Trulia and their marriage into one has caused controversy.

There is speculation that this website of Zillow that MLS syndicate it’s listings is going to become a national brokerage. Let’s say it does become a real estate company. Instead of becoming a real estate company and growing a national site, it was a national site that became a real estate company. Big deal! Is it going to change the way I market a home? No, I am always looking for new ways to get my clients homes sold and get new clients. I better be and so should every Realtor. Besides, what am I or anyone else going to do. Can you stop Zillow? What is stopping syndication to Zillow going to do besides losing advertising? A client does not care about your problem with Zillow. They want their home on the site to get it sold.

Let’s say they do become a real estate company and you want to stop your listings from going there…are you going to stop them from going to Century 21…or RE/MAX…or Coldwell Banker? I didn’t think so.

2013 Last Quarter Predictions

We are about to reach October for 2013 and wrap up this year that has seen a huge turnaround in the housing market. So, what do the last few months have in store for the local Collin County market? Here are a few predictions that I am foreseeing based upon a few trends.

1. Buyers will continue to push our market appreciation. So far Collin County has seen a 9.5% rise in the average sales price. We will probably hit under 11% by the end of year.

2. The inventory will rise to almost normal levels. Sellers are still putting there homes on the market even when the market usually cools off so this will move inventory levels back up to almost normal. We started the year almost 30% down and that is down to about 20% down.

3. Interest rates will continue to rise but at a slower pace. We started the year in mid to high 3% range and now up to 4.5 to 4.75% when the Fed quit buying bonds. They came out last week and said they will begin buying those treasury bonds and this immediately caused a dip. I believe with the housing market still hot banks will allow them to rise to low 5’s so they can make the money on rates they have lost over the last few years.

4. Builder costs will remain the levels they are now due to lowering gas prices and building materials remaining level. Also, when is the last time you heard of builders reducing their costs?

These are a few of my predictions for the last few months. Could they be wrong? Of course. Please feel free to let me know your thoughts. Love to talk housing.

Please feel free to email me at charden@remax.net or call me at 972-396-9100 if you have any questions or are interested in buying or selling a home in Collin County