Nobody would deny that it’s a crazy residential real estate market out there that is fraught with frustration, confusion, fear and turmoil. However, it would only require a small adjustment to one’s perspective to see that opportunities abound! As real estate consultant John Burns said, “Remember, every down cycle is the beginning of the next up cycle.”

As a general rule, I think it’s safe to say that many real estate agents are struggling right now. They’ll tell you that the real estate market is tough. “Homes just aren’t selling quickly enough“, they’ll say, or in real estate parlance, “The inventory is just not turning over like it used to.” In today’s market, both of these statements are probably true, but there are things that savvy agents can do to increase their chances of success and many agents are doing just that with great results.

Obeo works with thousands of real estate agents in North America each month, assisting them in marketing their listings online. Some of our clients echo the sentiments of other agents, that selling homes is tougher than ever before. But many have found that by doing a better job of showing and marketing their listings online, that there are still plenty of buyers out there, you just have to know how to attract them. (For an example, check out StyleDesigner, Obeo’s new next-generation online marketing technology that allows potential buyers to virtually redesign a listed home’s appearance online. It’s quite amazing.)

John Burn Real Estate Consulting posted a creative video to YouTube earlier this year (see below) that will shed some light on the current so-called real estate crisis. The video, which is really more of instructional cartoon, is targeted primarily at home builders, but it should be equally enlightening to real estate agents and consumers alike.

If you are a real estate agent, pay particular attention to what John calls the “6 P’s of Good Builder Research: People, Product, Payment/Price, Positioning, Promotion and Person.” Real estate agents will be able to easily relate to all six.

Take a few minutes to watch the video. I’ll think you’ll find it entertaining…and enlightening!

Housing Cycles: Lessons Learned