Current Market Conditions: Knowledgeable Insights on Local Issues Kate Vail Team Leader of the Kate Vail Team Coldwell Banker Preferred Overcoming Misinformation: Buyers Buyers always will come in with the certainty that the market is at least % undervalued. They will always want to get the deal of the century. Overcoming their misinformation at the beginning of the process of buying is the MOST important step in successful right now. The process has at least 2 extra steps that it had before the recession for buyers and smart agents. It is important to let buyers take ownership of the process more than ever for a successful and happy client. Constant contact is needed for both the agents and the buyers to keep deals together. DO NOT assume other affiliates are doing their jobcall! Overcoming Misinformation: Sellers Sellers do not want to give it away. Know thy Seller! Sellers motivation needs to exceed the current market conditions. Price is the best marketing tool. Condition needs to be improved pre-marketing. Incentives need to be added weekly that appeal to certain groups of buyers. Play up the negative if it cannot be erased. Effective Agents know the market statistics like the back of their hand. Use feedback from buyers to motivate your Sellers to write reverse offers or act on negative comments. STAY IN TOUCH! Ask the seller how they want to hear from you-Text,or phone? How often? Philadelphia County Active Listings vs.. Sold Listings Philadelphia County Average Sold Price Vs. Average Listed Price Philadelphia County Inventory Absorption and Average Days on Market Philadelphia County Bank Owned/Foreclosure Activity vs. National Source: RealtyTrac.com Philadelphia County Foreclosure Activity By Month Source: RealtyTrac.com Philadelphia County Foreclosure Average Price Point Summary Data is available for all locations access it! Knowledge is power. Critical selling/buying factors. Popularity of staging, auctions Financing considerations. Montgomery County Active Listings vs.. Sold Listings Montgomery County Average Listed Price Vs Sold Price Montgomery Inventory Absorption and Average Days on Market Delaware County Active Listings vs. Sold Listings Delaware County Average Listed Price vs. Average Sold Price Delaware County Inventory Absorption and Average Days on Market Source: RealtyTrac.com Montgomery County County Bank Owned/Foreclosure Activity vs. National Montgomery County Foreclosure Activity by County Source: RealtyTrac.com Montgomery County Foreclosure Activity By Month Source: RealtyTrac.com Montgomery County Foreclosure Average Price Point Source: RealtyTrac.com Delaware County Foreclosure Activity by County Source: RealtyTrac.com Delaware County Foreclosure Activity By Month and Type of Foreclosure Source: RealtyTrac.com Delaware County Bank Owned/Foreclosure Activity vs. National Source: RealtyTrac.com Delaware County Foreclosure Average Price Point