Favorable conditions in the real estate market can actually complicate business for top real estate agents. At that point, any agent, experienced or not, can come out of the woodwork and snatch up a listing — and the market will take care of it because it’s accelerating so fast.
In addition, the cost of business goes up in a good market because there’s more competition, which means more marketing costs.
However, if you’re a seasoned agent and your systems are so defined that you can make sure you’re in front of the consumer first — that you’re sticking to your lead generation — a good market is best.
It’s always better to be a seasoned agent in both a good and bad market.
Tim Bray believes that if you’ve been in the marketplace for an extended period of time and have created your sphere — you actually have an edge when the market goes south because you’ve already established the “know, like and trust” relationships that are necessary to do business.
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