It is the time of year when everyone feels compelled to either summarize the year that has past, make a top 10 list or even some combination of the two. We are no different.  When we decided to write this blog, we asked our Realtors what information they would include on our list. Here are the answers:

• Patience is a virtue. With short sales and foreclosures becoming a big part of the real estate landscape, we have learned that being patient is essential. These types of transactions take much longer than a traditional sale.  We need specialized knowledge to navigate these waters and great partners to get them closed.
• We know how to get listings sold.  While demand is still a little lower than supply, you can get listings sold when they are in good condition, presented correctly, promoted appropriately and priced for today’s market.  Pre-inspection and home warranties make listings stand out.
• Real estate is local.  It always has been. But with the housing market on the forefront of all national media, buyers and sellers need a local trusted advisor (REALTORÒ) now more than ever. We have learned that we have to undo misinformation before we can start explaining the real story.
• Social media is here to stay.  We probably started learning that in 2010, but 2011 took it to another level of importance for our industry. Facebook, Twitter, LinkedIn and YouTube are all mainstays for us now.
• Real estate is still a relationship business.  Those of us who have been investing in providing relevant information to our contacts are having the most success.
• Our clients really like one-stop shopping.  You love it when we make it easy for you to connect with mortgage, insurance, and other homeownership services with just one contact.  We have found that it helps us get transactions closed when we are all working together.
• Patience is a virtue. This one makes the list twice.  Transactions need patient buyers and sellers who are willing to compromise and keep the end goal in mind. Focusing on what is within your control is the key to getting what you want and need. There is more than one way to solve a challenge; there is always a way to resolve.  Be flexible.
• Everyone doesn’t believe it when we say NOW is the time to buy.  We are going to absorb the extra supply and interest rates are going to increase.  Not if, just when.  Five to 10 years from now some of us will be saying “I wish I had bought real estate in 2012.”
• Homeownership is still the American dream.  Recent statistics from the National Association of Realtors proves it.  Our lovely 72 year old widow taught us that when she purchased her first house with us. As she shared, she didn’t care if she didn’t have many years left. She was never too old to live her dream!!!

We learn something new every day, every month, every year. We look forward to sharing our knowledge with you in 2012 and beyond.

By Phyllis Brookshire (Senior Vice President)