Monday, October 1, 2012

Lake Wedowee Real Estate Market Update

Market Update

by Leisel Caldwell

It is not easy being green...

Well Kermit, it is not easy being a real estate agent these days either! As a practicing real estate agent and broker in the local market, I can tell you the majority of active real estate agents are taking a hard hit.

Anyone associated with real estate is working a lot harder and making a lot less than they did just a few years ago. Many issues and problems are plaguing local agents: low appraisals, less financing options for lake property, more stringent financing guidelines on all real estate, fewer qualified buyers, title issues, the lack of buyer or seller loyalty as well as the doom and gloom of the national economy. Another factor is the over abundance of agents competing for the actual number of viable sales in our market. This has created a situation where very few local agents are making a living by solely selling real estate.

The national news outlets are reporting the housing market is getting better. Is this true or is it just more political propaganda? Personally, it has not been a good year for me as an agent (my team) and I know I am not alone. The majority of active real estate agents I know are struggling.

A lot of the general public is not familiar with how real estate agents are compensated, so let me explain... If we don't sale and close the sale we don't get paid. When the news media talks about unemployment statistics, real estate agents are not figured into those numbers. We also can't collect unemployment and we have very few benefits like corporate America and government employees. This is also true for most small businesses.

No, it is not easy being a real estate agent but just like Kermit, I am proud to be what I am and I will continue to work hard for my buyers and sellers and be the best real estate agent I can be.

Leisel Caldwell is the broker of RE/MAX Lakefront on Lake Wedowee.


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