What’s Driving Real Estate Activity?

In my last column, I summarized with “My sense is we are heading to a more rationalized real estate market in a smooth manner, with everyone generally coming out fine.”

Since then, we’ve had three people approach us to sell their homes.

• The good doctor – a long term client purchased a new construction condo and is finally, after a year, getting ready to move. We’ve been talking to her so long we have a complete set of exterior photos from different seasons.
• Time to move up – a couple with children bought a home from someone he worked with who is retiring…and now needs to sell their home. It’s amazing…people buying homes from people they work with happens…and often something derails the process.
• Don’t need a home any longer – we got a call from a dear friend asking if we could sell a home for someone going into assisted living. It’s sad as the home is filled to the brim with a lifetime of memories…and we have a crew going through the home, sorting and cleaning.

The stories are indicative of why I believe we are returning to a more normal real estate market. None of these are “forced” or distressed sales. Just everyday people doing everyday things.

I’m not arrogant enough to believe a sample of three defines all the activity in a market. There are still a lot of jobs unfilled, suggesting some of those people may be having sleepless nights. That said, we are still getting calls to help with a purchase or sale.

One of the value-adds a real estate agent has is being able to call contractors and get quick help, be it landscaping, plumbing, floor coverings, inspectors, radon/mold mitigation, TITLE V, trash removal and the like. Nick Martinelli of Martinelli Painting (508) 757-4559 is such an example. We often call Nick before taking pictures to put a fresh coat of paint on a home. Nick ALWAYS says he is too busy, but ALWAYS delivers. When we need to put a full court press on preparing a property, we can reach out to our extended team. These people know we are professionals and won’t waste their time…and we make sure they get paid.

I heard someone recently say real estate agents are like Sherpas in the Himalayas. That’s an analogy with some legs. I like to simplify it. We help people with life’s transitions. If we do the right things for the people, then often a real estate transaction will happen (and admittedly we get paid). We see a range of emotions—the doctor and the family are excited to be moving, the assisted living person is angry (I suspect she’s scared and not happy with entering that phase of life and it comes out as anger).

That’s why I do real estate. To help people.

What’s driving real estate activity? Life.

We can talk interest rates, inventory, door colors, and a zillion other aspects of the real estate market….and in the end, life goes on and so does the real estate market.

Stay sanitized!

Here is free app for your phone/tablet tied directly to the MLS  https://www.homesnap.com/Gary-Kelley.

Gary is heard on WCRN AM 830 discussing “All Things Real Estate.”

If you need advice on selling your home or buying a new one, give us a call at 508-733-6005.