Got Buyers?

2008 will likely be remembered as one of the roughest real estate market we’ve seen in a long time!

For sure, here in Michigan, it was another rough year.  It was compounded by the fact that so many folks were leaving the state, losing jobs or getting behind on their mortgage payments.

After a brutal winter of cold and more snow than usual, it appears as though spring is nearly here!  I know the tulips are pushing through along my driveway, but is the housing market close to thawing out yet?

Real Estate Thaw of 2009

In Anderson Township, Ohio, they are seeing a rise in the number of attendees to open houses and more folks are considering even selling their homes to purchase at a great price.

Some of the houses that we’ve looked at have been on the market at least six months. Some have been on the market, gone off the market, come back on the market,” house hunter Barbara MacKenzie said. I have a stable job, I don’t think I’m going to get laid off or anything, and for those [reasons,] it is a good time to buy…..

Beaufort, South Carolina is also seeing an increase in activity.

Other members have also seen more potential buyers recently, said Jean Beck, the association’s executive vice president.

She hopes low interest rates and a tax credit for first-time home buyers included in the federal economic stimulus bill will convince clients to buy.

“It’s exciting to hear the Realtors be excited,” she said.

One thing that both of these communities have in common is an unusual slow down in their housing market.  The slow down can easily be explained away by the economy, but the scary question that remains on every Realtor’s(R) mind is, “When will the market at least bottom?  When can I depend on a more steady stream of business?”

For sure, the $8,000 first time homebuyer credit will push a few folks into the buying mode.  Will you get your share of those buyers?  How will you reach those buyers?  Mailers? Door knocking? Ads?

One thing is sure about the Real Estate industry: it is always changing!

The most recent shift in the industry happened about the same time the bottom fell out of the housing market.  Of course, the shift that all agents are scrambling to keep up with is technology!  The bottom falling out of the market simply escorted some our colleagues into early retirement or other lines of work as it became too difficult to maintain the same level of production.

The basic skill sets needed for sales still apply.  However, the old school ways of attracting, finding and keeping business just do not work as effectively as before.  That’s not to say that print ads don’t work.  They probably still do and that’s why agents continue to spend money on them.  Simply put, supplement the old school methods with some new ones!

Here are a few sources for ideas: