by Rob Wicker
Many markets are still devastated by the bursting of the real estate bubble—but not all of them. I spent last week in the medium-sized city of Greenville, SC, and I was struck by the diversity of perception. Some agents told me that “nothing is moving” while other agents were doing quite nicely. I spoke with one agent that generated 500 inquiries in May and a small developer that recently had five closings in a week.
Now is the time to make sure you know how the market really is doing. Get your hands on the best information you can. Your Board of Realtors should be providing an easy to understand market report. Analyze the data carefully. You may be surprised at what you find. Some price ranges may be moving, and that is where you should focus at least some of your marketing dollars.
In a down market it’s easy to fall into the “nothing is moving” syndrome and think that it’s okay to stop trying. That can be a fatal mistake for your business—especially when your competition knows better and is trying really hard.