Closed and pending sales outpace new listings in the SW Florida real estate market once again. Looking at the latest 7-day Lee County numbers shows 192 new single-family home listings and 349 new pending sales. There were 222 closed sales. The closed sales number will only increase because numbers were taken Wednesday April 29th at the time, we are writing this article. It takes a few days to report out closed sales end of month. As pending sales outpace new listings we’ll have to track and see if there is eventual upward price pressure.
Pending Sales Outpace New Listings
The Lee County Florida real estate market has been busy this past month as new pending sales outpace new listings. Closed sales did as well. The Ellis Team has been busy too this past month. We hold daily sales huddles and yesterday we counted 10+ pending deals for month of April and we did not have all our agents on call. That is not bad for s state that is been on stay at home orders. Keep in mind, real estate is considered an essential business, so we’ve been able to conduct virtual showings and virtual open houses, but the public hasn’t been out shopping models and showings like they used to. Most all of this has been done virtually with minimal in-person showings.
Our team takes the real estate business seriously. It’s a full-time profession for us, which means we don’t have other jobs paying our bills. Because we take it so seriously for our clients, we’ve learned to innovate and adapt to changing conditions.
We know many buyers still want or need to buy. Many sellers want or need to sell, so it’s up to us to find a way to make that happen for them and find a way we did.
Other agents are switching companies, and some companies are even contemplating closing their doors. We are fortunate to belong to a national company with no debt and full of ideas. We share best practices and ways to get the job done for our customers.
New Virtual Programs
If you read this article or subscribe to our blog you know about the programs we’ve introduced the past month. Programs like www.virtual-listing-appointment.com, or www.virtual-open-houses.com, or www.virtual-showings.com None of these programs existed 30 days ago and they are so critical to what we’re doing today.
It is not the website themselves that makes this a success. It’s the concept. For instance, sometimes another Realtor has a buyer and they ask a question about one of our listings. We have options to show them the home or answer their questions. We can visit the property and do a live or recorded video. Our team can schedule a 3D showing online with the customer and their agent, so they can ask any question. As the listing agent we can answer those questions and even point out a few things the other agent might not have shared. Nobody has to be at the property because we utilize cutting-edge technology upfront to be able to show the property over and over again with the 3D tour.
The bottom line is successful agents will thrive and adapt no matter what the market throws at them. I have sold real estate through several recessions, double digit interest rates, and a housing and financial collapse. Those experiences taught us how important it is to adapt quickly. What seems like an obstacle to many agents is a simple pivot for us.
The Future of Real Estate
Going forward we can see this may become the future of real estate. We believe there will be a new normal. Many agents you see today won’t be here 6 months from now, and next year there will be a new crop of agents eager and ready, but they won’t have the experience of what it takes to survive and thrive in a shift.
The shift can be economic, health, or just mindset. Let’s face it, few in America look at things the same today as we did 60 days ago. The world has changed, and so must we, regardless of which industry we are in.
If you have a property to sell, visit www.SWFLhomevalues.com, or call Brett or Sande Ellis at 239-489-4042 Ext 4 and we’ll be happy to talk to you about your options. Yes, we’d love to show you how we’re selling properties with advanced marketing we can put to work for you, and we can do this virtually with you as well. We look forward to hearing from you.
See last week’s article “Southwest Florida Real Estate Market Update April 2020”