Welcome to the June edition of CENTURY 21 Affiliated Market Update. President and CEO of CENTURY 21 Affiliated, Dan Kruse, gave the Market Update solo this month, as Bill Kessler was on the road with family.
“All things are pushing forward, and things look really good,” said Kruse. The CENTURY 21 Affiliated footprint the market is up between 4-8 % in the number of homes being sold, and up in median sales prices between 4-9%. “However, one of the biggest challenges we face is the lack of listing inventory. Listing inventory is short everywhere not just in the Midwest, it’s an issue we are facing everywhere in the United States,” said Kruse.
However, listing inventory is key- so continue to build the listing inventory. But also talk about expectations, especially with Buyers. When looking at properties, know that average time on the market is moving fast. In some cases, it could be 24 hours and multiple offers are coming into play.
Also, set expectations with sellers in the buy-up or move-up situation. Chances are the property will sell quickly, so Sellers need to think about the next move and getting an offer set on another property.
“Make sure they can move forward with the offer – otherwise, they’ll be in a situation where they want to sell their home but won’t be ready to move into their next home,” said Kruse.
In other news, CENTURY 21 Affiliated continues to outperform in the marketplace. Looking at the numbers through May of 2016 in comparison to the numbers from May of 2015, CENTURY 21 Affiliated is up 14% in listing inventory with the average sale price up by about 5%. Finally, CENTURY 21 Affiliated is up 30% in number of homes sold in 2016. Currently, CENTURY 21 Affiliated is the #1 CENTURY 21 in the system.
Dan recently visited California and attended a CENTURY 21 Top Broker meeting. CENTURY 21 Affiliated was recognized as the fastest growing CENTURY 21 in the system in 2015. Much of that was due to agent’s efforts and increasing store-over-store growth and increase of production in 2015.
“Thank you for all the hard work you put together in 2015. You did an awesome job and made CENTURY 21 Affiliated the #1 CENTURY 21 in the world,” said Kruse.
Please mark your calendars for October 20th for the 2016 Agent Rally. The rally will consist of a Key Note Speaker and breakout sessions on technology, efficiency, prospecting and top agent panels. CENTURY 21 Affiliated will also be rolling out new initiatives at the Agent Rally including technology pieces in the lines of prospecting, lead generation and how to be more efficient as an agent. Exact details to come.
Congratulations on another productive month, CENTURY 21 Affiliated.