๐๐Late last week, we had listed this gorgeous home in Redmond Ridge East. We went under contract in 4 days even before the offer review date!
While we are happy for our sellers and the buyers, I wanted to share a few insights.
The market has shifted rapidly. What worked till last month or even a couple of weeks ago, doesnโt work anymore!
Gone are the days when you could receive multiple crazy offers within a couple of days even for an outdated/ugly home. Therefore you need a team thatโs ahead of the curve and is not reacting to events but anticipating them and incorporating those insights in the BricksFolios 4Ps (our selling framework):

๐. ๐๐ซ๐จ๐๐ฎ๐๐ญ – the home, get it prime time ready.
๐. ๐๐จ๐ฌ๐ข๐ญ๐ข๐จ๐ง๐ข๐ง๐ – to the serious IBP – Ideal Buyer Profile. You need to know the IBP for the product.
๐. ๐๐ซ๐จ๐ฆ๐จ๐ญ๐ข๐จ๐ง – Reach the buyer via the channels they trust. The channels include the people they are influenced by positively, and
๐. ๐๐ซ๐ข๐๐ข๐ง๐ – This is the most important P. If you donโt get it right from the get-go, you are inviting heartache. Your original list price plays a huge role in getting the right offers and in the subsequent negotiations.
๐๐๐ค๐ฌ ๐ฉ๐ค ๐๐๐๐ช๐จ๐ฉ ๐ฉ๐ค ๐ฉ๐๐ ๐๐๐๐ฃ๐๐๐ฃ๐ ๐๐ค๐ช๐จ๐๐ฃ๐ ๐ข๐๐ง๐ ๐๐ฉ?
๐๐๐ก๐ก๐๐ง๐จ: If you are looking to sell your home, ask the listing agents whom you are interviewing about the 4Ps, and save yourself from having your property sitting on the market despite price reductions like happening with many listings these days. Work with experts, they know the game. They are not cheap but will get you top dollars quickly.
๐ฝ๐ช๐ฎ๐๐ง/๐๐ฃ๐ซ๐๐จ๐ฉ๐ค๐ง๐จ: If you are a buyer/investor, remember you can find great deals in any market conditions as long as you do solid research and make data-driven decisions.
โ๏ธDomestic and international investment capital is pouring into US real estate. Low-interest rates (yes the rates are still low compared to the typical historical rates) and attractive risk-adjusted returns are among the factors fueling this demand.
โ๏ธWhen stock, bonds, and crypto prices are tumbling, throwing portfolio concentrations out of sync, institutional investors typically resort to real estate to keep their portfolios of stocks and other assets in balance.
โ Individual investors can learn from this playbook of institutional investors on how to balance their portfolios, stabilize them, and capitalize on the inherent inflation hedge, as well as the tax benefits that residential real estate offers.
๐ชThe housing market is still very strong and there continues to be a severe imbalance between supply and demand.
๐ผ๐๐๐ฃ๐ฉ๐จ/๐ฝ๐ง๐ค๐ ๐๐ง๐จ: If you are a Real Estate Agent, know that competition for buyers/sellers is going to be far more fierce going forward. In the last two years, there has been a high influx of new real estate licensees, with over 156,000 people becoming realtors, which is a 60% surge as compared to 2018 and 2019, The New York Times reports.
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Hope this blog has been helpful. I would love your thoughts on what think of the present market and the opportunities that it offers.