A Sign of the Times

These days achieving home ownership is no easy objective to accomplish.

In fact no thanks to many variables in today's resale real estate and financial markets - it is nearly impossible.

The process is vastly complicated by wild price fluctuations, a market flooded with distressed properties, tight restrictions to qualify for funding and the need to considerable down payments just to get into the game.

The other day I was leaving a local restaurant and I saw this sign in front of a vacant home owned by a developer. 

Say hello to what I now call in this real estate market - the sign of the times.

I am becoming more convinced than ever that for the near term the residential real estate market needs to more flexible.  Everything for sale almost needs to be for lease as well.

Why?

Opens up the market to more options - buyers and potential tenants.  Allows the Seller to buy some time for the market to recover.  Gives the consumer an option and more flexibility.  Makes qualifying someone to move in a lot easier.  Stops the outflow of cash.  And these days, the after tax cost of leasing versus buying could well be a wash.

If there was ever a doubt why do you think that Trulia, Zillow, RealtyTrac and others online started offering rental listings for display to consumers?  Do they know something about the consumer's demands that we don't?  The answer is yes they do.  They listen closer to the consumer than we do and they reacted to fulfill a new expressed need - basically months and months ago. 

Face it folks.  Rent versus buy comparisons are a reality in this market.

But hey, what about my lost commission income on a lease versus a purchase transaction?

It's not lost money. 

If you do a good job for the Seller and provide an interim solution your opportunity to sell the property is nothing more than deferred for a year or so when the lease expires. 

But do beware.

If you do nothing now and try to market a listing without success, it will assuredly be lost money when the listing expires and the Seller terminates you - that is guaranteed.

Crazy times like these call for crazy solutions.  Added flexibility and creativity may be different than what the masses are doing but what's wrong with that?

Think about it.

Since when has anyone made anything worthwhile out of applying traditional thinking and conventional wisdom to anything? 

Go open up a new conversation with your Sellers today.  Explore the options and please do something other than just pound on them for yet another price reduction.  

Today's Sellers are more confused than ever - and they need your help more than ever to solve problems with flexible solutions.

Turn an obvious sign of the times into a unique marketing offering now and build your book of business for the future.