I’m sure you’re hearing a lot of questions from anxious clients in this market. Questions such as, “Are we in a bubble?”, “How can this sustain?”, and “Where is the market going to go?”
Right now, we’re all dealing with buyers who are resistant to offering full price or feel deflated about the current pace of the market. Our job as real estate practitioners is to help uncover the realities behind the market so people can feel confident in the decisions they’re making.
For today’s video, I’m going to reference quite a few talking points from Ivy Zelman, head of one of the nation’s leading housing data analytic and research firms. You can see the full outline of these talking points here (along with a link to an hour-long podcast with Ivy and Tom Ferry), and use the timestamps below to follow along in the video above as I explain the three main reasons that we’re not in a bubble and how you should be sharing that information with your clients:
2:25- No. 1: Low mortgage interest rates and the opportunities they’re giving homebuyers
3:29- No. 2: The long-term stability of the Northern Nevada real estate market
4:40- Why a pending “foreclosure crisis” is probably overblown because of strong equity
5:40- How telecommuting is catalyzing industry development in Reno, even amid a global pandemic
6:50- No. 3: Increased mobility rates and why more and more people are coming to Reno
8:15- How to use these talking points in the field
9:20- Wrapping things up
I hope this video and the attached talking points give you a good sense of how to communicate what’s going on to ease any concerns or fears that your clients may have about the accelerating market.
If you have any questions, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.