Low Inventory? Time to Reinvent!by Betty Winn on 04/28/16
The last time I checked the stats there were only 947 single family residential listings in our entire Prescott Area Association of Realtors' Multiple Listing System. But, there were over 2000 residential vacant land listings.
We call this a Seller's Market. It is time to hone your sales skills and educate potential home sellers that this is the time to list their property.
Working with buyers may be a little trickier. With a low inventory, real estate professionals may have to change gears and become land salespersons. They are going to have to establish relationships with reputable custom builders and assist their buyers in the new construction process.
Realtors need to become experts on the new and existing subdivisions populating our landscape and make sure they register their clients with the new home developments and see them through the process of having a new home built.
There is really no bad time in the real estate industry; just different times that open up different opportunities for the real estate professional and their clients!
Good luck out there!