Ep. 37 A Frustratingly Hot Market

In this episode, self proclaimed real estate nerds, Realtor Adam Kruse and Realtor Shannon St. Pierre, give a market update. Find out why St. Louis is currently a frustratingly hot market and what agents can do to make their offer stand out.  Email Questions To: [email protected] Host - Adam Kruse https://hermannlondon.com/realtor/adam-kruse/ Co-Host - Shannon St. Pierre https://hermannlondon.com/realtor/shannon-st-pierre/ ITUNES-http://goo.gl/rs1q9X Blog-https://hermannlondon.com/podcasts/ Producer - Joey Vosevich Theme Song by Trastornobeats 0:51 Self proclaimed real estate nerds, Adam Kruse and Shannon St. Pierre, give a market update 1:45 Agent Anne Valenza won the Hermann London marketing contest and won $1,000 2:53 Hermann London just got a billboard at Kingshighway and 44 4:16 The Association of Realtors trivia night 4:39 Cooking dinner for The Ronald McDonald House 5:02 There are a lot of people getting their real estate licenses because the market is so hot 5:32 Adam likes his agents to take a personality assessment to help them figure out the best way to market themselves 7:41 Shannon’s husband is using his DiSC personality assessment to update his LinkedIn account 8:19 Adam recommends Tony Robbins’ DiSC assessment https://www.tonyrobbins.com/disc/ 9:22 Is it a frustratingly hot market? It is a seller’s market but is terrible for buyers 10:25 Is it crazy to buy investment properties right now? 10:45 It’s not a  crazy deal if the numbers work 11:15 If the numbers don’t work, make an offer that does make the numbers work 11:30 Even if the offer seems lowball, it works 1 out of 15 times for Adam 12:15 Investors should not be afraid to make offers on more than one property 14:00 Shannon gives market statistics. Sales are up 5% but listings are down 11% from January last year. 16:51 The average days on market is 36 days 18:00 Adam remembers years ago that the average days on market was 90 days 18:45 Months of inventory is at 2.9 but what exactly is months of inventory 19:00 Months of inventory is found by taking the total number of active listings on the market and dividing it buy the total number of sales in that same time period 23:00 Buying a house at the end of a lease can be very frustrating. Contact your Realtor 6 months out 25:25 Median home sales are up 4% from the previous year  26:00 Shannon shares her experience with losing out on a listing with multiple offers. There were 17 28:00 What can buyers do to make their offer win? Adam does not recommend removing the inspection contingency 45:30 How do you know that the listing agent actually had a higher offer and didn’t write a fake offer 49:54 How can the buyer’s agent do a good job presenting the offer and influence the deal 52:00 Buyers and sellers don’t know the reputation of the agents. Does the reputation of the agent matter 54:21 Email Shannon at  [email protected]