Real estate agents are going into overtime to get as much accomplished before the market cools down for the winter, despite an improving market.
The holiday season also provides a bit of time to prepare for the upcoming year. Real estate agents use this time to come up with new marketing plans, establish new connections, and catch up with the older ones.
Residential real estate expert Jeff Sutherlin said the first part of November is “really important to the market; we want to get as many people under contract or in escrow as we can. We try to get a relationship formed so come January, the relationship with the client is already there and we can capitalize on the first quarter sales surge that takes place after the first few weeks of January.”
Sutherlin is senior vice president of the residential division of Thomas Title and Escrow.
Phoenix-based Realtor Linda Kaplan said, “Purchasing a house is usually the largest purchase someone will make in their lifetimes; most people want to make sure they are doing it at a time when they can think clearly. People are busy with the holidays, with their families and friends, they don’t have time to be stressing out about buying a house at this moment.”
For Stephanie Bray, who is based out of Tempe, it’s all about being “diligent.”
“There will still be people out there looking for, and selling their houses. A transaction doesn’t happen overnight, so I use this as a window of opportunity to fill the pipeline for January by doing the work now,” she said.
Even with the holiday slowdown, the real estate market is doing relatively well in Arizona.
When comparing the single-family housing market in Maricopa County from Nov. 1 of 2015 and 2016, houses over $150,000 were consistently higher than last year at this time, according to The Cromford Report, a Phoenix-based daily real estate market insight.
While the market is not where it used to be, it is on the rise, and Julie Weisenbeck, an investment property specialist at Investment Property Experts said, “Things have slowed down a bit, but overall this season is much better than the last. Everything is looking very positive for growth, especially in Maricopa County.”
Sutherlin said being able to adapt to the changing market has always been the most important aspect of successful real estate. In a world of technology, he emphasizes the face-to-face interaction needed to keep his clients happy.
“It’s about being grateful with that person. You have to do more personal contact, double down on the activities that work well for you,” Sutherlin said.
The market has been steadily improving over time, and Bray said it has turned into a seller’s, rather than a buyer’s market.
“The market you want to see is out there, you just have to be good at finding the opportunity, no matter how big or small,” Bray said.
