Leaving Denver Market Behind

In our last blog, we shared with you the lack of homes for sale in the Denver market. If you recall, there were less than 800 homes, making it difficult for buyers to find a home. Well, it is also tricky for realtors. A REALTORS job is to help clients find a home to buy or help a client sell, and if there are barely any homes for sale, it isn’t good for business. In 2008 something similar happened; however, no one was buying, and this time, no one wants to sell!

The biggest reasons homeowners share are, they don’t know where to go, they don’t feel comfortable paying more for a house, they don’t want to compete and be homeless. All these reasons are valid and strangely enough choking up inventory and as a byproduct a lot of agents are having to get a second job or leave the business entirely through attrition.

It can be pretty scary being in the business of real estate as your income relies on the spending of others; it’s a sad truth. If the clients aren’t spending, then the agent isn’t getting paid, so it becomes a requirement to be pragmatic with money going in and out. The agents that have been in the business a while will share that just because you have money doesn’t mean you spend it. This is an important principle. We’ve seen a lot of agents not stick to this principle and subsequently they’re no longer in the business. Maybe it’s a good thing they aren’t as well because it was all about money for them. This is where we see the economy “crashing.” This is not a good thing because a lot of people get hurt by this, a lot.

Are you a buyer, seller or agent right now and experiencing issues? If so, do you have a back up plan if you are unable to accomplish your goal? We would love to hear your experiences in this 2022 market thus far.