How long have you been in the industry?
I have been a REALTOR since 2002. I became a broker in 2005.
Are we currently in a buyer’s or seller’s market?
We are in both a buyer’s and a seller’s market. The interest rates are historically low, so buyers are interested in finding a home they both want and can now afford due to the low rates. Sellers are in a great position if their home is priced correctly, and their home is in top condition to sell.
As the pandemic nears its end, do you see the real estate market changing with it?
I do see some changes in our industry as COVID-19 draws nearer to its end. However, I see the change as positive. People do like to view the home several times before they purchase (which is a bit more challenging now) and when jobs are restored.
What are some of the most common mistakes you see sellers make?
Not having their home “show ready.” By this I mean, they should meet with their REALTOR to do a market analysis and to allow them to make suggestions regarding their position on the market. Their agent will suggest things like having a home inspection before it hits the market so they will know what repairs will need to be addressed. REALTORS will advise the seller on what to expect the first week or two of showings. There are so many details to consider in this market and we want sellers to find the best outcome.
What are some of the most common mistakes you see buyers make?
Buyers need to first meet with their lender or financial advisor. This is critical, especially in this market because of the low inventory available. There could be three offers or more on a home the first morning it goes into our multi-list system. The buyers need to be prepared to make their strongest offer in order to secure the home they want and this cannot happen unless they know how much they can afford. There are many other considerations in purchasing a home, but your REALTOR will guide you through the process.
Looking further ahead to the next five to 10 years, where do you think the real estate market is headed?
I wish I knew what the next five years have in store in the real estate market. No one could have predicted the pandemic or that interest rates would remain low for as long as they have. I just know that homeownership has shaped our economy and it always will. The American Dream of belonging to a community, with schools and parks nearby is as vital as it has ever been. We all understand how important owning a home is to building wealth, as well. Owning a home gives us all a sense of stability.
If I am thinking about putting my house on the market in the near future, what are some of the best things I can be doing now to prepare?
I suggest you find a REALTOR who you can trust and consult with on every aspect of selling. Go look at homes that may be on the market in your neighborhood and look at them from a buyer’s eyes. Buyers want a clean, well-maintained home at a fair price.
Some people elect to sell or buy without an agent; why would you advise otherwise?
There are so many reasons you need a REALTOR to navigate the process of buying and selling your home. REALTORS abide by a Code of Ethics and are licensed and are governed by the Arkansas Realtors Association and their rules and regulations. There are safety issues you must consider before opening your home to the public if you are selling. Agents make certain to bring buyers that are qualified and are serious about purchasing a home. We make certain to explore every option to position your home for a successful sale that benefits the buyer and the seller. Buyers and sellers may think they can navigate the process easily but statistics show that those who use a REALTOR realize more money on the sale of their home and buyers save time and money. REALTORS have expertise in buying or selling your home, which requires dozens of forms, reports, disclosures and many other documents. You want an agent on your side to assist you in all the processes during your transaction.
Your real estate agent has your back whether you are a buyer or a seller. We have a fiduciary responsibility to our clients. We are legally obligated to put our clients’ interests first in each transaction.
1501 N. University Ave., Little Rock • 501-916-8211