↗️ How to Thrive in a Shifting Market

Boise is once again front and center on the national housing market front – making headlines with more of a positive spin, as opposed to some of the negative commentary we’ve been hearing the last couple of months regarding our shifting market. From the Today Show, NBC Nightly News, and CNBC to the front page of the Wall Street Journal, Boise’s market is leading the change. We lead the nation as home prices increased and demand was through the roof during the pandemic, and we are now leading in market readjustment. We are currently a top-ranked state for business and one of America’s most stable housing markets.

Boise’s Housing Market Boomed Early in the Pandemic. Now It Is Cooling Fast (Wall Street Journal)

These are the 10 states with America’s most stable housing markets (CNBC)

The real estate market is simply moving in the direction of a more balanced market. This change presents opportunity. There is always opportunity in adversity. As an agent, this means that you can use this time of change to stand apart from others, as you remain optimistic and positive amidst the media sensationalizing the market slowing. You can be the voice of certainty to your clients and provide them with the knowledge of what is actually happening in our market and can be an expert on guiding them to making educated and informed decisions, whether buying or selling.

When the market shifts, it typically creates a sense of uncertainty. General human nature tells us to pause and to wait to figure out what’s happening. But now is not the time to sit back and wait to see what happens. You can take advantage of this changing market and grow your business during a time when a lot of other agents retreat.

Many of us that have been around long enough to have been through previous market shifts realize that change is constant and understand that our business needs to continuously change and constantly evolve as well. There are ways to take advantage of this shift so you can gain market share in a time like this. There are certain agents that grow their market share and there are others that fade out of the business. Now is the time to step up your game!

The current market is creating all sorts of opportunities. Understand the market. Spend the time becoming knowledgeable and informed and work to stay ahead of the curve. Surround yourself with colleagues who can help support you, share their experiences, and guide you through challenges. In times of change, consumers want to know they’re with someone they can trust and who has the knowledge, resources, and skillset to make them feel secure.

How to Thrive in a Shifting Real Estate Market
(5 Truths Every Agent Should Know)

From this video that was shared with our team of agents, here are a few things of note to be aware of in a changing market:

  • People want to deny changes are happening
  • Ego is going to kill a lot of business
  • The influence around you will be amplified
  • In times of change, there is a flight to safetyPlayers are separated from the pretenders

Change creates opportunity. Some people will thrive in this environment. Understand the changes that are coming. Make the changes faster in your business. Add more value to the marketplace. Not only are you going to survive, you will thrive!