GOT TO PICK UP OUR GAME!

You can write it down now, the real estate market in Hampton Roads/Northeaster North Carolina and most of the rest of the country is in a downturn. Things went south in June 2022 and haven’t improved significantly since. The federal government’s deficit spending and the Central Bank’s inept fiscal policy is the root of inflation and high interest rates – real estate’s worse two nightmares.
High inflation and high interest rates combine to increase home sales price and the cost of ownership. The current mortgage rates make it almost impossible for a first time buyer to qualify for the kind of home they would expect to purchase. High interest rates further stimy the desire for families to sell their home and move up to a larger home or go to a new neighborhood or community. Inflation drains money from potential homeowners for expenses not related to buying a home, i.e. food, insurance, transportation, and high interest rates increase the consumer’s cost of using credit. These are the reasons for this real estate downturn.
So what do we do now as agents and brokers? Each of us has “got to pick up our game”. There are plenty of agents out there who are having record years in 2023. We need to change our habits and be one of those agents. Join our upcoming “Prospecting for Success” program starting on Monday, October 30th. Look for details from your Sales Manager and change your real estate career right now before the end of 2023.