Get in the Mindset of a Market Shift
Are you feeling the shift?
With the market slowdown taking place here in Tulsa, I knew it was time to dust off “SHIFT: How Top Real Estate Agents Tackle Tough Times” by Gary Keller. Regardless of how the market is doing, this book is a great resource. It’s always helped me re-adjust my mindset when necessary, and I know it can do the same for you.
The reason so many markets are experiencing this shift is because inventory is slowing down. Homes aren’t selling as quickly as they were in the past. Even those that agents expect to do well will tend to sit on the market.
Only time will tell whether current conditions are driven by our seasonal cycle or whether a bigger shift in our market is taking place. Either way, we still have control over how we think about our market, how we handle it, and how we talk with our clients about it.
Our clients need us now more than ever— especially in a market like ours here in Tulsa where the average sales price is $185,000. And sellers in the Tulsa area with a listing priced between $200,000 to $400,000 will find that much of the inventory in this range is growing stale. Many beautiful homes are simply sitting on the market.
Now more than ever, it’s essential that we guide sellers through seizing opportunities as they appear. To have the right mindset themselves, sellers must understand the mindset of buyers.
Pricing ahead of the market, which is the seventh tactic listed in “SHIFT: How Top Real Estate Agents Tackle Tough Times” by Gary Keller, is essential right now. It’s time to have a conversation with your clients about reframing their mindset for success in our market.
If you and your clients don’t price correctly from the start, buyers will move on to the next home. Especially in a market like what we’re seeing now, we’ve got to set our sellers up for success. That’s our job.
If you have any questions, please feel free to reach out to me. I look forward to speaking with you soon.
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