{"id":4415,"date":"2023-06-09T10:57:37","date_gmt":"2023-06-09T10:57:37","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2023\/06\/09\/why-does-selling-real-estate-seem-so-much-harder\/"},"modified":"2025-03-13T02:51:36","modified_gmt":"2025-03-13T02:51:36","slug":"why-does-selling-real-estate-seem-so-much-harder","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2023\/06\/09\/why-does-selling-real-estate-seem-so-much-harder\/","title":{"rendered":"Why does selling real estate seem so much harder?"},"content":{"rendered":"\n<p>Does it seem like you\u2019re spending more time with fewer qualified leads? Does it&nbsp;seem like every transaction is more challenging than the last? Are you working twice as hard for the same amount of income or less than you made in the past few years?&nbsp;&nbsp;<\/p>\n\n\n\n<p>You\u2019re not alone. This is an emerging symptom of the <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/are-we-seeing-shadow-demand-for-homes\/\" target=\"_blank\" rel=\"noreferrer noopener\">changing market<\/a>, and it\u2019s\u00a0not your fault. It\u2019s time to recognize the problem so you can get back into control\u00a0of your year.\u00a0\u00a0<\/p>\n\n\n\n<p>Here\u2019s what\u2019s happened that has largely taken the \u2018FOMO\u2019 (Fear of Missing Out)&nbsp;buyers and sellers out of the market.&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Purchases by <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/even-the-cooling-housing-market-isnt-curbing-investor-activity\/\" target=\"_blank\" rel=\"noreferrer noopener\">investors<\/a> have dropped by nearly 50% year over year in 2023,\u00a0according to <strong>Redfin<\/strong>.\u00a0\u00a0<\/li>\n\n\n\n<li>34% of buyers are first-time buyers and many of them either no longer qualify or\u00a0have chosen to step away from buying for a while. We have 7% interest rates to\u00a0thank for that.\u00a0\u00a0<\/li>\n\n\n\n<li><a href=\"https:\/\/preprod.housingwire.com\/mortgage-rates\/\" target=\"_blank\" rel=\"noreferrer noopener\">Mortgage applications<\/a> are down, and prices are up. There is no \u2018housing crash\u2019\u00a0on the horizon, but many people have sidelined themselves wishing for prices to\u00a0collapse or interest rates to down. This keeps uncertainty in the market. When people are uncertain, they\u00a0 tend to wait and see what happens. This means fewer transactions.\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<p>Nevertheless, 4 to 4.4 million properties will change hands this year. Most\u00a0agents only need one or two transactions per month to make a good living and three to four\u00a0per month to make close to or over a <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/average-real-estate-commission-rate-at-highest-level-since-2013\/\" target=\"_blank\" rel=\"noreferrer noopener\">million dollars in gross commission income<\/a>.\u00a0<\/p>\n\n\n\n<p>The challenge is <em>finding <\/em>those transactions when they are less obvious than in\u00a0previous years. You have to be more proactive than ever before, and that can feel a\u00a0lot more challenging! This is because the less motivated leads cover up the more\u00a0 motivated and qualified prospects.\u00a0\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Are you forcing deals to happen?<\/h2>\n\n\n\n<p>Let\u2019s take a look at some of the signs you may be spending too much time trying to\u00a0force deals to happen that might not come to fruition. Next, I\u2019ll present to\u00a0you a few easy solutions to make your life easier, more productive, and less\u00a0stressful for the rest of the year.\u00a0\u00a0<\/p>\n\n\n\n<p><strong>How do you know if your prospect may never transact? Are any or all of these\u00a0situations happening to you? Here\u2019s a short list of situations to watch out for.\u00a0\u00a0<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You found your buyer client exactly what they\u2019re looking for. The house checks&nbsp;all the boxes. You excitedly text, email and call them, but it\u2019s crickets.&nbsp;&nbsp;<\/li>\n\n\n\n<li>You have a listing and have received several offers at the list price, but your seller&nbsp;won\u2019t accept those offers because they expected over the list price, with competing&nbsp;offers.&nbsp;&nbsp;<\/li>\n\n\n\n<li>You\u2019re working with buyers who are enthusiastic and qualified to purchase, but refuse to write offers that are competitive. They\u2019re coming in way too low, asking&nbsp; for too many concessions, and\/or have a weak lender\u2019s letter. You keep losing,&nbsp;house after house but they (and you) keep hoping for a miracle.&nbsp;&nbsp;<\/li>\n\n\n\n<li>You have a listing that you thought was priced right. The condition and location&nbsp;are great, but after sitting on the market for more than 30 days, your seller wants&nbsp;you to raise the price, not lower it, in spite of slow or no showing activity.&nbsp;&nbsp;<\/li>\n\n\n\n<li>You have tons of buyers who say they want to buy, and ask to see homes but&nbsp;haven\u2019t gotten pre-approved yet.&nbsp;&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>In short, you may want the transaction to happen more than the client does. \u2018Real\u2019\u00a0<a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/how-to-best-serve-gen-z-and-millennial-homebuyers\/\" target=\"_blank\" rel=\"noreferrer noopener\">buyers<\/a> and sellers act differently than in the above scenarios.\u00a0\u00a0<\/p>\n\n\n\n<p>\u2018Real\u2019 buyers are calling you just as much as you\u2019re calling them to see what meets their criteria. They are loan-committed and willing to do what it takes to compete&nbsp;if necessary. They don\u2019t ghost you!&nbsp;&nbsp;<\/p>\n\n\n\n<p>\u2018Real\u2019 sellers confirm all <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/are-we-seeing-shadow-demand-for-homes\/\" target=\"_blank\" rel=\"noreferrer noopener\">showings<\/a>, stage the home prior to those showing\u00a0appointments, are calling you for feedback, and are open to negotiating to get the\u00a0job done. Sometimes they\u2019ll even call you for a price improvement. They\u2019re\u00a0motivated and ready to sell.\u00a0\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How do you sift and sort so you know whom to spend the most time with? <\/h2>\n\n\n\n<p>How\u00a0do you know who\u2019s a time vampire versus who will transact? There\u2019s only one\u00a0solution and that is to use buyer and seller pre-qualification scripts. A script is\u00a0simply a conversation outline that is question-based and establishes the prospect\u2019s\u00a0 time frame, motivation, and expectations.\u00a0\u00a0<\/p>\n\n\n\n<p>Make sure you are actually asking the following questions, using the&nbsp;pre-qualification scripts: (this is just a sampling)&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-for-buyers\"><strong>For Buyers<\/strong>:&nbsp;&nbsp;<\/h2>\n\n\n\n<p>\u201cWhich home in the area do you plan on selling?\u201d&nbsp;&nbsp;<\/p>\n\n\n\n<p>\u201cWhat price has your lender advised you not to go over?\u201d&nbsp;&nbsp;<\/p>\n\n\n\n<p>\u201cAssuming I find you the home that checks all the boxes you mentioned, on a scale\u00a0of 1-10, 10 meaning you\u2019re ready to go for it immediately and one meaning you\u2019re just kicking tires, how would you rate your motivation?\u201d (If it\u2019s anything less than\u00a0a 10, \u201cWhat would it take for you to be a 10?\u201d)\u00a0\u00a0<\/p>\n\n\n\n<p>\u201cHow do you feel about being in a multiple-bid situation?\u201d&nbsp;&nbsp;<\/p>\n\n\n\n<p>\u201cWhat are have-to-have features and what\u2019s a bonus for you in your next home?\u201d&nbsp; <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>For Sellers<\/strong>:&nbsp;&nbsp;<\/h2>\n\n\n\n<p>\u201cTell me more about why you\u2019re planning this move. Paint me a picture of your&nbsp;ideal scenario\u2026\u201d&nbsp;&nbsp;<\/p>\n\n\n\n<p>\u201cWhat price do you have in mind? How did you arrive at that price?\u201d&nbsp;\u201cIs keeping the home an option?\u201d&nbsp;&nbsp;<\/p>\n\n\n\n<p>In addition to well scripted, question based pre-qualification scripts, you also must\u00a0embrace the fact that generating more business means you won\u2019t tolerate the less\u00a0motivated, combative, or unresponsive prospects. <\/p>\n\n\n\n<p>When you generate, you don\u2019t\u00a0have to tolerate. Many times agents work with the wrong prospects simply\u00a0because they\u2019re the only leads they have. This is becoming more and more\u00a0problematic as the FOMO continues to dry up.\u00a0<\/p>\n\n\n\n<p><em>Tim and Julie Harris host a <a href=\"https:\/\/timandjulieharris.com\/category\/podcast\">podcast<\/a> for real estate professionals.&nbsp;Tim&nbsp;and Julie have been real estate coaches for more than two decades, coaching the&nbsp; top agents in the country through different types of markets.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many times agents work with the wrong prospects simply\u00a0because they\u2019re the only leads they have. This is becoming more and more\u00a0problematic.\u00a0<\/p>\n","protected":false},"author":39478,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[2825],"class_list":["post-4415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Why does selling real estate seem so much harder? - RealTrends - Blog<\/title>\n<meta name=\"description\" content=\"Many times agents work with the wrong prospects simply\u00a0because they\u2019re the only leads they have. 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