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Crazy Markets Make for Uneasy Times

Tariffs, deportations, war in Ukraine, lawsuits, scratched Teslas, wild swings in the stock market, and stubbornly high interest rates — it’s enough to make a grown man fantasize about being stranded on a desert island in the middle of nowhere. Give me a grass hut and no internet for a month. Please!

There’s no doubt that the current state of our economy, and the turmoil surrounding it, has people scratching their heads and wondering which way is up. Few segments of the economy are feeling the mental stress and anguish more than the real estate market.

In the same neighborhood, one home can sit on the market for a year unsold, while another down the street sells in 48 hours with multiple offers. What?

There seems to be no rhyme or reason as to why some homes are selling while others sit. A home can be perfectly staged, professionally photographed, widely promoted — and still not move.

Amid all this chaos, though, some real estate agents are still getting homes sold. But these times are not for the faint of heart or the weak.

Sellers are constantly uneasy, and buyers are like sharks — sensing blood in the water.

“Yes, Mr. Seller, I’ll take a leg. And when you think we’re done, I’ll take an arm too. Thank you very much!”

Agents across the country are posting about the newest hats they must wear: counselor and therapist. The truth is, there is a method that works —it involves hard conversations and hard data. Meek agents are suffering the most in this difficult time; lacking the skill to manage frustrated clients or offer strategies that actually work.

Many agents will tell you this is one of the most challenging markets in the past 50 years. In previous downturns, there were foreclosures, short sales, distressed properties — homes available for pennies on the dollar.

But where some people see only obstacles, others see opportunity. The old adage “Buy low, sell high” has never been more true than it is now. Investors who’ve kept liquidity are finding great property buys that will most certainly return strong profits in the future.

Fortune always favors the bold. And when people are scared — sometimes irrationally so — the bold make big moves. Fear is not a strategy for success. Anyone who has lived through a few downturns will tell you: opportunity is everywhere right now.

Turn off the news. Take a real look at the lay of the land. Figure out how to make your fortune in real estate.

Now is the time.

Steve Mallett, Broker Associate, GRI-Mallett Integrity Team - Keller Williams Realty, is the current President of the Board of Directors for DS Elite.