Interest rates are up to 7%. Pending sales are down 42%. And yet, many real estate agents continue to do business at a high level, despite the dramatic market shift.
In April of 2022, Brittany Gibbs, Heather Robbins and Kim Gellatly appeared on the podcast to discuss the developing shift and share what they were doing to prepare for the market correction.
So, what did Brittany, Heather and Kim get right? What has surprised them in the last six months? And what are they doing to find success in the current real estate market?
On this episode of The Portland Real Estate Podcast, Brittany, Heather and Kim sit down with hosts Joe Fustolo and Steve Nassar to discuss how the rise in interest rates and decline in pending sales is affecting their businesses.
They explain how seller and buyer behavior has changed with the market shift and offer insight around how what’s happening now compares to the Great Recession of 2008.
Listen in to understand how the market slowdown is impacting other real estate professionals and find out how Brittany, Kim, Heather, Joe and Steve are finding the opportunity in this market shift.
How rising interest rates and declining pending sales affect our panelists’ businesses
Why proactive communication with clients is crucial in the current market
How seller behavior has changed with the real estate market shift
What our panelists are doing to set expectations with sellers in the listing appointment
How buyer behavior has changed in the current real estate market
The creative strategies our panel is using to get around higher interest rates
What surprised Brittany, Heather & Kim over the last 6 months
How the current real estate market compares to the Great Recession of 2008
Why there is more cooperation among real estate professionals right now
How the market shift is impacting other real estate businesses (title, lenders, inspectors, etc.)
What our panelists are doing differently to be successful right now
What Brittany, Heather, Kim, Joe & Steve are optimistic about going into 2023