"During the boom years of 2020 through early 2022, the housing market was so hot that you practically didn't need skills to close transactions. Homes sold themselves. Buyers were writing offers sight-unseen."
"Think of it like learning to sail on a perfectly calm lake with a motor attached to your boat. Sure, you're moving across the water, but you're not really sailing."
"The moment the conditions change - the moment the motor cuts out and the wind picks up - you're not a sailor. You're a passenger."
"Now the market has changed. Leads have slowed, and transactions are no longer as straightforward. For many agents, this shift is revealing just how important prospecting, negotiation and communication are."
The real estate industry is experiencing a correction, with membership declining from a peak of 1.6 million in late 2022. Many new agents, attracted by the booming market from 2020 to early 2022, lack essential skills due to the ease of closing transactions during that period. As the market shifts, experienced agents find opportunities while newer agents face challenges in negotiation, prospecting, and managing complex transactions. The current environment emphasizes the importance of foundational skills in real estate.
Read at www.housingwire.com
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