In these days of uncertainty with the real estate market and economic outlook, everyone is being cautious and making cuts of unnecessary costs. Some are delaying decisions that they suddenly deem as wants and not needs. Others are simply holding back making any big changes until everything feels more secure – whether it be their job, their investments, their company’s situation. Others have just downsized their plans, but are still moving forward.
What have you seen buyers and sellers doing that they would not have done a year or so ago? What evidence do you see that buyers are being fiscally conservative? What changes are move-up sellers discussing? What has happened to corporate relocation business?
Do you have a lot of fence sitters who are not sure what to do and when to make a move – whether it’s buying a home or selling their current one? Are there buyers you have been working with who had a down payment for a house, but after the stock market decline have to start over again? How are transferees handling relocations…and how has their corporate support changed?
In light of all these changes from the buyers and sellers you work with, you need to continue your contact with those who aren’t sure what to do…and those who have changed their mind. Although choices change due to the current economic conditions, at some point, these fence sitters will eventually have to make a move. Some will be forced into a making a decision whether they want to or not (think job relocation, job loss, family/life changes, etc.). If you are there with continued contact, you will be the real estate resource they turn to when they are finally making their move.
What methods are you employing to keep in contact during uncertain times?