Better days are coming, the experts in real estate keep telling us. Many of us, including Realtors, buyers and sellers are counting the days.
Jordan Levine, California Association of Realtors (CAR) Chief Economist, shares that “mortgage rates could go up to 7.5% and home prices could rise.” However he is not predicting that the bottom is going to fall out of the market. He continues to share that the market will improve as the economy stabilizes. Levine also shared that, “We aren’t rushing to pop the champagne cork, but we do see things continuing to get better.”
So, with this outlook what does this really mean for realtors, buyers, and sellers?
Pondering this question, I looked up the meaning of the word resiliency. According to Oxford languages and Merriam-Webster, “Resilience is the process and outcome of successfully adapting to difficult or challenging life experiences, especially through mental, emotional, and behavioral flexibility and adjustment to external and internal demands. It is also the capacity to withstand or to recover quickly from difficulties; toughness.
If a picture description were put in the dictionary, you would see the picture of a Realtor. Actually, and not to be too “cheeky,” you would see a picture of a superhero. Let me explain.
A Realtor is an individual who gets up every day not knowing what their day will bring. They know that they will be in the mode to sell real estate, but it will not follow a simple straight line. There is a roller coaster of events that take place for a deal to actually come together and close. The process to sell a home starts a year, possibly years, before.
Did you know that a Realtor needs to make sure that they stay in touch with a potential client 36-40 times per year? These touch bases can include mailers, emails, text messages, pop by visits, phone calls and client appreciation events. Not to mention social media outlets whereby your Realtor may be your friend on Facebook, comment on your Instagram, or be your Tik Tok follower. All of this may sound a little “over the top.” However, it is truly the lifeline and success of the Realtor. However, I digress. Let’s put resiliency together with the present real estate market.
We, as Realtors, have returned once again to the basics of real estate. The success of any business is building the foundation. Once again this is where resiliency comes in. All of us, whether you are a Realtor, buyer or seller, are facing hardships. Those of us who can tap into their strengths and support systems will have the best chance to overcome challenges. Adversity always brings great growth. This definitely aligns with being a superhero. Realtors, unlike superman, may not be able to leap tall buildings in a single bound, however we are mighty, strong and dare I say resilient.
Bottom Line
Your Realtor is presently navigating lower inventory and higher interest rates while walking beside you through the process. Know that they would move heaven and earth to make you happy and close a deal stress-free if they could. A little bit of grace goes a long way. Wishing you good health always and big hugs.
• Donna A. Baker is the Broker-Owner of At Home Real Estate Group in Tracy, selling real estate for 23 years. Her memberships include National Association of Realtors, California Association of Realtors, Certified Residential Specialists, Central Valley Association of Realtors, Accredited Buyer’s Representative, Certified Distressed Property Expert®, and Short Sales and Foreclosure Resource.
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