It’s so easy to get caught up in the day-to-day swings of the marketplace, reacting to a housing report here, an interest rate change there, and so on. But it’s vital to step back and look at the bigger picture in order to understand where the industry is going so you can respond appropriately.
In this second of two videos (the first) on the ways in which the overall economy and the real estate industry intertwine, Tom Iovenitti discusses how market changes like interest rate drops impact buyer and seller behavior. In particular, he talks about how the attitudes of the different parties may not be in line with the reality of the marketplace. For example, your sellers may want to charge far more than their property is worth, thinking they’re still the ones in control. By educating yourself on the big picture, you can respond appropriately, which will improve the chances of success for all.