Real Estate Market Pulse
The market continues to favor the sellers. We are experiencing heavy volumes of showings as soon as we bring listings to the market. Receiving as many as 5-10 offers on attractive, well priced properties is very common. Prices are on the rise as a result of the demand. Luckily, appraisals have not been missing the mark. It is apparent that the banks see strength in our market. This trend will continue as San Diego is rapidly running out of centrally located land for new development. As soon as one home buyer wins their seller’s bid, all of the non-chosen buyers are right back in the market, hawking the next listed property in the same area. Interest rates have hit their low point for the year in April. This is a key component as prices increase. Low rates translate to more affordable payments, and keep buyers in the market place. If you, or someone you know, is struggling to purchase a home in San Diego, contact us. We have several strategies that achieve winning results. Sellers and their agents are looking for well written, clean offers. Longevity in the industry, reputation, and experience provide our clients with a distinctive competitive edge in this market!
Article of the Month
Does your job involve predictable, black and white results? If so, could you soon be replaced by a computer, a robot or artificial intelligence (AI)?
We all like to think that we are not replaceable. Everyone wants to feel as though they are an important part of what makes their company move forward every day. We are witnessing the world change before our very eyes. Grocery stores have self-checkout. Commercial airlines are at a point where they could fly themselves. Doctors are performing operations and procedures with the aid of robotics.
Technology is vital to every occupation. People are at a point where they cannot function without their smart phones. Computers are most proficient at recalling information. They are reliable with repetitive, consistent results. However, computers lack intuition and have difficulty with complex results.
My business is full of multifaceted decisions that require a keen ability to read human emotion, and exercise empathy all of the time. A good real estate broker has to balance a unique combination of human intuition, reasoning, and emotion. I work in an industry full of gray area. I seldom deal with matters that are black and white.
I start every new transaction, whether with a repeat client, referral, or brand new client, with an in person meeting. I like to meet at my clients current home. It affords me the ability to see the scale of the home where they are currently living, to understand their style, and feel the reasons that have provoked their need for change. Using technology, I can assemble my notes from our meeting, and input the data from the parameters they provide into a computer. Voila! A list matching the parameters is produced and sent to the clients. We then set an appointment to privately tour the properties. Although they matched our parameters, often times we walk in, and the property just does not feel like home. There may also be some incurable defects and other characteristics that only seeing, hearing and touching the property can detect.
The perfect fit is when a property matches the heart and mind of the buyer. My intuition can feel both the disappointment when the home is not a match, and the exuberance and excitement when it feels like home! I feel and recognize unspoken emotions through reading body language. I also utilize intuition and experience to assist a client with supporting those feelings and emotions. This is the exact opposite approach of a computer. Artificial Intelligence lacks the ability to think outside the box. Computers cannot read and feel emotion.
I have seen a ton of changes to my industry over the last 22 years. Today consumers are inundated with a ton of data and information. When it comes to housing this information needs to be interpreted. After interpreting the information I have to have the ability to reason with the client, and the opposing agent in the transaction. This also occurs with inspection information and disclosure issues. I have to help my clients understand the whole picture and figure out if moving forward makes sense for them. I have to offer strong leadership and prepare clients for what will happen next. The answers are never the same. This is where a human being is needed to support and reason with another through the home buying and selling process.
The market is never stagnate. It is always changing. Feeling that change comes from experience and being fully engrained in the industry. Speaking with people on the phone every day, meeting them at open houses, and touring homes with clients, provides a valuable live sample group from which to gather information. I can feel when people are aggressive and see that trend building momentum. I can observe when people are scared, or hesitant and see the results of those emotions impacting the market.
Owning a home is one of the best, and at the same time, most stressful undertakings in life. After all, a home provides protection. We gather with family and friends at our home and share Holidays together. We rest and nourish ourselves in addition to storing our most prized possessions at our houses. Last I checked, computers don’t own homes. They don’t know the feelings of navigating a multiple counter offer situation when you really want the home. They have not faced attempting to sell a home during a recession in the economy. This is where my ability to empathize with my clients pays huge dividends. I have had clients that see a home and fall in love. We have written an offer, a letter to the owners and provided a strong lender approval letter. The sellers have decided to work with another buyer. When I have delivered the news that a buyer did not get their offer accepted, I have had people tell me that they do not want to look for a home any longer. They feel a huge sense of loss.
Having purchased and sold properties with Kristine, we can put ourselves into our clients shoes and help them to get back into the market. We can help them overcome their feelings and fears. I can use human intuition to feel what they need. I can rely on empathy to connect with them in a human way, and help them to obtain results that materialize much differently than perhaps they may have first envisioned. This occurs with sellers and buyers!
The decision to implement computers to replace human jobs is centered around cutting overhead, gaining efficiency and better serving a company’s bottom line. In my real estate business, my goal is to always serve my client in better ways. I strive to provide human care. Relying on my intuition with people, listening, reasoning, empathizing, and providing emotion support are always the goal. I believe that as long as we as Realtors maintain our focus on service, centered around those key human components, and strive to make the home buying and selling experience easier for our clients, we will offer a service that cannot be replaced by computers, robots, and other artificial intelligence!
Please share any thoughts and feelings about this subject with me!