Why This Is The Best Season For Buyers
#51
This week may have gotten off to a slow start, but the Estate Media family sure didn’t. Glennda Baker caught up with CoStar CEO and President Andy Florence (more on that below), Jeffrey St. Arromand shared the news that Netflix’s Owning Manhattan will come back for a second season 🙌, The Inspection Period got John Gluch’s hot take on the value of coaching—and that’s just the start.
Keep reading for the best tips, tours, and stories of the past week, straight from the agents and industry pros themselves👇
🔊Today’s Top Podcast Rec:
CoStar CEO and President Andy Florence has advocated for ‘your listing, your lead’ for years, long before the model was proven through the success of Homes.com. Today, the platform has become one of the most comprehensive tools agents and home seekers can use to research properties, track sales, monitor their market, and more. Watch the latest Glennda’s Guru for a deep dive into how Homes.com improves user experience and data accuracy, and how a Homes.com membership can increase visibility for your listings.
TRACK THE TRENDS
MARKETS
According to the latest REALTORS® Confidence Index, the market is moving in buyers’ direction. Although the average days on market has dropped to 24 days, with homes receiving 2.7 offers, the report noted a big dip in the percentage of homes selling above list price. So while competition for more desirable homes may still be hot, the extra price negotiation room is giving a whole new group of buyers a chance to take their picture with the giant key on closing day.
Standout stats from the report:
-
In July, only 24% of homes sold for more than their list price, down from 29% in June and 35% last year.
-
A full 29% of buyers in July were first-timers.
-
With competition easing a bit, just 20% of buyers opted to waive the inspection contingency (down from 26% last year), and 22% waived the appraisal contingency (unchanged from last year).
REC ROUNDUP
The Friday Five
📖 When buyers aren’t buying. This buying metric just hit a 23-year low.
👀 Haunted house. See inside the newly listed Poltergeist house from the iconic ‘80s horror film.
👀 Buying Beverly. Josh Flagg and Gavren Dochterman show you what $24M buys in Beverly Hills.
💡 Killer keynote. Catch James Harris’ motivating keynote at this year's Inside Real Estate conference.
💡Invest like the best. What the wealthiest people do with their real estate.
WHAT’S NEW FROM ESTATE MEDIA
Why Your Mindset Is Your Best Asset
John Gluch, Founder and Team Leader of Gluch Group at eXp Realty, is exceptionally intentional about his time, his career, his goals, and the voices he listens to. From the end-of-day questionnaire he fills out before bed to evaluate the quality of his connections, to the unique frame he views success through, watch this week’s episode of The Inspection Period to see the result of a consistent and thoughtful approach to home and work life.
FEATURED LUXURY LISTING
Estate Elegance. Your daily dive into luxury real estate. Everyday.
Homes.tastrophes. Unique, weird, and wild real estate. Every Monday
The Blueprint. Stay up-to-date on the world of residential real estate. Powered by James Harris & David Parnes. Every Tuesday and Friday.
The Glennda Gazette. Real estate, real life, in real time. Every Wednesday.
The Playbook. Your ultimate guide to mastering real estate investing. Every Thursday.
WAS the Newsletter. Explore interior design advice and inspiration. Every Friday.
Put your best profile forward with a Homes Pro membership—and show up where (and when!) ready-to-move home searchers are looking. Tap the photo above to learn more about amplifying your real estate brand with premium tools, priority visibility, and enhanced exposure across the internet with Homes.com.
Before we go…
ESTATE RECOMMENDED RESOURCES
📣WANT TO REACH 100K+ REAL ESTATE PROFESSIONALS RIGHT IN THEIR INBOX?
Promote your brand with Estate Weekly and get noticed by the leading professionals in the real estate industry. Our subscribers include high-income decision-makers, investors, and key players in the real estate sector. For more information, please email partnerships@estatemedia.co.
